Market Summary:

Copper near oversold.  Gold in new sideways channel, looking for the 2014 oversold level.  Silver pulls back to retest the breakout.

The Crude now long as GDP looks positive.  Natural gas remains in the downtrend, now needs 1.90 to get long.

The US 30yr Treasury Bond selling off with the 10yr yields rising.

The US Dollar futures in the move up, but overbought.

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S&P 500 Futures   #ESH24

Monthly – February continues the new highs. Trade pressures remain in the neutral zone. Volumes closed the month of January as bullish.  The next target up is 5173.  A close below 4737 would confirm any weekly move lower.

Weekly – The weekly rallies above the prior week highs once again.  Trade pressures remain up.  Volumes are bullish.  The next target up is 5390.  A close below 4915 would confirm any daily move lower.

Daily – Flat, In the new move up after the close above 4926 into new highs.  Trade pressures are up.  Volumes remain bullish.  The next target up is 5079.  The overbought level rises to 5018; still below the next target up. So, expect consolidation and retracement.  A close below 5026 would signal lower. The expected oversold level rises to 4850.

[2-13-24: Short at 5020.  Set SL at 5040.  TP at 4918.]

[2-14-24: Lower SL to the breakeven, 5020.] [2-14-24: Stopped out at the Close.]

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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.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024 closed much higher, with the move in the AI related stocks, at approximately $119,000. The Year-to-Date portfolio performance closed up 19%.

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

Market Summary:

Copper long is stopped out.  Gold breaks out of channel, now retesting.  Silver pulls back to retest the breakout.

The Crude long entry fails at 78..  Natural gas remains in the downtrend, needs 2.10 to get long.

The US 30yr Treasury Bond breaks out then pulls back.  10yr rates rise again.

The US Dollar futures breaks out of consolidation as international money flows come this way.

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S&P 500 Futures   #ESH24

Monthly – February continues the new highs. Trade pressures remain in the neutral zone. Volumes closed the month of January as bullish.  The next target up is 5173.  A close below 4687 would confirm any weekly move lower.

Weekly – The weekly rallies above the prior week highs again.  Trade pressures remain up.  Volumes are bullish.  The next target up is 5390.  A close below 4865 would confirm any daily move lower.

Daily – Flat, In the new move up after the close above 4926 into new highs.  Trade pressures are down but rising.  Volumes remain bullish.  The next target up is 5079.  The overbought level rises to 4950; still below the next target up. So, expect consolidation and retracement.  A close below 4936 would signal lower. The expected oversold level rises to 4801.

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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.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024 closed higher at approximately $109,000. The Year-to-Date portfolio performance closed up 9%.

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

Market Summary:

Copper a new long with resistance nearby.  Gold in the downtrend channel, still looking lower.  Silver tests the resistance line once more and succeeds.

The Crude’s third attempt at a long entry finally succeeds.  Natural gas in the downtrend, needs 2.25 to get long.

The US 30yr Treasury Bond in retracement.  10yr rates continue to rise.

The US Dollar futures in consolidation for this next week.

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S&P 500 Futures   #ESH24

Monthly – January turns higher still. Trade pressures remain in the neutral zone. Volumes closed the month of December as bullish.  The next target up is 5173.  A close below 4623 would confirm any weekly move lower.

Weekly – The weekly rallies above the prior week highs.  Trade pressures remain up.  Volumes are bullish.  The next target up is 5390.  A close below 4801 would confirm any daily move lower.

Daily – Flat, In the new move up after the close above 4859 into new highs.  Trade pressures are up.  Volumes remain bullish.  The next target up is 5079.  The overbought level rises to 4925; still below this next target up; so, expect consolidation and retracement.  A close below 4890 would signal lower. The expected oversold level rises to 4750.

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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.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024 closed at approximately $101,000. The Year-to-Date portfolio performance closed up 1%.

Top Build (BLD) and Toll Brothers (TOL) will be replaced with Coca-Cola Consolidated (COKE) and Super Micro Computer (SMCI at the open of the next trading day.

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

Market Summary:

Copper finding support at the lower median line.  Gold rallied hard off the lower channel bound then gives it all back.  Silver fails at the resistance line.

The Crude at third attempt at a long entry.  Natural gas turns down hard in the downtrend.

The US 30yr Treasury Bond in retracement.  10yr rates are rising.

The US Dollar futures break thru the trendline and rally hard.

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S&P 500 Futures   #ESH24

Monthly – January turns higher. Trade pressures remain in the neutral zone. Volumes closed the month of December as bullish.  The next target up is 5173.  A close below 4562 would confirm any weekly move lower.

Weekly – The weekly turns down off the 4841 highs.  Trade pressures remain up.  Volumes remain neutral.  The next target up is 4926.  A close below 4741 would confirm any daily move lower.

Daily – Flat, In the new move up after the close above 4859 into new highs.  Trade pressures are up.  Volumes remain bullish.  The next target up is 4926.  The overbought level rises to 4815; still well below the next target up; so, expect further retracement.  A close below 4746 would signal lower. The expected oversold level rises to 4701.

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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.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024 closed at approximately $102,000. The Year-to-Date portfolio performance closed up 2%.

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

Market Summary:

Copper still in a retracement down.  Gold rallied hard off the lower channel bound.  Silver rallies to the resistance line.

The Crude fails second attempt at a long entry.  Natural gas continues the rise in the downtrend.

The US 30yr Treasury Bond in retracement.  10yr rates are selling off.

The US Dollar futures can’t get above the November downward trendline.

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S&P 500 Futures   #ESH24

Monthly – January begins with a selloff, but seemingly, no follow thru. Trade pressures remain down into the neutral zone. Volumes closed the month of December as bullish.  The next target up is 5173.  A close below 4530 would confirm any weekly move lower.

Weekly – The weekly turns down off the 4841 highs.  Trade pressures remain up.  Volumes remain neutral.  The next target up remains 4895.  The next target down is 4701 and would confirm any daily move lower.

Daily – Flat, In the move down after a lower high on 1/2.  Trade pressures are down.  Volumes remain bullish.  The next target up is 4859 which would be a new long entry.  The overbought level rises to 4797; well below the next target up.  Still expect lower.  A close below 4701 would signal lower. The expected oversold level rises to 4672.

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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.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024 closed at approximately $101,000. The Year-to-Date portfolio performance closed up 1%.

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

Market Summary:

Copper still in a retracement down.  Gold near lower channel bound.  Silver continues lower.

The Crude fails new long entry; now making a second attempt.  Natural gas continues the rise in the downtrend.

The US 30yr Treasury Bond in retracement to Median Line. Continue watching 10yr rates, they are at the overbought levels.

The US Dollar futures back above the Median Line. A test of the November downward trendline is next.

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S&P 500 Futures   #ESH24

Monthly – January begins with a selloff. Trade pressures remain down into the neutral zone. Volumes closed the month of December as bullish.  The next target up is 5173.  A close below 4530 would confirm any weekly move lower.

Weekly – The weekly turns down off the 4841 highs.  Trade pressures remain up.  Volumes are now neutral.  The next target up remains 4895.  The next target down is 4701 and would confirm any daily move lower.

Daily – Flat, In the move down after a lower high on 1/2.  Trade pressures are down.  Volumes remain bullish.  The next target up is 4901.  The overbought level is 4782, well below the next target up.  Expect lower.  A close below 4701 would signal lower. The expected oversold level is 4660.

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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.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio values for 2024 closed at approximately $98,000. The Year-to-Date portfolio performance closed down 2%.

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

Market Summary:

Copper in a retracement down.  Gold retraces at the upside channel bound.  Silver breaks down after failed retest of the previous highs.

The Crude fails new long entry; now moving down to test prior lows.  Natural gas continues the rise in the downtrend.

The US 30yr Treasury Bond reached upside target of 125-25. Expect retracement; watching 10yr rates.

The US Dollar futures fail at the upper channel of the downtrend.  Falling below the Median Line.

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S&P 500 Futures   #ESH24

Monthly – December closes the year approaching all time highs. Trade pressures remain down into the neutral zone. Volumes closed the month of December as bullish.  The next target up is 5173.  A close below 4530 would confirm any move lower.

Weekly – The weekly continues the move up off the 4362 long entry on 11/03 and has closed just below the oversold level of 4891.  Trade pressures remain up.  Volumes remain bullish.  The next target up is 4926. A close below 4570 would confirm any daily move lower.

Daily – Flat, In the move up after the 12/13 break above the 4716, triggering a long entry for a third leg up.  Trade pressures are up but declining.  Volumes remain bullish.  Year-end closed at 4820, above the the 4844 target.  The next target up is 4901.  A close below 4701 would signal lower. Year-end selling in the major indices suggest more follow thru selling after the New Year starts.

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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.

Portfolio values closed at approximately $117,000. The Year-to-Date portfolio performance closed up 17%.

Nvidia (NVDA) and Novo-Nordisk (NVO) are replaced with Royal Caribbean Cruises (RCL) and TopBuild Corp (BLD).

The Portfolio profit will be realized and the stocks will be rebalanced to reflect the new starting balance of $100,000 as of the first trading day of the year.

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

Market Summary:

Copper long in second attempt to close above the 200 day.  Gold rallies inside the downward channel.  Silver breaks out of the downward channel with a large gap up.

The Crude fails support, looking for a new long entry around 76.  Natural gas rising in the downtrend.

The US 30yr Treasury Bond reached upside target of 120-22, backed off and then ran up again.

The US Dollar futures fail at the upper channel of the downtrend.  Down below the 200 day rising to fill the downside gap.

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S&P 500 Futures   #ESH24

Monthly – December trades above the Summer 2023 highs. Trade pressures remain down into the neutral zone. Volumes closed the month of November as neutral.  The next target down is 4478.  The next target up is 5173.  A close below 4478 would confirm any move lower.

Weekly – The weekly continues the move up off the 4362 long entry on 11/03 and has closed above the upper median line (4705).  Trade pressures remain up.  Volumes have closed the week as bullish again.  The next target up is 4926. A close below 4520 would confirm any daily move lower.

Daily – Flat, In the move up after the 11/10 break above the 4466, triggering a long entry for a second leg up.  Trade pressures are up.  Volumes remain bullish.  Friday closed at 4791 above the late July highs.  The next target up is 4844.  A close below 4651 would signal lower. Expect a choppy market for the rest of the month/year.

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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.

Portfolio values closed at approximately $114,000. The Year-to-Date portfolio performance is now up 14%.

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

Market Summary:

Copper retraces below the 200 day MA, now rallies to open a new long.  Gold rallies in retracement, consolidating at the 200 day MA.  Silver breaks down after the sharp rally; breaks below the 200 day MA.

The Crude fails support, looking for a new long entry.  Natural gas downtrend showing signs of basing.

The US 30yr Treasury Bond reached upside target of 120-22.  Expect consolidation and retracement.

The US Dollar futures move out of downtrend.  Pressures still rising, now in the neutral zone.  .

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S&P 500 Futures   #ESH24

Monthly – December trades above the November highs. Trade pressures remain down into the neutral zone. Volumes closed the month of November as neutral.  The next target down is 4073. This November close above the upper median line (UML) confirms the weekly move higher. Expect consolidation and a back-test (4460) of the breakout. The next target up is the 4736 prior high.

Weekly – The weekly continues the move up off the 4310 long entry on 11/03 and has closed above the 44639 upside target.  Trade pressures are now up.  Volumes have closed the week as bullish again.  The next target up remains the upper median line at 4697.

Daily – Flat, the move up after the break above the 4475 (adjusted) long entry on 11/10 continues.  Trade pressures are up.  Volumes remain bullish.  Friday closed again above the September and October highs at 4660.  The next target up is 4657.  A close below 4543 would signal lower.  Multiple resistance levels just higher at 4700.  Expect consolidation and retracement at 4700.

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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.

Portfolio values closed at approximately $109,000. The Year-to-Date portfolio performance is now up 9%.

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

Market Summary:

Copper breaks above the 200 day MA.  Gold rallies to the upper median line, expect consolidation.  Silver continues the sharp move up after breaking the 200 day MA.

The Crude consolidating at the lower median line, expect support. Natural gas downtrend accelerating.

The US 30yr Treasury Bond higher. Are lower rates signaling recession? Watch crude (lower) for that confirmation.

The US Dollar futures consolidating above the 200 day MA. Pressures still rising.

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S&P 500 Futures #ESZ23 [Contract rolls soon]

Monthly – November breaks above the downward sloping upper median line to signal higher. Trade pressures remain down into the neutral zone. Volumes closed the month of November as neutral.  The next target down remains 4025. This November close above the trend line confirms the weekly move higher. Expect consolidation and a back-test (4370) of the breakout. The next target up is 5170.

Weekly – The weekly continues the move up off the 4310 long entry on 11/03 and has closed above the 4586 upside target. Trade pressures are now up.  Volumes have closed the week as bullish again. The next target up is the upper median line at 4649.

Daily – Flat, the move up after the break above the 4426 long entry on 11/10 continues.  Took profits ahead of the rollover.  Trade pressures are up.  Volumes remain bullish.  Friday closed just above the September and October highs at 4600.75.  The next target up is 4643.  A close below 4491 would signal lower.  Multiple resistance levels just higher.  Expect consolidation and retracement.

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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.

Portfolio values closed at approximately $107,000. The Year-to-Date portfolio performance is now up 7%.

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