S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper rally failed.  Gold short continues. Silver breaks above the resistance line and fails.

The Crude long trade is meeting resistance. Natural gas slow decline continues.

The US 30yr Treasury Bond is changed from bias up to bias down. But recessionary fears should attract buyers; watch the 10yr yields.

The US Dollar futures now long with a break above the 101 levels.


S&P 500 Futures

Monthly – Still looking for the break above the 4200 level. Trade pressures are now up. Volumes closed the month of April as bullish, May volumes are low, so far. The next target down is 3084. A close above 4204 would confirm any weekly move higher.

Weekly – The weekly long at 3998 continues to move higher; a third attempt to move down closed below the prior week’s low. Trade pressures are still up. Volumes remain bullish. The next target up remains 4256. A close below the prior short signal of 4032 would confirm any daily move lower.

Daily – Flat. Now showing lower highs. Trade pressures are down. Volumes are now neutral. The next target up is 4246.  Overbought is now 4159. A break below 4093 would signal lower. The next oversold level is 4049.


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 moved sideways all week. Portfolio values moved up sharply on the First Solar news to approximately $117,000. The Year-to-Date portfolio performance is now up 17%.

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