Market Summary:

Copper moves up off the oversold levels.  Gold breaks down looking for the 1992 oversold level.  Silver breaks out to the upside.

The Crude testing resistance.  Natural gas remains in the downtrend, now needs 1.65 to get long.

The US 30yr Treasury Bond still down with the 10yr yields rising.

The US Dollar futures in the upward channel, but overbought.

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S&P 500 Futures   #ESH24

Monthly – February continues more new highs. Trade pressures are up just out of the neutral zone. Volumes closed the month of January as bullish.  The next target up is 5173.  A close below 4755 would confirm any weekly move lower.

Weekly – The weekly closes below the prior week high.  Trade pressures remain up.  Volumes are bullish.  The next target up is 5390.  A close below 4933 would confirm any daily move lower.

Daily – Flat, Now showing lower highs.  Trade pressures are down but rising.  Volumes remain bullish.  The next target up is 5079.  The overbought level rises to 5064; still below the next target up. Again, expect consolidation and retracement.  A close below 4988 would signal lower. The expected oversold level rises to 4915.

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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 February move in Super Micro up from 600 to a high of 1070 closing at 815, at approximately $123,000. The Year-to-Date portfolio performance closed up 23%.

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