S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures:

Copper is the move down. Gold and silver both came down with all metals, but setting up for a reversal to the upside.

Crude oil continues the range trade between 109 and 100. Natural gas is in the down-move but perhaps near the end.

The US 30 year Treasury is making a new move up.

The US Dollar futures are approaching new highs.

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S&P 500 Futures_

Monthly – Starting the month of July off the 2008-2020 trendline support. Trade pressures are down. Volumes closed the month of June  as bearish. The next target down is 3008. A close above 4275 would confirm any weekly move higher.

Weekly – In the move down from the 4507 short entry. Trade pressures are down. Volumes are neutral. The next target down is 3581. A close above 4313 would confirm any Daily move higher.

Daily – Flat. In consolidation after the touch and rebound off the lower channel line. Trade pressures are down. Volumes are now neutral for the July 4th weekend. The next target down is 3373. The hourly chart has signaled long at 3819 with resistance at 3896 and support at 3750.

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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 $68,000. The Year-to-Date portfolio performance is now down 32%.

(The Navellier Top 5 Portfolio is all energy. I might not do that, Perhaps add some Gold and the US Dollar ETF to offset the risk. But When this market turns, it is going to chase fundamentals and cashflow and the TOP 5 is that.)

 

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