#emini #spfutures #SP500 #ES

Market Pressures_

Copper has rallied with the equity markets. Gold and Silver have moved sideways; looking for a breakout to the upside after the FED meeting.

Crude Oil is at resistance so a pullback and then a new move up is possible. Natural gas is at a pivot, with up or down equally possible.

US 30yr Treasuries are poised for lower. Again the FED meeting will affect all markets.

The US Dollar futures are in a new move up, but with resistance nearby.

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S&P 500 Futures_

Monthly – New Highs? Trade pressures are up but showing a slight decline. Volumes closed the month of September as bullish. The next target up is 3408. A close below 2808 would confirm any weekly move lower.

Weekly – Touched the prior highs. Trade pressures are up. Volumes are bullish. The next target up is 3048. A close below 2872 would confirm any daily move lower.

Daily – Flat. Continues the move up from the 2913 long entry of Oct 4th. Trade pressures are up. Volumes are bullish. The next target up is the 3029 prior high and then 3072.50. A close below 2966 would signal lower.

May consider standing aside until after the FED meeting on Wednesday.

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Navellier Top 8 Stocks – This Top 8 model portfolio began the year at $100,000 has moved down this week slightly to approximately $113,000, or up about 13 percent for the year-to-date which is still trailing the major averages.  Cadence Systems (CDNS) , EuroNet (EEFT), and Hartford Financial Gp (HIG) will be replaced by Chipotle (CMG), Arch Capital (ACGL) and First Amer Financial (FAF) on Monday at the open.

 

[The author may have long or short positions in any of the securities mentioned.]