#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in the move up. Gold is struggling to move up. Silver has a well defined move up.

Crude oil is in consolidation at the median line. Natural gas signaled a break out, but is faltering.

The Us 30 Year Treasuries are stuck in a channel.

The US Dollar futures have finally broken down.

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S&P 500 Futures_

Monthly – The rally continues inside the down move. Trade pressures are up. Volumes closed the month of May as neutral.  The close above 2858 sets the next target up as 3397. The next target down is 2461 and would confirm any weekly move lower.

Weekly – In the move up from the 2440 level. Trade pressures are up. Volumes are neutral suggesting the buyers and sellers are now in balance. The next target up is 3240. A close below 2772 would confirm any daily move lower.

Daily – Continues the move up from the April long entry. Trade pressures are up. Volumes are Bullish. Price is now above the 200 day MA and in bullish territory. The next target up is 3252. A close below 2845 would signal lower.

Now in the new upward time cycle.

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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 down this week but rebounded and still 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.

 

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