S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is at the downside targets, look for a releif rally Gold and Silver are in rally mode.

Crude dropped with the equity market. Natural gas is at new lows.

The US 30 Year Treasury Bond broke above the 2017 highs on strength.

The US Dollar rallied all week then dropped sharply on Friday, a “tweet day”.


S&P 500 Futures_

Monthly –  Sold off all month. Trade pressures are up. Volumes closed the month of May as Bearish. The next target up is still 3408. A close below 2735 would confirm any weekly move lower.

Weekly – Tested the October highs and began to sell off. Trade pressures are up but turning down. Volumes are bearish. Closed below the 2802 short signal. The next target down is 2644. A close above 2900 would confirm any daily move higher.

Daily – Short. In the move down for the 2842 short entry signal. Trade pressures are down. Volumes are bearish. The next target down is 2732.

A close above 2805 would signal a retracement higher.

[6-3-19: Lower stops to the 2755 long entry on the 60 min charts.]

[6-4-19: Stop triggered, out at 2755.]

[6-6-19: Wed’s close above the 2805 level set a new long entry. Raise the stops to this entry price.]

[6-7-19: Major resistance at the 2888 level. Take profits there. Raise the stops to 2837.]

[6-10-19: profit stop st 2888 hit. ]


Navellier Top 8 Stocks –  The move down in the equity markets has taken the Navellier stocks down as well. The $100,000 model portfolio is now valued at $109,000, or up about 9% on the year. The tariff decisions are disrupting international trade relations with long standing trading partners and taking their toll.

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

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.