Market Summary:
Copper new long. Gold and silver new longs on 5/24.
Crude up against the 4/7 downtrend line, breaks lower in the Sunday session. Natural Gas attempts another breakout then pulls back to support.
The US 30yr Treasury higher as the 10yr yield declines to 4.55%.
The expected overbought level for the 10yr yield rises to 4.69%.
The US Dollar – Higher but meeting resistance as the 10yr seems OB..
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S&P 500 Futures #ESM26, #MESM26
Monthly –Monthly bar making new ATH’s. Trade pressures remain up, but still declining. Volumes closed the month of April as bullish. The 7540 price is the adjusted high. The next target up is 7615. A close below 7229 would confirm any weekly move lower.
Weekly – The weekly bar higher off the Oct 31 resistance line which now becomes support. Trade pressures remain up. Volumes remain bullish. The next target up is 7615. A close below 7365 would confirm any daily move lower.
Daily – Long. From 7468 on 5/21. The 7441 short entry was stopped out at 7473. Trade pressures are up, Volumes are bullish.
The next target up is 7525. The expected overbought level rises to 7525.
A close below 7438 would signal lower. The expected oversold level rises to 7294.
[OB/OS trend is rising.]
The VIX closes below 19 at 16.70 indicating market is investable.
The Hedgeye.com VIX risk range is 16.44 – 18.81.
[5-23-26: Set the SL for the move up at 7477.][5-27-26: Raise the SL to 7510.]
[5-28-26: Stopped out for a gain at 7510.]
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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 reset to start at $100,000 for the 2026 year.
These Navellier Top 5 portfolio stocks closed:
Down 35% for the 2022 Year.
Up 17% for the 2023 Year.
Up 42% for the 2024 Year.
Up 48% for the 2025 Year
Portfolio stock values for 2026.
The portfolio value up for the week, at $167,000.
The Year-to-Date portfolio performance is up 67%.
The Hedgeye GDP nowcast has rising growth projected thru July, then slowing. This “up 67%” needs to be protected/taken at the first evidence of GDP slowing.
GE Vernova (GEV) will be replaced by Cenovus Energy (CVE) at the open on the next business day.
The S&P 500 YTD return is 8.77%