Featured
S&P 500 Futures
Market Summary:
Copper now a new short. Gold and silver both new shorts.
Crude lower. Iran very aware of the mid-term elections and happy to inflict pain on trump.
Natural Gas breakout stalling.
The US 30yr Treasury lower as the 10yr yield rises to 4.53%.
The expected overbought level for the 10yr yield declines to 4.57%.
The US Dollar – The higher yields/inflation worries are causing the equity market to sell off, sending $’s to the USD.
_________________
S&P 500 Futures #ESM26, #MESM26
Monthly –Monthly bar making new ATH’s. Trade pressures remain up, but still declining. Volumes closed the month of May as bullish. The 7632 price is the adjusted high. The next target up remains 7615. A close below 7321 would confirm any weekly move lower.
Weekly – The weekly bar higher off the Oct 31 resistance line which remains support at 7283. Trade pressures remain up. Volumes remain bullish. The next target up remains 7615. A close below 7457 would confirm any daily move lower.
Daily – Short. From 7535 on 6/5. Trade pressures are down, Volumes are bearish.
The next target down is 7262. The expected oversold level rises to 7452.
A close above 7488 would signal higher. The expected overbought level rises to 7652.
[OB/OS trend is rising.]
The VIX closes above 19 at 21.51, indicating market is in the chop/yellow zone.
The Hedgeye.com VIX risk range is 14.88 – 17.24.
[6-5-26: Set the SL at 7439. Take short profits at 7331.]
[6-7-26: Stopped out at 7439 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 reset to start at $100,000 for the 2026 year.
These Navellier Top 5 portfolio stocks closed:
Down 35% for the 2022 Year.
Up 17% for the 2023 Year.
Up 42% for the 2024 Year.
Up 48% for the 2025 Year
Portfolio stock values for 2026.
The portfolio value down for the week, at $163,000.
The Year-to-Date portfolio performance is up 63%.
The Hedgeye GDP nowcast has rising growth projected thru July, then slowing. This “up 67%” needs to be protected/taken at the first evidence of GDP slowing. Market down hard, these days are never just one day events; wait to sell into short covering, with the intent to buy back into the July Fed inflation print.
The S&P 500 YTD return is 10.79%
US$$
#usdollarfutures #ustreasurybondfutures
USD_ DXM26
Weekly – In the March 2026 uptrend. Trade pressures are up. Volumes are now bullish.
Daily – Long. Breaks out of channel at 99.27 on 6/3. Yields rise, OB level declines. Trade pressures are down. Volumes are now bearish.
The next target up is 100.13. The expected overbought level rises to 99.64.
A close below 99.36 would signal lower. The expected oversold levels declines to 98.84.
[The OB/OS channel is widening.]
US30YR T-BOND_ USU26
Weekly – In the March 2026 downtrend. Trade pressures rise into the neutral zone. Volumes remain neutral.
Daily – Flat. Met resistance at 113-01 and is pulling back. Trade pressures are down. Volumes are bearish.
The next target down is 110-28. Oversold levels decline to 110-25.
A close above 112-09 would signal higher. Overbought levels decline to 113-12.
[The OB/OS channel is declining.]
10yr yields rise to 4.53%. The overbought level declines to 4.62.
Oil & Gas
#crudeoilfutures #naturalgasfutures
CRUDE_ CLN26
Weekly – In the January 2026 uptrend. Trade pressures are down. Volumes are bearish.
Daily – Flat. Remains in the move down from 101.70 on 5/20. Trade pressures are down. Volumes remain bearish.
The next target down is 87.57. The expected oversold level declines to 87.26.
A close above 94.18 would signal higher. The expected overbought levels declines to 97.93.
[OB/OS channel is declining.]
OVX (oil volatility) holds at 57.
(One of the larger components in the measure of inflation.The Hedgeye.com inflation nowcast now expects inflation rising above 4% in June 17th FED report of May then declining into the July meeting.)
NAT GAS_ NGN26
Weekly – In the January 2025 uptrend. Trade pressures are now up. Volumes remain bearish.
Daily – Flat, Stopped out of 3.10 long at 3.22 on 6/5. Trade pressures are up. Volumes are are now neutral.
The next target down is 3.16. The expected oversold level rises to 3.04.
A close above 3.26 would signal higher. The expected overbought level rises to 3.52.
[OB/OS channel is rising.]
Natural gas is produced with oil production. Natural gas production as a ratio of oil production has been rising, amounting to 47% of the permian basin oil production in 2024.
Metals
#copperfutures #goldfutures #silverfutures
COPPER_ HGN26, MHGN26
Weekly – In the October 2025 uptrend. Trade pressures remain up. Volumes are bearish.
Daily –Short. Breakdown below 6.32 tirggers the short trade on 6-5. Trade pressures are down. Volumes are bearish.
The next target down is 6.13. The expected oversold levels rise to 6.21.
A close above 6.42 would signal higher. The expected overbought levels rise to 6.65.
[OB/OS channel is rising.]
[6-6-26: Set a SL for the short at 6.32. Take profit at 6.13.]
[6-7-26: Stopped out at 6.32 for a BE.]
GOLD_ GCQ26, MGCQ26
Weekly – In the December 2023 uptrend, still near support. Trade pressures remain down. Volumes remain bearish.
Daily – Short. In the move down from 4509 on 6/4 amid rising rate expectations. Trade pressures are down. Volumes are bearish.
The next target down is 4192. The expected oversold level declines to 4405.
A close above 4467 would signal higher. The expected overbought level declines to 4560.
[OB/OS channel is declining.] GVX rises to 28.80 – remaining in the investable zone.
[6-9-26: Lower SL to 4392. Take profits at 4192. ]
[6-10-26: Profit Stop 4192 met for a gain.]
SILVER_ SIN26
Weekly – In the December 2023 uptrend, testing support. Trade pressures are down. Volumes are bearish.
Daily – Short. In the new move down from 74.53 on 6/4. Trade pressures are down. Volumes remain bearish.
The next target down is 65.05 The oversold levels decline to 68
A close above 72.32 would signal higher. Overbought levels decline to 75.
[OB/OS channel is declining.]
[6-6-26: set the SL for the short entry at 70.27. Take short profits at 65.]
[6-9-26: Profit stop at 65 met for a gain.]
S&P 500 Futures
Market Summary:
Copper stopped out but still a new long. Gold and silver both stopped out of their long trades.
Crude lower. Natural Gas has successful breakout.
The US 30yr Treasury higher as the 10yr yield declines to 4.43%.
The expected overbought level for the 10yr yield declines to 4.68%.
The US Dollar – The lower yields are taking the USD down with them.
_________________
S&P 500 Futures #ESM26, #MESM26
Monthly –Monthly bar making new ATH’s. Trade pressures remain up, but still declining. Volumes closed the month of April as bullish. The 7611 price is the adjusted high. The next target up remains 7615. A close below 7300 would confirm any weekly move lower.
Weekly – The weekly bar higher off the Oct 31 resistance line which now becomes support. Trade pressures remain up. Volumes remain bullish. The next target up remains 7615. A close below 7436 would confirm any daily move lower.
Daily – Long. From 7468 on 5/21. Trade pressures remain up, Volumes remain bullish.
The next target up is 7634. The expected overbought level rises to 7598.
A close below 7585 would signal lower. The expected oversold level rises to 7355.
[OB/OS trend is rising.]
The VIX closes below 19 at 15.32, indicating market is investable.
The Hedgeye.com VIX risk range is 15.29 – 18.01.
[6-2-26: At 7632. Raise SL for the move up at 7550.]
[6-3-26: Stopped out at 7550.]
__________________
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 reset to start at $100,000 for the 2026 year.
These Navellier Top 5 portfolio stocks closed:
Down 35% for the 2022 Year.
Up 17% for the 2023 Year.
Up 42% for the 2024 Year.
Up 48% for the 2025 Year
Portfolio stock values for 2026.
The portfolio value static for the week, at $167,000.
The Year-to-Date portfolio performance is up 67%.
The Hedgeye GDP nowcast has rising growth projected thru July, then slowing. This “up 67%” needs to be protected/taken at the first evidence of GDP slowing.
The S&P 500 YTD return is 10.46%
US$$
#usdollarfutures #ustreasurybondfutures
USD_ DXM26
Weekly – In the March 2026 uptrend. Trade pressures are up. Volumes are now neutral.
Daily – Flat. Moving sideways in a tight channel. Yields decline, OB level declines. Trade pressures are down. Volumes are now bearish.
The next target down is 98.79. The expected oversold levels rise to 98.87.
A close above 99.23 would signal higher. The expected overbought level declines to 99.51.
[The OB/OS channel is narrowing.]
US30YR T-BOND_ USU26
Weekly – In the March 2026 downtrend. Trade pressures are down, but rising. Volumes decline neutral.
Daily – Flat. In a move up off the 109-01 lows. Trade pressures are up. Volumes remain bullish.
The next target up is 113-06. Overbought levels decline to 113-30.
A close below 111-16 would signal lower. Oversold levels rise to 111-06.
[The OB/OS channel is rising.]
10yr yields down to 4.43%. The overbought level is at 4.68.
Oil & Gas
#crudeoilfutures #naturalgasfutures
CRUDE_ CLN26
Weekly – In the January 2026 uptrend. Trade pressures remain up, but declining to near neutral. Volumes are neutral.
Daily – Flat. Remains in the move down from 101.70 on 5/20. Trade pressures are down. Volumes remain bearish.
The next target down is 84.96. The expected oversold level declines to 95.73.
A close above 90.83 would signal higher. The expected overbought levels declines to 99.83.
[OB/OS channel is declining.]
OVX (oil volatility) at 57.
(One of the larger components in the measure of inflation.The Hedgeye.com inflation nowcast now expects inflation rising in the 2nd thru the 4th quarters of 2026.)
NAT GAS_ NGN26
Weekly – In the January 2025 uptrend. Trade pressures are now up. Volumes are now bearish.
Daily – Long, The January bull flag breakout at 2.99 on 5/18 pulled back and then up thru 3.10 new entry; is now moving higher. Trade pressures are up. Volumes are bullish.
The next target up is 3.53. The expected overbought level rises to 3.44.
A close below 3.22 would signal lower. The expected oversold level rises to 2.96.
[OB/OS channel is narrowing.]
Natural gas is produced with oil production. Natural gas production as a ratio of oil production has been rising, amounting to 47% of the permian basin oil production in 2024.
[5-30-26: Set a SL at 3.22.]
Metals
#copperfutures #goldfutures #silverfutures
COPPER_ HGN26, MHGN26
Weekly – In the October 2025 uptrend. Trade pressures remain up. Volumes are bullish.
Daily –Flat. Remains in the move up from 6.35 on 5/22. Trade pressures are up. Volumes are bullish.
The next target up is 6.58. The expected overbought levels decline to 6.45.
A close below 6.32 would signal lower. The expected oversold levels rise to 6.20.
[OB/OS channel is narrowing.] Trending, can buy the dip with tight stops.
[5-30-26: Set a SL at 6.32.]
GOLD_ GCM26, MGCM26
Weekly – In the December 2023 uptrend, still near support. Trade pressures remain down. Volumes remain bearish.
Daily – Flat. In the move up from 4535 on 5/24. GDP moving toward stagflation; buy dips toward 4516. Trade pressures are up. Volumes are bullish.
The next target up is 4751. The expected overbought level declines to 4601.
A close below 4509 would signal lower. The expected oversold level rises to 4473.
[OB/OS channel is narrowing.] GVX declines to 23.80 – remaining in the investable zone.
[5-30-26: Set a SL at 4456. Resistance at 4767.]
SILVER_ SIN26
Weekly – In the December 2023 uptrend. Trade pressures are down. Volumes remain neutral.
Daily – Flat. The new move up from 78.04 on 5/24 failed. Trade pressures are down. Volumes are bearish.
The next target up is 77.90. Overbought levels rise to 83.
A close below 74.53 would signal lower. The oversold levels rise to 73
[OB/OS channel is rising.]
S&P 500 Futures
Market Summary:
Copper new long. Gold and silver new longs on 5/24.
Crude up against the 4/7 downtrend line, breaks lower in the Sunday session. Natural Gas attempts another breakout then pulls back to support.
The US 30yr Treasury higher as the 10yr yield declines to 4.55%.
The expected overbought level for the 10yr yield rises to 4.69%.
The US Dollar – Higher but meeting resistance as the 10yr seems OB..
_________________
S&P 500 Futures #ESM26, #MESM26
Monthly –Monthly bar making new ATH’s. Trade pressures remain up, but still declining. Volumes closed the month of April as bullish. The 7540 price is the adjusted high. The next target up is 7615. A close below 7229 would confirm any weekly move lower.
Weekly – The weekly bar higher off the Oct 31 resistance line which now becomes support. Trade pressures remain up. Volumes remain bullish. The next target up is 7615. A close below 7365 would confirm any daily move lower.
Daily – Long. From 7468 on 5/21. The 7441 short entry was stopped out at 7473. Trade pressures are up, Volumes are bullish.
The next target up is 7525. The expected overbought level rises to 7525.
A close below 7438 would signal lower. The expected oversold level rises to 7294.
[OB/OS trend is rising.]
The VIX closes below 19 at 16.70 indicating market is investable.
The Hedgeye.com VIX risk range is 16.44 – 18.81.
[5-23-26: Set the SL for the move up at 7477.][5-27-26: Raise the SL to 7510.]
[5-28-26: Stopped out for a gain at 7510.]
__________________
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 reset to start at $100,000 for the 2026 year.
These Navellier Top 5 portfolio stocks closed:
Down 35% for the 2022 Year.
Up 17% for the 2023 Year.
Up 42% for the 2024 Year.
Up 48% for the 2025 Year
Portfolio stock values for 2026.
The portfolio value up for the week, at $167,000.
The Year-to-Date portfolio performance is up 67%.
The Hedgeye GDP nowcast has rising growth projected thru July, then slowing. This “up 67%” needs to be protected/taken at the first evidence of GDP slowing.
GE Vernova (GEV) will be replaced by Cenovus Energy (CVE) at the open on the next business day.
The S&P 500 YTD return is 8.77%