#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a new move up. Gold is losing momentum in the rally. Silver could begin a new rally if it can hold 14.00.

Crude Oil is un-tradeable. Natural Gas is in a retracement of the move up; could have a new long entry soon.

The US 30YR Treasury is in a move up, but looking for a new short.

The US Dollar futures are range bound between 101 and 98.

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S%P 500 Futures_

Monthly – Still in the move down. Trade pressures are down but turning up. Volumes  closed the Month of March as bearish. The next target down is 2461. A close above 2858 would confirm any weekly move higher.

Weekly – In the move up from the 2441 level off the lows. Trade pressures are up. Volumes are bullish. At the 2833 target and consolidating. The next target up is 3240. A close below 2598 would confirm any daily move lower.

Daily – Flat. In the move up and at the 2849 upside target and consolidating. Trade pressures are down into the neutral zone. Volumes are bullish. The next target up is first the 200 day MA at 2941, then the 3252 100% target. A close below 2662 would signal lower and a test of the 2500 level.

Watch the 2799 level on the 60 minute charts.

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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 fell back another 2% this week to approximately $88,000, now down 12% YTD. The 13% gains from these first two months of 2020 have evaporated., but so have the down 32% lows of March. These fundamentals should become more important as the market narrows.

Copart (CPRT) , Invitation Homes (INVH) and S&P Global (SPGI) will be replaced by DexCom (DXCM), Microsoft (MSFT) and VipShop Hldg (VIPS) at the open on Monday.

 

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