#emini #spfutures #SP500 #ES

Market Pressures:

Copper is pulling back to the 25×5 MA. Gold and silver rallied on the inflation print.

Crude oil is at new highs. Natural gas retraced half of the drop to 8 dollars.

The US Treasury Bond is below the prior long entry, so looking for a move back up and thru.

The US Dollar futures are resuming the move up.

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S&P 500 Futures_

Monthly – In the move down from the January 2022 sell off. Trade pressures are down. Volumes closed the  month of May as bullish. The next target down is 3695. A close above 4444 would confirm any weekly move higher.

Weekly – In the second leg of the move down from the 4464 short entry on April 15th. Trade pressures are down. Volumes are bearish. The next target down is 3487. A close above 4484 would confirm any daily move higher.

Daily – Failed at the upper channel line at the 4200 levels then down hard. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is the 3807 prior lows. A close above the Friday’s high of 4030 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 was down sharply and the value moved don to approximately $86,000. The Year-to-Date portfolio performance is now down 14%.

 

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