#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in the move up reacting to the equity markets. Gold and Silver have moved higher but both have moved down with the dollar rise.

Crude has moved higher but looks lower. Nat Gas could be a new long.

The US 30 year Treasuries are rallying with the dollar.

The US Dollar futures are looking higher into the 200 day MA.

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S&P Futures_

Monthly – In the move up off the lows. Trade pressures are up into the neutral zone. Volumes closed the month of May as neutral. The next target up is the prior high of 3405. A close below 2836 would confirm any weekly move lower.

Weekly – In the move up off the 2430 long entry. Trade pressures are up. Volumes are bullish, even after the big Thursday selloff. The next target up is 3230. A close below 2934 would confirm any daily move lower.

Daily – Short. The Thursday close below 3008 has triggered the short entry. Friday was an opportunity for price improvement. Trade pressures are down and extended. Volumes are neutral.

The next target down is 2917.

A close above 3149 would signal higher. Use that 3149 as the stop (very wide, but volatility dictates).

Daily is very oversold so manage the entries, or perhaps, wait for a better day.

[6-16-20: No short. Now breaking above the 3159 new long entry.]

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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 stocks rallied during the week and then sold off in the sharp drop on Thursday. The portfolio stocks are now valued at approximately $91,000, now down  9% 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.]