S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is at the downside targets following the equity market down. Gold is in consolidation at the 1280 level; watching the interest rates. Silver has met it’s downside target and i also in consolidation.

Crude oil dropped sharply on concerns of slowing demand, but is at a downside target and could retrace some of this recent move down.. Natural Gas is quiet.

The US 30 Yr Treasury Bond rallied to multiple upside targets. Expect some profit taking.

The US Dollar futures ran up to new highs and immediately pulled back to support levels.


S&P 500 Futures_

Monthly – In the move up from the 2904 levels. Trade pressures are up. Volumes closed the month of April as bullish. The next target up is 3408. A close below 2735 would confirm any weekly move lower.

Weekly – In the move up from the 2592 long entry level. Trade pressures are up but declining. Volumes are bearish. The next target up is 3039. A close below 2802 would confirm any weekly move lower.

Daily РShort. In the move down from the 2842 short entry.  Trade pressures are down into the neutral zone. Volumes are bearish.

The next target  down is 2792.

A close above 2950 would signal a new move up.

Set stops now at the 25×5 MA at 2890 and then move the stops to breakeven with any break below the 2799 lows.

[5-28-19: Lower stops to the breakeven at 2842.]


Navellier Top 8 Stocks – The $100,000 Model Portfolio closed the week at approximately $111,000 down from the $119,000 highs earlier in the first quarter. Three portfolio changes will be made at the Tuesday open after the holiday weekend. Keysight Tech (KEYS), VMWare (VMW), and Haverty’s (HVT) will replaced by Chipotle (CMG), Ubiquiti Networks (UBNT), and Ingersoll Rand (IR).


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

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