Market Summary:

The 10yr yields rise. Copper oversold.  Gold moves up late in the week after reaching oversold.  Silver moving up again; support rises to the low 29’s.

Crude meeting resistance.  Natural continues the move down.

The US 30yr Treasury Bond turned down mid week. The 10yr yield support levels moving up slowly.

The US Dollar futures now at price target; but other currencies under stress.

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S&P 500 Futures   #ESU24

Monthly –Price showing signs of consolidation above 5500. Trade pressures remain up. Volumes closed the month of June as bullish.  The next target up is 5958.  A close below 5277 would confirm any weekly move lower.

Weekly – The weekly has lower high for the weekly close.  Trade pressures remain up.  Volumes remain bullish.  Touched the 5585 target up but closed lower.  A close below 5277 would confirm daily move lower.

Daily – Flat.  The 5575 area finds resistance. Trade pressures are up but turning down.  Volumes remain bearish.  The expected overbought level has declined to 5509; again below the actual highs. The next target down is 5447. A close below the 5447 target also signals lower.  The expected oversold level rises to 5421,

Expect support of the lower bound of the parallel channel from the April low near 5437 .

[7-1-24: Short ESU24 at 5527.] [Set SL at entry price.] [Stopped out of the short intra day.]

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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 held values around  $129,000. The Year-to-Date portfolio performance is now up 29%.

Nutanix (NTNX) is replaced by Eli Lilly (LLY) at the next open.