Market Summary:
Copper in a new long. Gold and Silver huge rally.
Crude continues the move up. Natural Gas basing.
The US 30yr Treasury continues lower, the 10yr yield at 4.71%.
The expected overbought level for the 10yr yieldat 4.75%.
The US Dollar – The USD basing.
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S&P 500 Futures #ESU26, #MESU26
Monthly –Monthly bar new high and remains above prior month. Trade pressures remain up, Volumes closed the month of July as bullish. The 7838 price is the new high. The next target up is 8684. A close below 7507 would confirm any weekly move lower.
Weekly – The weekly bar sells off the prior high. Trade pressures remain up, but declining. Volumes are now neutral. The next target down is 7653. A close below the 7590 would confirm any daily move lower.
Daily – Flat. In a new move down from 7738 on 8-18. Trade stopped out on 8/19. Trade pressures are down, Volumes remain bearish.
The next target down is 7638. The expected oversold level declines to 7616.
A close above 7713 would signal higher. The expected overbought level declines to 7835.
[OB/OS channel is declining.]
The VIX closes below 19, at 15.13 indicating market remains investable.
The Hedgeye.com VIX risk range is 13.90 – 16.54.
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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 $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 declines to $187,000.
The Year-to-Date portfolio performance is up 87%.
The Hedgeye.com GDP nowcast has GDP growth slowing and inflation rising (Quad 3) in the 3rd quarter, re-accelerating in the 4th quarter and slowing once again in the 1st quarter of 2027.
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 11.62%