#emini #spfutures #SP500 #ES

Market Pressures:

Copper is at resistance levels. Gold and silver are both in rally mode but near some resistances.

Crude oil is in a move up. Natural gas is a new long.

The US 30yr Treasury is retracing the June move up.

The US Dollar futures are basing and look higher.

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S&P 500 Futures_

Monthly – Good follow thru of the retracement above the big June down bar. Trade pressures are rising into the neutral zone. Volumes closed the month of July as bearish. Now in the new move up from the the 4275 close. The next target up is the prior high at 4808. A close below 4119 would confirm any weekly move lower.

Weekly – Retracing the 2022 move down. Trade pressures are up into the neutral zone. Volumes are  bullish. The next target down is the 3589 retest. The next target up is the new weekly long entry at 4313 and would confirm any daily move higher.

Daily – Long. In the move up from the break above the June highs at 4176. Trade pressures are up. Volumes are bullish. The next target up is 4335. A close below 4264 would signal lower. Take profits at the 4335 target. SL at 4264.
[8-17-22: stopped out at the 4264 SL]

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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 portfolio value moved up sharply with commodity prices. The value moved up to approximately $74,000. The Year-to-Date portfolio performance is now down 26%.

 

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