#emini #spfutures #SP500 #ES

Market Summary:

Copper in a move up to what appears to be a lower high at the 200 day MA. Gold in new long after the Thursday breakout. Silver has the same breakout. Don’t chase them.

Crude oil is looking lower. Natural gas is in a short.

The US 30 year Treasury is in the move up after a failed short.

The US Dollar futures are near oversold. Look for a bounce.

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S&P 500 Futures_

Monthly – Retracing the summer move down. Trade pressures are up into the neutral zone. Volumes close the month of November as neutral. The next target down still is 3008. A close above 4138 would confirm any weekly move higher.

Weekly – In the move up from the 3674 long entry the week ending 10/21. Trade pressures are up. Volumes are bullish. The next target up is 4190. A clos e below 3897 would confirm any Daily move lower.

Daily – In the 10/25 uptrend. Trade pressures are in the neutral zone. Volumes are neutral. The next target up is the weekly 4190. A close below 3911 would signal lower. Up against the January downtrend line. The SPX is overbought at 4103, which is just below the 4110 close,  and the VIX is oversold below 19. While the upper time frames look bullish, a correction in the daily seems likely.

[12-5-22: 88 point range in a 86 point down day. A close below 3911 would signal lower. Need a break above 4075 to continue higher.]

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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. The portfolio value moved down 2% to approximately $70,000. The concentration in energy stocks fell with the crude futures. The Year-to-Date portfolio performance is now down 30%.

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