Market Summary:

Copper breaks much higher above recent high.  Gold continues the prior week rally.  Silver has dramatic second leg up.

Crude remains in consolidation; volumes turning bullish..  Natural gas continues the rally, but approaching resistances.

The US 30yr Treasury Bond showing resistance. The 10yr yields still near support levels.

The US Dollar futures continue the move down down; but nearing support levels.

_________________

S&P 500 Futures   #ESM24

Monthly – May moving up to erase the April 2024 move down. Trade pressures remain up. Volumes closed the month of April as bearish.  The next target up is 5439.  A close below 5030 would confirm any weekly move lower.

Weekly – The weekly closes up for the fourth week.  Trade pressures remain up; and still declining.  Volumes remain bullish.  The move up has reached the prior high. The next target up is the upper median line at 5464.  A close below 5038 would confirm daily move lower.

Daily – Flat.  The rally started on 5/3 continues. Trade pressures are up.  Volumes remain bullish.  The close above 5271 started a second leg up in the uptrend.  The expected overbought level has risen to 5324.  The expected oversold level rises to 5133.  A close below 5284 would signal lower.

At resistance now. Watching the 10 yr yield. NVDA earnings are announced May 21st and could provide the catalyst for a market move either way.

___________________

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 2024 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.  The portfolio moved down for the week to approximately $134,000. The Year-to-Date portfolio performance is now up 34%.