#emini #spfutures #SP500 #ES

Market Pressures_

Copper in a new move up. Gold and silver rallied all month expect some consolidation then higher.

Crude oil is a short. Natural gas also in a move down; expect some consolidation here.

The US 30YR Treasuries are trying to move higher but have run into resistance.

The US Dollar futures are in a new move down.

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S&P 500 Futures_

Monthly – The move down was triggered this last month. Trade pressures are up. Volumes closed the month of October as bullish. The next target down is 2979. The next target up is the prior high of 3576 and would confirm any weekly move higher..

Weekly – A big retracement in the new move down. Trade pressures are up but reversing down. Volumes are bullish. The next target down is 2970. A close above3550 would confirm any daily move higher.

Daily – Flat. In the move up. Trade pressures are up and extended. Volumes are bullish. The next target up is 3533. Expect consolidation and retracement here. A close below the 25×5 MA at 3417 would signal lower. Looking for a retracement of this post election move up.

[11-09-20: Wrong. Pfizer announcement triggers open economy trades.]

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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 into and beyond election day this last week. The portfolio stocks were up for the week and are now valued at approximately $129,000, up 29% for the YTD. This move up has absorbed the March-April 2020 down move of 32%.

The portfolio fundamentals continue to be important and have performed well in this reporting cycle.

 

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