Author: ChasW

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – Remains in the December 2023 uptrend. Trade pressures are now up. Volumes remain  bullish.

Daily – Flat. The 3.88 profit stops was met.  Trade pressures are up but turning down.  Volumes remain bullish.

The next target up is 3.91.  The expected overbought levels are 3.95.

A close below 3.83 would signal lower. The expected oversold levels are 3.68.

 

GOLD_ GCJ24

Weekly – In the December 2023 uptrend.  Trade pressures are in the neutral zone.  Volumes remain bearish.

Daily – Flat. Now at the top band of the channel.  Trade pressures are up but lower highs.  Volumes are bullish.

The next target up is still 2073. The expected overbought level is 2052 (lower high).

A close below 2037 would signal lower.  The expected oversold level is 1995.

 

SILVER_ SIH24

Weekly – In the December uptrend, near support.  Trade pressures are down but rising into the neutral zone.  Volumes are neutral.

Daily – Flat. The break above the Dec trend line failed and is now backtesting the breakout.  Trade pressures are down.  Volumes are now neutral.

The next target up is a 22.97 long entry.  Overbought levels are 26.25.

A close below the LML at 22.42 would resume the downtrend.  Oversold levels remain 21.62.

 

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper moves up off the oversold levels.  Gold breaks down looking for the 1992 oversold level.  Silver breaks out to the upside.

The Crude testing resistance.  Natural gas remains in the downtrend, now needs 1.65 to get long.

The US 30yr Treasury Bond still down with the 10yr yields rising.

The US Dollar futures in the upward channel, but overbought.

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S&P 500 Futures   #ESH24

Monthly – February continues more new highs. Trade pressures are up just out of the neutral zone. Volumes closed the month of January as bullish.  The next target up is 5173.  A close below 4755 would confirm any weekly move lower.

Weekly – The weekly closes below the prior week high.  Trade pressures remain up.  Volumes are bullish.  The next target up is 5390.  A close below 4933 would confirm any daily move lower.

Daily – Flat, Now showing lower highs.  Trade pressures are down but rising.  Volumes remain bullish.  The next target up is 5079.  The overbought level rises to 5064; still below the next target up. Again, expect consolidation and retracement.  A close below 4988 would signal lower. The expected oversold level rises to 4915.

___________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is marked to the market and is restarted at $100,000 for the 2023 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024 closed much higher, with the February move in Super Micro up from 600 to a high of 1070 closing at 815, at approximately $123,000. The Year-to-Date portfolio performance closed up 23%.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXH24

Weekly –  Remains in the new December downtrend, but testing resistance.  Trade pressures are up. Volumes remain bullish.

Daily – Flat.  At the 104.41 upside target.  Trade pressures are now down into the neutral zone.  Volumes are neutral.

In a small bull flag The next target up is 105.37.  104.95 is the over-bot level.

A close below 103.58 would signal lower.  The expected oversold levels are 103.60; so likely consolidation at this level.

 

US30YR T-BOND_ USH24

Weekly – In the new December 2023 uptrend but at support.  Trade pressures remain down.  Volumes are bearish.

Daily  – Flat. In the move down off the failed test of the 12/27 high.  Trade pressures are down but rising. Volumes remain bearish.

The next target down is 116-07.  Oversold levels remain 115-09.

A close above 119-25 would resume the move higher.  The next target up is 122-24.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH24

Weekly – Still in the December 2023 downtrend. Trade pressures are up. Volumes remain bullish.

Daily – Flat. Profit stop met at 78.72.  Trade pressures are up.  Volumes are bullish.

The next target up is the horizontal trend line at 78.50.  The expected over-bot level is 79.52.

A close below 74.71 would signal higher.  The expected oversold levels are 72.31.

 

NAT GAS_ NGH24

Weekly – In the new February 2024 downtrend.  Trade pressures are down.  Volumes remain bearish.

Daily – Flat. in the second leg of the downtrend from 2.08 on 2/6.  Trade pressures are down.  Volumes remain bearish.

The next target down is the 1.36 downside target.  The expected oversold level would be 1.47.

A close above  1.64 would signal higher.   The expected overbought level is 1.93.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – Remains in the December 2023 uptrend. Trade pressures are in the neutral zone.. Volumes are bullish.

Daily – Long. In the move up from 3.73 on 2/15.  Trade pressures are up.  Volumes are bullish.

The next target up is 3.86.  The expected overbought levels are 3.81.

A close below 3.78 would signal higher. The expected oversold levels are 3.64.

Use 3.78 as the SL.

[2-20-24: Set the profit stop at 3.88.] [2-21-24: Stopped out for a gain.]

 

GOLD_ GCJ24

Weekly – In the December 2023 uptrend.  Trade pressures are in the neutral zone.  Volumes remain bearish.

Daily – Flat. back in and down at the bottom band of the channel.  Trade pressures are down but rising.  Volumes are now neutral.

The next target up is 2073. The expected overbought level is 2063.

Lower. The next target down is 1952.  The expected oversold level is 1992.

[2-13-24: Inflation surprises to the upside. 10yr yields up, Dollar up, Gold down.]

US dollar consolidating.

 

SILVER_ SIH24

Weekly – In the December uptrend, but down near support.  Trade pressures are down but rising into the neutral zone.  Volumes are bullish.

Daily – Long. Breaks above the Dec trend line and is now in the move up from 23.25 on 2/16.  Trade pressures are up.  Volumes are now bullish.

The next target up is the 24.54 long entry.  Overbought levels are 26.25.

A close below the LML at 22.30 would resume the downtrend.  Oversold levels remain 21.62.

Use 22.79 as the SL.

[2-21-24: Stopped out at the SL for a loss.]

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper near oversold.  Gold in new sideways channel, looking for the 2014 oversold level.  Silver pulls back to retest the breakout.

The Crude now long as GDP looks positive.  Natural gas remains in the downtrend, now needs 1.90 to get long.

The US 30yr Treasury Bond selling off with the 10yr yields rising.

The US Dollar futures in the move up, but overbought.

_________________

S&P 500 Futures   #ESH24

Monthly – February continues the new highs. Trade pressures remain in the neutral zone. Volumes closed the month of January as bullish.  The next target up is 5173.  A close below 4737 would confirm any weekly move lower.

Weekly – The weekly rallies above the prior week highs once again.  Trade pressures remain up.  Volumes are bullish.  The next target up is 5390.  A close below 4915 would confirm any daily move lower.

Daily – Flat, In the new move up after the close above 4926 into new highs.  Trade pressures are up.  Volumes remain bullish.  The next target up is 5079.  The overbought level rises to 5018; still below the next target up. So, expect consolidation and retracement.  A close below 5026 would signal lower. The expected oversold level rises to 4850.

[2-13-24: Short at 5020.  Set SL at 5040.  TP at 4918.]

[2-14-24: Lower SL to the breakeven, 5020.] [2-14-24: Stopped out at the Close.]

___________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is marked to the market and is restarted at $100,000 for the 2023 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024 closed much higher, with the move in the AI related stocks, at approximately $119,000. The Year-to-Date portfolio performance closed up 19%.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXH24

Weekly –  Remains in the new December downtrend, but testing resistance.  Trade pressures are up. Volumes remain bullish.

Daily – Flat.  Continues with a second leg up from 102.36 on 1/16.  Trade pressures are now up.  Volumes are bullish.

In a small bull flag The next target up is 104-31.  104.71 is the over-bot level.

A close below 103.17 would signal lower.  The expected oversold levels are 103.13.

 

US30YR T-BOND_ USH24

Weekly – In the new December 2023 uptrend.  Trade pressures remain are down.  Volumes are bearish.

Daily  – Flat. No follow thru of the breakout; near the oversold levels. Watch the 10yr yields.  Trade pressures are down. Volumes are bearish.

The next target down is 118-31 and would be a new short entry.  Oversold levels remain 115-09.

A close above 120-30 would resume the move higher.  The next target up is 122-28.

[2-13-24: Short at 118-31. Set the SL at 119-23. TP at 117-26.]

[2-14-24: Profit stop met in the first hour.]

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH24

Weekly – Still in the December 2023 downtrend. Trade pressures are up. Volumes are now bullish.

Daily – Long. The break out on 2/8 at 73.62.  Trade pressures are now up.  Volumes are bullish.

The next target up is the 120ML at 78.93.  The expected over-bot level is 75.83.

A close below 71.93 would signal higher.  The expected oversold levels are 70.60.

[2-8-24: Take profits at 78.72. Raise SL to 74.79.]

[2-13-24: Raise SL to 76.68.]

[2-14-24: Profit stop met in the first hour.]

 

NAT GAS_ NGH24

Weekly – In the new February 2024 downtrend.  Trade pressures are down.  Volumes remain bearish.

Daily – Flat. in the downtrend from 2.60 on 1/16.  Trade pressures are down.  Volumes remain bearish.

The next target down is a break below 2.03 to the 1.74 downside target.  The expected oversold level would be 1.90.

A close above  1.90 would signal higher.   The expected overbought level is 2.25.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – Remains in the December 2023 uptrend. Trade pressures are up but declining. Volumes remain bearish.

Daily – Flat. now in a downward channel.  Trade pressures are down.  Volumes remain bearish.

The next target down is 3.64.  The expected oversold levels are 3.68.

A close above 3.73 would signal higher. The expected overbought levels are 3.90.

 

GOLD_ GCJ24

Weekly – In the December 2023 uptrend.  Trade pressures are in the neutral zone.  Volumes remain bearish.

Daily – Flat. Out of the downward channel and backtesting the breakout.  Trade pressures are down.  Volumes remain bearish.

the next target up is 2079. The expected overbought level is 2082.

A failure at below 2029 would signal lower.  The expected oversold level is 2014.

US dollar remains in an uptrend but facing resistance.

[2-13-24: Inflation surprises to the upside. 10yr yields up, Dollar up, Gold down.]

 

SILVER_ SIH24

Weekly – In the December uptrend, but down near support.  Trade pressures are down but rising toward the neutral zone.  Volumes remain bearish.

Daily – Flat. has traded above the Dec trend line and is now back testing.  Trade pressures are down.  Volumes are now bearish.

The next target up is the 23.71 long entry.  Overbought levels are 26.34.

A close below the LML at 22.32 would resume the downtrend.  Oversold levels are 21.62.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper long is stopped out.  Gold breaks out of channel, now retesting.  Silver pulls back to retest the breakout.

The Crude long entry fails at 78..  Natural gas remains in the downtrend, needs 2.10 to get long.

The US 30yr Treasury Bond breaks out then pulls back.  10yr rates rise again.

The US Dollar futures breaks out of consolidation as international money flows come this way.

_________________

S&P 500 Futures   #ESH24

Monthly – February continues the new highs. Trade pressures remain in the neutral zone. Volumes closed the month of January as bullish.  The next target up is 5173.  A close below 4687 would confirm any weekly move lower.

Weekly – The weekly rallies above the prior week highs again.  Trade pressures remain up.  Volumes are bullish.  The next target up is 5390.  A close below 4865 would confirm any daily move lower.

Daily – Flat, In the new move up after the close above 4926 into new highs.  Trade pressures are down but rising.  Volumes remain bullish.  The next target up is 5079.  The overbought level rises to 4950; still below the next target up. So, expect consolidation and retracement.  A close below 4936 would signal lower. The expected oversold level rises to 4801.

___________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins each year at $100,000. The Top 5 Growth stocks are tracked throughout each year. This portfolio is marked to the market and is restarted at $100,000 for the 2023 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024 closed higher at approximately $109,000. The Year-to-Date portfolio performance closed up 9%.

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