#emini #spfutures #SP500 #ES

Market Pressures_

Copper was within a point to the upside 2.78 target, now retracing. Gold is also retracing. Silver is showing some signs of turning down.

Crude oil could start a new move up. Natural Gas has triggered a new long entry, but very hard to trade.

The US 30 Year Treasury is in a move up.

The US Dollar futures are in a downtrend and moving sideways.

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S&P 500 Futures_

Monthly – The monthly bar closed the week higher. Trade pressures are up. Volumes closed the month of June as neutral. The next target up is 3375. A close below 2797 would confirm any weekly move lower.

Weekly – Still in the move up from the April 2430 long entry. Trade pressures are up but diverging. Volumes remain bullish. The next target up is 3230. A close below 2934 would confirm any daily move lower.

Daily – in the move up from the 2937 May long entry and consolidating at the 61% target of 3142. Trade pressures are up but reversing. Volumes are bullish. The next target up is 3235. A close below 2917 would signal lower.

Watch the trade pressures. If they cycle lower and then back up without triggering a short then a new long is likely.

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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 sold off with the market during this last week. The portfolio stocks are back up 3% for the week and valued at approximately $101,000, now up 1% for the 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.]