Market Summary:
Copper in a pullback after a run to 66.84. Gold and Silver huge rally, now followed by a sharp drop..
Crude breaks out and now retesting the breakout area. Natural Gas continues basing.
The US 30yr Treasury rises to test the cannel boundary, The 10yr yield at 4.72%.
The expected overbought level for the 10yr yield at 4.76%.
The US Dollar – The USD a new long entry.
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S&P 500 Futures #ESU26, #MESU26
Monthly –Monthly bar new high and the close 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 retraces sme of the selloff. Trade pressures remain up, but declining. Volumes remain neutral. The next target down is 7667. A close below the 7590 would confirm any daily move lower.
Daily – Flat. A rally to the upper median line followed by a another selloff; establishes a lower high. Trade pressures are up, Volumes remain bearish.
The next target down remains 7638. The expected oversold level rises to 7620.
A close above 7782 would signal higher. The expected overbought level declines to 7788.
[OB/OS channel is widening.]
The VIX closes below 19, at 14.56 indicating market remains investable.
The Hedgeye.com VIX risk range is 14.26 – 16.47.
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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 $182,000.
The Year-to-Date portfolio performance is up 82%.
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.
8/29 – replace Sinclair (DINO), Enlight Renewable energy (ENLY), and Seagate Tech (STX) with Marathon Petro (MPC), PhillIps 66 (PSX), and San Disk (SNDK) at the next open.
The S&P 500 YTD return is 12.94%