#emini #spfutures #SP500 #ES

Market Pressures_

Copper consolidating at the 2.91 level. Gold also in consolidation. Silver also in consolidation at the 19.50 level.

Crude is flat tracking along the 40-41 levels. Natural gas is attempting a move higher.

Us 30 year treasuries look higher with the new stimulus package coming soon.

The US Dollar is testing the 95 support levels.

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S&P 500 Futures_

Monthly – In the new move up from the 2845 entry. Trade pressures are up. Volumes closed the month of June as neutral. The next target up is the prior high at 3375. A close below 2853 would confirm any weekly move lower.

Weekly – Still in the long move up off the March lows. Trade pressures are up. Volumes are bullish. The next target up is also the prior high at 3375. A close below 2947 would confirm any daily move lower.

Daily – In the move up from the 2934 long entry. Trade pressures are up but showing divergence. Volumes are now neutral. The next target up is still 3235. A close below 3142 would signal lower.

The weekly trade pressures are still up, so buy the daily dips is still the rule.

[7-21-20: Now seeing the NASDAQ futures diverge from the S&P 500. A sell signal has been triggered on the NQ’s at 10883. stops at 11058. First target down is 10708.]

[7-22-20: Lower stops to 10934.]

[7-23-20: Stop triggered and then price immediately turned down again.]

 

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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 down 4% for the week and valued at approximately $106,000, now up 6% for the YTD. We may match the 13% gains from these first two months of 2020; but would do well to remember the down 32% lows of March. The portfolio fundamentals continue to be important as the market narrows.

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