#emini #spfutures #SP500 #ES

Market Pressures_

Copper is testing the resistance, follows the equities. Gold is attempting a move up. Silver is in the move up but close to a new short entry.

Crude oil is near the March gap and may close it before turning down. Natural gas stays in the long move down.

The US 30 Year Treasuries are in the retracement move up.

The US Dollar futures are basing after the sharp May move down.

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S&P 500 futures_

Monthly – In the move up. Trade pressures are up. Volumes closed the month of May as neutral. The next target up is the 3405 high. A close below 2858 would confirm any weekly move lower.

Weekly – In the move up. Trade pressures are up. Volumes are bullish. The next target up is 3230. A close below 2934 would confirm any daily move lower.

Daily – Flat. Still in the move up from the April entry at 2848. Trade pressures are down. Volumes are bearish.

The next target up is the 3220 prior high pivot.

Support is at the 200 day MA at 2998. A close below 2917 would signal a new move 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 sold off Monday and then worked their way back thru Friday. The portfolio stocks are now up and valued at approximately $100,000, now back to even for the 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.]