#emini #spfutures #SP500 #ES

Market Pressures_

Copper is is the long trade but close to a stop. Gold and silver are the safe havens in the equity swoon.

Crude Oil is down hard with the Saudis and the Russians in disagreement on production. Natural gas is in a new long entry.

The US 30 year Treasury is at all time highs, due fro a pullback?

The US Dollar futures are down hard and more to go. Normally this move down would support equity prices.

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S&P 500 Futures_

Monthly – In the move down from the 3176 short confirmation. Trade pressures are down. Volumes closed the month of February as bearish. The next target down is 2818. A close above 3230 would confirm any weekly move higher.

Weekly – In the move down from the 3238 short confirmation level. Trade pressures are down. Volumes are now neutral. The next target down is 2763. A close above 3107 would confirm any daily move higher. Price did trade up to the 3107 level but could not close there.

Daily – Flat.  Trade pressures are down but rising. Volumes are six days neutral. The mid week move up above the 2908 set the long entry trigger. A subsequent close below 3008 reversed the trade to short.

The next target down is the prior low at 2853.

A close next week above 2965 low will signal higher.

The daily ranges are wider than the distance to any stops making trading difficult.

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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 down this week to approximately $97,000 or minus 3% YTD, in this February month. The 13% gains from these first two months of 2020 have evaporated. But the fundamentals should remain intact. This portfolio was up 4% mid week but reversed quickly in this market.

 

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