Market Summary:
The 10yr yields hold at 4.07%. Copper finds support at the 200 day MA. Gold rallies out of a bull flag. Silver rallies off the Median line support at 30.50.
Crude short almost complete. Natural Gas continues move down. Texas opens new NG pipeline to Gulf..
The US 30yr Treasury Bond lower still; the 10yr yields holding in the 4’s.
The US Dollar breaks above the 200 day MA; near overbought.
_________________
S&P 500 Futures #ESZ24
Monthly –Monthly bar still higher. Trade pressures remain up. Volumes closed the month of September as bullish. The next target up remains at 6019. A break below 5607 would confirm any weekly move lower. The next target down then would be 5260.
Weekly – The weekly has a higher close again. Trade pressures are just above the neutral zone. Volumes remain low, but bullish. The next target up is 6057 (new highs). A close below 5782 would confirm any daily move lower.
Daily – Long. After a small retracement, price breaks out of the bull flag at 5794 at the week’s close (10/9). Trade pressures remain up but have declined to near the neutral zone. Volumes are bullish.
The next target up remains 5876. The expected overbought level rises to 5894.
A close below 5776 would signal lower. The expected oversold level rises to 5725.
Beware of the chop going into the Election.
[10-18-24: Raise the SL to 5876]
___________________
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 value holds at $144,000. The Year-to-Date portfolio performance is up 44%.
[The author may be long or short any of these issues mentioned],