S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is trending in a sideways channel.  Gold has rallied off the oversold levels. Silver is holding the 20 support level.

Crude oil has rallied of the 76.00 long entry. Natural gas July contract long at 2.90 on 2/24.

The US 30yr Treasury Bond June contract is now a long.

The US Dollar futures continue moving up, but in a tight range. 105.54 is the overbought level and is also the 200 day MA.


S&P 500 Futures

Monthly – Now off the December highs. Trade pressures are rising but still in the neutral zone. Volumes closed the month of February as neutral following a neutral January. 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 are now neutral. The next target down is 3787. A close above 4084 would confirm any daily move higher.

Daily – Long. The close above 4106 triggered the new long entry on Friday. Trade pressures have moved from down to up. Volumes are now bullish. The next target up is 4128. 4060 is the overbought level: so SL at the entry. A close below 4012 would signal lower.  3913 is an expected oversold level.


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 above the 4000 level. The recent changes to the portfolio helped values move higher 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.]