#emini #spfutures #SP500 #ES

Market Summary:

Copper a new long trade.  Gold appears to be basing. Silver a new long also.

The Crude is in the move up. Natural rally fails; european storage is reported to be near capacity.

The US 30yr Treasury Bond long trade fails.

The US Dollar futures are short continues to work lower.

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S&P 500 Futures (Sept contract)

Monthly – A close remaining near the highs at 4434. Trade pressures remain up. Volumes closed the month of June as bullish. The next target up is 4961. A close below 4183 would confirm any weekly move lower.

Weekly – The weekly short is still active. Trade pressures are still up. Volumes remain bullish. The next target down remains at 4368. A close above 4512 is needed to confirm any daily move higher.

Daily – Flat. An irregular double top bears watching. Trade pressures are down. Volumes are bearish. A break above 4428 did signal higher with the next target up at 4700. However, the next overbought is 4466, so expect some retracement.

And now a new short entry is nearby at 4397. The expected oversold level is 4306.

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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 $113,000. The Year-to-Date portfolio performance is now up 13%.

 

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