Market Summary:
Copper at resistance, In a narrow range, readying for up or down. Gold and Silver moves down to consolidation area.
Crude moves up off retest of breakout levels. Natural Gas moves up slowly.
The US 30yr Treasury – A break above the downward channel boundary remains the objective,
The 10yr yield at 4.78%. The expected overbought level for the 10yr yield at 4.84%.
The US Dollar – The USD a new short entry. Treasury actions?
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S&P 500 Futures #ESU26, #MESU26
Monthly –Monthly bar close remains above prior month. Trade pressures remain up, Volumes closed the month of August 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 at the prior week’s close. Trade pressures remain up, but declining. Volumes are now bullish. The next target down is 7667. A close below 7590 would confirm any daily move lower.
Daily – Flat. Another rally to the upper median parallel in attempt to break out. This is also another potential lower high. Trade pressures are up, Volumes remain bearish.
A close above 7764 would signal higher to 7838. Testing this resistance now. The expected overbought level declines to 7781.
The next target down remains 7638. The expected oversold level rises to 7652.
[OB/OS channel is narrowing.]
The VIX closes below 19, at 14.53 indicating market remains investable.
The Hedgeye.com VIX risk range is 13.75 – 16.33.
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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 rises to $190,000.
The Year-to-Date portfolio performance is up 90%.
The Hedgeye.com GDP nowcast has GDP growth slowing and inflation rising (Quad 3) in the 3rd quarter, re-accelerating in the 4th quarter with both growth and inflation rising 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 13.18%