Market Summary:

Copper new long failed, looking for support.  Gold breaks down.  Silver is a short. (What’s this mean for the Middle east?)

The Crude is down looking for support. Natural gas breaks down.

The US 30yr Treasury Bond stopped out but remains a cautious long.

The US Dollar futures have turned down; but found support at the upsloping median line.

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S&P 500 Futures #ESZ23

Monthly – November headed for a back test of the breakdown. 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 continues the move up off the 4122 low and has closed above the 4364 new long entry. Trade pressures remain down but rising. Volumes have closed the week bullish again. This close above 4364 has confirmed the Daily move higher, and now permits buying the dips. The next target up is 4497.

Daily – Stopped out of the long from 4184 on 11/08, at 4378. Trade pressures are up. Volumes remain bullish. The expected retracement was shallow, now have a break above the October highs. A close above 4426 would signal a new long. Current support is the 200 day MA at 4343.

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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 $105,000. The Year-to-Date portfolio performance is now up 5%.

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