Author: ChasW

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

The 10yr yields hold at 4.07%. Copper finds support at the 200 day MA.  Gold rallies out of a bull flag. Silver rallies off the Median line support at 30.50.

Crude short almost complete.  Natural Gas continues move down. Texas opens new NG pipeline to Gulf..

The US 30yr Treasury Bond lower still; the 10yr yields holding in the 4’s.

The US Dollar breaks above the 200 day MA; near overbought.

_________________

S&P 500 Futures   #ESZ24

Monthly –Monthly bar still higher. Trade pressures remain up. Volumes closed the month of September as bullish.  The next target up remains at 6019.  A break below 5607 would confirm any weekly move lower. The next target down then would be 5260.

Weekly – The weekly has a higher close again.  Trade pressures are just above the neutral zone. Volumes remain low, but bullish.  The next target up is 6057 (new highs).  A close below 5782 would confirm any daily move lower.

Daily – Long. After a small retracement, price breaks out of the bull flag at 5794 at the week’s close (10/9).  Trade pressures remain up but have declined to near the neutral zone.  Volumes are bullish.

The next target up remains 5876. The expected overbought level rises to 5894.

A close below 5776 would signal lower. The expected oversold level rises to 5725.

Beware of the chop going into the Election.

[10-18-24: Raise the SL to 5876]

___________________

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 2024 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.  The portfolio value holds at $144,000. The Year-to-Date portfolio performance is  up 44%.

[The author may be long or short any of these issues mentioned],

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ24

Weekly –  In the new August 2024 downtrend but pressing the resistance line.  Trade pressures are up. Volumes are bullish.

Daily – Long. Big rally off the low pivot at 99.86 and thru the long entry at 100.51. Trade pressures are up.  Volumes are bullish.

The next target up is 103.89.  The expected overbought level rises to 103.90.

The break below the 102.29 signals lower. The expected oversold levels rises to 102.01.

 

US30YR T-BOND_ USZ24

Weekly – In a new August 2024 uptrend.  Trade pressures remain down.  Volumes remain bearish.

Daily  – Flat. In the  move down from 126-16 on 9/18. Trade pressures are down.  Volumes are bearish.

At the downside target of 119-27. Oversold levels 120-09.

A close above 120-14 would signal higher and would be confirmed at 122-12. Overbought levels are 122-16.

[The 10yr yield overbought level declines to 4.07%. But inflation expectations still rise.]

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLX24

Weekly – In the September 2024 downtrend, rising to resistance. Trade pressures decline to the neutral zone. Volumes are now neutral.

Daily – Short. In the move down from 73.71 on 10/14; which was stopped out at 68.50 on 10/18.  Trade pressures are down.  Volumes are bearish.

Near the 67.58 downside target. The expected oversold level declines to 68.71.

A close above 70.52 would signal higher. The expected overbought levels decline to 78.31.

 

NAT GAS_ NGX24

Weekly – In the August 2024 downtrend. Trade pressures are down.  Volumes are bearish.

Daily – Short.  In the move down from the upside resistance at 3.01 (the 200 day MA). A short was triggered at 2.66. Trade pressures are down.  Volumes remain bearish.

the next target down is 2.13. The expected oversold level declines to 2.25.

A close above 2.35 is needed to start a new uptrend. The expected overbought level declines to 2.67.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGZ24

Weekly – In the September 2024 uptrend. Trade pressures are down into the neutral zone. Volumes remain bullish.

Daily – Flat. Touched the 4.29 support and long trigger from 4.33.  Trade pressures are up into the neutral zone.  Volumes remain bearish.

Waiting for a long entry on a back-test of the 4.29. The next target up is 4.46. The expected overbought levels have declined to 4.63.

A close below 4.28 would signal lower. The expected oversold levels decline to 4.24.

 

GOLD_ GCZ24

Weekly – In the December 2023 uptrend.  Trade pressures remain up.  Volumes remain bullish.

Daily – Long. Breakout of the small bull flag on 10/11 at 2669. Trade pressures are up.  Volumes are bullish.

The next target up is 2787. The expected overbought level are 2726.

A close below 2680 would signal lower. The expected oversold level rises to 2645.

 

SILVER_ SIZ24

Weekly – Still in the December 2023 uptrend.  Trade pressures remain up but declining.  Volumes remain bullish.

Daily – Flat. In a new uptrend. Trade pressures are up.  Volumes are bearish.

No trade. The next target up is 33.78. Overbought levels are 33.69.

A close below 32.14 would signal lower.  Oversold levels are 29.99.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

The 10yr yields rise to 4.07%. Copper looking for support.  Gold breaks out of a bull flag. Silver looking for new long around the 31 area.

Crude pulls back after the rally..  Natural Gas declining after meeting the 200 day MA resistance.

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

The US Dollar in consolidation at the 200 day MA..

_________________

S&P 500 Futures   #ESZ24

Monthly –Monthly bar higher. Trade pressures remain up. Volumes closed the month of September as bullish.  The next target up remains at 6019.  A break below 5555 would confirm any weekly move lower. The next target down then would be 5206.

Weekly – The weekly has a higher close again.  Trade pressures remain in the neutral zone. Volumes remain just barely bullish.  The next target up remains 5890 (new highs).  A close below 5689 would confirm any daily move lower.

Daily – Long. After a small retracement, price breaks out of the bull flag at 5794 at the week’s close (10/9).  Trade pressures remain up but have declined to near the neutral zone.  Volumes are bullish.

The next target up remains 5876. The expected overbought level has declined to 5679.

A close below 5714 would signal lower. The expected oversold level rises to 5817.

Beware of the chop going into the Election.

[10-18-24: Raise the SL to 5876]

___________________

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 2024 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.  The portfolio value rises to $144,000. The Year-to-Date portfolio performance is now up 44%.

[The author may be long or short any of these issues mentioned],

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ24

Weekly –  In the new August 2024 downtrend.  Trade pressures are up. Volumes are neutral.

Daily – Long. Big rally off the low pivot at 99.86 and thru the long entry at 100.51. Trade pressures are up.  Volumes are bullish.

The next target up is 103.13.  The expected overbought level rises to 103.42.

The break below the 101.60 signals lower. The expected oversold levels rises to 100.40.

 

US30YR T-BOND_ USZ24

Weekly – In a new August 2024 uptrend.  Trade pressures are down.  Volumes are bearish.

Daily  – Short. In the  move down from 126-16 on 9/18. Trade pressures are down.  Volumes are bearish.

The next target down is 119-27. Oversold levels 120-09.

A close above 120-26 would signal higher. Overbought levels are 122-18.

[The 10yr yield is near its overbought level of 4.19%.]

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLX24

Weekly – In the September 2024 downtrend, rising to resistance. Trade pressures remain up. Volumes remain bullish.

Daily – Flat. In the move up off support at the 200 day MA at 73.34.  Trade pressures are up.  Volumes are bullish.

The next target up is 77.08 which is resistance. The expected overbought levels are higher at 78.75.

A close below 73.34 would signal lower. The expected oversold level rise to 71.09.

[10-13-24: Short after the break below the 200 day MA at 73.34. 10-14-24: Set the SL at 73.34. Take profit at 68.15.]

[10-17-24: Lower SL to 71.29]

[10-18-24: Lower SL to 70.70.]
[10-18-24: raise profit stop to 68.50, which should execute immediately.]

 

 

NAT GAS_ NGX24

Weekly – In the August 2024 downtrend, but near a break out.  Trade pressures are down.  Volumes are neutral.

Daily – Flat.  In the move down after meeting the upside resistance at 3.01 (the 200 day MA). Trade pressures are down.  Volumes are bearish.

The close below 2.66 signals lower, but with the oversold nearby; wait. The expected oversold level declines to 2.59.

The next target up is 2.71, needed to start a new uptrend. The expected overbought level declines to 3.04.

 

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGZ24

Weekly – In the September 2024 uptrend. Trade pressures are up. Volumes are now bullish.

Daily – Flat. In the move up from  the 4.41 low pivot on 10/9.  Trade pressures are up into the neutral zone.  Volumes are bearish.

The next target up is 4.54. The expected overbought levels have declined to 4.71.

A close below 4.28 would signal lower. Expect consolidation and retracement. The expected oversold levels remain at 4.35.

Look for a long entry above 4.50, or a touch of the 200 day MA at 4.29.

 

GOLD_ GCZ24

Weekly – In the December 2023 uptrend.  Trade pressures remain up.  Volumes remain bullish.

Daily – Flat. successful short reverses to long on 10/10. Trade pressures are up.  Volumes are bullish.

The close above 2669 signals higher. The expected overbought level are 2695.

A close below 2626 would signal lower. The expected oversold level decline to 2608.

 

SILVER_ SIZ24

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

Daily – Flat. The short was covered at 31.29 and now in a new uptrend. Trade pressures are up.  Volumes are bearish.

No trade. The next target up is 32.18. Overbought levels are 32.51.

A close below 31.25 would signal lower.  Oversold levels are 30.75.

 

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

The 10yr yields rise to 3.98%. Copper in consolidation.  Gold and Silver also in consolidation after the move up.

Crude rallies hard on the middle east worries.  Natural Gas holding at 200 day MA resistance.

The US 30yr Treasury Bond down hard on the 10yr yields rising.

The US Dollar futures reversed higher after the Iranian involvement.

_________________

S&P 500 Futures   #ESZ24

Monthly –Monthly bar just off the prior month high. Trade pressures remain up. Volumes closed the month of September as bullish.  The next target up remains at 6019.  A break below 5488 would confirm any weekly move lower. The next target down then would be 5164.

Weekly – The weekly closes higher again.  Trade pressures remain in the neutral zone. Volumes remain bullish.  The next target up remains 5890 (new highs).  A close below 5689 would confirm any daily move lower.

Daily – Long. After a small retracement, price is testing a breakout of the bull flag at 5794 at the week’s close.  Trade pressures are up but have declined to near the neutral zone.  Volumes are bearish.

The next target up remains 5876. The expected overbought level has declined to 5765.

A close below  5714 would signal lower. The expected oversold level rises to 5655.

[10-7-24: Stopped out at the 5739 level.]

___________________

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 2024 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.  The portfolio value rises to $143,000. The Year-to-Date portfolio performance is now up 43%.

[The author may be long or short any of these issues mentioned],

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ24

Weekly –  In the new August 2024 downtrend.  Trade pressures are up into the neutral zone. Volumes are bullish.

Daily – Long. Big rally off the low pivot at 99.86 and thru the long entry at 100.51. Trade pressures are up.  Volumes are bullish.

The next target up is 102.58.  The expected overbought level rises to 102.29.

The break below the 101.63 signals lower. The expected oversold levels declines to 99.65.

 

US30YR T-BOND_ USZ24

Weekly – In a new August 2024 uptrend.  Trade pressures are down.  Volumes are bearish.

Daily  – Short. In the  move down from 126-16 on 9/18. Trade pressures are down.  Volumes are bearish.

The next target down is 119-27. Oversold levels 120-21.

A close above 123-02 would signal higher. Overbought levels are 127-00.

The 10yr yield is near its overbought level just below 4%.
Set tight stops on this short at 122-10. Set a profit stop at 120-20.

[10-08-24: Take profits at 120-29.]