#emini #spfutures #SP500 #ES

Market Summary:

Copper is holding at the oversold level. Both gold and silver pressured by the rise in rates.

Crude oil breaks short term resistance and rallies to resistance. Natural gas remains near the downside targets and is over sold, but trade pressures are rising.

The US 30yr Treasury Bond resistance held at the 200 day, near a new short entry.

The US Dollar futures continue moving up. 104.26 is the overbought level.

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S&P 500 Futures

Monthly – Holding near the December highs. Trade pressures are rising but still in the neutral zone. Volumes closed the month of January as neutral. The next target down is 3008. A close above 4169 would confirm any weekly move higher.

Weekly – In the weekly move up from the 3941 long entry. Trade pressures are up. Volumes remain bullish. The next target up is 4188. A close below 4009 would confirm any daily move lower.

Daily – Short. the close below 4137 triggered the short. Trade pressures have moved from up back to neutral. Volumes are now bearish. The next target down is 4012 and 3961 is the oversold level. Still expecting a back-test of the broken downtrend line around 4001. A close above 4111 would signal higher. (Use this as the SL). 4178 is the expected overbought level.

[2/13/23: AM. Stopped out at the 4111 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 2023 year.

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

This week’s market ended with an attempt to close below the 4000 level. The energy related portfolio value move up 4% to approximately $104,000. The Year-to-Date portfolio performance is now 4%.

 

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