Contributor Since 2013
S&P 500 Futures_
Monthly - Five months into this downtrend. Trade pressures are rising into the neutral zone. Volumes closed the month of January as neutral. The next target down is 2372. A close above the 2900 level would confirm any new weekly move up.
Weekly - A break of the downtrend with a move up out of the down sloping pitchfork. Trade pressures are up. Volumes are bullish. The next target up is 2818. A close below 2648 would confirm any daily move lower.
Daily - Flat. Still in the move up from the 2412 level. Trade pressures are up and trending. Volumes are mixed, bearish to bullish. The December high of 2818 is the next target up. A close below the 2679 level would signal lower.
The 60 minute pressures are turning down so perhaps a short correction is in order. Will watch the daily volumes.
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Navellier Top 8 Stocks - The $100,000 virtual portfolio is down to $17,000 this week despite some very good earnings reports. On Monday Chicago Mercantile Exchange Grp (CME) will be replaced with Keysight Tech (KEYS) and Medifast (MED) will replaced with Arbor Realty (ABR).
[The author may have long or short positions in any of the securities mentioned.]