#emini #spfutures #SP500 #ES

Market Summary:

Copper is in a rally to the overbought level.  Both gold and silver have moved to oversold, look for new long entries.

Crude oil breaks support. Natural gas remains near the downside targets and is over sold, but trade pressures failed after consolidation.

The US 30yr Treasury Bond now a new short with ten year yields rising, but 30yr is showing bullish volumes.

The US Dollar futures continue moving up, but in a tight range. 104.81 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. Met the 4188 target up and is retracing. A close below 4009 would confirm any daily move lower.

Daily – Flat. The close below 4137 triggered the short and it is still active. Trade pressures have moved from neutral to down. Volumes are now bearish. The next target down is still 4012 and 3981 is the oversold level. The back-test of the broken downtrend line, now around 4057, is complete. Expect some consolidation and retracement. Looking for a new entry. A close above 4110 would signal higher.  4172 is the expected overbought 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 another attempt to close below the 4000 level. The energy related portfolio value moves down 1% to approximately $103,000. The Year-to-Date portfolio performance is now 3%.