#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a retracement down. Gold is in consolidation after the run to the 1440 levels. Silver is similarly consolidating at the 16.50 levels.

Crude is quiet but indicating a second leg down soon. Natural Gas is down but near the end of the move.

The US 30 year Treasuries are in neutral at the 155 levels.

The US Dollar futures are up sharply and should find resistance at the 98 level.

__________________

S&P 500 Futures_

Monthly – New highs. Trade pressures are up. Volumes closed the month of June as Bullish. The next target up is 3408. A close below 2802. would confirm any weekly move lower.

Weekly – In the move up from the 2880 new long entry level. Trade pressures are up. Volumes are bullish. The next target up is 3048. A close below 2901 would confirm any daily move lower.

Daily – Flat. In the uptrend and in the move up from the July long entry at 2969. Trade pressures are up. Volumes are bullish.

The next target up is 3067.

A close below 2974 would signal a new move lower.

[8-1-19: Closing below the 2974 level triggers the new short entry. Set the stop at the 3020 level.]

[8-2-19: Lower stop to 2950.]

_________________

Navellier Top 8 Stocks – This Top 8 model portfolio began the year at $100,000 and is now approximately  $117,000. The August update has a few changes. Chipotle  (CMG), Arbor (ABR) and Capital Southwest (CSWC) are dropped. Sun Communities (SUI), Coca Cola European Partners (CCEP) and Insperity (NSP) are added. These changes will take place at the Monday open prices.

 

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