#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a move up, but pulling back. Gold and silver both are in consolidation at prior highs.

Crude Oil is matching the market trading in a wide channel. Natural Gas is in the long trade.

The US 30 Year Treasuries are also in consolidation; a move below 164 would signal lower.

The US Dollar futures are reaching for the 99.00 level.

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S&P 500 Futures_

Monthly – The month closed down. Trade pressures are up. Volumes closed the month of August as Bullish despite the down Month. The next target up is 3408. A close below the 2808 level would confirm any weekly close lower.

Weekly – In the move down after a close below 2870. Trade pressures are down. Volumes are neutral. The next target down is 2712. A close above 2942 would confirm any daily move higher.

Daily – Flat. A previous short position was stopped out with a small gain. Trade pressures are up. Volumes are bullish.

The next target up is 2959. The 25×5 MA is acting as resistance here. A close below 2886 would reestablish the short position. The 60 minute short entry is below 2914.

Downward time pressures end on 9-5; so tight stops on any short positions.

[9-3-19: Short at 2914. Set stops at 2926. Lower stops to BE asap.]

[9-4-19: Stopped out at the 2914 short entry price.]

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Navellier Top 8 Stocks – This Top 8 model portfolio began the year at $100,000 and remains  approximately $113,000, or up about 13 percent for the year-to-date. Cadence Design Systems (CDNS) is replaced by Euronet Worldwide (EEFT). Ingersol Rand (IR) and Insperity (NSP) are replaced by Arbor Realty (ABR) and Capital Southwest (CSWC).

These changes will be effective at the Tuesday open.

 

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