S&P 500 Futures_
Monthly - Six months up to new highs and now one week of a pullback. Trade pressures are up. Volumes closed the month of September as bullish. The next target up is 3383. A close below 2726 would confirm any weekly move lower.
Weekly - Five weeks of a consolidation at the 2927 upside target. Trade pressures are up. Volumes are bullish which suggests rotation rather than a selloff. The next target up is 3234. A close below 2867 would confirm any daily move lower.
Daily - Flat. Ten days of consolidation at the 2936 upside target and two days of selling. Trade pressures are down. Volumes remain net bullish.
The next daily target up is 2988.
2886 is the next short entry level and the uptrend support line is just below at 2871. If this short is triggered and the support fails, then the next target down is 2789.
The Navellier Top 5 have performed well over this year. The DOW 30 is up 5-7 percent while the Top 5 Are near 20%.
[The author may have long or short positions in any of the securities mentioned.]