#emini #spfutures #SP500 #ES

Market Pressures:

Copper in a tight range, 3.30 to 3.70. Gold has sold down hard but is oversold. Silver has held up and is in an uptrend.

Crude oil is consolidating, but with a bias to the upside. Natural gas is down near oversold levels.

The US 30yr T-Bond continues lower.

The US Dollar future is testing resistance, shouldn’t move down til the interest rates stop going up.

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S&P Futures_

Monthly – Now below the last month’s low and targeting the June lows, Trade pressures are down. Volumes close the month of August as bearish. The next target down is 3695. A close above 4275 would confirm any weekly move higher.

Weekly – Weekly has broken down from the support line at 3900. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 3746. A close above 4330 would confirm any Daily move higher.

Daily – Flat. In the move down from the 4070 short signal on 9/13. Trade pressures are down. Volumes are bearish. The next target down is 3734. 3825 is the oversold level. A close above 4015 would signal higher. 4044 is the overbot 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’s market closed with a small short covering rally. But the energy stocks in the portfolio held it down to approximately $71,000. The Year-to-Date portfolio performance is now down 29%.

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