#emini #spfutures #SP500 #ES

Market Summary:

Copper’s long trade was stopped out.  Gold and Silver pulled back to the 200 day MA and bounced.

The Crude continues the move to the upside, support now at the 200 day MA. Natural gas rises with volatility.

The US 30yr Treasury Bond long fails once again, looks to test the October 2022 low.

The US Dollar futures failed at the 103 resistance.

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S&P 500 Futures #ESU23

Monthly – The 4634 prior weekly close was tested as resistance. Trade pressures remain up. Volumes closed the month of July as bullish. The next target up is 4961. A close below 4323 would confirm any weekly move lower.

Weekly – The weekly has moved down with Friday closing down sharply. Trade pressures are still up. Volumes remain turned bearish. The next target up is still 4558 . A close below 4323 is needed to confirm any daily move lower.

Daily – Short, from the 4533 short signal on 8/3.  Trade pressures are down. Volumes are now bearish. The next target down is 4432. The expected oversold level is 4491. A close above 4571 would signal higher. The expected overbought level is 4597.

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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 down 2% at approximately $117,000. The Year-to-Date portfolio performance is now up 17%.

 

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