#emini #spfutures #SP500 #ES

Market Pressures:

Copper is consolidating after the move up. Gold and silver are back testing the old long entry levels.

Crude oil is breaking out of the upward sloping channel. Natural gas is correcting after the long move up.

The US 30 Year Treasury is ready for a new move up.

The US Dollar futures are still in a retracement down, but a break above 102.50 should start a new move up.

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S&P 500 Futures_

Monthly – In the move down to the 3695 downside target. Trade pressures are down. Volumes closed the month of May as bullish. The next target down is that 3695. A close above 4444 would confirm any weekly move higher.

Weekly – In the move down from the 4464 short entry on April 15th. Trade pressures are down. Volumes are now neutral. The next target down is 3487. A close above 4482 would confirm any Daily move higher.

Daily – Broke out of the downward sloping channel but then dropped back into the same channel. Trade pressures are up but rolling over. Volumes are bullish. The next target up is the resistance at 4216. A close below 4100 would resume the move down.

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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 also up sharply and the value moved up to approximately $92,000. The Year-to-Date portfolio performance is now down 8%.

 

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