#emini #spfutures #SP500 #ES

Market Summary:

Copper attempted another rally but not quite a new long yet.  Gold was stopped out with a profit, (watch the movement for signs that the hedgers have new info on the Middle East events).  Silver near a new short entry.

The Crude has turned up. Natural gas is in another retracement after reaching overbought.

The US 30yr Treasury Bond is again a cautious long.

The US Dollar futures have turned up once again, still a safe haven trade.

_________________

S&P 500 Futures #ESZ23

Monthly – The third month down. Trade pressures remain down into the neutral zone. Volumes closed the month of September as bullish, October, while not quite finished, looks bearish. The next target down remains 4025. The close below 4373 had confirmed the weekly move lower.

Weekly – The weekly moved sharply down after breaching the downside target of 4280. Trade pressures are down. Volumes have closed the week as bearish.  The next target down is still 4030. A close above 4364 would confirm any Daily move higher.

Daily – Flat. Made a third touch on the downward sloping median line and closed up off that line setting the stage for a possible rally.  Trade pressures are down. Volumes remain bearish. At the 4124 downside target. The next target down is 4030. The expected oversold level is 4099. A close above 4177 would signal higher.  In the event of a rally, the expected overbought is 4298.

[10-31-23 long at the 4184 open. ]

[11-2-23: SL at 4254.]

[11-3-23: SL 4350.]

___________________

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 $95,000. The Year-to-Date portfolio performance is now down 5%.

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