#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a move up but often parallels the equity markets. Gold and Silver have had dramatic moves both down then up; showing some selling pressures now.

Crude oil is trying to find a base. Natural gas the same. Both are suffering from the industry participants need for cash; new supplies hit the market seemingly with every uptick.

The US 30 year Treasury Bond is in a new move up, but appears to be short lived.

The US Dollar futures are retreating off the recent highs as the world need for dollars temporarily abates.

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S&P 500 Futures_

Monthly – Spiked down to a low of 2124 but rallied to close above the 2461 target. Trade pressures are down. Volumes closed the Month of  February as bearish and March should be same. The next target down is 2461. A close above 2858 would confirm many weekly move higher.

Weekly – The 2174 low was stopped by the lower median line from the Oct 2019 lows. Trade pressures are down but showing a bullish reversal. Volumes are still bearish. The next target down is a retest of the lows. The close above 2427 has confirmed the daily move up.

Daily – Long. In the move up from 2301 new long entry. Trade pressures are up. Volumes are three days bullish. The sell off at the Friday close should be limited as the weekly has had a bullish reversal. The next trade should be up with the daily and weekly in alignment. Watch the 60 min to see when the lower time frames have their next bullish reversal.

The next target up is 2713.

Where will we be wrong? A close below the both Thursday and Fridays lows would act as stops.

[4-1-20: A close below 2411 would signal lower. Use this as the stop.]

I think watch the Dollar futures, any sharp new demand for dollars may be an alert for a failure some where in the financial system.

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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 rallied this week to approximately $82,000, from minus 33% to minus 17% YTD, in this March month. The 13% gains from these first two months of 2020 have evaporated. But the fundamentals should remain intact.

(LDOS) Leidos Hldg and (TDY) Teledyne Technologies will be replaced with (BRO) Brown and Brown and (RMD) ResMed, Inc. at the open on Monday.

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