#emini #spfutures #SP500 #ES

Market Pressures:

Copper consolidating after a move to 4.60. Gold now in a second leg up. Silver in a nice move up after backtesting the prior resistance line.

Oil Is setting new highs. Look for some consolidation here. Nat Gas has moved down to old support levels, look for a new long entry.

The US 30 year Treasury is in a new move up.

The US Dollar futures are in a move down from the 96 level. 93.15 is the 200 day MA.

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S&P 500 Futures_

Monthly – Traded below the prior month low. Trade pressures are up but declining. Volumes closed the December month as bullish. The next target up is 5010. A close below 4252 and the prior low pivot would confirm any weekly move lower.

Weekly – In the new move down from 4505. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 4202. A close back above 4789 would confirm any Daily move higher.

Daily – Flat. In the move down form the 4720 short  entry on Jan 5th. Trade pressures are down. Volumes remain bearish. The 4578 target was immediate, then three hard down days thru the 4437 extended target to close at 4381; now down 427 S&P points. A close back above 4512 would signal higher.

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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.  This last week in 2022 was down hard to approximately $87,000. The Year-to-Date portfolio performance is now down 13%.

 

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