#emini #spfutures #SP500 #ES

Market Pressures_

Copper has moved with the equity markets and is a the 200 day resistance. Gold has moved down sharply. Silver is in a retracement and could signal a new short.

Crude oil has risen very sharply and is over extended. Natural gas appears to be basing but no new bullish volumes just yet.

The US 30 Year Treasuries are in a new move down after the break of the channel.

The US Dollar futures are down as well. But The European moves to stimulate nay moderate the decline.

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S&P 500 Futures_

Monthly – In the monthly move up after the close above the 2858 confirmation level. Trade pressures are rising in the neutral zone. Volumes closed the Month of May as neutral. The next target up is the 3405 prior high. A close blow 2828 would confirm any weekly move lower.

Weekly – In this long move up off the 2440 April long entry. Trade pressures are up Volumes are bullish. The next target up is 3240. A close below 2924 would confirm any Daily move lower.

Daily – A powerful breakout on the Friday jobs numbers. Trade pressures are up and extended. Volumes are bullish. The next target up is 3371.

Those jobs numbers are subject to revision. A close below 2985 would signal lower.

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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 Top 5 portfolio stocks rallied this week and now are valued at approximately $93,000, now down only 7% YTD. The 13% gains from these first two months of 2020 evaporated, but so have the down 32% lows of March. The portfolio fundamentals should become more important as the market narrows.

 

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