S&P 500 Futures_ #spfutures #eminifutures
Monthly - In the third month of a move up. Trade pressures are up. Volumes closed the month of May as neutral. Still in the move down from the 2662 weekly confirmation level. The next target down is 2304. A close above 2883 would confirm any weekly move higher.
Weekly - Continuing the rally inside the move down from the 2803 level. Trade pressures are up. Volumes are bullish. The next target down is 2589. A close above 2796 would confirm any daily move higher.
Daily - Flat. In the move higher from the 2629 long entry level and approaching that 2796 weekly confirmation level. Trade pressures are up. Volumes are bullish.
Moved easily thru the 2763 100% Fib target. The next target up is the march high of 2806. A large cluster of targets are in the 2800-2820 area. These should represent resistance and these new rallies are not confirmed with higher indicator highs.
A close below 2723 would signal a retracement lower.
Despite the market concerns, the Navellier Top 5 have continued their moves higher. The virtual portfolio of about $100,000 is up just over $18,000 YTD. Definitely outperforming the equity markets.