Market Summary:
Copper still in second leg up. Gold and Silver rally fails; remains in the consolidation area.
Crude pulls back from 92 OB. Natural Gas is oversold.
The US 30yr Treasury continues down as the 10yr yield rises to 4.75%.
The expected overbought level for the 10yr yield rises to 4.75%.
The US Dollar – The USD in a new short, but OS.
_________________
S&P 500 Futures #ESU26, #MESU26
Monthly –Monthly bar continues lower off the prior month highs; now a spinning top. Trade pressures remain up, Volumes closed the month of July as bullish. The 7694 price remains the adjusted high. The next target up is 8684. A close below 7384 would confirm any weekly move lower.
Weekly – The weekly bar rising to back test the trend breakdown. Trade pressures remain up, but declining. Volumes are now bullish. The next target down is 7325. The close below the 7500 median line support did confirm the daily move lower. A close above 7587 would confirm a daily move higher.
Daily – Long. Stopped out of the short trade and closed above 7486 pon 7/31. Trade pressures are up, Volumes are now bullish.
The next target up is 7588. The expected overbought level rises to 7538.
A close below 7446 would signal lower. The expected oversold level declines to 7316.
[OB/OS trend is widening.]
The VIX closes below 19, at 15.90 indicating market is investable.
The Hedgeye.com VIX risk range is 15.79 – 20.56.
[8-2-26: Set the SL at 7476. Take profits at 7538.]
__________________
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 $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 is in all cash, at $175,000.
The Year-to-Date portfolio performance is up 75%.
The Hedgeye.com GDP nowcast has GDP growth slowing in the 3rd quarter, re-accelerating in the 4th quarter and slowing once again in the 1st quarter of 2027.
Up 75% in the Navellier Top 5 for the first half of 2026 warranted profit taking.
6/26 – Now all cash for the summer; re-entering late July or early August, or re-entering if Navellier adds more defensive names.
7/25 – Quad shift (GDP and Inflation) to Quad 3 from a Quad 4 is likely in early August. Will look to re-enter positions.
8/2 – Re-entering the new Top 5 at the next open. CIEN, DINO, ENLT, MU, STX.
The S&P 500 YTD return is 8.65%