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.

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

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