#emini #spfutures #SP500 #ES

Market Pressures_

Copper at lows. Gold and Silver moving higher without much conviction.

Crude oil is down at lows and at weekly support. Nat Gas is still in the move down but showing some accumulation.

The US 30 year Treasuries are at highs. Look for retracement.

The US Dollar fell hard this week. The Euro is the new long trade.

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S&P 500 Futures

Monthly –  first down month in four months. Trade pressures are up. Volumes closed this January month as bullish. The next target up is 3411. A close below 3116 would confirm any weekly move lower.

Weekly – In the move up from the 2943 long entry. Trade pressures are up but turning down. Volumes are bearish. the net target up is 3484. A close below 3178 would confirm any daily move lower.

Daily – Short. In the move down from the 3276 short entry level. Trade pressures are down. Volumes are bearish. The next target down is 3177. A close above 3275 would restart the move up.

NOTE: The December rally started at 3143. with a low pivot at  3072. So, the current uptrend will be intact until that 3072 level is broken.

[2-3-20: Short from the 3247 level. Stops at 3268. New target down is 3230.]

[2-3-20: stopped out in the post market session at the 3247 entry price.]

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Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The portfolio is up approximately to 107,000 or 7%  YTD in this January month so far. Sun Communities (SUI) will be replaced with Teledyne Tech (TDY) at the Monday opening.

 

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