Market Pressures_

Copper fully extended down. Gold and silver continue the move down.

Crude in the sharp rally upward, breaking above the May highs. Natural gas is consolidating at the weekly upside target.

The US 30 year Treasury Bonds futures are up as funds flow into the US Dollar.

The US Dollar futures making another move higher after a pause last week, but momentum seems to be receding.

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S&P 500 Futures_

Monthly – Closed higher now for three months in a row. Trade pressures are up but still trending lower. Volumes closed the month of June as bullish. In the move down from the 2662 short confirmation level. The next target down is 2304. A close above 2883 would confirm a weekly move higher.

Weekly – In a pullback after trading up to the daily long confirmation level of 2796. Trade pressures are up but in a deline toward the neutral zone. Volumes closed the week as bearish. The next target down is 2589. A close above the 2796 level would confirm any daily move higher.

Daily – Flat. In the move down from the 2735 short entry level. Trade pressures are down. Volumes are bearish.

Traded down to the 2693 level and found some end of the week support at the May 28th low.

The next target lower is 2638.

A close above 2740 would signal a new move up.

The Navellier list of the TOP 5 has changes; dropping Boeing (BA), Northrup Grumman (NOC), XPO Logistics (XPO) then adding Holly Frontier (HFC), Ecopetrol SA (EC), and Heico (HEI). The Navellier TOP 5 have had some volatility recently, but are still well ahead of the markets in percentage returns.

Market Pressures_

Copper has fully retraced the June rally. Gold broke down from the 1300 consolidation area. Silver is back to the side ways drift.

Crude Oil rallied in the morning this Friday. Natural gas is at resistance.

The US 30 year Treasury Bonds are showing upward pressures.

The US Dollar futures are in a new move up, but sold off this week down to the new entry level.

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S&P 500 Futures_

Monthly – Still in the 3 month rally. Trade pressures are up but declining. Volumes closed the Month of May as neutral. In the move down from 2662. The next target down is 2304. A close above 2883 would confirm any weekly move higher.

Weekly – Tested the new long confirmation level of 2796. Trade pressures are up. Volumes have changed from bullish to neutral. The next target down is 2589. A close above 2796 would confirm any daily move higher.

Daily – Flat. Consolidating at the 2753 upside target. Trade pressures are now down. Volumes are bearish.

The next target up is 2822.

A close below 2735 would signal a new move lower. The 25×5 is acting as support at 27.46. A breakdown of these levels would set the next downside target at 26.38.

The Navellier Top 5 suffered some profit taking, especially the China related stocks. However, these are the best of the financial screens and when the market gets going again the list will move first.

Market Pressures_

Copper is giving back all of the prior weeks move up. Gold had a sharp break down. Silver ran up to the expected target and dropped with gold.

Crude Oil is consolidating at expected levels. Natural gas has had a quiet rally.

The US 30 year is in a move up after some consolidation.

The US Dollar futures are back to new highs.

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S&P 500 Futures_

Monthly – Still in the move down from the 2662 short confirmation. Trade pressures are up but turning down. Volumes closed May as neutral. The next target down is 2304 and the 25×5 moving average support is just nearby. A close above 2883 would confirm a weekly move higher.

Weekly – Remains in the move down from the 2803 short confirmation level. Trade pressures are up. Volumes remain bullish. The next target down is the 2589 level. The six week move up has the market near the 2796 level which would confirm a daily move up.

Daily – Flat. In the move up from the 2629 long entry level. Now thru the 2753 upside target level and about to test the 2805 high pivot. Trade pressures are up but turning down. Volumes remain bullish.

The next target up is 2822, which is above the Weekly 2796, the confirmation of a daily move up.

A close below 2735 would signal a retracement. However the 25×5 moving average is nearby at 2747, so will watch for any breakdown at those levels.

The Navellier Top 5 have paused after the steady climb for the month of June.

Market Pressures_

Copper has made sharp rally to the weekly 3.30 levels for the fourth time in a year. Gold and Silver are quiet for the summer, but some geopolitical shock could spark a move up.

Crude has traded down to the 100% Fib target. Expect some retracement. Natural gas is moving up in a quiet market.

The US 30 year Treasury bonds are reacting to the dollar futures and are in retracement down after the recent move up.

The USA dollar futures are in a pull back after reaching an upside target and pointing lower if they violate the 25×5 support at 92.82.

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S&P 500 Futures_  #spfutures #eminifutures

Monthly – In the third month of a move up. Trade pressures are up. Volumes closed the month of May as neutral. Still in the move down from the 2662 weekly confirmation level. The next target down is 2304. A close above 2883 would confirm any weekly move higher.

Weekly – Continuing the rally inside the move down from the 2803 level. Trade pressures are up. Volumes are bullish. The next target down is 2589. A close above 2796 would confirm any daily move higher.

Daily – Flat. In the move higher from the 2629 long entry level and approaching that 2796 weekly confirmation level. Trade pressures are up. Volumes are bullish.

Moved easily thru the 2763 100% Fib target. The next target up is the march high of 2806. A large cluster of targets are in the 2800-2820 area. These should represent resistance and these new rallies are not confirmed with higher indicator highs.

A close below 2723 would signal a retracement lower.

Despite the market concerns, the Navellier Top 5 have continued their moves higher. The virtual portfolio of about $100,000 is up just over $18,000 YTD. Definitely outperforming the equity markets.

Market Pressures_

Copper has moved down to test support which held and is now in a move up. Gold made an attempt at a new move up but failed. Silver is in neutral.

Crude oil is in the move down. Natural Gas is moving counter to crude, but without enthusiasm.

The US 30 year Treasury Bond moved up in price to the expect targets and is now in a retracement down.

The US Dollar futures are in a pullback after the big move to 94.76. The 25×5 moving average support is at 93.26.

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S&P 500 Futures_

Monthly – Three months of higher highs and lower lows. Trade pressures are up but turned down. volumes closed the month of May as neutral for the fourth month in a row. In the move down from the 2662 short confirmation level. The next target down is 2304. A close above 2883 would confirm any weekly move higher.

Weekly – In the move up off the April 6th low. Trade pressures are up. Volumes remain bullish. Still in the short move down off the 2803 entry. The next target down is 2589. A close above 2796 would confirm any daily move higher.

Daily – Grinding sideways since May 14th trying to get through the multiple layers of resistance. Trade pressures have risen up into the neutral zone. Volumes are mixed bearish one day bullish the next, a sign of the contest between the bears and bulls at these resistance levels.

The prior high of May 14th is 2741 and the 2753 upside target are the next barriers.

A close below the 25×5 moving average at 2701 would signal anew move lower.

The Navellier Top 5 Stocks for June are resting after a nice move up in May.

Navellier says – As I mentioned earlier, our Top 5 stocks had a stunning month. On average, they rallied 11.6%, far outpacing the broader market. So, this month, we’re keeping the same lineup. As a reminder, our Top 5 stocks are selected according to their Quantitative Grades.

Given the narrowing market, my Quantitative Grade has become one of my most important metrics. It measures the institutional buying pressure supporting our stocks. Like individual investors, large institutional investors, such as corporations, cities or school systems, invest in stocks for income. These large institutional clients buy large chunks of a stock. Typically, the more attractive a stock currently is to institutional investors, the better the stock will perform in the near term.

So if you’re looking for good stocks to buy and hold during the bumpy summer months, I recommend that you start with this month’s new buys, then these Top 5 stocks.

ABIOMED, Inc.

ABIOMED, Inc. (ABMD) rises to the top spot on the Buy List, and it’s no secret why. Over the past month, the medical devices company has surged 31%. ABIOMED is the only medical devices company that provides technologies that replace or assist the pumping function of a failing heart.

This is a big deal because heart disease accounts for some 800,000 deaths in the U.S. alone each year. So ABIOMED provides a life-saving service to tens of thousands of patients and their families. Given strong demand for medical devices to treat heart disease, ABIOMED’s business is booming. This was demonstrated in its latest earnings report, which covered the fiscal fourth quarter and fiscal 2018.

For the fourth quarter, net income soared 147% to $36.8 million, or $0.83 per share. Excluding special items, adjusted earnings came in at $0.80 per share. Over the same period, revenue improved 40% to $174.4 million. Analysts were expecting $0.64 EPS on $164.3 million in revenue, so ABIOMED posted a whopping 25% earnings surprise and a 6.1% sales surprise.

For FY 2018, net income surged 115% to $112.2 million, or $2.54 per share. Excluding special items, adjusted earnings came in at $2.45 per share. Over the same period, revenue jumped 33% to $593.7 million. ABIOMED also beat analysts’ estimates for FY 2017; with a Street view of $2.30 EPS on $583.7 million in revenue, the company posted a 6.5% earnings surprise and a 1.7% sales surprise.

ABIOMED released a strong outlook for FY 2019. The company is targeting revenues between $740 million and $770 million, or between 25% and 30% annual sales growth. ABIOMED also expects operating margin to range between 28% and 30%. ABMD remains a tremendous monopolistic play, and I recommend that you add shares up to $424.

SOM Technicals:

3-30-18: Closed at 290.99. Trade pressures are down into the neutral zone. On the 25×5 moving average as support. The next target up is 323.10.

4-7-18: Closed at 286.22. Trade pressures are neutral. Volumes are neutral. the Next target up is 323.10

4-14-18: Closed at 297.00. Trade pressures are up. Volumes are bullish. The next target up is 323.10.

4-21-18: Closed at 305.92. Trade pressures are up. Volumes are bullish. The next target up is 323.10.

4-27-18: Closed at 300.83. Trade pressures are up. Volumes are neutral. The next target up is 323.10.

5-5-18: Closed at 349.28. Trade pressures are up. Volumes are bullish. the next target up is 359.38. 

5-11-18: Closed at 372.70. Trade pressures are up. Volumes are bullish. The next target up is 412.00.

5-19-18: Closed at 384.36. Trade pressures are up. Volumes are bullish. The next target up is 412.

5-26-18: Closed at 391.49. Trade pressures are up. Volumes are bullish. the next target up is 412.00.

6-3-18: Closed at 392.25. Trade pressures are up but turning down. Volumes are neutral. The next target up is 412.00.

6-8-18: Closed at 409.77. Trade pressures are up but turning over. Volumes are neutral. Traded to the 412.00 target and now experiencing profit taking.

6-16-18: Closed at 443.58. Trade pressure are up. Volumes are bullish. The next target up is 463.97.

6-22-18: Closed at 427.29. Trade pressures are up but rolling over. Volumes are now bearish. The next target up is 463.97. Support is the 25×5 moving average at 411.26.

Northrop Grumman Corp.

Northrop Grumman Corp. (NOC) is the aerospace and defense giant that has the distinction of being the longest held position on the Blue Chip Growth Buy List. Since I recommended it in March 2014, the stock has soared 175%! And it shows no signs of slowing down.

This is a big year for Northrop Grumman, now that it has acquired aerospace and defense company Orbital ATK (OA) for $7.8 billion. This deal merges two of the largest D.C.-area public companies that have some of the biggest government contracts, and more importantly, improves U.S. technology as it relates to space, missiles and munitions.

And this acquisition builds upon an already strong foundation of sales and earnings. In its recent first-quarter earnings announcement, Northrop Grumman hiked up its earnings forecast for 2018. The company is now expecting earnings per share to range between $15.40 and $15.65, up from its previous guidance of $15.00 EPS to $15.25 EPS. The revised guidance represents between 16.0% and 17.8% annual earnings growth.

The other thing I love about Northrop Grumman is that it has a healthy dividend yield of 1.3%. Recently, the company approved a 9% increase in its quarterly dividend. Shareholders of record on June 4 will receive $1.20 per share on June 20. As I mentioned earlier, dividend increases help to provide a foundation under our stocks, and NOC is no exception. With its excellent blend of growth and value, I consider NOC a Strong Buy up to $355 per share.

SOM Technicals:

3-30-18: Closed at 349.12. Trade pressures are in the neutral zone. Volumes are bullish. The next target up is 361.68.

4-7-18: Closed at 352.99. Trade pressures are in the neutral zone. Volumes are neutral.

4-14-18: Closed at 350.00. Trade pressures are up into the neutral zone. Volumes are bullish. The next target up is 361.69.

4-21-18: Closed at 355.92. Trade pressures are up. Volumes are bullish to neutral. The next target up is 361.59.

4-28-18: Closed at 322.70. Trade pressures are down. Volumes are now neutral. The next target down is the 200 day moving average at 307.

5-5-18: Closed at 313.50. Trade pressures are down. Volumes are bullish to bearish. at the 200 day moving average.

5-11-18: Closed at 325.22. Trade pressures are down but rising. Volumes are now neutral. The next target up is 364.72.

5-19-18: Closed at 330.00. Trade pressures are in the neutral zone. Volumes are neutral to bullish. The next target up is 361.72.

5-26-18: Closed at 331.90. Trade pressures are just up out of the neutral zone. Volumes are bullish. the next target up is 361.72.

6-3-18: Closed at 329.99. Trade pressures are still in the neutral zone. Volumes are bullish. The next target up is 361.72.

6-8-18: Closed at 338.63. Trade pressures are in the neutral zone. Volumes are bullish. The next target up is 361.72.

6-16-18: Closed at 321.62. Trade pressures are down. Volumes are bearish. The next support down is the moving average at 317.17.

6-22-18: Closed at 312.04. Trade pressures are down. Volumes are bearish. Support is a the prior low pivot at 302.85.

S&P Global, Inc.

S&P Global, Inc. (SPGI) makes its fourth consecutive appearance on the Top 5 list. S&P Global provides intelligence, data and analytics, enabling business leaders around the world to make more informed decisions. With multiple divisions, including S&P Market Intelligence, S&P Global Ratings, S&P Dow Jones Indices and S&P Global Platts, the company has evolved into the leading provider of credit ratings, and is relied on by countless financial professionals for its data and custom indices.

The big thing in the works for S&P Global is its recent acquisition of Kensho Technologies, Inc. Kensho provides global banks and financial institutions with analytics, artificial intelligence, data visualization systems and machine learning. S&P Global purchased Kensho for $550 million, which was the largest acquisition price for an artificial intelligence company so far.

The acquisition is expected to be profitable in 2019 and is already broadening S&P Global’s impressive portfolio of offerings. A few weeks ago, the company announced that S&P Global Market Intelligence platform users can now access information on privately held companies. This data linking project was made possible by Kensho’s machine learning algorithms, as well as through a partnership with company database Crunchbase.

I’m excited to see what other kinds of innovations come out of the Kensho acquisition. In the meantime, SPGI has excellent forecasted sales and earnings. For the current quarter, analysts are calling for 6.6% annual sales growth and 24.4% annual earnings growth. And S&P Global is expected to keep up the pace over the next several quarters.

As a reminder, SPGI recently went ex-dividend on Friday, May 25. Shareholders of record will receive $0.50 per share on June 12. At current prices, SPGI has a 1.0% annual dividend yield. I recommend you buy this Conservative stock up to $214 per share.

SOM Technicals:

2-25-18: Closed at 191.67. Trade pressures are up. Volumes are bullish. The next target up is 203.26.

3-2-18: Closed at 189.02. Trade pressures are up but declining. Volumes are bearish. The next target up is 203.26.

3-11-18: Closed at 194.96. Trade pressures are up but declining. Volumes are bullish. The next target up is 203.26.

3-17-18: Closed at 192.51. Trade pressures are down into the neutral zone. Volumes are neutral. Support is the 25×5 at 189.

3-23-18: Closed at 186.49. Trade pressures are down. Volumes are bearish. Has just broken the 25×5 support. The next target down is 185.18, then 177.41.

3-30-18: Closed at 191.06. Trade pressures are down. Volumes are neutral. Consolidating at the 185 target.

4-7-18: Close at 189.74. Trade pressures are in the neutral zone. Volumes are bearish. Consolidating at the 185 downside target.

4-14-18: Closed at 190.76. Trade pressures are up. Volumes are bullish. Need a close above the downtrend resistance line at 196.38.

4-21-18: Closed at 192.96. Trade pressures are up. Volumes are now bearish. Support at 190.67.

4-27-18: Closed at 187.07. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is the 177.41 level.

5-5-18: Closed at 192.17. Trade pressures are down but rising. Volumes are now bullish. A new long entry at 192.04.

5-11-18: Closed at 199.99. Trade pressures are up. Volumes are bullish. The next target up is 204.16.

5-19-18: Closed at 197.92. Trade pressures are up. Volumes are now neutral. the next target up is 204.16

5-26-18: Closed at 200.34. Trade pressures are up. Volumes are mixed bearish to bullish. The next target up is 204.16.

6-3-18: Closed at 200.32. Trade pressures are up but declining. Volumes are now neutral. The next target up is 204.16.

6-8-18: Closed at 206.47. Trade pressures are up. Volumes are bullish. The next target up is 216.28.

6-16-18; Closed at 208.68. Trade pressures are up. Volumes are bullish. The next target up is 209.09.

6-22-18: Closed at 206.35. Trade  pressures are up. Volumes are bearish. The next target up is 215.08. Support is at the 25×5 moving average at 201.71.

The Boeing Company

The Boeing Company (BA) continues its winning streak on the Top 5 list, returning for the second-consecutive month. As you know, Boeing is a premier aerospace company and manufacturer of commercial jetliners, along with defense, space and security systems. It is best known for its commercial aircraft, including the 737, which is a favorite of domestic airlines like Southwest, United Airlines and American Airlines. Boeing also has a strong international presence, with customers in 150 countries.

And it seems like every week Boeing wins another big order for its airplanes and helicopters. Last quarter, Boeing made 184 commercial deliveries and its backlog increased to $486 billion, including more than 5,800 commercial airplanes. Boeing beat analysts’ sales expectations by 5.4% and earnings projections by a stunning 41.1%.

Boeing plans to keep up the momentum for the rest of 2018. This year, Boeing expects full-year sales between $96 billion and $98 billion, or 2.8% to 4.9% annual sales growth. Full-year core earnings per share are now expected to be between $14.30 and $14.50, or 38.8% to 40.8% annual earnings growth.

Along with its strong earnings prospects, Boeing also offers a 2.0% annual dividend yield. The stock recently went ex-dividend on May 10. Shareholders of record will receive $1.71 per share on June 1. I must also mention that Boeing is in the process of buying back $18 billion of its stock. I expect that BA will maintain its altitude through the bumpy summer months, so I recommend you add this Moderately Aggressive stock up to $390 per share.

SOM Technicals:

4-27-18: Closed at 340.00. Trade pressures are up but declining to the neutral zone. Volumes are neutral. Holding at the 25×5 support of 331.00.

5-5-18: Closed at 334.43. Trade pressures are down but rising. Volumes are now bullish. The next long entry is 345.83.

5-11-18: Closed at 342.17. Trade pressures are up. Volumes have closed as neutral. The next target up is 371.60.

5-19-18: Closed at 351.25. Trade pressures are up. Volumes are bullish. The next target up is 371.60.

5-26-18: Closed at 360.09. Trade pressures are up.Volumes are bullish. The next target up is 372.40.

6-3-18: Closed at 356.72. Trade pressures are up but declining. Volumes are neutral. The next target up is 372.48.

6-8-18: Closed at 369.50. Trade pressures are up. Volumes are bullish. The next target up is 372.49.

6-16-18: Closed at 357.88. Trade pressures have turned down into the neutral zone. Volumes are bullish. The next support down is the lower median line at 345.00.

6-22-18: Closed at 338.91. Trade pressures are down. Volumes are bearish. The next target down is 335.98.

XPO Logistics, Inc.

XPO Logistics, Inc. (XPO) rounds out this month’s Top 5 list. As a refresher, XPO is a leading global logistics company that helps customers manage their goods more efficiently throughout their supply chains. Through its two reporting segments—Transportation and Logistics—XPO Logistics helps over 50,000 customers improve their productivity and lower costs. Just last week, Gartner, Inc. named XPO Logistics as a leader in third-party logistics worldwide. It recognized XPO for its extensive service offerings and infrastructure, as well as its ability to anticipate customer needs.

XPO shares rallied nearly 10% this month, on the strength of its excellent first-quarter earnings report. Compared with Q1 2017, net income skyrocketed 243% to $66.9 million, or $0.50 per share. Excluding special items, adjusted earnings per share was $0.61. This beat the $0.51 consensus EPS estimate by a whopping 19.6%. Over the same period, sales jumped 18.4% to $4.19 billion. Analysts were looking for $3.92 billion in revenue, so XPO posted a 6.9% sales surprise.

Encouraged by these strong results, XPO Logistics reaffirmed its 2018 guidance. This year, the company expects adjusted earnings of at least $1.6 billion and free cash flow of $1 billion. Meanwhile, analysts are calling for 74.4% annual earnings growth and 8.3% sales growth. XPO Logistics is widely recognized as a market leader, and it has plenty of upside potential in 2018. I recommend you add this Moderately Aggressive stock up to $118 per share.

SOM Technicals:

3-30-18: Closed at 101.81. Trade pressures are down into the neutral zone. Volumes are neutral. The next target up is 109.37.

4-7-18: Closed at 96.26. Trade pressures are in the neutral zone. Volumes are bearish. The next target up is 109.37.

4-14-18: Closed at 99.40. Trade pressures are still neutral. Volumes are bullish to neutral. The next target up is 109.37.

4-21-18: Closed at 104.44. Trade pressures are up. Volumes are bearish. Touched the 109.37 target and now pulling back. Support at 101.24.

4-27-18: Closed at 98.10. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is the 92.55.

5-5-18: Closed at 101.24. Trade pressures are down but rising. Volumes are now bullish. After reaching the 109.37 target pulled back to 91.64. The 109.37 is the next target up.

5-11-18: Closed at 109.07. Trade pressures are up. Volumes are bullish. the next target up is 119.00.

5-19-18: Closed at 109.50. Trade pressures are up. Volumes are neutral. The next target up is 119.00

5-26-18: Closed at 108.81. Trade pressures are up but turning down. Volumes are still bullish. The next target up is 119.00.

6-3-18: Closed at 106.67. Trade pressures are up but declining. Volumes are bearish to neutral. The next target up is 119.00. Support is the 25×5 moving average at 105.52.

6-3-18: Closed at 111.28. Trade pressures are rising in the neutral zone. Volumes are bullish. The next target up is 119.00.

6-16-18: Closed at 113.88. Trade pressures are up. Volumes are bullish. The next target up is 119.00.

6-22-18: Closed at 108.76. Trade pressures are down into the neutral zone. Volumes are bearish. At support, next support at 101.00.

Market Pressures_

Copper is now in a new move lower. Gold is moving higher. Silver still wants to go higher, but can’t get going.

Crude is in a retracement. Natural gas finally broke out to the upside.

The Us 30 Year Treasury Bonds are in a move up to the first target. Expect consolidation.

The Us Dollar futures are still in rally mode, but showing some divergences.

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S&P 500 Futures_

Monthly – In the move down from the 2662 short confirmation level. Trade pressures are still up but turning down. Volumes closed the month of April as neutral. The next target down is 2304. A close above 2883 would confirm and weekly move higher.

Weekly – In the move down from the 2803 level. Trade pressures are up. Volumes are bullish. The next target down is 2589. A close above 2796 would confirm any daily move higher.

Daily – Flat. In the  retracement move up inside the longer cycle down move. Trade pressures are up but moving down toward the neutral zone. Volumes have changed from bullish to bearish.

The next target up is 2753. This target is also in the midst of a cluster of resistance lines. expect a pullback, but any breakout to the upside should be significant.

The Navellier Top 5 have had a big week to the upside. Navellier is recommending a move to smaller capitalization companies to focus more on domestic earnings as the US Dollar rises.

Market Pressures_

Copper took a loss in the long trade. Gold as well. Trade pressures are stuck at neutral. Silver as well.

Crude oil remains in the move up. Natural gas remains without direction.

The US 30 year Treasury Bond has broken support.

The US dollar futures have resumed the move up after a brief pull back.

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S&P 500 Future_

Monthly – In the move down from the 2662 confirmation level. Trade pressures are up but turning down. Volumes closed the month of April as neutral. The next target down is 2304. A close above 2883 would confirm any weekly move higher.

Weekly – In the move down from the 2803 level. Trade pressures are now up. Volumes are bullish. The next target down is 2589. This rally needs to close above 2796 to confirm any daily move higher.

Daily – Flat. In the move up inside the monthly and weekly downward pressures. Trade pressures are up but tuning down. Volumes have turned to neutral.

In this move up from the 2629 level. The next target up is 2753.

There are downward pressures from time cycles until the 25th of May. A close below 2680 would signal lower once again.

As this quarter’s earnings season draws to a close, the Navellier Top 5 virtual portfolio continues the move up with slightly more than $13,000 in gains this calendar year.

#Market Pressures_

Copper is in a new long trade. Gold is also in a new long trade. Silver looks similar to Gold but the weekly pressures are in conflict.

Crude Oil has reached the upside target. Natural gas has no direction.

The US 30yr Treasury Bond futures are up in a retracement of the previous move down.

The US Dollar futures are at the target highs. Expect consolidation or retracement here.

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S&P 500 Futures_  #S&P500futures

Monthly – In the move down from the 2662 short confirmation level. Trade pressures are up but turning down. Volumes closed the month of April as neutral. The next target down is 2304. A close above 2883 would confirm any weekly move up.

Weekly – In the move down from the 2803 short confirmation level. Trade pressures are now up. Volumes have changed from bearish to bullish. The next target down is 2589. A close above 2796 would confirm any daily move up.

Daily – Flat. Closed at 2732. In retracement move up from the 2629 long entry level. Trade pressures are up. Volumes remain bullish.

Once price cleared the 2682 prior high pivot, then it was a quick three day move to test the 2718 resistance, as expected.

The next target up is 2753. There is thicket of resistance levels here and the commentariat suggests the market is over-priced at these levels. So could expect some consolidation and retracement here in the futures.

However, Navellier Research continues to expect better earnings performance. If true, then any correction should be muted. The Navellier Top 5 Stock portfolio that South Ocean follows is up more $12,000. This virtual $100,000 investment is out-performing the S&P by a nice margin.

Market Pressures_

Copper may have finished the downward retracement. Both Gold and Silver are showing signs of a turn upward.

Crude is very near the 62% move target. Natural Gas has no direction.

The US 30yr Treasury Bond futures are in a move back to the 145-00 levels.

The US Dollar futures are responding upward to the money flows into the dollar.

__________________

S&P 500 Futures

Monthly – In the move down from the 2662 level. Trade pressures are down. Volumes closed the Month of April as neutral. The next target down is 2304. A close above 2883 would confirm any weekly move higher.

Weekly – In the move down from the 2803 short confirmation level. Trade pressures have risen into the neutral zone. Volumes have changed from neutral to bearish. The next target down is 2589. A close above 2796 would confirm any daily move higher.

Daily – Flat. In the move down from the 2661 short level. Trade pressures are now up into the neutral zone. Volumes are bullish.

The prior 2592 downside target has been tested four times in this March and April time frame, including the breakdown to the 2562 lows. Price would now appear to be mounting a second test of the 2718 upside resistance. The Thursday low is a higher low. Now need to break above the 4/30 high of 2682.

With the Friday close at 2664, the next target up on the 60 min chart is at 2681. Expect resistance there. Wide bars are the order of the day.

The volatility seems to reside in the equity indices. The commodities are in a wait mode.

Navellier Research Top 5 Picks have moved up nicely on the earnings reports.