S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper rallies to overbought.  Gold fails at 2000. Silver rallies off support.

The Crude rallies off oversold levels. Natural gas breaks out into long trade.

The US 30yr Treasury Bond rallies to overbought levels . Ten year yields looks lower.

The US Dollar futures corrected and now long again.


S&P 500 Futures

Monthly – The close above the 4200 continues. Trade pressures are up. Volumes closed the month of April as bullish. The next target up is 4917. A close below 3867 would confirm any weekly move lower.

Weekly – The weekly long at 3998 moves above the 4256 target. Trade pressures are still up. Volumes remain bullish. The next target up is 4514. A close below the prior short signal of 4098 would confirm any daily move lower.

Daily – Long. In the move up from the reversal at 4148  on 5/26 to long. The 6/2 break above 4250 starts a new uptrend. Trade pressures are neutral. Volumes are bullish. The next target up is 4429.  Overbought is now 4245. A break below 4175 would signal lower. The next oversold level is 4094.

Set the SL at 4246.


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 up to approximately $112,000. The Year-to-Date portfolio performance is now up 12%.


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