#emini #spfutures #SP500 #ES

Market Summary:

Copper is a new long.  Gold is consolidating.  Silver is consolidating near a new short entry. Interest rate moves should dictate the next move in the metals.

The Crude has turned down. Natural gas is in the chop mode.

The US 30yr Treasury Bond remains a cautious long.

The US Dollar futures have turned down with a sharp move late in the week.

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S&P 500 Futures #ESZ23

Monthly – November rallies off the 4100 lows. Trade pressures remain down into the neutral zone. Volumes closed the month of October as bearish. The next target down remains 4025. The September close below 4373 had confirmed the weekly move lower.

Weekly – The weekly moved sharply up off the 4122 low. Trade pressures remain down. Volumes have closed the week as slightly bullish. This close above 4364 has confirmed the Daily move higher. The next target up is 4634

Daily – Long from the 4184 open on 10/30, the prior Monday; which has now closed above the 200 day MA at 4338. Trade pressures are up. Volumes are bullish. Now well above the expected overbought at 4278 which would suggest some retracement here. A close below 4333 would signal lower.

SL 4350.

[11-7-23: Raise SL to 4378.]

[11-8-23: Stopped out at 4378.]

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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 $100,000. The Year-to-Date portfolio performance is now down 0%.

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