S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper broke below the 3.66 consolidation then returned to that consolidation area.  Gold short looking to consolidate. Silver at support.

The Crude bias is short; at interim support. Natural gas rally stalls.

The US 30yr Treasury Bond short continues lower. Ten year yields still higher to 3.85 target.

The US Dollar futures continue long, but now at the overbought levels.


S&P 500 Futures

Monthly – The close above the 4200 confirmed. Trade pressures are up. Volumes closed the month of April as bullish, May volumes now catching up. The next target up is 4917. A close below 3850 would confirm any weekly move lower.

Weekly – The weekly long at 3998 continues to move higher and the week closed again above the prior week high. 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. The close below 4126 on 5/26 triggered a new short. Trade pressures are up. Volumes are now bullish. The next target up is 4246.  Overbought is now 4196. A break below 4150 would signal lower. The next oversold level is 4073. Set the SL at the prior high.

[5-29-23: Take the loss on the short from 4126 at 4227. Now Flat.]


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 down then up this week. Portfolio values moved down on the First Solar retracement to approximately $111,000. The Year-to-Date portfolio performance is now up 11%.


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