Market Summary:

The 10yr yields rise to 3.75%. Copper sharply higher.  Gold at new highs. Silver moves to new highs

Crude continues the pullback.  Natural higher again, but at new resistance.

The US 30yr Treasury Bond  poised for a new rally.

The US Dollar futures moving down in chop.

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S&P 500 Futures   #ESZ24

Monthly –Monthly bar close above the prior month high. Trade pressures remain up. Volumes closed the month of August as bullish.  The next target up 6019.  A break below 5488 would confirm any weekly move lower. The next target down then would be 5143.

Weekly – The weekly closes higher.  Trade pressures are now in the neutral zone. Volumes remain bullish.  Closed back above the prior long entry trigger at 5525. The next target up is 5890 (new highs).  A close below 5632 would confirm any daily move lower.

Daily – Flat. In the move up from 5581 on 9/11 and was stopped out at 5628 on 9/16.  Trade pressures are up.  Volumes are bullish.
The next target up is 5876. The expected overbought level has risen to 5792.
A close below  5761 would signal lower. The expected oversold level declines to 5609.

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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 2024 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.  The portfolio value remains at $141,000. The Year-to-Date portfolio performance is now up 41%.

Wingstop (WING) will be replaced by Targa Resources (TRGP) at the Monday open.

[The author may be long or short any of these issues mentioned]

Market Summary:

The 10yr yields decline to the 3.65%. Copper breaks out of the downward channel.  Gold breaks above the consolidation to new highs. Silver stopped out of short and moves above the downtrend lines.

Crude signals a new long, butt lack volume.  Natural gas continues the move up, but at resistance.

The US 30yr Treasury Bond  rallied on interest rate cut prospects, but now in consolidation.

The US Dollar futures moving sideways in a wide channel.

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S&P 500 Futures   #ESZ24  Dec Contract

Monthly –Monthly bar closes above the prior month high. Trade pressures remain up. Volumes closed the month of August as bullish.  The next target up 6019.  A break below 5473 would confirm any weekly move lower. The next target down then would be 5126.

Weekly – The weekly closes up, engulfing the prior down bar.  Trade pressures are now near the neutral zone. Volumes remain bullish.  Closed back above the prior long entry trigger at 5525. The next target up is 5899 (new highs).  A close below 5451 would confirm any daily move lower.

Daily – Flat. In the move up from 5581 on 9/11.  Trade pressures are up.  Volumes are bullish.  The next target up is 5729. The expected overbought level has risen to 5644. A close below  5646 would signal lower. The expected oversold level declines to 5392.

[9-16-24:The ESU24 September long contract closed]

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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 2024 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.  The portfolio value moves up to $141,000. The Year-to-Date portfolio performance is now up 41%.

[The author may be long or short any of these issues mentioned]

Market Summary:

The 10yr yields decline to the 3.70%. Copper declines.  Gold retested the highs and declined.  Silver remains a short.

Crude drops to support.  Natural gas in a new move up.

The US 30yr Treasury Bond  rallies on interest rate cut prospects.

The US Dollar futures pull back but still long long.

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S&P 500 Futures   #ESU24

Monthly –Monthly bar closes below the prior month low. Trade pressures remain up. Volumes closed the month of August as bullish.  The next target up remains 5958.  The close was just above the 5412; a break below would confirm the weekly move lower. The next target down would be 5067.

Weekly – The weekly closes down hard.  Trade pressures remain up, but continuing to show lower highs.  Volumes remain bullish.  Closed back below the new long entry trigger at 5454. The next target up is still 5829 (new highs).  A close below 5372 would confirm the daily move lower.

Daily – Short. In the move down after the break of the 5527 level. The short trade was stopped out with a profit stop at 5485, only to fall another 65 points. Trade pressures are down.  Volumes are bearish.  The next target down is 5369. The expected oversold level declines to 5452. A close above 5497 would signal higher. The expected overbought level has declined to 5634.

Should expect some reflex rally here. Set 5476 as a SL for the short.

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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 2024 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.  The portfolio value moves down to $138,000. The Year-to-Date portfolio performance is now up 38%.

[The author may be long or short any of these issues mentioned]

Market Summary:

The 10yr yields rising toward 4.00%. Copper is consolidating.  Gold is a short.  Silver is a short.

Crude long failed, now a short.  Natural gas rising.

The US 30yr Treasury Bond looking lower.

The US Dollar futures now long.

_________________

S&P 500 Futures   #ESU24

Monthly –Wide ranging bar closes on it’s high. Trade pressures remain up. Volumes closed the month of August as bullish.  The next target up remains 5958.  A close below 5412 would confirm any weekly move lower. The next target down would be 5067.

Weekly – The weekly closes just above the prior highs.  Trade pressures remain up but showing lower highs.  Volumes remain bullish.  Closed above the new long entry at 5454 on 8/23. The next target up is 5829 (new highs).  A close below 5381 would confirm any daily move lower.

Daily – Flat. Reverses the two day move down and rallies to test the downtrend line at 5665. Trade pressures are up but declining.  Volumes remain bullish.  The next target up is the 5721 prior high; then 5813. The expected overbought level has declined to 5647.  A close below 5527 would signal lower. The expected oversold level rises to 5506.

Both NVDA and the Inflation reports were benign. The market was quiet except for the rally at the close to square up positions into the 3 day, Labor Day weekend.

[9-4-24: Short entry triggered at 5527. Wait for a back-test at 5600 to enter if resistance holds.]

[9-5-24: Rallied back to broken support at 2555, short.  Set SL at 5557.  Take profits at 5485 ]

[9-6-24: Profit stop hit for a gain.]

___________________

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 2024 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.  The portfolio value moves up to $141,000. The Year-to-Date portfolio performance is now up 41%.

[The author may be long or short any of these issues mentioned]

At the open on September 3rd, WingStop (WING) and Costco (COST) will replace Targa Resources (TRGP) and Vertiv (VRT).

Market Summary:

The 10yr yields consolidating below 4.00%. Copper is correcting.  Gold correcting, possible short.  Silver correcting.

Crude now a short.  Natural gas pulls back in the uptrend.

The US 30yr Treasury Bond looking lower.

The US Dollar futures basing at 100.58 target.

_________________

S&P 500 Futures   #ESU24

Monthly –Wide ranging bar remains above the prior month’s close. Trade pressures remain up. Volumes closed the month of July as bullish.  The next target up remains 5958.  A close below 5412 would confirm any weekly move lower. The next target down would be 5067.

Weekly – The weekly close near prior highs.  Trade pressures remain up but are still declining.  Volumes are bullish.  Closed above the new long entry at 5454. The next target up is 5829 (new highs).  A close below 5362 would confirm any daily move lower.

Daily – Flat. Breaks below the rising channel upper band at 5626 on 8/28. Trade pressures are up.  Volumes are bullish.  The next target up is the 5664 resistance; then 5813. The expected overbought level has risen to 5663.  A close below 5527 would signal lower. The expected oversold level rises to 5395.

Waiting for NVDA.

___________________

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 2024 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.  The portfolio value moves up to $138,000. The Year-to-Date portfolio performance is now up 38%.

[The author may be long or short any of these issues mentioned]

Market Summary:

The 10yr yields hold below 4.00%. Copper correcting.  Gold correcting, possible short.  Silver correcting.

Crude now a short.  Natural gas pulls back in the uptrend.

The US 30yr Treasury Bond attempts rally but fails into the weekly close.

The US Dollar futures are rising near support at 100.58.

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S&P 500 Futures   #ESU24

Monthly –Wide ranging bar to close above the prior month’s close. Trade pressures remain up. Volumes closed the month of July as bullish.  The next target up remains 5958.  A close below 5412 would confirm a weekly move lower. The next target down is 5067.

Weekly – The weekly close moves up sharply off the October median line support.  Trade pressures remain up but are still declining.  Volumes are bullish.  Closed above the new long entry at 5454. The next target up is 5829 (new highs).  A close below 5570, the prior week’s low, would confirm any daily move lower.

Daily – Flat. Breaks below the rising channel lower band at 5603. The next target up is the 5666 trend resistance. Trade pressures are up.  Volumes are bullish.  The expected overbought level has risen to 5663.  A close below 5527 would signal lower. The expected oversold level rises to 5345.

Waiting for NVDA.

___________________

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 2024 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.  The portfolio value moves up to $139,000. The Year-to-Date portfolio performance is now up 39%.

[The author may be long or short any of these issues mentioned]

Market Summary:

The 10yr yields hold below 4.00%. Looking for Copper to break out above the bull flag.  Gold rallies to the upper median line and is now consolidating.  Silver breaks above the downtrend, but no follow thru.

Crude now a long.  Natural gas signals higher.

The US 30yr Treasury Bond turned lower.

The US Dollar futures rising to test the 200 day MA .

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S&P 500 Futures   #ESU24

Monthly –Drops to a 62% target. Trade pressures remain up. Volumes closed the month of July as bullish.  The next target up remains 5958.  The close below 5393 did confirm the weekly move lower. The next target down is 4804.

Weekly – The weekly close just above the October Median line which is now providing support.  Trade pressures remain up but are declining.  Volumes have changed back to bullish.  Traded down to the 5159 target the rallied sharply. The next target down is still 5159.  A close above 5454 would confirm any daily move higher.

Daily – Flat. At the top of the uptrend channel. Need a pullback to the lower channel to enter a long. The downtrend has been broken, but a back test is likely. Trade pressures remain down.  Volumes remain bearish.  The expected overbought level has declined to 5408.  The next target down is 5229, but the expected oversold level declines to 5108.

Need a close above 5454 to confirm the rally.

[8-8-24: In the move off the 5120 low pivot. Expect a rally to 5491, then a test of the lower channel band at 5229. Make a new long decision there.]

___________________

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 2024 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.  The portfolio moved up to $128,000. The Year-to-Date portfolio performance is now up 28%.

[The author may be long or short any of these issues mentioned]

Market Summary:

The 10yr yields decline below 4.00%. Second copper bull flag forms, basing.  Gold rallies to the upper median line.  Silver is basing.

Crude continues lower.  Natural gas continues the move down.

The US 30yr Treasury Bond turns higher, now at resistance.

The US Dollar futures fall below the 200 day MA to the April median line.

_________________

S&P 500 Futures   #ESU24

Monthly –The 5700 level provides resistance. Trade pressures remain up. Volumes closed the month of July as bullish.  The next target up remains 5958.  The close below 5393 would confirms the weekly move lower.

Weekly – The weekly close below the UML which is now providing resistance.  Trade pressures remain up.  Volumes have changed to bearish..  Trade down thru the 5580 short entry. The next target down is 5159.  A close above 5666 would confirm any daily move higher.

Daily – Flat. Shorted the move down from 5628 on 7/18 and closed on 7/26 at 5450. The uptrend has been broken. Trade pressures are down.  Volumes are bearish.  The expected overbought level has declined to 5565.  The next target down is 5122, but the expected oversold level declines to 5357.

Need a close above 5432 to restart the rally.

[8-8-24: In the move off the 5120 low pivot. Expect a rally at 5400, then a test of the lower channel band at 5200. Make a new long decision there.]

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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 2024 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.  The portfolio moved down to $123,000. The Year-to-Date portfolio performance is now up 23%.

Eli Lilly (LLY) and Emcor (EME) have been replaced by Allstate Insurance (ALL) and Coca-Cola Bottling (COKE) on the 29th of July.

[The author may be long or short any of these issues mentioned]

Market Summary:

The 10yr yields rally. Copper bull flag fails, looking lower.  Gold turns down at the trendline resistance.  Silver breaks support.

Crude continues lower.  Natural gas continues the move down.

The US 30yr Treasury Bond retesting the breakout.

The US Dollar futures rally off the 200 day MA.

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S&P 500 Futures   #ESU24

Monthly –The 5700 level has provided resistance. Trade pressures remain up. Volumes closed the month of June as bullish.  The next target up remains 5958.  A close below 5419 would confirm any weekly move lower.

Weekly – The weekly close below the UML which is now providing resistance.  Trade pressures remain up.  Volumes have changed to bearish..  Trade down thru the 5588 short entry. The next target down is 5440.  A close above 5618 would confirm any daily move higher.

Daily – Short.  In the move down from 5628 on 7/18. The market was ready for a correction and just needed a trigger; CrowdStrike provided that. Trade pressures are down.  Volumes are bearish.  The expected overbought level has risen to 5674.  The next target down is 5492.  The expected oversold level rises to 5528 which corresponds to the lower channel band. Might have a rally 5492 and 5530.

Need a close above 5596 to restart the rally.

[Trend is at 5634. Support is at 5530]

[7-30-24: close the short at 5450.]

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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 2024 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.  The portfolio moved down to $129,000. The Year-to-Date portfolio performance is now up 29%.

[The author may be long or short any of these issues mentioned]

Market Summary:

The 10yr yields decline. Copper in a small bull flag, looking for the breakout.  Gold moves up sharply on interest rate cut expectations.  Silver selling off; support rises to the low 30’s.

Crude makes lower high, turning down.  Natural gas continues the move down.

The US 30yr Treasury Bond breaks above the upper median line at 118-30. The 10yr yield turns down.

The US Dollar futures  continues lower, now at the 200 day MA.

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S&P 500 Futures   #ESU24

Monthly –Consolidation at 5500 was short lived, still pushing higher. Trade pressures remain up. Volumes closed the month of June as bullish.  The next target up remains 5958.  A close below 5397 would confirm any weekly move lower.

Weekly – The weekly close above the UML signals upside strength.  Trade pressures remain up.  Volumes remain bullish.  Touched the 5704 upside target and pulled back.  A close below 5575 would confirm any daily move lower.

Daily – Flat.  At 5667, which is the third touch of the upper channel resistance. A break above this upside resistance would be a sign of strength of the bullish trend (fuel / dollar inflows), but a correction would be more healthy. Trade pressures are up.  Volumes are bullish.  Met the 5704 target. The expected overbought level has risen to 5662.  A close below the 5622 target would signal lower.  The expected oversold level rises to 5464.

GDP growth is expected to decline marginally. So, looking for companies with growth to counter the slowdown. Defensive sectors will benefit.

[Trend is at 5622. Support is at 5513]

A look at he other indices show the Russell 2000 rising, the S&P 500 selling, the Nasdaq selling, and the DOW 30 rising. This is more indicative of $’s moving to beneficiaries of interest rate cuts.  Don’t expect a large general market decline, but a reallocation out of the companies/sectors that have had huge moves up.

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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 2024 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.  The portfolio moved up to $133,000. The Year-to-Date portfolio performance is now up 33%.

[The author may be long or short any of these issues mentioned]