Category: S&P

S&P 500 Futures

Market Summary:

The 10yr yields rise. Copper makes a move up off the oversold levels, now near overbought.  Gold moves up late in the week after reaching oversold.  Silver moving up again; support rises to the low 29’s.

Crude turning down.  Natural gas continues the move down.

The US 30yr Treasury Bond turned up mid week. The 10yr yield turns down.

The US Dollar futures lower high signaled lower and quickly at the downside target.

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S&P 500 Futures   #ESU24

Monthly –Price showing signs of consolidation above 5500, however, still pushing higher. Trade pressures remain up. Volumes closed the month of June as bullish.  The next target up is 5958.  A close below 5315 would confirm any weekly move lower.

Weekly – The weekly now has a higher high for the weekly close.  Trade pressures remain up.  Volumes remain bullish.  Closed on the highs of the week at 5621.  A close below 5488 would confirm any daily move lower.

Daily – Flat.  At 5615, and the upper parallel, so some resistance is likely. Trade pressures are up.  Volumes are bullish.  The next target up is 5704. The expected overbought level has risen to 5559; again below the actual highs.  A close below the 5584 target would signal lower.  The expected oversold level rises to 5430,

[Support is at 5584.]

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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 $131,000. The Year-to-Date portfolio performance is now up 31%.

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

S&P 500 Futures

Market Summary:

The 10yr yields rise. Copper oversold.  Gold moves up late in the week after reaching oversold.  Silver moving up again; support rises to the low 29’s.

Crude meeting resistance.  Natural continues the move down.

The US 30yr Treasury Bond turned down mid week. The 10yr yield support levels moving up slowly.

The US Dollar futures now at price target; but other currencies under stress.

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S&P 500 Futures   #ESU24

Monthly –Price showing signs of consolidation above 5500. Trade pressures remain up. Volumes closed the month of June as bullish.  The next target up is 5958.  A close below 5277 would confirm any weekly move lower.

Weekly – The weekly has lower high for the weekly close.  Trade pressures remain up.  Volumes remain bullish.  Touched the 5585 target up but closed lower.  A close below 5277 would confirm daily move lower.

Daily – Flat.  The 5575 area finds resistance. Trade pressures are up but turning down.  Volumes remain bearish.  The expected overbought level has declined to 5509; again below the actual highs. The next target down is 5447. A close below the 5447 target also signals lower.  The expected oversold level rises to 5421,

Expect support of the lower bound of the parallel channel from the April low near 5437 .

[7-1-24: Short ESU24 at 5527.] [Set SL at entry price.] [Stopped out of the short intra day.]

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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 held values around  $129,000. The Year-to-Date portfolio performance is now up 29%.

Nutanix (NTNX) is replaced by Eli Lilly (LLY) at the next open.

S&P 500 Futures

Market Summary:

The 10yr yields flat. All metals lower. Copper down to lower median line.  Gold down sharply after breaking the lower median line.  Silver back in the channel down after an attempt to break out; support remains in the low 28’s.

Crude got the breakout.  Natural gas lower high signaled the move down.

The US 30yr Treasury Bond continues the move up; but showing resistance. The 10yr yield support levels now steady.

The US Dollar futures continue higher; OB and OS levels continue to trend higher.

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S&P 500 Futures   #ESU24

Monthly – June zips thru the 5504 upside target. Trade pressures remain up. Volumes closed the month of May as bullish.  The next target up is 5958.  A close below 5277 would confirm any weekly move lower.

Weekly – The weekly continues with higher weekly closes.  Trade pressures remain up.  Volumes remain bullish.  Touched the 5575 target up.  A close below 5277 would confirm daily move lower.

Daily – Flat.  The 5/3 rally corrected down to the lower parallel line, then resumed the move up and is now at the confluence of the 5576 upside target and the upper channel boundary. Trade pressures are up.  Volumes are now bearish..  The next target up is 5705. The expected overbought level has risen to 5524; again below the actual highs and below the upside target.    A close below 5447 would signal lower.  The expected oversold level rises to 5336.

[Watch the 5495 MA level, for signs of weakness and possible 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 recovered slightly for the week, to around  $129,000. The Year-to-Date portfolio performance is now up 29%.

S&P 500 Futures

Market Summary:

The 10yr yields decline. Copper continues lower.  Gold consolidating at the median line.  Silver in a channel down; support remains in the low 28’s.

Crude rallies; now looking for a breakout.  Natural gas makes a lower high with pressures down.

The US 30yr Treasury Bond rises after FED says “rate cut”. The 10yr yield support levels remain at 4.19%.

The US Dollar futures break out of the bull flag is looking higher; OB and OS levels both trend higher.

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S&P 500 Futures   #ESU24

Monthly – June zips thru the 5439 upside target. Trade pressures remain up. Volumes closed the month of May as bullish.  The next target up is 5958.  A close below 5208 would confirm any weekly move lower.

Weekly – The weekly continues with higher weekly closes.  Trade pressures remain up.  Volumes remain bullish.  The next target up is now the upper median line at 5593.  A close below 5208 would confirm daily move lower.

Daily – Flat.  The 5/3 rally corrected down to the lower parallel line, then resumed the move up and is now at the 5511 upside target. Trade pressures are up.  Volumes are bullish.  The next target up is 5575. The expected overbought level has risen to 5462; but below the actual highs and below the upside target.    A close below 5378 would signal lower.  The expected oversold level rises to 5296.

[Watch the 5450 MA level, for signs of weakness.]

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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 slightly again for the week, as the data center stocks hold around  $127,000. The Year-to-Date portfolio performance is now up 27%.

S&P 500 Futures

Market Summary:

The 10yr yields rises. Copper continues lower.  Gold down 79 points on Friday.  Silver continues the retracement down; support in the mid 28’s.

Crude turns down early in the week; now looking for support.  Natural rallies all week after finding support just above 2.40.

The US 30yr Treasury Bond fell sharply after the 10yr yield rises in response to the unexpectedly positive jobs number. The 10yr yield support levels at 4.22%.

The US Dollar futures breaks out of the bull flag and immediately reaches the overbought levels.

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S&P 500 Futures   #ESM24

Monthly – June continues the move up. Trade pressures remain up. Volumes closed the month of May as bullish.  The next target up is 5439.  A close below 5057 would confirm any weekly move lower.

Weekly – The weekly closes up above the prior two week closes.  Trade pressures remain up.  Volumes remain bullish.  The next target up is the upper median line at 5511.  A close below 5131 would confirm daily move lower.

Daily – Long.  The rally that started on 5/3 has had a correction down to the lower parallel line and then resumed the move up. Trade pressures are up.  Volumes are now bearish.  The expected overbought level has risen to 5372.    A close below 5252 would signal lower.  The expected oversold level rises to 5251.

5/31: The dip on Friday to 5201 was bought at the close and rallied the market by 90 points. The long entry was triggered at 5266.

[6/8: The next target up is 5432. Set the SL at 5338.]

[6-11-24: SL met at 5338. Out.  Look for dip to 5290 for re-entry.]

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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 again for the week, as the data center stocks dropped, to approximately $127,000. The Year-to-Date portfolio performance is now up 27%.

S&P 500 Futures

Market Summary:

Copper gives back all the May move up.  Gold retraces the May move also.  Silver continues the retracement down but appears to find support in the mid 29’s.

Crude still in consolidation, turns down again looking for support.  Natural gas turns lower; may find support at 2.40 oversold area.

The US 30yr Treasury Bond needs a move above the upper median line resistance. The 10yr yields still near 4.50% support levels.

The US Dollar futures continues the move down down; has formed a bull flag.

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S&P 500 Futures   #ESM24

Monthly – May closed just off the highs for the month. Trade pressures remain up. Volumes closed the month of May as bullish.  The next target up is 5439.  A close below 5057 would confirm any weekly move lower.

Weekly – The weekly closes down for the second week.  Trade pressures remain up; but still declining.  Volumes remain bullish.  The next target up is the upper median line at 5494.  A close below 5087 would confirm daily move lower.

Daily – Flat.  The rally started on 5/3 has had a correction down to the lower parallel line. Trade pressures are  down into the neutral zone.  Volumes are bullish.  The retracement back down to 5227 erased the prior move up from 5271.  The expected overbought level has declined to 5354.    A close below 5235 would signal lower.  The expected oversold level rises to 5221.

The dip on Friday to 5201 was bought at the close and rallied the market by 90 points. A long entry was triggered at 5266. The next target up is 5329.

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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 for the week, as Nutanix dropped, to approximately $131,000. The Year-to-Date portfolio performance is now up 31%.

 

S&P 500 Futures

Market Summary:

Copper retraces the spike of the prior week.  Gold starts higher then turns down.  Silver continues the second leg up but turns down late in the week.

Crude still in consolidation; volumes turning bullish..  Natural gas finds resistances at 200 day MA and turns lower.

The US 30yr Treasury Bond still showing resistance. The 10yr yields still near 4.50% support levels.

The US Dollar futures continue the move down down; but forming a bear flag.

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S&P 500 Futures   #ESM24

Monthly – May moving up to engulf the April 2024 move down. Trade pressures remain up. Volumes closed the month of April as bearish.  The next target up is 5439.  A close below 5030 would confirm any weekly move lower.

Weekly – The weekly closes up for the fourth week.  Trade pressures remain up; and still declining.  Volumes remain bullish.  The move up has reached the prior high. The next target up is the upper median line at 5468.  A close below 5057 would confirm daily move lower.

Daily – Flat.  The rally started on 5/3 continues. Trade pressures are up but declining.  Volumes are neutral.  The close above 5271 started a second leg up in the uptrend.  The expected overbought level has risen to 5360.    A close below 5225 would signal lower. First support at 5235. The Lower Median Line (LML) is at 5139. and is the projected target. The expected oversold level rises to 5210.

But, generally speaking, this is a bull market and dips should be bought.

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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 for the week to approximately $140,000. The Year-to-Date portfolio performance is now up 40%.

Eli Lilly (LLY) and Royal Caribbean (RCL) will be replaced by Nutanix (NTNX) and Targa Resources (TRGP) at the next open.

S&P 500 Futures

Market Summary:

Copper breaks much higher above recent high.  Gold continues the prior week rally.  Silver has dramatic second leg up.

Crude remains in consolidation; volumes turning bullish..  Natural gas continues the rally, but approaching resistances.

The US 30yr Treasury Bond showing resistance. The 10yr yields still near support levels.

The US Dollar futures continue the move down down; but nearing support levels.

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S&P 500 Futures   #ESM24

Monthly – May moving up to erase the April 2024 move down. Trade pressures remain up. Volumes closed the month of April as bearish.  The next target up is 5439.  A close below 5030 would confirm any weekly move lower.

Weekly – The weekly closes up for the fourth week.  Trade pressures remain up; and still declining.  Volumes remain bullish.  The move up has reached the prior high. The next target up is the upper median line at 5464.  A close below 5038 would confirm daily move lower.

Daily – Flat.  The rally started on 5/3 continues. Trade pressures are up.  Volumes remain bullish.  The close above 5271 started a second leg up in the uptrend.  The expected overbought level has risen to 5324.  The expected oversold level rises to 5133.  A close below 5284 would signal lower.

At resistance now. Watching the 10 yr yield. NVDA earnings are announced May 21st and could provide the catalyst for a market move either way.

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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 for the week to approximately $134,000. The Year-to-Date portfolio performance is now up 34%.

S&P 500 Futures

Market Summary:

Copper breaks higher after a small pullback.  Gold breaks resistance for a late week rally.  Silver, similarly, breaks the trendline resistance and moves higher.

Crude remains in consolidation, still looking weaker.  Natural gas continues the rally, but now at trendline support.

The US 30yr Treasury Bond move higher meets resistance. The 10yr yields have dropped to support levels.

The US Dollar futures continue the move down from the 106 resistance levels.

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S&P 500 Futures   #ESM24

Monthly – May still retracing the April lows. Trade pressures remain up. Volumes closed the month of April as bearish.  The next target up is 5439.  A close below 5022 would confirm any weekly move lower.

Weekly – The weekly closes up off the October median line.  Trade pressures remain up, but declining.  Volumes remain bullish.  The 4986 downside target was touched at that median line. The next target up is the prior high at 5333. Closed again higher at 5246, which continues the confirmation of the daily move higher.

Daily – Long.  The lower median line at 5039 provided support for the ensuing rally starting on 5/3 which is now at 5246. Trade pressures are up.  Volumes remains bullish.  The close above 5237 new long entry provided additional confirmation.  The expected overbought level has risen to 5266.  The expected oversold level rises to 5025.

Again, near the overbought levels. Look for another dip to close the 5145 LML.

[5-6-24: Closed above the 5166 downtrend line and above the 5195 resistance for a new long entry.]

[5-8-24: Overbought levels are now 5215. Set SL at 5166.]

[5-10-24: Raise SL to 5222.]

[5-14-24: Stopped out in the AM PPI spike down; with a gain.]

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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 move up for the week to approximately $135,000. The Year-to-Date portfolio performance is now up 35%.

S&P 500 Futures

Market Summary:

Copper remains strong with a new long entry.  Gold correction continues, still at support.  Silver hit the profit stop and is now in correction remains near support.

Crude remains in consolidation looking weaker.  Natural gas finally rallies, but still in downtrend.

The US 30yr Treasury Bond moves slightly higher. The 10yr yields off the highs.

The US Dollar futures move down from the 106 resistance levels.

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S&P 500 Futures   #ESM24

Monthly – May begins up off the April lows. Trade pressures remain up. Volumes closed the month of April as bearish.  The next target up is 5439.  A close below 5022 would confirm any weekly move lower.

Weekly – The weekly closes up off the October median line.  Trade pressures remain up, but declining.  Volumes remain bullish.  The 4986 downside target was touched at that median line. The next target down is 4771. Closed above the prior week’s high at 5146 confirms the daily move higher.

Daily – Flat.  After moving down to oversold levels started a move up and closed above the 4/29 prior pivot high and now near overbought levels. Trade pressures are up.  Volumes are bullish.  The next target up is a test of the 5195 resistance.  The overbought level is 5125.  The expected oversold level is rising to 4975.

At overbought levels. Look for another dip to close the 5092 gap to enter any new long.

[5-6-24: Closed above the 5166 downtrend line and above the aforementioned 5195 resistance for a new long entry.]

[5-8-24: Overbought levels are now 5215. Set SL at 5166.]

[5-10-24: Raise SL to 5222.]

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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, portfolio hold steady to remain unchanged, at approximately $130,000. The Year-to-Date portfolio performance closes up 30%.

 

 

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