#emini #spfutures #SP500 #ES

Market Pressures:

Copper is in the crash mode. Gold and silver are now looking lower as all commodities sell off.

Crude oil is bouncing off the lower channel boundary. Nat Gas is very near the lower end of its range also.

The ten year yield is up against highs, so the US 30 year Treasury is in rally mode.

The US Dollar futures are consolidating after the 105.58 highs.

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S&P 500 Futures_

Monthly – The move down tested the old upper channel trendline from the 2008-2020 highs. Trade pressures are down. Volumes closed the month of May as bullish. The next target down is 3008. A close above 4275 would confirm any weekly move higher.

Weekly – The 3589 low has held. Trade pressures are down. Volumes are bullish. The next target down is a retest of the lows at 3589. A close above 4315 would confirm any Daily move higher.

Daily – Long in the  move up from the 3765 long entry on June 23rd. Trade pressures are down but rising. Volumes are bullish. The next target up is 3969. A close below 3849 would signal lower. use that as the SL.

[6-27-22: Sell the long at the 3920 level. Short the move down at the 3869 level.]

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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 again and the value moved down to approximately $69,000. The Year-to-Date portfolio performance is now down 31%.

PetroBras (PBR) will be replaced by Continental Resources (CRL) on Monday morning at the open.

 

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