Market Summary:
Copper finds support at 5.99. Gold and silver have will test the breakout of their bull flags.
Crude basing. Natural Gas in the second leg up.
The US 30yr Treasury Long and higher as the 10yr yield declines to 4.37%.
The expected overbought level for the 10yr yield declines to 4.50%.
The US Dollar – The USD is a Long; but testing the 100.80 support.
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S&P 500 Futures #ESU26, #MESU26
Monthly –Monthly bar down off the highs. 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. Very near a close below 7384 would confirm any weekly move lower.
Weekly – The weekly bar forms a lower high at 7658 and down this week. Trade pressures remain up. Volumes are now bearish. The next target up remains 7666. A close below the 7325 support would confirm any daily move lower.
Daily – Flat. In the move down off the lower high on 6/15 . Trade pressures are down, Volumes are bearish.
The next target down is 7325. The expected oversold level rises to 7286.
A close above 7445 would signal higher. The expected overbought level declines to 7568.
[OB/OS trend is narrowing.]
The VIX closes below 19, but rising; at 18.40 indicating market is moving toward chop.
The Hedgeye.com VIX risk range is 15.62 – 21.49.
[6-19-26: Market appears to be staying between these OB/OS limits.]
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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 $175,000.
The Year-to-Date portfolio performance is up 75%.
The Hedgeye GDP nowcast has rising GDP growth, then slowing in the 3rd quarter then re-accelerating in the 4th quarter. Up 75% in the Navellier Top 5 for the first half of 2026 warrants profit taking. Now 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 7.48%