#emini #spfutures #SP500 #ES

Market Summary:

Copper and gold breakouts continue, but oversold levels are reached. Silver is still showing a lower high.

Crude oil is in a second attempt to move higher but is over bought. Natural gas remains near the downside targets and is over sold.

The US 30yr Treasury Bond is rejecting the attempt to short but is stalled at the 200 day MA..

The US Dollar futures are oversold and at the 101.64 target. 101.61 is the oversold level.

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S&P 500 Futures_

Monthly –  Remains in the consolidation Trade pressures are up. Volumes closed the month of December as neutral. The next target down is the 3008 level. A close above 4169 would confirm any weekly move higher.

Weekly – In the new move up from the 3957 entry. Trade pressures are rising in the neutral zone. Volumes are are bullish. The next target up is 4128. A close below 3804 would confirm any daily move lower.

Daily – Long. In the 1/11/23 move up from 3941. Experiencing a retracement inside the move up. Trade pressures are down into the neutral zone. Volumes are now neutral. Price now above the oversold level of 4009. A close below the mid-week lows would signal lower. Use 3960 as the SL and possible short entry. Expected oversold levels are 3809.

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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 2023 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.

This week’s market ended with an attempt to close above the 2022 downtrend line. The portfolio value move up to approximately $104,000. The Year-to-Date portfolio performance is now up 4%.

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