#emini #spfutures #SP500 #ES

Market Pressures:

Copper has begun a new move down. Gold and Silver are retracing from the 200 day resistance levels.

Crude oil is reaching for 90, but showing some divergences. Natural gas is breaking out of the 3.50 consolidation.

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

The US Dollar futures are in a new move up.

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S&P 500 Futures_

Monthly – 22 months of a rising market since the Pandemic sell-off. Trade pressures are up but declining. Volumes closed the month of December as bullish. The next target up remains 5018. A close below 3252 would confirm any weekly move lower.

Weekly – Still in the move up from the November 2020 entry at 3499. Trade pressures are down into the neutral zone. Volumes are now bullish. The next target down is 4202. A close above 4596 would confirm any Daily move higher.

Daily – Flat. Completed the move down from 4720 to the extended target at 4207. Trade pressures are down. Volumes are now neutral suggesting some accumulation. The next target down is 4148. The close above 4343 on Friday signals higher. Wide ranging days increase the trading risk dramatically. Go down time frames and trade breakouts with proper stops so the momentum is in your favor.

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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 $82,000. The Year-to-Date portfolio performance is now down 18%.

Endava Plc (DAVA) and Crocs Inc. (CROX) will be replaced by Fortinet (FTNT) and TFII International, Inc. (TFII) at the open on Monday.

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