#emini #spfutures #SP500 #ES

Market Summary:

Copper still overbought.  Gold waiting for an interest rate signal this week. Silver now a long trade.

The Crude is back into the down channel. Natural gas stalls.

The US 30yr Treasury Bond long trade needs a break above the 200 day MA.

The US Dollar futures long trade sitting on support and showing a short bias.

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S&P 500 Futures (Sept contract)

Monthly – A close above the 4300. Trade pressures remain up. Volumes closed the month of May as bullish. The next target up is 4961. A close below 4080 would confirm any weekly move lower.

Weekly – The weekly long on 3/31 at 4052 moves above the 4300 target. Trade pressures are still up. Volumes remain bullish. The next target up is 4558. A close below 4170 would confirm any daily move lower.

Daily – Long. In the move up from the reversal at 4192 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 4473.  Overbought is now 4328. A break below 4284 would signal lower. The next oversold level is 4108.

Keep the SL at 4246.

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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.

Portfolio values moved up to approximately $113,000. The Year-to-Date portfolio performance is now up 13%.

 

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