S&P 500 Futures
Monthly - Retracing in the move up . Trade pressure are up. Volumes close the month of September as bullish. The next target up is the old high at 2947. A close below 2726 would confirm any weekly move lower.
Weekly - In the move down from the 2867 short entry. Trade pressures are down. Volumes are bearish. The next target down is 2739 which was touched this last week. A close above 2855 would confirm any daily move higher.
Daily - Long. The sharp down move of last week went thru the 2789 profit target level and then the subsequent lows of 2712 then set up a new long entry at 2770. Trade pressures are down but turning up. Volumes are neutral indicating short covering.
The next target up is 2864. This is a retracement move up inside the larger move down.
A close below the 2753 level would signal a resumption of the move down.
Set the initial stops at 2753; move them to the 2770 entry price as soon as practicable.
The Navellier TOP 5 portfolio was hit hard this last week, but remains up About $19,000 for the year.
[The author may be long or short in any of the securities mentioned.]