Market Summary:

Copper still in a retracement down.  Gold rallied hard off the lower channel bound.  Silver rallies to the resistance line.

The Crude fails second attempt at a long entry.  Natural gas continues the rise in the downtrend.

The US 30yr Treasury Bond in retracement.  10yr rates are selling off.

The US Dollar futures can’t get above the November downward trendline.

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S&P 500 Futures   #ESH24

Monthly – January begins with a selloff, but seemingly, no follow thru. Trade pressures remain down into the neutral zone. Volumes closed the month of December as bullish.  The next target up is 5173.  A close below 4530 would confirm any weekly move lower.

Weekly – The weekly turns down off the 4841 highs.  Trade pressures remain up.  Volumes remain neutral.  The next target up remains 4895.  The next target down is 4701 and would confirm any daily move lower.

Daily – Flat, In the move down after a lower high on 1/2.  Trade pressures are down.  Volumes remain bullish.  The next target up is 4859 which would be a new long entry.  The overbought level rises to 4797; well below the next target up.  Still expect lower.  A close below 4701 would signal lower. The expected oversold level rises to 4672.

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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.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024 closed at approximately $101,000. The Year-to-Date portfolio performance closed up 1%.

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