Market Summary:

Copper long in second attempt to close above the 200 day.  Gold rallies inside the downward channel.  Silver breaks out of the downward channel with a large gap up.

The Crude fails support, looking for a new long entry around 76.  Natural gas rising in the downtrend.

The US 30yr Treasury Bond reached upside target of 120-22, backed off and then ran up again.

The US Dollar futures fail at the upper channel of the downtrend.  Down below the 200 day rising to fill the downside gap.

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S&P 500 Futures   #ESH24

Monthly – December trades above the Summer 2023 highs. Trade pressures remain down into the neutral zone. Volumes closed the month of November as neutral.  The next target down is 4478.  The next target up is 5173.  A close below 4478 would confirm any move lower.

Weekly – The weekly continues the move up off the 4362 long entry on 11/03 and has closed above the upper median line (4705).  Trade pressures remain up.  Volumes have closed the week as bullish again.  The next target up is 4926. A close below 4520 would confirm any daily move lower.

Daily – Flat, In the move up after the 11/10 break above the 4466, triggering a long entry for a second leg up.  Trade pressures are up.  Volumes remain bullish.  Friday closed at 4791 above the late July highs.  The next target up is 4844.  A close below 4651 would signal lower. Expect a choppy market for the rest of the month/year.

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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 $114,000. The Year-to-Date portfolio performance is now up 14%.

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