Market Summary:

Copper remains strong.  Gold correction continues, but at support.  Silver hit the profit stop and is now in correction but also near support.

Crude remains in consolidation near 80.00.  Natural gas continues the move down breaking support and showing lower targets.

The US 30yr Treasury Bond moves slightly higher. The 10yr yields near upper channel resistance.

The US Dollar futures tests the 106 resistance levels once again. A small bull flag is forming

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S&P 500 Futures   #ESM24

Monthly – April tests March lows. Trade pressures remain up. Volumes closed the month of March as bullish.  The next target up is 5439.  A close below 5022 would confirm any weekly move lower.

Weekly – The weekly closed below the new short entry at 5193.  Trade pressures remain up, but declining.  Volumes are now bullish.  The 4986 downside target was touched.  A close above the prior week’s open at 5166 would confirm any daily move higher.

Daily – Flat.  The close below 5193 signaled lower and the move down to 4986 validated the trade . Trade pressures are now up.  Volumes are now neutral.  The next target up is a test of the 5195 resistance.  The overbought level drops again now to 5125 (more lower highs on the OS/OB).  The expected oversold level is declining to 4951.

A  break above 5195 would signal new highs. Look for another dip near oversold levels to enter any new long.

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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, moved 8% lower in the last two weeks but rallied to close one percent lower, at approximately $130,000. The Year-to-Date portfolio performance closes up 30%.

Progressive Insurance (PGR) and Royal Caribbean (RCL) replace Super Micro (SMCI) and Parsons (PSN) at the next open.