Market Summary:
Copper waiting for a new Long. Gold and silver have covered shorts and wait similarly .
Crude lower. Natural Gas in the second leg up..
The US 30yr Treasury Long and higher as the 10yr yield declines to 4.45%.
The expected overbought level for the 10yr yield rises to 4.57%.
The US Dollar – The USD is a Long. But Inflation expected lower.
_________________
S&P 500 Futures #ESU26, #MESU26
Monthly –Monthly bar holding, but looking toppy. Trade pressures remain up, Volumes closed the month of May as bullish. The 7694 price is the adjusted high. The next target up is 8684. A close below 7384 would confirm any weekly move lower.
Weekly – The weekly bar higher off the April ’25 median line which is support at 7286. Trade pressures remain up. Volumes remain bullish. The next target up remains 7686. A close below 7325 would confirm any daily move lower.
Daily – Flat. 6/15 Stopped out of the long trade at 7639 from 7433 on 6/11. Trade pressures are down but rising, Volumes closed neutral.
The next target down is 7448. The expected oversold level rises to 7253.
A close above 7670 would signal higher. The expected overbought level declines to 7590.
[OB/OS trend is narrowing.]
The VIX closes below 19 at 16.40, indicating market is investible.
The Hedgeye.com VIX risk range is 15.01 – 22.97.
[6-19-26: Market appears to be staying between these OB/OS limits. The OB is declining. Watch for a lower high.]
__________________
Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is reset to $100,000 for the 2026 year.
These Navellier Top 5 portfolio stocks closed:
Down 35% for the 2022 Year.
Up 17% for the 2023 Year.
Up 42% for the 2024 Year.
Up 48% for the 2025 Year
Portfolio stock values for 2026.
The portfolio value up for the week, at $171,000.
The Year-to-Date portfolio performance is up 71%.
The Hedgeye GDP nowcast has rising growth, then slowing in the 3rd quarter then reaccerating in the 4th quarter. Up 71% for the first half of 2026 warrants profit taking. So, at the next open, taking profits and going to all cash for the summer; re-entering approaching the 4th quarter, or re-entering if Navellier adds more defensive names.
The S&P 500 YTD return is 8.59%