#emini #spfutures #SP500 #ES

Market Pressures:

Copper has triggered a long entry but waiting for a bullish reversal. Gold consolidating in the move down. Silver is at downside targets.

Crude oil is in a move up after testing the 200 day MA. Natural Gas is near the 3.33 downside target.

The 30 year Treasury is moving down after the 6.8% inflation print. This inflation point is likely the high, as the crude component dropped during November and will show up in the next data point.

The US Dollar is in distribution; consolidating.
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S&P 500 Futures_

Monthly – In the move up from the April 2020 long entry at 2801. Trade pressures are up but rolling over. Volumes closed the month of November as bullish. The next target up is 5018. A close below the prior 4339 target would confirm any weekly move lower.

Weekly – In the move up from the November 2020 long entry at 3499. Trade pressures are up but declining. Volumes are now bullish. The next target up is 5473. A close below 4430 would confirm any daily move lower.

Daily – in the move up from the new long entry on Dec 7th at 4598. Trade pressures are up. Volumes are bullish. The next target up is 4725. A close below 4657 would restart the move down. Let’s see if the prior high gets taken out?

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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 2021 year. This portfolio has been marked to the market and restarted at $100,000 for the 2021 year.

The portfolio stocks turned back up to approximately $142,000, up 42% for the 2021 YTD.  The portfolio had a brief touch of the $150,000 value in early March 2021, then a low of $100,000 a few weeks later, and rose once again above 50% in early September.

Both GDP growth estimates and CPI inflation estimates are now showing a deceleration in the rate of increase into the first quarter of 2022 which would be dovish for interest rates. However the market seems to expect continued earnings growth rate and a deceleration in inflation which is very good for the equity markets.

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