#emini #spfutures #SP500 #ES

Market Pressures_

Copper is at resistance. Gold and silver continue to base awaiting the stimulus agreement.

Crude oil is drifting in a long channel; is storage filling up? Natural gas is in a second leg up.

The US Treasury bond futures are in a move down.

The US Dollar futures are also in a move down.

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S&P 500 Futures_

Monthly – Still at the high end of the monthly bar. Trade pressures are up. Volumes closed the month of Sept as bullish. The next target up is 3948. A close below 3154 would confirm any weekly mover lower.

Weekly – Have broken above the down trend line, the upper median line. Trade pressures are up but reversing. Volumes remain bullish. The next target up is the 3576 prior high. A close below 3273 would confirm any daily  move lower.

Daily – Broke above the daily upper median line last week. Looked for a pullback, which happened thursday. Trade pressures are down into the neutral zone. Volumes are bullish. Need a reversal in the daily Trade pressures to commit to a new long. Earnings next week may be the catalyst. A close below 3385 level would signal a new move 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 stocks benefited from the rally this last week. The portfolio stocks were up for the week and are now valued at approximately $133,000, up 33% for the YTD. This move up has absorbed the March down move of 32%.

The portfolio fundamentals continue to be important. Institutions are likely buying these TOP 5 better fundamentals into the next earnings reports..

 

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