#emini #spfutures #SP500 #ES

Market Pressures_

Copper is still in the move up. Gold and silver are in the second leg up.

Crude oil is consolidating. Natural gas has triggered a new long.

The US 30 year Treasury Bond is in a range.

The US Dollar futures are in a similar channel range.

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S&P 500 Futures_

Monthly – In the rally inside the downtrend. Trade pressures are up. Volumes closed the month of April as neutral. The close above 2461 has validated the weekly move up. The next target up is the prior high at 3397. A close below the prior month open at 2564 would confirm any weekly move lower.

Weekly – In the move up off the April 2440 long entry. Trade pressures are up. Volumes are bullish. The next target up is 3240. A close below 2703 would confirm any daily move lower.

Daily – Flat. Has moved above the 200 day MA. Trade pressures are up but reversing. Volumes are bullish. The next target up is 3262. A close below 2767 would signal lower.

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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 Top 5 portfolio sold off this week and is valued at approximately $92,000, now down only 8% YTD. The 13% gains from these first two months of 2020 evaporated, but so have the down 32% lows of March. The portfolio fundamentals should become more important as the market narrows.

Brown& Brown (BRO)  and Microsoft (MSFT) will be replaced by Fortinet (FTNT) and Nvidia (NVDA) at the open on Tuesday.

 

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