#emini #spfutures #SP500 #ES

Market Pressures:

Copper is in a long trade but immediately against resistance. Gold is consolidating below a new long entry. Silver also consolidating which stopped out a new long.

Crude oil moved higher and is trending. Nat gas is flirting with a new short entry.

The US 30 year Treasury is a long trade but needs weekly confirmation.

The US Dollar futures are selling down but near a downside target.

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S&P 500 Futures_

Monthly – Well above the monthly lows. Trade pressures are down into the neutral zone. Volumes closed the month of April as bearish. The next target down is 3695. A close above 4444 would confirm any weekly move higher.

Weekly – In a retracement up of the move down to the 3807 low. Trade pressures are down. Volumes are neutral. the next target down is 3858. A close above 4482 would confirm any Daily move higher.

Daily – In a retracement up inside the downward channel. Trade pressures are up. Volumes are bullish. Testing the upper boundary of the channel now. The next target up is the 4216 resistance. A close below 4103 would signal lower.

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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 was up sharply and the value moved up to approximately $88,000. The Year-to-Date portfolio performance is now down 12%.

At the open tomorrow May 30th, Israel Chemical (IGL) and  Nutrien LTD (NTR) will be replaced by PetroBras (PBR) and Targa Resources (TRGP)

 

 

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