S&P500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper’s Tried to break down but recovered late in the week.  Gold down fails and now in a retest of support which has become resistance. Silver held the 22.87 support.

The Crude is overbought. Natural gas falls after breakout.

The US 30yr Treasury Bond needs to breakout of the wedge formation.

The US Dollar futures remain in the move up, but remain overbought.


S&P 500 Futures #ESZ23

Monthly – The spinning top selloff is testing monthly support. Trade pressures remain up. Volumes closed the month of August as bullish. The next target up remains 5010. A close below 4373 would confirm any weekly move lower.

Weekly – The weekly has two weeks of a move down. Trade pressures are still up, but are turning down. Volumes remain bearish. The close below 4583 confirms the daily move lower. The next target down is 4280. A close above 4640 would confirm any Daily move higher.

Daily – Flat. In the pull back from the 4566 resistance trend line.  Trade pressures are down. Volumes are bearish. A close above 4566 would signal short term higher. The next target up is 4593.  But the expected overbought level is 4534.  A close below 4484 would signal lower. The expected oversold level is 4405.


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 marked to the market and is restarted at $100,000 for the 2023 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.

Portfolio values closed down hard for the week at approximately $105,000 with the new changes. The Year-to-Date portfolio performance is now up 5%.

[The author may have long or short positions in any of the securities mentioned.]

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