Author: ChasW

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is finding support at the short entry price. The gold short was stopped out. Silver is pulling back inside a longer term move up.

Crude is in a new long trade, but at resistance. Natural Gas is seeking a bottom.

The US 30 year Treasuries are moving side ways after a test of the 144 support.

The US Dollar futures are in a pullback after rallying to near the 96.77 level.

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S&P 500 Futures

Monthly – In the second month of a rally off the Christmas lows. Trade pressures are down but rising. Volumes closed the month of January as neutral. The next target down is 2372. A close above the 2900 level would confirm any weekly move higher.

Weekly – Seven weeks up in this rally. Trade pressures are up. Volumes are bullish for four of these weeks. The next target up is 2818. A close below the 2628 level would confirm any daily move lower.

Daily – Flat. The close of 2778 is at the weekly upper median line which should act as resistance. Trade pressures are up but showing some divergence. Volumes are bullish and bearish. The markets are all driven by events, or the hope of events; not a healthy situation.

The 60 minute long signal at 2702 yielded 75 points of a move up which would have been sold at the 2721 profit target. The next target up is the 2818 prior high pivot.

A close below the 2660 level would signal lower.

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Navellier Top 8 – The $100,00 virtual portfolio is now up by more than $19,000. A 19% year would be considered a superior return. One could be forgiven for taking the profit and waiting for lower prices. But the Top 8 will be adjusted throughout the year by replacing those companies that have moved out of their respective value ranges by other opportunities with better metrics.

{The author may have long or short positions in any of he securities mentioned.]

US$$

#usdollarfutures¬† #ustreasurybondfutures USD_ DXM19 Weekly – In the move up from the 92.50 level. Trade pressures are up. Volumes are bullish. Daily – In the move up from the 95.21 level. Trade pressures are up. Volumes are mixed bullish to bearish. Volatility¬† seems to rise and fall with the trade rumors. A spike up took…

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Oil & Gas

#crudeoilfutures #naturalgasfutures CRUDE_ CLJ19 Weekly – Six weeks into the move up. Meeting resistance at the 200 week MA. Trade pressures are rising out of the neutral zone. Volumes are bullish. Daily – Long. In the move up from the 54.71 new long entry. Trade pressures are up. Volumes are bullish and unusually large. The…

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Metals

#copperfutures #goldfutures #silverfutures COPPER_ HGH19 Weekly – Three weeks up, but still in the downtrend. Trade pressures are up. Volumes are bullish. Daily – Flat. In a new move down triggered at the 2.76 level.. Trade pressures are down into the neutral zone. Volumes are bullish. The 200 day Moving average is just above at…

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S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a pullback after meeting profit targets. Gold is a new short. Silver is stopped out of the long trade.

Crude is a new short. Nat Gas has met profit targets.

The US 30 Year Treasury Bond is looking for a new long trade.

The US Dollar futures are at the top end of a trading range.

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S&P 500 Futures_

Monthly – Still in the move down from the 2730 level. 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 2900 would confirm any weekly move higher.

Weekly – Rallied thru and closed below the 2721 upside target. Trade pressures are up in the neutral zone. Volumes have been bullish for the last four weeks. The next target up is 2816. A close below 2588 would confirm any daily move lower.

Daily – Flat. Completed a move down to the 2686 target on the hourly charts. Trade pressures are up. Volumes closed as bullish.

The next hourly target down is 2655.
A close above 2702 would signal higher on hourly.

The daily technical pressures are down. The earnings estimates for the S&P 500 are being lowered by the analyst community. 1Q19 and 2Q19 are down to 2 and 3 percent growth. The 2H19 looks better but is still subject to downward revisions.

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Navellier Top 8 – The $100,000 virtual portfolio is up $14,000 for the YTD. The portfolio companies have reported good 4Q18 earnings and positive guidance for the upcoming quarters. As the average earnings expectations for the general market are reduced by analysts, these better fundamentals will be increasingly attractive to the fund managers.

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

US$$

#usdollarfutures¬† #ustreasurybondfutures USD_ DXH19 Weekly – In the long move up that started in early 2018. Trade pressures are rising into the neutral zone. Volumes are mixed bearish to bullish. Daily – Trading in the 94.50 – 96 channel. Now at the upper end of the range. Trade pressures are up. Volumes are bullish. Also…

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Oil & Gas

#crudeoilfutures #naturalgasfutures CRUDE_ CLH19 Weekly – Seven week rally off the Christmas lows. Trade pressures have risen into the neutral zone. Volumes remain bullish. Daily – Short. The trade up to the 55.88 target then down to the new short entry stopped the long trade. Trade pressures are down. Volumes are bearish. The new short…

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Metals

#copperfutures #goldfutures #silverfutures COPPER_ HGH19 Weekly – In the six month channel between 2.60 and 2.90. Trade pressures are up Volumes are bullish. Daily – Flat. Took profits at the 2.83 upside target. Trade pressures are up. Volumes are now neutral. Expecting retracement. 2.76 would signal a move down. The next target up is the…

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S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper has made nice move up. Gold and Silver also have moved but are now looking toppy.

Crude oil continues the move up but is very close to upside targets, expect retracement. Natural Gas is moving down in the midst of one one of the coldest weeks on record.

The US 30 year Treasuries are in a shallow pullback, looking for higher.

The US Dollar futures are testing the prior lows. Could have a bounce.

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S&P 500 Futures_

Monthly – Very near a 62% retracement of the move down from the 2951 high. Trade pressures are rising into the neutral zone. The next target down is 2372. A close above the 2900 level would confirm any new weekly move up.

Weekly – The sixth week of the move higher. Trade pressures are up into the neutral zone. Volumes are still bullish. The next target up is 2721. A close below 2566 would confirm any daily move lower.

Daily – Flat. Looks to be the fifth wave in this move up from 2412. Trade pressures are up but turning down. Volumes are bullish. The next target up is 2721. A close below 2597 would signal lower.

Price has moved just above the 2695 level reclaiming all the 2108 losses and now even ahead of the 2017 yer end close.

Crude, Gold and the S&P index are all at upside targets, be alert for a new move down in all three.

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Navellier Top 8 Stocks are doing well in the earnings season. The $100,000 Virtual portfolio is up about $12,000 in this month of January. A fast move up and not likely to continue at this rate.

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