Author: ChasW

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is at resistance. Gold and silver continue to base awaiting the stimulus agreement.

Crude oil is drifting in a long channel; is storage filling up? Natural gas is in a second leg up.

The US Treasury bond futures are in a move down.

The US Dollar futures are also in a move down.

_______________________

S&P 500 Futures_

Monthly – Still at the high end of the monthly bar. Trade pressures are up. Volumes closed the month of Sept as bullish. The next target up is 3948. A close below 3154 would confirm any weekly mover lower.

Weekly – Have broken above the down trend line, the upper median line. Trade pressures are up but reversing. Volumes remain bullish. The next target up is the 3576 prior high. A close below 3273 would confirm any daily  move lower.

Daily – Broke above the daily upper median line last week. Looked for a pullback, which happened thursday. Trade pressures are down into the neutral zone. Volumes are bullish. Need a reversal in the daily Trade pressures to commit to a new long. Earnings next week may be the catalyst. A close below 3385 level would signal a new move lower.

_______________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks benefited from the rally this last week. The portfolio stocks were up for the week and are now valued at approximately $133,000, up 33% for the YTD. This move up has absorbed the March down move of 32%.

The portfolio fundamentals continue to be important. Institutions are likely buying these TOP 5 better fundamentals into the next earnings reports..

 

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

US$$

#usdollarfutures  #ustreasurybondfutures

USD_ DXZ20

Weekly – In the  move down to the 89.335 target level. Trade pressures are up into the neutral zone. Volumes are bullish.

Daily – In the downtrend. Trade pressures are up but reversing. Volumes are bullish.

The September close thru the 94.08 has the Dollar futures in a retracement move up. The next target up is 96.44.

A close below 92.61 would signal a break lower.

 

US 30YR T-BONDS_ USZ20

Weekly – Remains in the long uptrend and sideways for the summer. Trade pressures are down. Volumes are bearish. Looking for higher rates and the stimulus package.

DAily – Flat. In the move down from the 176-20 short entry. Trade pressures are down into the neutral zone. Volumes are bearish.

The next target down is 170-16, with the 200 day MA at 172-21.

A close above 176-17 would signal higher.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLZ20

Weekly – Tracking sideways down the 42 line. Trade pressures are up into the neutral zone. Volumes are bullish.

Daily – Flat. Testing the downtrend resistance line and the 200 day MA. Trade pressures are up. Volumes are bullish.

The next target down is 35.86.

A close above the 200 day MA at 41.12 would signal higher.

 

NAT GAS_ NGX20

Weekly – Remains in the up trend but testing support. Trade pressures are up into the neutral zone.

Daily – Flat. In the move up from the 2.62 level. Trade pressures are up into the neutral zone. Volumes are bullish.

Rallied off the the entry price to the 2.90 then back-tested the entry price; and now in a new leg up. The next target up is the 2.90 resistance level once again.

A close below 2.40 would signal lower.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGZ20

Weekly – In the uptrend. trade pressures are in the neutral zone. Volumes are bullish.

Daily – Flat. Testing the upside resistance of the downtrend. Trade pressures are up. Volumes are bullish.

A close above the prior high starts a new uptrend.

The next target down is 2.89.

 

GOLD_ GCZ20

Weekly – remains in the uptrend. Trade pressures are down but rising. Volumes remain bearish.

Daily – Flat. In the downtrend. Trade pressures are up. Volumes are bullish.

The next target down is 1835.

A close above 1957 would signal higher.

 

SILVER_ SIZ20

Weekly – In the uptrend. Trade pressures are down. Volumes are bearish.

Daily – In the down trend. Trade pressures are up. Volumes are neutral.

The next target down is the prior low at 21.81.

A close above the 25×5 at 24.75 would signal higher.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is testing upper resistances. Gold and silver are turning higher.

Crude is in the same 35-45 channel. Natural gas is in a new move up.

The US 30 year Treasury is testing support.

The US Dollar futures are at support.

_______________________

S&P 500 Futures_

Monthly – MTD is still near prior month close. Trade pressures are up. Volume close the month of September as bullish. The next target up is the prior high of 3576 then 3948. A close below 3156 would confim,r any weekly close lower.

Weekly – The 4 week retracement stopped at the new short entry of 3273. Trade pressures are up but rolling over. Volumes are still bullish. The next target up is the prior high of 3576. A close below the short entry at 3273 would confirm any daily move lower.

Daily  – Flat. Friday close was a break-out above the downward sloping andrews upper median line. Trade pressures are up. Volumes are bullish. Expect a back test of this breakout; could use that as an entry around the 3400 level. The next target up is 3533. A close below 3395 would signal a new move lower.

_______________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks benefited from the rally these last two weeks. The portfolio stocks were up for both weeks and are now valued at approximately $131,000, up 31% for the YTD. This move up has absorbed the March down move of 32%.

The portfolio fundamentals continue to be important as the market narrows. Institutions are likely buying these TOP 5 better fundamentals into the next earnings reports..

 

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

US$$

#usdollarfutures  #ustreasurybondfutures

Weekly – Remains in the downtrend. Trade pressures have risen into the neutral zone. Volumes are bullish.

Daily – The late September breakout rallied to 94.70 and is now in retracement. Trade pressures are down. Volumes are bearish.

The next target down is 92.53 and would break the uptrend support line.

A close above 94.25 would signal higher.

 

US 30YR T-BOND_ USZ20

Weekly – The October 2018 uptrend is still intact but under pressure. Trade pressures are down. Volumes are bearish.

Daily – Flat. At the confluence of multiple targets at this 173-16 level. Trade pressures are down and trending. Volumes are bearish.

A break of this support would send price down to the 170-16 target. The new stimulus package is perhaps a trigger.

A close above the 25×5 MA at 175-31 would signal higher.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLX20

Weekly – Trading in the 35 and 45 dollar channel. Trade pressures are down but basing. Volumes are bullish.

Daily – Flat. At the downtrend resistance line. Trade pressures are up. Volumes are bullish.

The next target down is 35.05.

A close above 42.13 would signal a new move up.

 

NAT GAS_ NGX20

Weekly – Testing the support of the uptrend. Trade pressures are down but rising. Volumes are bullish.

Daily – Long. In a retracement move up inside the September downtrend from the 2.62 entry. Trade pressures are up. Volumes are bullish.

The next target up is 2.90.

The next target down is 2.27.

Resistance at the 2.90 levels. Set the stops at the 2.37 prior low.

[10-13-20: Raise stop to 2.65 the breakeven.]

[10-14-20: stopped out at breakeven.]

 

 

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGZ20

Weekly – Remains in the uptrend. Trade pressures are down into the neutral zone. Volumes are bullish.

Daily – Flat. In a retracement in the  move down.   Trade pressures are up. Volumes are bullish. The next target down is the 200 Day MA at 2.68. A close above 3.12 would signal a new move higher.

 

GOLD_ GCZ20

Weekly – Retracing In the uptrend.  Trade pressures are down  but rising. Volumes are bearish.

Daily – Flat. In the downtrend. Trade pressures are down. Volumes are bullish.

The next target down is 1835, which should complete the retracement.

A close above 1959 would signal higher.

 

SILVER_ SIZ20

Weekly – In a similar retracement as gold. Trade pressures are down. Volumea are bearish.

Daily – Flat. Touched the downside target at 21.87 on 9-24. Trade pressures are up. Volumes are bullish.

Expect sideways. The next target down would be a back test of the 24.00 level, Need a close above 26.00 to restart the move up.

Silver looks to lead gold on the next move.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper has pulled back to trest support. Gold and Silver declined into the weeks-end as the dollar strengthened.

Crude oil remains in consolidation. Natural gas had a hard sell off down to 2.48 and rebounded into the close for the week.

The US 30 year Treasuries are in a slow move up in the face of a rising dollar.

The US Dollar futures are in the new move up after the basing completed.

_______________________

S&P 500 Futures_

Monthly – Over a 300 point drop so far for the month. Trade pressures are up. Volumes closed the Month of August as bullish, albeit on light volumes. The next target up will be the prior high at 3576. A close below 3115 would confirm any weekly move lower.

Weekly – In a retracement down form the 3576 highs. Trade pressures are up but rolling over. Volumes are bullish. The next target up is 3642. A close below 3273 would confirm any daily move lower.

Daily – Short. In the move down from the 3350 short entry. Trade pressures are down but rising. Volumes are now neutral. The next target down is 3239 with the profit target at 3128. A close above the 25×5 MA at 3388 would signal higher.

[9-27-20: Set the stop at 3320.] [9-28-20: Stopped out in the AM. Look for a new short opportunity near 3358]

_______________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks countered the market sell off once more this last week. The portfolio stocks were up for the week and are now valued at approximately $122,000, up 22% for the YTD.

The portfolio fundamentals continue to be important as the market narrows. Institutions are buying these better fundamentals into the quarter end.

Kroger (KR) and West Pharmaceuticals (WST) will be replaced at the open on Monday with GenMab (GMAB) and Novamax (NVAX).

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