Market Summary:
Copper second leg up. Gold and Silver rallied into the renewed conflict, but pulled back and consolidating.
Crude second attempt at a new move up. Natural Gas rally attempt fails.
The US 30yr Treasury down as the 10yr yield rises to 4.67%.
The expected overbought level for the 10yr yield rises to 4.73%.
The US Dollar – The USD in a new long.
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S&P 500 Futures #ESU26, #MESU26
Monthly –Monthly bar continues lower off the prior month highs. Trade pressures remain up, Volumes closed the month of June as bullish. The 7694 price remains the adjusted high. The next target up is 8684. A close below 7384 would confirm any weekly move lower.
Weekly – The weekly bar breaks down below trend. Trade pressures remain up, but declining. Volumes are now neutral. The next target down is 7325. The close below the 7500 median line support did confirm the daily move lower. A close above 7596 would confirm a daily move higher.
Daily – Short. Short the rally back to trendline at 7546 on 7/22. Trade pressures are down, Volumes remain bearish.
The next target down is 7375. The expected oversold level declines to 7355.
A close above 7494 would signal higher. The expected overbought level declines to 7537.
[OB/OS trend is declining.]
The VIX closes below 19, at 18.58 indicating market is moving toward chop.
The Hedgeye.com VIX risk range is 15.37 – 19.94.
[7-25-26: Set the SL at 7494.]
[7-26-26: Stopped out in the Sun nite session.]
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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 is in all cash, at $175,000.
The Year-to-Date portfolio performance is up 75%.
The Hedgeye.com GDP nowcast has GDP growth slowing in the 3rd quarter, re-accelerating in the 4th quarter and slowing once again in the 1st quarter of 2027.
Up 75% in the Navellier Top 5 for the first half of 2026 warranted profit taking.
6/26 – Now all cash for the summer; re-entering late July or early August, or re-entering if Navellier adds more defensive names. 7/25 – Quad shift (GDP and Inflation) to Quad 3 from a Quad 4 is likely in early August. Will look to re-enter positions.
The S&P 500 YTD return is 8.94%