Market Summary:

The 10yr yields decline. Copper continues lower.  Gold consolidating at the median line.  Silver in a channel down; support remains in the low 28’s.

Crude rallies; now looking for a breakout.  Natural gas makes a lower high with pressures down.

The US 30yr Treasury Bond rises after FED says “rate cut”. The 10yr yield support levels remain at 4.19%.

The US Dollar futures break out of the bull flag is looking higher; OB and OS levels both trend higher.

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S&P 500 Futures   #ESU24

Monthly – June zips thru the 5439 upside target. Trade pressures remain up. Volumes closed the month of May as bullish.  The next target up is 5958.  A close below 5208 would confirm any weekly move lower.

Weekly – The weekly continues with higher weekly closes.  Trade pressures remain up.  Volumes remain bullish.  The next target up is now the upper median line at 5593.  A close below 5208 would confirm daily move lower.

Daily – Flat.  The 5/3 rally corrected down to the lower parallel line, then resumed the move up and is now at the 5511 upside target. Trade pressures are up.  Volumes are bullish.  The next target up is 5575. The expected overbought level has risen to 5462; but below the actual highs and below the upside target.    A close below 5378 would signal lower.  The expected oversold level rises to 5296.

[Watch the 5450 MA level, for signs of weakness.]

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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 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 slightly again for the week, as the data center stocks hold around  $127,000. The Year-to-Date portfolio performance is now up 27%.