#emini #spfutures #SP500 #ES

Market Summary:

Copper’s near support.  Gold and Silver bounce from the 200 day MA failed, in a full downtrend but seeing support nearby.

The Crude continued the move to the upside, took profits at 84, looking toppy. Natural gas has sharp move up but gives most back.

The US 30yr Treasury Bond attempted a rally but now lower.

The US Dollar futures failed at the 103 resistance once and now attempting a breakout.

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S&P 500 Futures #ESU23

Monthly – The 4634 prior weekly close was 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 continues the move lower. Trade pressures are still up. Volumes is now neutral. The next target up is still 4558 . A close below 4437 is needed to confirm any daily move lower. There is trendline support at 4424.

Daily – Short. In the move down 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 4414 and support is at 4424. A close above 4504 would signal higher. The expected overbought level is 4522.

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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 hard at approximately $109,000 with the $100 crash in Super Micro. The Year-to-Date portfolio performance is now up 9%.

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