#emini #spfutures #SP500 #ES

Market Summary:

Copper testing support.  Gold stopped out, looking for new long. Silver near support, probably one more move down.

The Crude is in the move up. Natural gas rallies again after correction.

The US 30yr Treasury Bond long trade is still testing the upper median line.

The US Dollar futures are short for the second time.

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S&P 500 Futures (Sept contract)

Monthly – A close on the highs at 4488. Trade pressures remain up. Volumes closed the month of June as bullish. The next target up is 4961. A close below 4183 would confirm any weekly move lower.

Weekly – The weekly short is in jeopardy with a closing high above the two prior weeks. Trade pressures are still up. Volumes remain bullish. The next target down is 4368. A close above 4512 would confirm any daily move higher.

Daily – Flat. The move up after the BE on the short trade has met the 4473 target. Trade pressures are neutral. Volumes are bullish. A break above 4428 did signal higher. The next target up is 4700.  The next overbought is 4425.

The ramp up into the Quarter end may see some profit taking. A close below 4466 would signal lower. Oversold is now expected at 4307.

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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 remained at approximately $114,000. The Year-to-Date portfolio performance is now up 14%.

On Monday, First Solar (FLSR) and Novo-Nordisk (NVO) will be replaced with Builders First Source (BLDR) and SuperMicro (SMCI).

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