#emini #spfutures #SP500 #ES

Market Summary:

Copper is at overbought levels. Gold and silver near overbought levels.

Crude Oil is trying to rally with the equity markets. Natural gas attempted a breakout but failed.

The US 30 Year Treasury has broken our with the lower inflation report.

The US Dollar futures are selling hard, but below the current oversold levels.

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S&P 500 Futures_

Monthly – Breaks above the prior month highs. Trade pressures are down. Volumes closed  the month of October as bearish. The next target down is 3008. A close above 4138 would confirm any weekly move higher.

Weekly – In the move up from the 3674 long entry on week ending 10/21. Trade pressures are rising to the neutral zone. Volumes are bullish. The next target up is 4190. A close below 3809 would confirm any daily move lower.

Daily – In the move up off the 3674 long entry on 10/18. The small bull flag was broken to the upside on 11/4. The inflation report triggered a follow thru to the upside on 11/10. Trade pressures are up, but showing some divergence as the market is overbought at the 3996 level. Volumes are bullish. The next target up is 4190. A close below 3810 would signal lower and oversold levels are much lower at 3643.

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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 week’s market closed up sharply. The portfolio value move up 1% to approximately $76,000. The energy stocks did not participate fully. The Year-to-Date portfolio performance is now down 24%.

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