#emini #spfutures #SP500 #ES

Market Summary:

Copper is in a sharp move down to near oversold levels. .  Both gold and silver continue to be in oversold territory. Watching  the 10yr and the dollar.

Crude oil looks lower. Natural gas looks higher on the July contract.

The US 30yr Treasury Bond June contract is a short, but near oversold levels.

The US Dollar futures continue moving up, but in a tight range. 104.97 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 – The weekly has reversed to a short after closing below 3997. Trade pressures are up but rolling over. Volumes remain bullish. The next target down is 3787. A close above 4106 would confirm any daily move higher.

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. Met the 4012 target and 3793 is the next target down. 3949 is the oversold level. A close above 4106 would signal higher.  4095 is an 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 a successful close below the 4000 level. The energy related portfolio value moves down another 1% to approximately $102,000. The Year-to-Date portfolio performance is now 2%.

Occidental (OXY) and Valero (VLO) will be replaced by Cadence (CDNS) and Novo Nordisk (NVO) at the next market opening.

 

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