#emini #spfutures #SP500 #ES

Market Pressures_

Copper is Testing the prior low; should bounce with equities. Gold and Silver have sold off dramatically.

Crude oil is at lows but also likely to rally with the equity markets. Natural gas is completely sold out.

The 30 year Treasury Bond is at 10 year highs.

The US Dollar futures are down as the Bonds rise.

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S&P 500 Futures_

Monthly – In the move down. Trade pressures are down. Volumes are bearish. Thru the short confirmation at 3176. The next target down is 2618. A close above 3230 would confirm a weekly move higher.

Weekly – In the move down from the 3238 level. Trade pressures are down. Volumes are bearish. The next target down is 2763. A close above 3107 would confirm any daily move higher.

Daily  – Flat. Moved down thru all daily targets. The August low seems to have acted as support. Trade pressures are down and oversold. Volumes are neutral after a short covering rally late Friday. Thee next target down is a retest of the Friday low at 2853 and then 2737.

A close above 2908 would signal higher.

[3-2-20: long. 2988 long entry triggered; stops at the entry 2988.]

[3-3-20: Rate cut stalls market. Sell ES @3097.]

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Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The portfolio is down this week to approximately $98,000 or minus 2% YTD, in this February month. The 13% gains from these first two months of 2020 have evaporated. But the fundamentals should remain intact.

Two stocks are to be replaced Monday morning at the open. Invitation Homes (INVH)  will replace Next Era Energy (NEE). Arch Capital Group (ACGL) will replaced by Leidos Hldgs (LDOS).

 

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