Market Summary:

Copper near oversold.  Gold in new sideways channel, looking for the 2014 oversold level.  Silver pulls back to retest the breakout.

The Crude now long as GDP looks positive.  Natural gas remains in the downtrend, now needs 1.90 to get long.

The US 30yr Treasury Bond selling off with the 10yr yields rising.

The US Dollar futures in the move up, but overbought.

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S&P 500 Futures   #ESH24

Monthly – February continues the new highs. Trade pressures remain in the neutral zone. Volumes closed the month of January as bullish.  The next target up is 5173.  A close below 4737 would confirm any weekly move lower.

Weekly – The weekly rallies above the prior week highs once again.  Trade pressures remain up.  Volumes are bullish.  The next target up is 5390.  A close below 4915 would confirm any daily move lower.

Daily – Flat, In the new move up after the close above 4926 into new highs.  Trade pressures are up.  Volumes remain bullish.  The next target up is 5079.  The overbought level rises to 5018; still below the next target up. So, expect consolidation and retracement.  A close below 5026 would signal lower. The expected oversold level rises to 4850.

[2-13-24: Short at 5020.  Set SL at 5040.  TP at 4918.]

[2-14-24: Lower SL to the breakeven, 5020.] [2-14-24: Stopped out at the Close.]

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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 much higher, with the move in the AI related stocks, at approximately $119,000. The Year-to-Date portfolio performance closed up 19%.

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