Market Summary:
Copper retests the rising support and fails. Gold now in a sideways channel between 4100 and 4200. Silver rally fails and tests a warning line at 55.50.
Crude breaks out above 91. Natural Gas move up van’t break overhead resistance.
The US 30yr Treasury – A break above the trend line allows for a long trade, tight stops.
The 10yr yield at 5.15%. The expected overbought level for the 10yr yield at 5.36%.
The US Dollar – The USD moves above the OB level. Lower highs signal a correction, but Long trade is intact.
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S&P 500 Futures #ESZ26, #MESZ26
Monthly –Monthly bar falls below the prior month. Trade pressures remain up, Volumes closed the month of September as bullish. The 7906 price remains the high. The next target up is 8752. A close below 7575 would confirm any weekly move lower.
Weekly – The weekly bar is below the prior week’s close. Trade pressures remain up, but declining. Volumes are now neutral and lower than usual. The next target down is the 7567 support level. The close below 7721 has confirmed the daily move lower.
Daily – Short. The lower highs warned of a move down, which was confirmed after the trend break at 7814. Trade pressures are down. Volumes are bearish.
The next target down is 7573. The expected oversold level rises to 7701.
A close above 7732 would signal higher. The expected overbought level rises to 7850,
[OB/OS channel is rising.] The rising OB/OS channel suggests any move down may be limited.
The VIX closes > 19, at 19.9 indicating market moving into the chop area.
The Hedgeye.com VIX risk range is 14.84 – 17.70.
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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 value declines to $196,000.
The Year-to-Date portfolio performance is up 96%.
The Hedgeye.com GDP nowcast has GDP growth rising and inflation rising (Quad 2) in the 4rd quarter, slowing once again in the 1st quarter of 2027 with slowing Growth and Inflation (Quad 4).
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 – Monthly 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.
10/4 – Replace Ciena (CIEN) and Micron (MU) with Dell Tech (DELL) and Plains GP Holdings (PAGP), at the next open.
The S&P 500 YTD return is 13.13%