Author: ChasW

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXU23

Weekly –  In the November 2022 downtrend and still testing the upside resistance. Trade pressures are up. Volumes are now bullish.

Daily – Long. In the move up from the long signal at 100.26 on 7/27.  Trade pressures are up. Volumes are now bullish.

The next target up remains 103.41. The expected overbought levels are 103.85.

A close below 103.10 would signal lower. The expected oversold levels are now 102.16.

 

US30YR T-BOND_ USU23

Weekly – In the October 2021 downtrend and moving away from upside resistance. Trade pressures are down. Volumes remain bearish.

Daily  – Flat. Waterfall lows. Trade pressures are down. Volumes remain bearish.

The next target down is 117-10. Expected oversold levels are 117-30.

A close above 119-29 would signal higher.  Expected overbought levels are 121-26.

[Basing here, watch the ten year yield to turn down]

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLU23

Weekly – In a new August 2023 uptrend. Trade pressures are up. Volumes remain bullish.

Daily – Short. In the new move down from the 79.81 short entry on 8-18. Trade pressures are down, but rising. Volumes are neutral.

The next target down is 74.45.  The expected oversold levels are now 78.41.

A close above 81.04 would signal higher. The next overbought level is 85.18.

 

NAT GAS_ NGU23

Weekly – In the December 2022 downtrend; holding at long term support. Trade pressures are down again. Volumes are back to bearish.

Daily – Flat. In the move down from 2.90.  Trade pressures are down. Volumes are bearish.

The next target down is 2.41. The expected oversold level is 2.49.

A close above 2.64 would signal higher. The expected overbought level is 2.97.

[The average daily range is still higher than the distance to next target.
Still too much volatility; stops won’t work.  Stay Away.]

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGU23

Weekly – In the May 2023 downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Short. In the move down from 3.81.  Trade pressures are down but turning up. Volumes remain bearish.

The 3.61 target.  Oversold levels are now 3.60. The next target down is 3.51.

A close above 3.75 would signal higher. The expected overbought levels are now 3.83.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are down. Volumes are bearish.

Daily – Short. In the move down from the 1981 short signal on 8/2. Trade pressures are down. Volumes are bearish.

Thru the 1927 target. The next target down is 1903. The expected oversold levels are lower lows at 1891.

A close above 1927 would signal a trend change. The expected overbought levels are 1977.

 

SILVER_ SIU23

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

Daily – Short. In the move down from the 24.39 level on 8/2. Trade pressures are down. Volumes remain bearish.

The next target down is 22.32 at the trendline support.  Oversold levels are 20.65.

A close above 22.83 would signal higher. Overbought levels are expected at 23.39.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper’s near support.  Gold and Silver bounce from the 200 day MA failed, in a full downtrend but seeing support nearby.

The Crude continued the move to the upside, took profits at 84, looking toppy. Natural gas has sharp move up but gives most back.

The US 30yr Treasury Bond attempted a rally but now lower.

The US Dollar futures failed at the 103 resistance once and now attempting a breakout.

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S&P 500 Futures #ESU23

Monthly – The 4634 prior weekly close was resistance. Trade pressures remain up. Volumes closed the month of July as bullish. The next target up is 4961. A close below 4323 would confirm any weekly move lower.

Weekly – The weekly continues the move lower. Trade pressures are still up. Volumes is now neutral. The next target up is still 4558 . A close below 4437 is needed to confirm any daily move lower. There is trendline support at 4424.

Daily – Short. In the move down from the 4533 short signal on 8/3.  Trade pressures are down. Volumes are now bearish. The next target down is 4432. The expected oversold level is 4414 and support is at 4424. A close above 4504 would signal higher. The expected overbought level is 4522.

___________________

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.

Portfolio values closed down hard at approximately $109,000 with the $100 crash in Super Micro. The Year-to-Date portfolio performance is now up 9%.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXU23

Weekly –  In the November 2022 downtrend and testing the upside resistance. Trade pressures are now up. Volumes are now neutral.

Daily – Long. In the move up from the long signal at 100.26 on 7/27.  Trade pressures are up. Volumes are now bullish.

The next target up remains 103.41. The expected overbought levels are 102.87.

A close below 102.16 would signal lower. The expected oversold levels are now 100.51.

 

US30YR T-BOND_ USU23

Weekly – In the October 2021 downtrend and moving away from upside resistance. Trade pressures are down. Volumes remain bearish.

Daily  – Flat. Waterfall lows. Trade pressures are down into the neutral zone. Volumes are bearish.

The next target down is 118-31. Expected oversold levels are 118-28.

A close above 121-24 would signal higher.  Expected overbought levels are 124-02.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLU23

Weekly – In a new August 2023 uptrend. Trade pressures are up. Volumes are bullish.

Daily – Flat, Out with a PT at 84.88. Trade pressures are up, but showing divergence. Volumes remain bullish.

The next target up is 91.18.  The expected overbought levels are now 84.88.

A close below 79.81 would signal lower. The next oversold level is 79.26 (so no short, more of dip buy?).

 

NAT GAS_ NGU23

Weekly – In the December 2022 downtrend; holding at long term support. Trade pressures are down again. Volumes are back to bearish.

Daily – Flat. ran to 3.00, big move; then a pull back to 2.69.  Trade pressures are now down. Volumes are neutral once again.

The next target up is 2.82. The expected overbought level is also 2.82.

A close below 2.68 would signal lower. The expected oversold level is 2.49.

[The average daily range is still higher than the distance to next target.
Still too much volatility; stops won’t work.  Stay Away.]

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGU23

Weekly – In the May 2023 downtrend. Trade pressures are now down. Volumes are bearish.

Daily – Short. In the move down from 3.81.  Trade pressures are down but turning up. Volumes remain bearish.

The next target down is 3.61.  Oversold levels are now 3.66.

A close above 3.75 would signal higher. The expected overbought levels are now 3.90.

 

GOLD_ GCZ23

Weekly – In the December 2022 uptrend. Still testing the support levels. Trade pressures are back down into the neutral zone. Volumes remain neutral.

Daily – Short. In the move down from the 1981 short signal on 8/2. Trade pressures are down. Volumes are bearish.

The next target down is still 1927. The expected oversold levels are lower lows at 1915.

Look for support around 1927 and failing that then 1903. A close above 1952 would signal a trend change. The expected overbought levels are 2003.

 

SILVER_ SIU23

Weekly – In the April 2023 uptrend. Trade pressures are down. Volumes are now bearish.

Daily – Short. In the move down from the 24.39 level on 8/2. Trade pressures are down. Volumes remain bearish.

The next target down is 22.19 at the trendline support.  Oversold levels are 21.17.

A close above 22.84 would signal higher. Overbought levels are expected at 23.71..

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper’s long trade was stopped out.  Gold and Silver pulled back to the 200 day MA and bounced.

The Crude continues the move to the upside, support now at the 200 day MA. Natural gas rises with volatility.

The US 30yr Treasury Bond long fails once again, looks to test the October 2022 low.

The US Dollar futures failed at the 103 resistance.

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S&P 500 Futures #ESU23

Monthly – The 4634 prior weekly close was tested as resistance. Trade pressures remain up. Volumes closed the month of July as bullish. The next target up is 4961. A close below 4323 would confirm any weekly move lower.

Weekly – The weekly has moved down with Friday closing down sharply. Trade pressures are still up. Volumes remain turned bearish. The next target up is still 4558 . A close below 4323 is needed to confirm any daily move lower.

Daily – Short, from the 4533 short signal on 8/3.  Trade pressures are down. Volumes are now bearish. The next target down is 4432. The expected oversold level is 4491. A close above 4571 would signal higher. The expected overbought level is 4597.

___________________

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.

Portfolio values closed down 2% at approximately $117,000. The Year-to-Date portfolio performance is now up 17%.

 

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

US$$

USD_ DXU23

Weekly –  In the November 2022 downtrend and testing the upside resistance. Trade pressures are now up. Volumes are now neutral.

Daily – Long. In the move up from the long signal at 100.26 on 7/27.  Trade pressures are up declining. Volumes have turned bearish.

The next target up is 103.41. The expected overbought levels are 102.83.

A close below 101.65 would signal lower. The expected oversold levels are now 100.49.

 

US30YR T-BOND_ USU23

Weekly – In the October 2021 downtrend and moving away from upside resistance. Trade pressures are down. Volumes are now bearish.

Daily  – Flat. Waterfall lows. Trade pressures are down. Volumes are now bullish.

The next target down is 119-04. Expected oversold levels are 116-06.

A close above 124-09 would signal higher.  Expected overbought levels are 123-17.
So, no to the 124-09 new long signal.

Oil & Gas

CRUDE_ CLU23

Weekly – Remains in the July 2022 downtrend. Trade pressures are up. Volumes are bullish.

Daily – Long, from the trend change at 74.12 on 7/11. Trade pressures are up. Volumes remain bullish.

The next target up is 82.99.  The expected overbought levels are now 82.50. {Take profits here.]

A close below 78.32 would signal lower. The next oversold level is 76.80.

 

NAT GAS_ NGU23

Weekly – In the December 2022 downtrend; holding at long term support. Trade pressures are down again. Volumes are now bullish.

Daily – Flat. Another pullback to 2.46, then a new long at 2.43.  Trade pressures are up. Volumes are now neutral.

The next target up is 2.73. The expected overbought level is 2.82.

A close below 2.5 would signal lower. The expected oversold level is 2.48. (A lower low)

The average daily range is still higher than the distance to next target.
Still too much volatility; stops won’t work.  Stay Away.