#emini #spfutures #SP500 #ES

Market Summary:

Copper is a long trade.  Gold at resistance, did not move with silver. Silver has a big move up.

The Crude met resistance at the 200 day MA. Natural gas falls further.

The US 30yr Treasury Bond long restarts.

The US Dollar futures are short, but now at targets so expect some retracement.

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S&P 500 Futures (Sept contract)

Monthly – A close at new highs at 4536. Trade pressures remain up. Volumes closed the month of June as bullish. The next target up is 4961. A close below 4249 would confirm any weekly move lower.

Weekly – The weekly has turned to a long as the 4512 entry is triggered. Trade pressures are still up. Volumes remain bullish. The next target up is 4673. A close below 4378 is needed to confirm any daily move lower.

Daily – Long, from the 4428 long signal off the march lows on 7/11.  Trade pressures are up. Volumes are now bearish at the end of the week. A break above 4441 did confirm the 4428 signal higher with the next target up at 4700. In overbought territory at 4561 but the breakout continues.

A new short entry is nearby at 4532. A retracement target down is 4473 could afford a buy of the dip. The expected oversold level is 4365. Tight stops.

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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 closed at approximately $118,000 with the move in the SuperMicro (SMCI). The Year-to-Date portfolio performance is now up 18%.

 

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