#emini #spfutures #SP500 #ES
Market Pressures:
Copper is pulling back in the move up. Gold and Silver are the same, looking for a new long entry.
Crude oil is extended to the upside. Natural gas is tempting the longs.
The US 30 Year Treasury is down hard, impacting the growth stocks. Yields backing off would be the next surprise.
The US Dollar futures are down near support.
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S&P 500 Futures_
Monthly – Another new high. Trade pressures are up but declining. Volumes are closed the month of December as bullish. The next target up is 5018. A close below 4252 would confirm any weekly move lower.
Weekly – In the move up from the November 2020 entry at 3499. Trade pressures are up but showing divergence. Volumes are bearish. The next target up is 5473. A close below 4522 would confirm any Daily move lower.
Daily – Short in the move down from the 4720 level. Trade pressures are down. Volumes are bearish. The next target down is 4622, which is also at a long term resistance line. A close above 4692 would signal higher and also act as the SL.
[1-10-22: Close the short at 4616.]
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Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is marked to the market and is restarted at $100,000 for the 2022 year.
The portfolio stocks closed up 39% for the 2021 Year. The first week in 2022 was down 5% to approximately $95,000. The Year-to-Date portfolio performance is now down 5%.
[The author may have long or short positions in any of the securities mentioned.]