Author: ChasW

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is in a new move up above the 200 day. Gold has broken above resistance. Silver has reached the target in the second leg up.

Crude oil is down below the long entry. Natural gas is in free fall.

The US 30YR Treasury bond is turning up.

The US Dollar futures are down hard on the JOBS report.

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S&P 500 Futures_

Monthly – In consolidation at the lows. Trade pressures are down but rising. Volumes closed the month of December 2022 as neutral for the second month. The next target down remains the 3008 level. A close above 4169 would confirm any weekly move higher.

Weekly – Pulled back to the lower median line which acts as support in the uptrend. Trade pressures are down into the neutral zone. Volumes are bearish. The next target up is 3957. A close below 3768 would confirm any daily move lower.

Daily – Flat. In the move down from the 3969 short entry on 12/15/22. Trade pressures are up into the neutral zone. Volumes are now bullish. The next target down is 3758. A close above 3941 would signal higher.

___________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is marked to the market and is restarted at $100,000 for the 2023 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.

This week’s market ended with a breakout of the trading range to the upside. The portfolio value remained unchanged at approximately $100,000. The Year-to-Date portfolio performance is now up 0%.

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

US$$

#usdollarfutures #ustreasurybondfutures

Weekly –  In the December 2022 downtrend. Trade pressures are down. Volumes are now neutral.

Daily – In the move down from the 105.36 short entry on 12/1/22. Trade pressures are up but turning down. Volumes are now bearish.

The next target down is 102.78. 103.30 is the oversold level.

A close back above 104.20 would signal higher. 106.51 is the expected overbought level.

 

US 30YR T-BOND_ USH23

Weekly – Remains in the January 2022 downtrend. Trade pressures are down. Volumes are now neutral.

Daily – Flat. 10 yr yields are declining and near oversold. Trade pressures are up. Volumes are bullish.

The next target up is 132-13.

A close below 127-15 would signal lower.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH23

Weekly – In the September 2022 downtrend. Trade pressures are up. Volumes are bearish.

Daily – Flat. Retracing the new move up from the 74.67 long entry on 12/13/22. Trade pressures are down but rising. Volumes are bearish.

The next target down is the prior low of 70.50.

Need a close back above the long entry price at 74.70 to re-enter the long trade.

 

NAT GAS_ HGH23

Weekly – In the October 2022 down trend. Trade pressures are down. Volumes are bearish.

Daily – Flat. In the move down from the 5.45 short entry on 12/19/22. Trade pressures are down hard and trending. Volumes remain bearish.

The next target down is 3.08; well blow the oversold level of 3.51. Use that 3.1 as the SL.

A close above 3.62 would signal higher. 4.91 is the over bought level. Take profits below there.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGH23

Weekly – In the May 2022 downtrend but testing the resistance. Trade pressures are now up. Volumes are bullish.

Daily – Flat. the break above the 200 day signals higher, look for the back-test. Trade pressures are up. Volumes are bullish.

The next target up is 3.95, now at overbought, so look for consolidation here.

The next target down is the 3.71 resistance.; which is also the oversold level.

 

GOLD_ GCG23

Weekly – Now in the new January 2023 uptrend. Trade pressures are up. Volumes remain bullish.

Daily – Flat. In the move up from the 1703 long entry on 11/8/22. Trade pressures are up but turning down. Volumes are bullish.

The next target up is 1913. Now above the overbought level at 1866.

A close below 1864 would signal lower, the expected oversold level is 1804.

 

SILVER_ SIH23

Weekly – In the December 2022 uptrend. Trade pressures are up. Volumes are bullish.

Daily – Flat. In the December 2022 uptrend. Trade pressures are down but rising. Volumes are bullish.

The next target up is 25.14 and a retest of the 24.77 pivot high.

A close below 22.21 would signal lower.

 

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is testing resistance. Gold also at resistance, but looks higher. Silver consolidating, but looks higher after a pullback.

Crude oil is trying breakout of the downtrend. Natural Gas is crashing in the worst winter storm in decades; is the war over?

The US 30 Year Treasury is in a new short trade.

The US Dollar Futures are at oversold levels.

____________________

S&P 500 Futures_

Monthly – Big neutral engulfing bar for December. Trade pressures are down but rising. Volumes closed the month of December as neutral. The next target down remains 3008. A close above 4188 would confirm any weekly move higher.

Weekly – In the move down from the 3981 short entry in the week ending 12/16/22. Trade pressures are up but declining. Volumes are bearish. The next target down is 3768. A close above 3957 would confirm any daily move higher.

Daily – Short.  In the move down from the 3969 short entry on 12-15-22. Trade pressures are down. Volumes are bearish. The next target down is 3758. 3740 is the next oversold level. A close above 3941 would signal higher. 3901 is the next overbought level.

___________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is marked to the market and is restarted at $100,000 for the 2023 year.

The portfolio stocks closed up 39% for the 2021 Year.

This week’s market traded in a 100 point range up and down all week. The portfolio value moved up 2% to approximately $65,000. Again, the concentration in energy stocks following the crude futures. The Year-to-Date portfolio performance is now down 35%; a disaster compared to the S&P down 20%, the Russell down 22%, the Nasdaq down 33% and Gold up 3%.

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

US$$

#usdollarfutures #ustreasurybondfutures

Weekly –  In the December 2022 downtrend. Trade pressures are down. Volumes are now neutral.

Daily –  In the move down from the 111.45 short entry on 11/04. Trade pressures are down. Volumes are bearish.

The next target down is 102.78. 103.36 is the oversold level. [Look for a new move up in the dollar and/or corresponding shorts in the Euro currencies.]

A close above 103.37. would signal higher. The next overbought level is 107.01.

 

US 30YR T-BOND_ USH23

Weekly – In the January 2022 downtrend. Trade pressures are down. Volumes are now bearish.

Daily – Short, in the move down from the new short entry 125-16 on 12/27/22. Trade pressures are down. Volumes remain bearish.

The next target down is 118-18. oversold is at 121-22. Use this level as the profit target.

A close above 125-04 would signal higher. with an overbought target of 127-16.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH23

Weekly – In the September downtrend. Trade pressures are up. Volumes are bearish.

Daily – Flat. Out of the long trade at the overbought levls. Trade pressures are down but rising. Volumes remain bullish.

The next target up is 87.17. The over bought level is 80.85, So, expect some retracement.

A close below 73.10 would signal lower. The current oversold level is 73.12.

 

NATGAS_ NGH23

Weekly – In the October 2022 downtrend. Trade pressures are down. Volumes are bearish.

Daily – Flat. In the move down from the 5.20 short entry on 12/20. Trade pressures are down hard. Volumes are bearish.

The next target  down is the 3.94 target. 4.01 is oversold.

A close above 4.35 would signal higher. The expected overbought level is now 5.82.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGH23

Weekly – In the May 2022 downtrend. Trade pressures are neutral. Volumes are bullish.

Daily – Flat. Retracing the move down, now testing the resistance at 3.87. Trade pressures are down. Volumes are neutral.

The next target down is the 3.62 support level. 3.68 would be an oversold level.

A close above the 3.87 resistance would signa higher, but the oversold level is 3.90. be quick to take the profit.

 

GOLD_ GCG23

Weekly – In the July 2022downtrend. Trade pressures are up. Volumes are bullish.

Daily – Flat. In the move up from the 1703 entry on 11/8/22. Trade pressures are up. Volumes are bullish.

The next target up is 1931. The oversold level is 1841; if above this level use as the stop.

A close below1719 would signal lower. 1783 is oversold, so look for a long re-entry between the 1719 and 1783 on any pull back.

 

SILVER_ SIH23

Weekly – In the December 2022 uptrend. Trade pressures are up. Volumes are bullish.

Daily – Flat. In the move up from the 21.81 level on 11/30. Trade pressures are down into the neutral zone. Volumes are bullish.

The next target up is 25.14.

A close below 22.56 would signal lower.

Navellier Top 5 Stocks for January 2023

The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.

https://navelliergrowth.investorplace.com/

 

High-Growth Investments

ConocoPhillips

ConocoPhillips (COP) is one of the largest independent exploration and production companies in the world. In 2021, the company achieved total production of 1.57 million barrels of oil equivalent per day (MBoed), and it ended the year with proved reserves of 6.1 billion barrels of oil equivalent. With an extensive energy portfolio that spans 13 countries, ConocoPhillips also transports oil and natural gas around the world through its pipelines, as well as on tankers, trucks and rails.

The fourth-quarter is anticipated to cap off another stunning year for the company. Fourth-quarter earnings are forecast to grow 41.9% year-over-year to $3.22 per share. In turn, ConocoPhillips is expected to achieve full-year earnings of $14.38 per share, or 139.3% annual earnings growth.

I should add that ConocoPhillips has paid a dividend for a whopping 171-straight quarters, and it has consistently increased its dividend during this time. In fact, ConocoPhillips increased its dividend by 92% in the past five years. Most recently, the company paid a quarterly dividend of $0.51 per share, and it plans to pay a special dividend of $0.70 per share on December 23. The stock has a 2.1% dividend yield. COP is a Conservative buy below $127.

SOM Technicals:

5-1-22: Closed at 95.52. Trade pressures are up. Volumes are bullish. The next target up is 100.57.

5-6-22: Closed at 107.69. Trade pressures are up. Volumes are bullish. The next target up is 108.75.

5-14-22: Closed at 103.78. Trade pressures are up. Volumes are neutral. The next target up is 104.

5-21-22: Closed at 105.02. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 100.93.

5-29-22: Closed at 114.85. Trade pressures are up. Volumes are bullish. The next target up is 121.40.

6-05-22: Closed at 118.12 . Trade pressures are up but turning down. Volumes are bullish. The next target up is 122.59.

6-11-22: Closed at 116.40. Trade pressures are down. Volumes are bearish. The next target down is 112.16.

6-18-22: Closed at 93.74. Trade pressures are down. Volumes are bearish. The next target down is 85.88.

6-25-22: Closed at 90.94. Trade pressures are down. Volumes are bearish. The next target down is 86.62.

7-2-22: Closed at 90.98. Trade pressures are in the neutral zone. Volumes are bullish. The next target up is 101.14.

7-9-22: Closed at 86.48. Trade pressures are down but rising. Volumes are bearish. The next target up is 95.02.

11-19-22: Closed at 128.59. Trade pressures are down. Volumes are bearish. The next target down is the support at 123.08.

11-27-22: Closed at 126.81. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 115.95.

12-2-22: Closed at 122.18. Trade pressures are down. Volumes are bearish. The next target down is 115.95.

12-11-22: Closed at 109.95. Trade pressures are down. Volumes are bearish. The next target down is 93.41.

12-16-22: Closed at 110.44. Trade pressures are down. Volumes are bearish. The next target down is the 200 day MA at 105.69.

12-31-22: Closed at 118.00. Trade pressures are up. Volumes are bullish. The next target up is 124.41, a new long entry.

1-7-23: Closed at 118.23. Trade pressures are up. Volumes are now bullish. The next target up is 124.41.

1-14-23 Closed at 121.47. Trade pressures are up. Volumes are bullish. The next target up is 124.41.

1-20-23: Closed at 121.80. Trade pressures are down but rising. Volumes are bullish. The next target up is 124.41.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) operates in several of the top oil and natural gas-producing regions in the U.S., with operations in Eagle Ford, Bakken Shale, the Permian Basin and STACK/SCOOP. The company anticipates that it will produce between 285 million and 290 million barrels of oil equivalent per day (Mboed) this year.

Recently, Marathon Oil announced that it would acquire 130,000 net acres in Eagle Ford from Ensign Natural Resources. The area is anticipated to produce 67,000 boed in the fourth quarter. The deal is expected to close by the end of the year, with an effective date of October 1.

Strong overall production is expected to add to Marathon Oil’s top and bottom lines in the fourth quarter. The current consensus estimate calls for earnings of $0.99 per share on $1.88 billion in revenue, which represents 28.6% year-over-year earnings growth and 4.3% year-over-year revenue growth.

Like most of our energy companies, Marathon Oil also pays a quarterly dividend. The company recently paid a fourth-quarter dividend of $0.09, up 50% from the $0.06 per share that it paid in the same quarter last year. The stock has a 1.3% dividend yield. MRO is a Moderately Aggressive buy below $31.

SOM Technicals:

3-26-22: Closed at 26.04. Trade pressures are up. Volumes are bullish. In consolidation. A close below 25.00 would signal lower.

4-2-22: Closed at 25.75. Trade pressures are up into the neutral zone, Volumes are bullish. The next target up is 26.22, the prior high.

4-10-22: Closed at 25.92. Trade pressures are up. Volumes are bullish. The next target up is 26.40 the prior high.

5-1-22: Closed at 24.92. Trade pressures are up. Volumes are neutral. The next target up is 27.27.

5-6-22: Closed at 28.15. Trade pressures are up. Volumes are bullish. The next target up is 29.00.

5-14-22: Closed at 27.00. Trade pressures are up. Volumes are bullish. The next target up is 27.35.

5-21-22: Closed at 27.26. Trade pressures are down but turning up. Volumes are bullish. The next target up is the 28.44 resistance.

5-29-22: Closed at 31.24. Trade pressures are up. Volumes are bullish. The next target up is 34.09.

6-05-22: Closed at 31.60. Trade pressures are up but rolling over. Volumes are bullish. A break below 30.58 would signal lower.

6-11-22: Closed at 30.10. Trade pressures are down. Volumes are bearish. The next target down is 27.90.

6-18-22: Closed at 24.15. Trade pressures are down. Volumes are bearish. The next target down is 20.39.

6-25-22: Closed at 22.05. Trade pressures are down. Volumes are bearish. The next target down is 20.62.

7-2-22: Closed at 22.56. Trade pressures are in the neutral zone. Volumes are neutral. The next target down is 20.90.

7-9-22: Closed at 21.72. Trade pressures are up into the neutral zone. Volumes are neutral. The next target up is 24.55.

7-30-22: Closed at 24.80. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

8-6-22: Closed at 21.77. Trade pressures are down. Volumes are bearish. The next target down is a retest of the low at 19.42.

8-12-22: Closed at 24.06. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

8-21-22: Closed at 24.46. Trade pressures are up. Volumes are bullish. The next target up is 28.90. 

8-27-22: Closed at 26.16. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

9-2-22 Closed at 25.71. Trade pressures are down but rising. Volumes are now neutral. The next target up is 28.90.

9-9-22: Closed at 25.61. Trade pressures are down but rising. Volumes are now neutral. The next target up is 27.55.

9-16-22: Closed at 23.10. Trade pressures are down. Volumes are now bullish. The next target up is 27.92.

9-23-22: Closed at 21.90. Trade pressures are down. Volumes are bearish. The next target down is 21.01.

10-1-22: Closed at 22.60. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target down is a retest of the 21.01 level.

10-8-22: Closed at 27.94. Trade pressures are up. Volumes are bearish. At the upper bound of the pitchfork. A close below 27.20 would signal lower.

10-16-22: Closed at 27.05. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is the 25.45 new short entry.

10-22-22: Closed at 29.15. Trade pressures are up. Volumes are bullish. The next target up is 34.01, but at resistance now.

10-29-22: Closed at 30.16. Trade pressures are up but declining. Volumes are now neutral. The next target down is 27.84.

11-5-22: Closed at 32.03. Trade pressures are up. Volumes are bullish. The next target up is 34.01.

11-11-22: Closed at 32.88. Trade pressures are up into the neutral zone. Volumes are now neutral. The next target up is 33.42.

11-19-22: Closed at 30.56. Trade pressures are down. Volumes are bullish. The next target down is 29.97.

11-27-22: Closed at 30.38. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is support at 29.07.

12-2-22: Closed at 29.74. Trade pressures are down. Volumes are bearish. The next target down is 26.51.

12-11-22: Closed at 26.17. Trade pressures are down. Volumes are bearish. The next target down is 24.88.

12-16-22: Closed at 27.33. Trade pressures are down into the neutral zone. Volumes are neutral. the next target down is the 200 day MA at 26.20.

12-31-22: Closed at 27.04. Trade pressures are down but rising. Volumes are now neutral. At the 200 day MA support, 26.38.

1-7-23: Closed at 26.60. Trade pressures are up. Volumes are neutral. The next target up is 28.28.

1-14-23: Closed at 27.08. Trade pressures are down into the neutral zone. volumes are bullish. The next target down is support at 26.59.

1-20-23: Closed at 27.80. Trade pressures are up. Volumes are bullish. The next target up is 28.28.

 

Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) was a new addition to the High-Growth Investments Buy List last month. You may recall that Marathon Petroleum operates the biggest refining system in the U.S., with 13 refineries capable of refining about 2.9 million barrels per day. It also has a network of pipelines, terminals and barges.

For the fourth quarter, earnings are forecast to surge 347.7% year-over-year to $5.82 per share, up from $1.30 per share in the same quarter a year ago. Analysts have also increased earnings estimates by a whopping 70.7% in the past three months, so a fifth-straight quarterly earnings surprise is likely. Fourth-quarter sales are expected to grow 6.1% year-over-year to $37.78 billion.

Marathon Petroleum also has a history of rewarding its shareholders, as it’s paid a dividend for 45-straight quarters. The company recently paid a fourth-quarter dividend of $0.75 per share, which represented a 29.3% increase from the $0.58 per share paid in the third quarter. The stock has a 2.6% dividend yield. MPC is a Conservative buy below $122.

SOM Technicals:

12-31-22: Closed at 116.39. Trade pressures are up. Volumes are bullish. In the move down. Need to clear 123 to become bullish.

1-7-23: Closed at 116.82. Trade pressures are up. Volumes are bearish. The next target is 109.26.

1-14-23: Closed at 121.93. Trade pressures are up. Volumes are bullish. The next target up is 131.52.

1-20-23: Closed at 125.72. Trade pressures are up. Volumes are bullish. The next target up is 134.52.

 

Occidental Petroleum Corporation

Occidental Petroleum Corporation (OXY) has provided energy exploration and petrochemical manufacturing services for more than 100 years. The company has energy and chemical assets around the world, including in the U.S., Africa, Latin America and the Middle East. Here in the U.S., Occidental Petroleum has operations in the Permian Basin, Rocky Mountains and Gulf of Mexico.

For the fourth quarter, the analyst community expects earnings to rise 41.9% year-over-year to $2.10 per share, up from $1.48 per share in the same quarter a year ago. Fourth-quarter revenue is forecast to grow 15.1% year-over-year to $9.22 billion.

Occidental has a long history of rewarding its shareholders, as it’s paid a dividend for an impressive 171-straight quarters. The company will pay a fourth-quarter dividend of $0.13 per share on January 17, 2023. All shareholders of record on December 12 will receive the dividend. The stock has a 0.8% dividend yield. OXY is a Moderately Aggressive buy below $71.

SOM Technicals:

8-27-22: Closed at 73.56. Trade pressures are up but turning down. Volumes are now neutral. The next target down is 71.86.

9-2-22: Closed at 68.77. Trade pressures are down but rising. Volumes are bearish. The next target down is 67.25.

9-9-22: Closed at 64.61. Trade pressures are down. Volumes are bearish. The next target down is 57.39.

9-16-22: Closed at 64.41. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 57.38.

9-23-22: Closed at 58.73. Trade pressures are down. Volumes are now neutral. The next target down is 57.39.

11-19-22: Closed at 71.25. Trade pressures are down. Volumes are bullish. The next target down is 66.26.

11-27-22: Closed at 70.28. Trade pressures are down. Volumes are neutral. The next target down is 66.26.

12-2-22: Closed at 68.21. Trade pressures are down. Volumes are bearish. The next target down is 63.94.

12-11-22: Closed at 62.60. Trade pressures are down. Volumes are bearish. The next target down is 56.41. 

12-16-22: Closed at 62.53. Trade pressures are down. Volumes are bearish. The next target  down is 56.41.

12-31-22: Closed at 63.04. Trade pressures are down but rising. Volumes are now neutral. The next target up is 65.28, which is a new long entry.

1-7-23: Closed at 63.75. Trade pressures are up. Volumes are bullish. The next target up is 64.37.

1-14-23: Closed at 65.20. Trade pressures are up. Volumes are bullish. The next target is the prior high pivot at 66.59.

1-20-23: Closed at 66.84. Trade pressure are up. Volumes are bullish. The next target up is 69.04.

 

Valero Energy Corporation

Valero Energy Corporation (VLO) is the biggest independent petroleum refiner worldwide and a top producer of renewable fuels in North America. The company currently owns 15 petroleum refineries in the U.S., Canada and U.K., with capacity to produce about 3.2 million barrels per day. Valero Energy is also the second-largest producer of corn ethanol and renewable diesel, as well as operates 33 wind turbines in the U.S.

Fourth-quarter earnings are forecast to soar 181.4% year-over-year to $6.95 per share, compared to $2.47 per share in the same quarter a year ago. Analysts have also upped earnings estimates by 46% in the past three months, so a fifth-straight quarterly earnings surprise is likely. Fourth-quarter revenue is expected to rise 18.7% year-over-year to $42.62 billion.

Like the rest of our Top Stocks this month, Valero Energy also consistently pays a quarterly dividend: It’s paid a dividend for 134-consecutive quarters. Recently, the company paid a fourth-quarter dividend of $0.98 per share. The stock has a 3.2% dividend yield. VLO is a Conservative buy below $133.

SOM Technicals:

11-19-22: Closed at 137.82. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 127.30.

11-27-22: Closed at 138.40. Trade pressures are up. Volumes are neutral. The next target down is 135.25, the new short entry.

12-2-22: Closed at 127.07. Trade pressures are down. Volumes are bearish. The next target down is 125.07.

12-11-22: Closed at 114.65. Trade pressures are down. Volumes are bearish. The next target down is 113.53.

12-16-22: Closed at 119.37. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 123.78

12-31-22: Closed at 128.66. Trade pressures are up. Volumes are bullish. The next target down is the 200 day MA at 116.74.

1-7-23: Closed at 127.56. Trade pressures are up. Volumes are bearish. The next target up is 136.69.

1-14-23: Closed at 136.25. Trade pressures are up.. Volumes are bullish. The next target up is 136.69.

1-20-23: Closed at 142.73. Trade pressures are up. Volumes are bullish. The next target up is 159.05.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper has re-entered the move down. Gold is retesting the 1836 high. Silver is in a short trade.

Crude oil is a new long but retracing. Natural gas is consolidating around the 6.72 target.

The US 30 year Treasury is at the upside target. Expect some retracement.

The US Dollar futures are at the downside target; looking higher.

___________________

S&P500 Futures_

Monthly – Higher closing highs and lower closing lows compared to the November month. Trade pressures are down but rising. Volumes closed the month of November as neutral. The next target down remains 3008. A close above 4169 would confirm any weekly move higher.

Weekly – In a retracement move down from the week ending 12/16 at 3981. Trade pressures are up. Volumes are now bearish. The next target down is 3758. A close above 4103 would confirm any daily move higher.

Daily – Short. In the new move down from the 3981 short entry. Trade pressures are down. Volumes are bearish. The next target down is 3758. Oversold levels are 50 pts lower. A close above 3998 would signal higher.

___________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is marked to the market and is restarted at $100,000 for the 2022 year.

The portfolio stocks closed up 39% for the 2021 Year.

This week’s market closed down once again. The portfolio value moved up 1% to approximately $63,000. Again, the concentration in energy stocks following the crude futures. The Year-to-Date portfolio performance is now down 37%; a disaster compared to the energy ETF which is up 53% YTD.

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