#emini #spfutures #SP500 #ES

Market Pressures_

Copper consolidating between 2.60-2.80. Gold triggered a new down move and moved back up to test the 25×5 moving average as resistance. Silver followed the lead of gold down then turned up to rally in the downtrend.

Crude oil is at downside targets and consolidation. Natural Gas is the oil counter-move sharply up and appears to have topped.

US 30 year Treasury Bond futures are in a rally, likely in response to the flow into the dollar and the higher rates than other currencies.

US Dollar futures are taking a pause from the new 2018 highs.

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S&P 500 Futures

Monthly – In the move down. Trade pressures are down into the neutral zone. Volumes close the month of October with high volume and  Bearish. The next target down is 2603. A close above 29.47 is required to confirm any new weekly move up.

Weekly – In the down move from the 2867 short confirmation. Trade pressures are down but rising. Volumes are neutral for the third week. The next target down is 2610, a retest of the 2603 low. A close above the 2880 level would confirm any daily move up.

Daily – The prior week rallied up near the 2824 high pivot and then retreated to the 2700 levels which seem to have held Trade pressures are down but are turning. Volumes are mixed bearish mid week bullish on Thursday and neutral on Friday as the positions were squared up.

Price remains in the move up off the 2661 long entry price. This shorter cycle retracement down has triggered a short which as a 2603 downside target which would test the recent lows.

A break above the 25×5 moving average at 2743 would signal higher.

Part of the current trading problem is the technicals can get overwhelmed by the algorithmic trading. I think if one can realize the algo “piling on effect” that runs trades past expected levels; and use that to “pile on” with them IF and only IF the moves align with the SOM expected levels. Then one can have some success. But the conservative move is to stand aside or, go up time frames and accept the increased volatility.

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Navellier TOP 5 – Held the profit levels around $9000 (on the $125,000 virtual portfolio).  The Navellier ranking system screens and ranks stock picks into A-B-C-D-F categories. The TOP 5 stocks are ranked as A’s and B’s, as one would expect. The probability is they will outperform the averages over time.

_______________________

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

#emini #spfutures #SP500 #ES

Market Pressures_

Copper had a bear market rally and retreated to the entry price of that move up. Gold had a similar move up and now is looking at a new short entry nearby. Silver is now a short.

Crude has moved to the full downside target. Natural gas has moved to the full upside target.

The US 30 year Treasury Bond has retested the October lows.

The US Dollar Futures are retesting the October highs.

_____________________

S&P 500 Futures_

Monthly – In the move down from the 2726 short confirmation level. Trade pressures are down into the neutral zone. Volumes closed the month of October as bearish. The next target down is 2603. A close above 2947 would confirm any weekly move up.

Weekly – In the move down from the 2867 short confirmation level. Trade pressures are down but turning up. Volumes are neutral. The next target down is a retest of the 2610 level. A close above 2880 is required to confirm any daily move higher.

Daily – Flat. In the move up from the 2661. Trade pressures are up and extended. Volumes are mixed bullish to neutral.

The 2755 target was reached, had one day of pull back and then experienced a sharp election rally to the prior high of 2824.

The next target up is 2849.

A close below 2737 would signal lower once again.

So, the approaching holidays, the aftermath of the Democratic takeover of the House of Representatives, the tariff promises, and the year-end tax selling; all will produce volatility.

If there is that close below 2737, another pull back to the 2700 level would set up a possible head and shoulders bottom. Failing that, a retest of the lows at the 2606 level is next.

[11-12-18: Closed below the 2737 short entry level. Look for price improvement to enter new short. Watch the Dollar Futures.]

___________________________

Navellier TOP 5 – Rallied with the market, but gave back the rally gains with the tech sell off. Still ahead about $9000 on the $125,000 virtual portfolio investment.

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

#emini #spfutures #SP500 #ES

Market Pressures_

Copper technicals succumbed to the market pressures and dropped hard, as did Gold and Silver. But all recovered late in the week after some campaign tariff talk. Hard to see a quick resolution.

Crude oil and Natural gas futures continue their divergence. Crude points lower and Natural gas is near a new long entry.

The US 30 year Treasury Bond Futures broke lower as the metals rallied.

The US Dollar futures have targets lower. Expect some consolidation here.

__________________________

S&P 500 Futures_

Monthly – Closed the month down and in a new short confirmation of the lower time frames. Trade pressures are down. Volumes closed the month of October as bearish for the first time in more than 33 months. The next target down is the 2603 low. Need a close above the old 2947 high to confirm any new weekly move up.

Weekly – In the move down from the 2866 short confirmation level. Trade pressures are down. Volumes are neutral. The next target down is 2610 and then 2402. Need a close above 2880 to confirm any new daily move up.

Daily – Flat. In a new move up from the 2661 long entry level. Trade pressures are up into the neutral zone. Volumes are bullish.

The next target up is 2755 which was touched during Friday’s 500 pt intraday swing.

The prior short entry was triggered at 2769. That level should provide resistance.

A close below 2695 signals lower once again. Set any stops at this level.

__________________________

Navellier TOP 5.  Still shedding profits at a rapid rate. Now around $7800 up for the year on the initial $125,000 portfolio. A tough October, but earnings projections for all these stocks exceed their benchmarks. So, waiting out the storm is the current strategy.

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is developing a bullish pennant. Gold has had a slow and steady move up but looks extended now. Silver is sideways, maybe one more dip before a move up? Tariff conversations are the key.

Crude Oil futures are in the move down with the equities. Natural gas ran up as the international situation seemed precarious , now in a retracement.

The US 30 Year Treasury Bonds futures are up in a flight to safety.

The US Dollar futures are up sharply, perhaps the same flight to the US markets.

_________________________

S&P 500 Futures_

Monthly – In a new move down after the close below the 2726 confirmation. Trade pressures are down near the neutral zone. Volumes closed the month of September as bullish. A close above the old high of 2947 would confirm any new weekly move up.

Weekly – In the move down from the 2867 short confirmation. Trade pressures are down. Volumes are bearish. The next target down is 2610. A close above the 2806 prior long entry would confirm any daily move higher.

Daily – Flat. In the move down from the 2884 short entry. Trade pressures are down, but showing some divergence. Volumes are bullish at the end of the week; no one wants to be short over the weekend.

The next target down is 2599. With this divergence, be alert for a sharp move up if those targets are met.

A close above 2685 would setup a long retracement trade. Stops will be difficult as they will be far away from the entries. Some times just waiting for less volatility is a good trade.

[10-30-18: the spike down to the 2603 low on 10-29 reset the new long entry price to 2661. Price closed above this level. So, look for a pull back to enter a new long near the entry level.]

_________________

Navellier TOP 5 has fared well over these down days; losing profit, yes. But at $14,000 is still up nicely for the 2018 year; while the S&P 500 is down for the year-to-date. The November TOP 5 is now available, with Progressive (PGR) replacing GrubHub (GRUB).

_______________

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

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

https://navelliergrowth.investorplace.com/

Navellier says,

Fortinet, Inc. (FTNT) claims the top spot on the High-Growth Investments Buy List this month. Fortinet provides unified security solutions that can be deployed over digital networks to protect users against malware, spam and network intrusions. The company provides its security solutions to data centers, enterprises, carriers and distributed offices around the globe. Fortinet currently boasts a portfolio of over 530 patents worldwide.

Since its founding back in November 2000, the company has had a meteoric rise. Over the past 18 years, it has shipped more than four million units of its security solutions. It has built up a base of over 360,000 customers. And since 2002, its revenues have surged from just $2 million to nearly $1.5 billion. Clearly, the company’s products are in high demand.

And FTNT is looking great going forward. For the third quarter, analysts are calling for earnings of $0.42 per share on $450.8 million in revenue. This represents 50% annual earnings growth and 20.5% annual sales growth. Then again, the consensus EPS estimate has jumped 7.1% over the past 90 days. Upward revisions like this are strong predictors of a potential earnings surprise. So, I’m looking forward to Fortinet’s earnings report on November 1.

A few weeks ago, FTNT shareholders got welcome news: It has been added to the S&P 500. Now that FTNT has been added to the S&P 500, funds that track the benchmark index—of which there are many—are forced to buy shares of FTNT. As a Top 5 Stock, FTNT already has strong institutional buying pressure, and this will only help.

 I recommend that you buy this Moderately Aggressive stock up to $85 per share.

SOM Technicals:

9-29-18: Closed at 92.27. Trade pressures are up. Volumes are bullish. The next target up is 99.90.

10-7-18: Closed at 86.10. Trade pressures are down into the neutral zone. Volumes are bearish. Support is at 83.83.

10-13-18: Closed at 79.95. Trade pressures are down. Volumes are bearish. The old upside target of 277.70 could hold support.

10-20-18: Closed at 81.20. Trade pressures are down but rising. Volumes are now bullish. 84.20 signals a new long entry.

10-28-18: Closed at 78.19. Trade pressures are down but showing some divergence. Volumes are neutral. The next target down is 76.14.

11-3-18: Closed at 72.56. Trade pressures are up into the neutral zone. Volumes are bearish. The 200 day is the next support at 65.28.

11-10-18: Closed at 74.73. Trade pressures are neutral. Volumes are neutral to bearish. Need a close above 79.15 to get going again.

11-17-18: closed at 73.45. Trade pressures are in the neutral zone. Volumes are bearish. At support/ Need the close above 79.16 to resume the move up.

11-24-18: Closed at 67.96. Trade pressures are now down. Volumes are mixed bullish to neutral. At the 200 day MA. Need a  close above 72.11 to resume any move up.

 

Lululemon Athletica, Inc. (LULU) returns to the Top 5 list in anticipation of its upcoming third-quarter earnings report. Over the past two decades, Lululemon has led the athleisure fashion movement. Lululemon has more than 400 stores across four continents. And for workout buffs who are too busy to drive to their nearest store, there are multiple Lululemon e-commerce sites and mobile apps.

Even as it has grown its global footprint and customer base, Lululemon has kept true to its founding values. It differentiates itself by making some of the highest quality and most comfortable workout clothing that money can buy. Meanwhile, it maintains a strong presence in its local communities, offering free workshops and yoga classes in its stores.

Now is a good time to buy LULU on the dip because we’re just weeks away from its next earnings announcement. And it’s shaping up to be an excellent report. The company expects between 16.1% and 19.6% annual earnings growth and between 16.3% and 17.9% annual sales growth. Analysts are even more bullish about the company, forecasting 23.2% annual earnings growth and 18.8% annual sales growth. Given that the consensus estimate has jumped 9.5% in the past sixty days, it’ll likely do even better.

I must also mention that LULU has had a lot of positive analyst attention lately. On Wednesday, Canaccord Genuity upgraded it from “Hold” to “Buy” and raised their price target from $152 to $160. A few weeks ago, Wedbush upgraded LULU from “Neutral” to “Outperform” and reiterated their $176 price target. That represents nearly 30% upside from current prices.

So while LULU has pulled back on general market volatility, I consider it an excellent buy on the dip. Buy this Moderately Aggressive stock up to $147 per share.

SOM Technicals:

7-30-18: Closed at 120.00. Trade pressures are down. Volumes are bearish. Consolidating at the prior 119.00 target level.

8-4-18: Closed at 126.08. Trade pressures are rising into the neutral zone. Volumes are bullish. Still in the consolidation zone. Need a close above 130.05 to start a new move up.

8-10-18: Closed at 130.52. Trade pressures are up. Volumes are bullish. The next target up is 150.12.

8-18-18: Closed at 130.19. Trade pressures are up. Volumes are neutral. One of the few with an upward bias in August.

8-26-18: Closed at 138.76. Trade pressures are up. Volumes are bullish. The next target up is 150.12.

9-1-18: Closed at 154.93. Trade pressures are up. Volumes are neutral. Big earnings surprise puts LULU above the 150.12 target. The next target up is 170.18.

9-8-18: Closed at 150.82. Trade pressures are up. Volumes are neutral. The next target up is 170.18. 

9-15-18: Closed at 153.71. Trade pressures are up and trending. Volumes are neutral. The next target up is 170.18.

9-23-18: Closed at 156.99. Trade pressures are up and trending. Volumes are bullish. The next target up is 170.18.

9-29-18: Closed at 162.49. Trade pressures up and trending. Volumes are bullish. The next target up is 170.18.

10-7-18: Closed at 153.84. Trade pressures are up but turning down. Volumes are bearish. The next target down is the 25×5 moving average at 148.50.

10-13-18: Closed at 143.71. Trade pressures are down. Volumes are bearish. The initial long entry at 130.05 is the the next support.

10-20-18: closed at 136.77. Trade pressures are down. Volumes are bearish. the prior long entry at 130.05 is support.

10-28-18: Closed at 134.82. Trade pressures are down. volumes are bearish. the next target down is 131.02.

11-3-18: Closed at 142.02. Trade pressures are down but rising. Volumes are bullish.  144.25 is the new long entry.

11-10-18: Closed at 137.56. Trade pressures are neutral. Volumes are bearish. support at the 133.13 low pivot.

11-17-18: Close at 139.02. Trade pressures are in the neutral zone. Volumes are mixed, bullish to bearish. At support need a close above the 144.35 level to resume the move up.

11-24-18: Closed at 120.86. Trade pressures are down. Volumes are neutral. At the 200 day MA. Need a close above 129.64 to start a new move up.

 

Ecopetrol SA (EC) is one of my favorite energy plays right now. Thanks to a series of strategic acquisitions and oilfield discoveries, Ecopetrol is Colombia’s largest oil company and Latin America’s fourth-largest oil company. With operations in Brazil, Colombia, Peru and the U.S. Gulf Coast, Ecopetrol accounts for 60% of oil production in Colombia.

Last quarter, Ecopetrol achieved “significant operational and financial achievements.” Part of the company’s success was due to its highest production levels in seven quarters. Ecopetrol produced 721,000 barrels of petroleum equivalent per day during the second quarter.

Ecopetrol reported that second-quarter sales increased 29.2% year-over-year to 16.99 trillion Colombian pesos. Net income surged 169.7% year-over-year to 3.52 trillion Colombian pesos (or $1.17 billion). In U.S. dollar terms, earnings came in at $0.60 per ADS. This beat the $0.57 per ADS consensus estimate by 5.3%.

Looking ahead, the company is on track to meet its 2018 production goal of 715,000 to 725,000 barrels per day. So, I’m looking forward to Ecopetrol’s third-quarter announcement, which will be released around November 13. The consensus estimate calls for $0.60 EPS on $6.04 billion in revenue. This represents a whopping 172.7% annual earnings growth and 35.5% annual sales growth.

Then again, Ecopetrol has a history of beating estimates. It has trounced analysts’ expectations for three of the past four quarters. This, plus the fact that the consensus EPS estimate has jumped 7.1% in recent weeks, suggests that Ecopetrol will blow estimates out of the water again.

In the meantime, buy this Aggressive stock up to $26 per share.

SOM Technicals:

6-30-18: Closed at 20.55. Trade pressures are rising into the neutral zone. Volumes are bullish. Meeting the 25×5 moving average resistance at the 21.03 level. 

7-6-18: Closed at 20.49. Trade pressures are up into the neutral zone. Volumes are now bullish. A close above 20.44 would signal higher.

7-14-18: Closed at 20.72. Trade pressures are in the neutral zone. Volumes are mixed neutral and bullish. The next target up is 23.28.

7-20-18: Closed at 20.85. Trade pressures are in the neutral zone. Volumes are now bullish. The next target up is 23.28.

7-29-18: Closed at 20.68. Trade pressures are still in the neutral zone. Volumes are bearish. Consolidating after a new buy signal.

8-4-18: Closed at 21.32. Trade pressures are up. Volumes are now bearish. In the move up off the June lows. The next target up is 23.28.

8-10-18: Closed at 20.90. Trade pressures are down into the neutral zone. Volumes are bearish. Now sitting on support.

8-18-18: Closed at 20.49. Trade pressures are down. Volumes are bearish.The prior low is 18.68.

8-26-18: Closed at 22.10. Trade pressures are up. Volumes are neutral. The next target up is 23.28.

9-1-18: Closed at 22.60. Trade pressures are up. Volumes are bullish. The next target up is 23.28.

9-8-18: Closed at 22.32. Trade pressures are up but turning down. Volumes are mixed, bearish to bullish. The next target up is 23.28.

9-15-18: Closed at 25.14. Trade pressures are up. Volumes are neutral. The next target up is 26.12.

9-23-18: Closed at 24.78. Trade pressures are up. Volumes are neutral. Consolidating at the 26.12 target.

9-29-18: Closed at 26.94. Trade pressures are up and trending. Volumes are bullish. the next target up is 30.72.

10-7-18: Closed at 26.66. Trade pressures are up and trending. Volumes are bearish. The next target down is 25.08.

10-13-18: Closed at 25.50. Trade pressures are down into the neutral zone. The 25×5 at 24.40 is support.

10-20-18: Closed at 25.59. Trade pressures are down slightly. Volumes are bearish. The 25×5 support is holding at 24.74.

10-28-18: Closed at 23.59. Trade pressures are down. Volumes are neutral. The next target down is 20.42.

11-3-18: Closed at 21.57. Trade pressures are down. Volumes are bearish. the next target down is 20.42.

11-10-18: closed at 21.29, Trade pressures are down. Volumes are bearish. At the 25×5 moving average support.

11-17-18: Closed at 20.62. Trade pressures are down. Volumes are bearish. At the 20.42 downside target and the 200 day moving average.

11-24-18: Closed at 18.69. Trade pressures are down. Volumes are bearish. Following crude down. Testing the June low 

 

Burlington Stores, Inc. (BURL) is another familiar name on the Top 5 list. Burlington is a fixture in shopping centers across the country. Stepping through one of its 630 Burlington Coat Factory locations is an experience. There are racks of apparel, footwear, accessories, household products and beauty products as far as the eye can see. Everything is neatly laid out, including women’s, men’s, youth and baby departments.

While many department stores are downsizing and cost cutting, Burlington Stores is thriving. That’s because it offers shoppers high-quality, name-brand merchandise at unbeatable prices. Of course, every store claims to do that, but Burlington Stores actually delivers through its off-price model.

So Burlington is doing better than ever, as demonstrated by Burlington’s outlook for FY 2018. Burlington expects total sales will grow between 10.1% and 10.6%. It expects adjusted earnings in a range of $6.13 to $6.20 per share, or between 40.3% and 41.9% annual earnings growth. There aren’t too many retailers that can claim double-digit sales and earnings growth.

In the meantime, Burlington Stores is expected to report third-quarter sales and earnings in late November. Analysts are calling for earnings of $1.06 per share on $1.61 billion in revenue. This represents 51.4% annual earnings growth and 11.7% annual sales growth. Burlington Stores also has a strong track record of earnings surprises.

I expect big things from Burlington this earnings season. Buy this Conservative stock up to $182 per share.

SOM Technicals:

9-29-18: Closed at 162.93. Trade pressures are down but rising into the neutral zone. Volumes are neutral. Need a close above 168.90 to signal higher.

10-7-18: Closed at 152.34. Trade pressures are down. Volumes are bearish. The next target down is 145.70.

10-13-18: Closed at 155.48. Trade pressures are up into the neutral zone. Volumes are now bullish. The next target up is the 25×5 resistance at 162.62.

10-20-18: Closed at 155.35. Trade pressures are up into the neutral zone. Volumes are bullish. 162.62 is now the new long entry.

10-28-18: Closed at 170.82. Trade pressures are up. Volumes are bullish. Ripped thru the new long entry; the next target up is 175.48.

11-3-18: Closed at 173.19. Trade pressures are up. Volumes are bullish. the next target up is 180.99.

11-10-18: Closed at 172.12. Trade pressures are up and rolling over. Volumes are bullish. The next target up is 180.99.

11-17-18: Closed at 161.75. Trade pressures are up but have turned down. Volumes are Bearish. At the 25×5 moving average support line and the 162.62 long entry level.

11-24-18: Closed at 148.32. Trade pressures are now down. Volumes are bearish. At the 200 Day MA. The next target down is 135.90.

 

The Progressive Corp. (PGR) joins the Top 5 list after just one month on the Buy List. That’s because this insurance stock has shown remarkable strength amidst the market volatility. Progressive is one the largest providers of auto insurance in the U.S. Founded in 1937, Progressive has always taken an innovative approach to auto insurance. It offered drive-in claims service before anyone else. And it also allowed its customers to pay their premiums in installments before anyone else.

Along with cars, Progressive also provides insurance for motorcycles, boats, RVs, commercial vehicles, Segways and homes. It has been hugely successful with “Flo” and its advertising campaign, building goodwill with its customers and expanding into other lucrative insurance categories.

Last Tuesday, PGR rallied after it beat expectations for the third quarter. Last quarter, net premiums written jumped 20% year-on-year to $8.6 billion. Analysts were expecting $8.41 billion in net premiums written, so Progressive posted a 2.3% surprise. Over the same period, earnings per share surged 311% to $1.57. This smashed the $1.12 consensus EPS estimate by 40.2%.

Investors cheered these results, so PGR rallied after the announcement. With its top-notch fundamentals and 1.7% dividend yield, PGR rounds out our Top 5 list for the month. Buy this Conservative stock up to $73 per share.

SOM Technicals:

10-28-18: Closed at 68.10 Trade pressures are in the neutral zone. Volumes are bearish. The next target down is the 66.64 support line.

11-3-18: Closed at 69.58. Trade pressures are in the neutral zone. Volumes are neutral. Support seems to hold at 66.64.

11-10-18: Closed at 73.18. Trade pressures are up. Volumes are bullish. At the 73.85 upside target.

11-17-18: Closed at 66.33. Trade pressures are down into the neutral zone. Volumes are neutral, buyers equal sellers. Support is at the 200 day moving average at 63.08.

11-24-18: Closed at 62.95. Trade pressures are down. Volumes are bearish. At the 200 Day MA. Need a close above 66.56 to start anew move up.

 

#emini #spfutures #SP500 #ES

Market Pressures_

Copper and Gold and Silver seem to want to go higher, but are stalled in a consolidation channel.

Crude is in the move down to the 67 target. Natural Gas is in consolidation at the the 3.30 highs.

The US 30 year Treasury Bonds are in a retracement move up.

The US Dollar futures are attempting to start a new move up but meeting resistance at the 95 entry level.

___________________

S&P 500 Futures

Monthly – Still in the move up. Trade pressures are up but declining. Volumes closed the month of September as bullish. The next target up is the 2947 high. A close blow 2726 would confirm the weekly move lower.

Weekly – In the new move down from the 2865 level. Trade pressures are now down. Volumes are bearish for two weeks in a row. The next target down is 2739 which was touched and is now acting as support. A close above 2806 would confirm any new daily move higher.

Daily – Flat. In the new move up from the 2770 long retracement entry. Trade pressures are still down. Volumes have changed from bearish to neutral suggesting short covering.

This 2770 level is a pivot point between the long and short. Monthly pressures are still up, Weekly pressures are now down and Daily pressures are down. Need a close above 2864 to counter these negative pressures; but, for the moment, these movements suggest more downward pressures. with targets in the 2680 area.

Jaime Diamond says beware of the geopolitical stresses.

_____________________

The Navellier TOP 5 have sold off with the market. Earnings season for the list begins in these last two weeks of October which should benefit the fundamentally superior companies.

 

 

#emini #spfutures #SP500 #ES

Market Pressures_

Copper moved somewhat to the upper side of the small side ways channel. Gold moved up sharply in a new uptrend. Silver moved up as well but only to the upper end of the downward sloping channel.

Crude held at the 70 downside target and now is retracing upward. Natural gas seems the beneficiary of the disturbance in the oil markets.

The US 30 Year Treasury Bond is moving up off the price lows.

The US Dollar futures are holding the 94 level.

________________

S&P 500 Futures

Monthly – Retracing in the move up . Trade pressure are up. Volumes close the month of September as bullish. The next target up is the old high at 2947. A close below 2726 would confirm any weekly move lower.

Weekly – In the move down from the 2867 short entry. Trade pressures are down. Volumes are bearish. The next target down is 2739 which was touched this last week. A close above 2855 would confirm any daily move higher.

Daily – Long. The sharp down move of last week went thru the 2789 profit target level. Te subsequent lows of 2712 then set up a new long entry at 2770. Trade pressures are down but turning up. Volumes are neutral indicating short covering.

The next target up is 2864. This is a retracement  move up inside the larger move down.

A close below the 2753 level would signal a resumption of the move down.

Set the initial stops at 2753; move them to the 2770 entry price as soon as practicable.

[10-17-18: AM. Raise stops to the breakeven at 2770.]

[10-18-18: Raise stops to the 10-17-18 lows at 2780.]

_______________

The Navellier TOP 5 portfolio was hit hard this last week, but remains up About $19,000 for the year.

 

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a pull back from its rally after the new  long entry. Gold is in consolidation off its lows. Silver is in a new long trade.

Crude oil hit new high at the 75 level. Natural gas reached the 3.20 highs also.

The US 30  year Treasury Bonds closed at multiple downside targets.

The US Dollar touched a new long entry.

___________________

S&P 500 Futures_

Monthly – Six months up to new highs and now one week of a pullback. Trade pressures are up. Volumes closed the month of September as bullish. The next target up is 3383. A close below 2726 would confirm any weekly move lower.

Weekly – Five weeks of a consolidation at the 2927 upside target. Trade pressures are up. Volumes are bullish which suggests rotation rather than a selloff. The next target up is 3234. A close below 2867 would confirm any daily move lower.

Daily – Flat. Ten days of consolidation at the 2936 upside target and two days of selling. Trade pressures are down. Volumes remain net bullish.

The next daily target up is 2988.

2886 is the next short entry level and the uptrend support line is just below at 2871. If this short is triggered and the support fails, then the next target down is 2789.

[10-10-18: Short. The 2886 level has been triggered. Lower stops to the entry point asap]

[10-11-18: New long entry at 2805. Lower stops for the short trade to this 2805 level.]

[10-11-18: lower close lowers the new long entry to 2770. Lower stops to 2770.]

[10-12-18: stopped out in the overnight market for a 116 pt gain. The next target up is 2864.]

 

The Navellier Top 5 have performed well over this year. The DOW 30 is up 5-7 percent while the Top 5 Are near 20%.

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

https://navelliergrowth.investorplace.com/

Navellier says,

Lululemon Athletica (LULU) once again claims the top spot on the High-Growth Investments Buy List. Over the past two decades, Lululemon has led the athleisure fashion movement. Lululemon has more than 400 stores across four continents. And for workout buffs who are too busy to drive to their nearest store, there are multiple Lululemon e-commerce sites and mobile apps.

Even as it has grown its global footprint and customer base, Lululemon has kept true to its founding values. It differentiates itself by making some of the highest quality and most comfortable workout clothing that money can buy. Meanwhile, it maintains a strong presence in its local communities, offering free workshops and yoga classes in its stores.

Lululemon won’t release its third-quarter results until late November, but it’s already shaping up to be an excellent report. The company expects between 16.1% and 19.6% annual earnings growth and between 16.3% and 17.9% annual sales growth. Analysts are even more bullish about the company, forecasting 21.4% annual earnings growth and 18.6% annual sales growth.

LULU has been on a winning streak, and it shows no signs of slowing down. Buy this Moderately Aggressive stock up to $177 per share.

SOM Technicals:

7-30-18: Closed at 120.00. Trade pressures are down. Volumes are bearish. Consolidating at the prior 119.00 target level.

8-4-18: Closed at 126.08. Trade pressures are rising into the neutral zone. Volumes are bullish. Still in the consolidation zone. Need a close above 130.05 to start a new move up.

8-10-18: Closed at 130.52. Trade pressures are up. Volumes are bullish. The next target up is 150.12.

8-18-18: Closed at 130.19. Trade pressures are up. Volumes are neutral. One of the few with an upward bias in August.

8-26-18: Closed at 138.76. Trade pressures are up. Volumes are bullish. The next target up is 150.12.

9-1-18: Closed at 154.93. Trade pressures are up. Volumes are neutral. Big earnings surprise puts LULU above the 150.12 target. The next target up is 170.18.

9-8-18: Closed at 150.82. Trade pressures are up. Volumes are neutral. The next target up is 170.18. 

9-15-18: Closed at 153.71. Trade pressures are up and trending. Volumes are neutral. The next target up is 170.18.

9-23-18: Closed at 156.99. Trade pressures are up and trending. Volumes are bullish. The next target up is 170.18.

9-29-18: Closed at 162.49. Trade pressures up and trending. Volumes are bullish. The next target up is 170.18.

10-7-18: Closed at 153.84. Trade pressures are up but turning down. Volumes are bearish. The next target down is the 25×5 moving average at 148.50.

10-13-18: Closed at 143.71. Trade pressures are down. Volumes are bearish. The initial long entry at 130.05 is the the next support.

10-20-18: closed at 136.77. Trade pressures are down. Volumes are bearish. the prior long entry at 130.05 is support.

 

Fortinet, Inc. (FTNT) is another premium cybersecurity play on the High-Growth Investments Buy List. Fortinet provides unified security solutions that can be deployed over digital networks to protect users against malware, spam and network intrusions. The company provides its security solutions to data centers, enterprises, carriers and distributed offices around the globe. Fortinet currently boasts a portfolio of over 530 patents worldwide.

Since its founding back in November 2000, the company has had a meteoric rise. Over the past 18 years, it has shipped more than four million units of its security solutions. It has built up a base of over 360,000 customers. And since 2002, its revenues have surged from just $2 million to nearly $1.5 billion.

Clearly, the company’s products are in high demand. And FTNT is looking great going forward. For the third quarter, Fortinet expects revenue to be between $445 million and $455 million, or 18.9% to 21.6% annual sales growth. Third-quarter earnings per share are expected to be between $0.41 and $0.43, which represents 46.4% to 53.6% annual earnings growth.

FTNT is an excellent cybersecurity play and a strong growth stock. Buy this Moderately Aggressive stock up to $100 per share.

SOM Technicals:

9-29-18: Closed at 92.27. Trade pressures are up. Volumes are bullish. The next target up is 99.90.

10-7-18: Closed at 86.10. Trade pressures are down into the neutral zone. Volumes are bearish. Support is at 83.83.

10-13-18: Closed at 79.95. Trade pressures are down. Volumes are bearish. The old upside target of 277.70 could hold support.

10-20-18: Closed at 81.20. Trade pressures are down but rising. Volumes are now bullish. 84.20 signals a new long entry.

 

Ecopetrol SA (EC) is my top energy play on the Buy List right now. As a refresher, Ecopetrol is Colombia’s largest oil company and Latin America’s fourth-largest oil company. With operations in Brazil, Colombia, Peru and the U.S. Gulf Coast, Ecopetrol accounts for 60% of oil production in Colombia.

Last quarter, Ecopetrol achieved “significant operational and financial achievements” in the second quarter. Part of the company’s success was due to its highest production levels in seven quarters. Ecopetrol produced 721,000 barrels of petroleum equivalent per day during the second quarter.

Ecopetrol reported that second-quarter sales increased 29.2% year-over-year to 16.99 trillion Colombian pesos. Net income surged 169.7% year-over-year to 3.52 trillion Colombian pesos (or $1.17 billion). In U.S. dollar terms, earnings came in at $0.60 per ADS. This beat the $0.57 per ADS consensus estimate by 5.3%.

And the third quarter is looking even better. Since the second-quarter announcement, the third-quarter consensus EPS estimate has shot up 36%. Analysts are calling for 190.9% earnings growth and 36.4% sales growth. So, I’m looking forward to Ecopetrol’s third-quarter announcement, which is due out in mid-November. In the meantime, buy this Moderately Aggressive stock up to $30 per share.

SOM Technicals:

6-30-18: Closed at 20.55. Trade pressures are rising into the neutral zone. Volumes are bullish. Meeting the 25×5 moving average resistance at the 21.03 level. 

7-6-18: Closed at 20.49. Trade pressures are up into the neutral zone. Volumes are now bullish. A close above 20.44 would signal higher.

7-14-18: Closed at 20.72. Trade pressures are in the neutral zone. Volumes are mixed neutral and bullish. The next target up is 23.28.

7-20-18: Closed at 20.85. Trade pressures are in the neutral zone. Volumes are now bullish. The next target up is 23.28.

7-29-18: Closed at 20.68. Trade pressures are still in the neutral zone. Volumes are bearish. Consolidating after a new buy signal.

8-4-18: Closed at 21.32. Trade pressures are up. Volumes are now bearish. In the move up off the June lows. The next target up is 23.28.

8-10-18: Closed at 20.90. Trade pressures are down into the neutral zone. Volumes are bearish. Now sitting on support.

8-18-18: Closed at 20.49. Trade pressures are down. Volumes are bearish.The prior low is 18.68.

8-26-18: Closed at 22.10. Trade pressures are up. Volumes are neutral. The next target up is 23.28.

9-1-18: Closed at 22.60. Trade pressures are up. Volumes are bullish. The next target up is 23.28.

9-8-18: Closed at 22.32. Trade pressures are up but turning down. Volumes are mixed, bearish to bullish. The next target up is 23.28.

9-15-18: Closed at 25.14. Trade pressures are up. Volumes are neutral. The next target up is 26.12.

9-23-18: Closed at 24.78. Trade pressures are up. Volumes are neutral. Consolidating at the 26.12 target.

9-29-18: Closed at 26.94. Trade pressures are up and trending. Volumes are bullish. the next target up is 30.72.

10-7-18: Closed at 26.66. Trade pressures are up and trending. Volumes are bearish. The next target down is 25.08.

10-13-18: Closed at 25.50. Trade pressures are down into the neutral zone. The 25×5 at 24.40 is support.

10-20-18: Closed at 25.59. Trade pressures are down slightly. Volumes are bearish. The 25×5 support is holding at 24.74.

 

GrubHub, Inc. (GRUB) returns to the Top 5 list for the second-consecutive month. GrubHub is revolutionizing the food delivery industry, one order at a time. The company operates GrubHub, Seamless and Eat 24, online ordering platforms that connect hungry customers in 1,600 cities with 80,000 local restaurants. The company also operates two online menu websites—Allmenus.com and MenuPages.com. Together, these websites are helping to make paper takeout menus obsolete.

These easy-to-use apps are becoming very popular. Last quarter, active diners surged 72% year-over-year to 15.1 million. Of those, nearly a half a million users were Daily Active Grubs, which meant they placed orders every single day. Given this phenomenal growth rate, it’s no surprise that GrubHub is entering dozens of new markets every quarter.

So I’m looking forward to GrubHub’s third-quarter earnings report, which is slated for the end of October. The Street view is for earnings of $0.41 per share on $238.6 million in revenue, or 46% earnings growth and 46% sales growth. GrubHub is also known for beating estimates, so I expect that it’ll do even better. Buy this Aggressive stock up to $155 per share.

SOM Technicals:

9-1-18: Closed at 144.11. Trade pressures are up. Volumes are bullish. In the move up from the 105.30 entry. The next target up is 152.41.

9-8-18: Closed at 141.92. Trade pressures are up but turning down. Volumes are bullish. The next target up is 152.41.

9-15-18: Closed at 146.11. Trade pressures are up. Volumes are bullish. The next target up is 152.41.

9-23-18: Closed at 135.75. Trade pressures are down. Volumes are bearish. The next target down is 128.90.

9-29-18: Closed at 138.62. Trade pressures are down but turning up. Volumes are bullish to neutral. The next target up is 152.41.

10-7-18: Closed at 129.84. Trade pressures are down. Volumes are bearish. At the 126.54 downside target, the next target down is 112.44.

10-13-18: Closed at 116.55. Trade pressures are down. Volumes are bearish. At the 112.44 target now and consolidating.

10-20-18: Closed at 114.69. Trade pressures are down and extended, Volumes are bearish. At the 112.44 target and consolidating.

10-28-18: Closed at 87.95. Trade pressures are down. Volumes are bearish. The next target down is 84.34.

 

Burlington Stores, Inc. (BURL) joins the Top 5 after just one month on the Buy List. With 630 locations, Burlington is a fixture in shopping centers across the country. Along with coats and apparel, Burlington sells footwear, accessories, household products and beauty products. While many department stores are downsizing and cost cutting, Burlington Stores is thriving. That’s because it offers shoppers high-quality, name-brand merchandise at unbeatable prices. Of course, every store claims to do that, but Burlington Stores actually delivers through its off-price model.

So Burlington is doing better than ever, as demonstrated by Burlington’s outlook for FY 2018. Burlington expects total sales will grow between 10.1% and 10.6%. It expects adjusted earnings in a range of $6.13 to $6.20 per share, or between 40.3% and 41.9% annual earnings growth.

There aren’t too many retailers that can claim double-digit sales and earnings growth. And Burlington is expected to keep up the pace. Back-to-school season is upon us, and colder weather is just around the corner. For many shoppers looking for school outfits, or warmer coats, Burlington will be their first stop. Buy this Conservative stock up to $174 per share.

SOM Technicals:

9-29-18: Closed at 162.93. Trade pressures are down but rising into the neutral zone. Volumes are neutral. Need a close above 168.90 to signal higher.

10-7-18: Closed at 152.34. Trade pressures are down. Volumes are bearish. The next target down is 145.70.

10-13-18: Closed at 155.48. Trade pressures are up into the neutral zone. Volumes are now bullish. The next target up is the 25×5 resistance at 162.62.

10-20-18: Closed at 155.35. Trade pressures are up into the neutral zone. Volumes are bullish. 162.62 is now the new long entry.

 

Market Pressures_

Copper has pulled back from the first move up. Gold is sinking, but Silver is in a new long trade.

Crude oil is at the weekly upside target. Natural Gas ran to the 3.05 target and now is consolidating.

The US 30 year Treasury Bond was stopped out of the short trade during FED week.

The US Dollar futures fell but stopped short of a new short trade, then rallied into the FED announcement.

_________________

S&P 500 Futures_

Monthly – Closed just twelve point higher than August. Trade pressures are up. Volumes closed the month of September as bullish. The next target up is 3383. A close below 2726 would confirm any weekly move lower.

Weekly – Closed just off last week’s high at the 2927 target level. Trade pressures are up. Volumes are still bullish. The next target up is 3234. A close below 2867 would confirm any daily move lower.

Daily – Flat. Consolidating at the 2938 upside target level. Trade pressures are down into the neutral zone. Volumes are bearish. The next target up is 2988. A close below 2886 would signal lower.

Navellier Top 5 stocks are changing with the updated October list.  ABMD and HFC are dropped and BURL and FTNT are added. The yearly virtual gains are now approximately $28,000 with ABMD as the big winner. (see the 2018 results)