Author: ChasW

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM23

Weekly – In the September 2022 downtrend. Trade pressures are now down into the neutral zone. Volumes remain bearish.

Daily –Flat. The close below 76.01 triggered a new short entry on 3/13. Trade pressures are down. Volumes are now neutral.

At the 64.87 downside target. The oversold level is now 66.06. Looking for retracement up.

A close above 69.00 would signal higher. The expected oversold level is 74.25.

 

NAT GAS_ NGN23

Weekly – In the December 2022 downtrend. Trade pressures are down but rising. Volumes are now bearish.

Daily – Flat. In the  move down after the impulse off the 2.66 lows. Trade pressures are down. Volumes are now bearish.

A close above 2.90 would signal higher. The next target up is 3.25. Overbought is at 2.94.

Downside support is still at 2.81. The expected oversold level is 2.25.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGK23

Weekly – In the November 2022 uptrend. Trade pressures are down. Volumes are bearish.

Daily – Flat. At the 3.84 downside target. Trade pressures are down but rising. Volumes remain bearish.

The next target down is the 200DMA at 3.75. Oversold is expected at 3.79.

A close above 3.90 would signal higher.  Overbought levels will be near 4.03.

[3/19/23: Long at 3.92. SL at 3.87] [3/20/23: Stopped out in the overnight markets with a loss.]

 

GOLD_ GCJ23

Weekly – In the December 2022 uptrend. Trade pressures are up into the neutral zone.. Volumes are remain bullish.

Daily – Flat, the run continues higher. Trade pressures are up. Volumes are bullish..

The next target up is 2001and is above the overbought levels at 1963.

A close below 1954 would signal lower.

Oversold target is 1843.

 

SILVER_ SIK23

Weekly – In the new February 2023 downtrend. Trade pressures are rising to the neutral zone. Volumes are now bullish.

Daily – Long. A new long entry has been triggered at 21.75. Trade pressures are up. Volumes are now bullish.

The next target up is 23.54. Overbought level 23.30.

A close below 22.40 would signal lower. The expected oversold level is 19.70.

At resistance now, wait for a pull back and the bullish reversal on the trade pressures to re-enter.

 

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is looking lower.  Gold is near the overbought levels. Silver is a new counter-trend long entry.

The Crude oil rally has failed and back near the entry. Natural gas July contract long was stopped out at a gain.

The US 30yr Treasury Bond June contract remains a long.

The US Dollar futures are retracing after the resistance at the 200 day MA.

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S&P 500 Futures

Monthly – Now below the February lows. Trade pressures are rising but still in the neutral zone. Volumes closed the month of February as neutral. The next target down is 3008. A close above 4169 would confirm any weekly move higher.

Weekly – The weekly has reversed to a short after closing below 3997. Trade pressures are down into the neutral zone. Volumes are now bearish. The next target down remains 3787. A close above 4040 would confirm any daily move higher.

Daily – Short. The long trade was stopped out at a breakeven and the close below 4012 signaled a new short entry. Trade pressures have moved to down. Volumes are now bearish. The next target down is 3817.  3891 is the new oversold level. A close back above 3950 would signal higher. 4034 would be the new overbought level. Set the 3950 new long signal as the SL. [3/12/23 Sunday nite stopped out at 3950.]

___________________

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.

This week’s market ended with a break below the 4000 level. Values move lower to approximately $102,000. The Year-to-Date portfolio performance is now 2%.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXM23

Weekly –  In the November 2022 downtrend. Trade pressures are now up. Volumes are now bearish.

Daily – Long. In the move up from the 102.76 long entry on 2/3. Trade pressures are down. Volumes are now bearish.

The next target up is 107.11. Overbought is now 105.91.

The move up was stopped by the 200 day MA at 105.87. A close below 102.43 would signal lower (SL). Oversold is expected at 104.12.

 

US30YR T-BOND_ USM23

Weekly – In the October 2021 downtrend. Trade pressures are now up into the neutral zone. Volumes are now bullish.

Daily  – Long. The move down was reversed with a move up thru 123-30 and then the 126-18 long entry. Trade pressures are up. Volumes are now bullish.

The next target up is 130-14. overbought is at 133-18. [The next target up is now the 132-09 upside target and the overbought area. TP here.]

The close below 126-25 would signal lower. Use this as the SL.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM23

Weekly – In the September 2022 downtrend. Trade pressures are now up. Volumes are now bearish.

Daily –Flat. The close below 76.01 triggered a new short entry on 3/13. Trade pressures are down. Volumes are now bearish.

The next target down is 73.66. The oversold level is 74.70.

A close above 73.99 would signal higher. The next target up is 75.87. The expected oversold level is 79.42.

[3-13-23: The spike down in the overnight and the ensuing retracement were not traded. looking for a rally to short around the overbought levels.]

 

NAT GAS_ NGN23

Weekly – In the December 2022 downtrend. Trade pressures are down but rising. Volumes are now neutral.

Daily – Flat. stopped out at the 3.36 SL. Trade pressures are down. Volumes are now bearish.

The next target up is 3.62. Overbought is at 3.03 and is near the current price.

downside support is at 2.81. The expected oversold level is 2.31.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGK23

Weekly – In the November 2022 uptrend. Trade pressures are now down. Volumes are now bearish.

Daily – Flat. In the move down from the 4.10 on Mar 2nd. Trade pressures are up into the neutral zone. Volumes remain bearish.

Still below the 4.12 25×5 MA resistance. The next target down is 4.02. Oversold is expected at 3.91. Take profits at the 3.94 level.

A close above 4.09 would signal higher.  Overbought levels will be near 4.15. Set the 4.07 as the SL.

 

GOLD_ GCJ23

Weekly – In the December 2022 uptrend. Trade pressures are down after breaking support. Volumes are now bullish.

Daily – Long, The 3/8 break down to 1813 allowed for a new long entry. Trade pressures are up. Volumes are bullish..

Near the 1869 overbought levels. Take profits here.
[3/12/23: 1869 profit stop hit.]

A close below 1875 would signal lower. Set the SL here.

Oversold target is 1809.

[3-13-23: Near new 1899 overbought levels. A close below 1906 would trigger a new short trade. Use the 1919 high as the SL, if entered. Oversold target is 1812.]

[3-14-23: Short GCJ23 @ 1906. SL at1919. TP @ 1868]

[3-15-23: After an overnight low of 1889, stopped out with a loss at 1919.]

 

SILVER_ SIK23

Weekly – In the new February 2023 downtrend. Trade pressures are below the uptrend support level. Volumes remain bearish.

Daily – Long. The trend resistance at 20.33 was breeched. Trade pressures are down but rising toward the neutral zone.. Volumes are now neutral.

The break below the support line from the September lows has moved down to test the oversold levels at the mid 19’s. The expected price target is now 21.64 which will be the new longer term entry.

This is a counter-trend trade, so keep stops close at 19.92. Move to BE asap. [3/12/23 move stop to the 20.33 BE.]

[3-13-23 Raise stops to 21.56.]

[3-14-23: Stopped out at 21.56.]

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is trending in a sideways channel.  Gold has rallied off the oversold levels. Silver is holding the 20 support level.

Crude oil has rallied of the 76.00 long entry. Natural gas July contract long at 2.90 on 2/24.

The US 30yr Treasury Bond June contract is now a long.

The US Dollar futures continue moving up, but in a tight range. 105.54 is the overbought level and is also the 200 day MA.

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S&P 500 Futures

Monthly – Now off the December highs. Trade pressures are rising but still in the neutral zone. Volumes closed the month of February as neutral following a neutral January. The next target down is 3008. A close above 4169 would confirm any weekly move higher.

Weekly – The weekly has reversed to a short after closing below 3997. Trade pressures are up but rolling over. Volumes are now neutral. The next target down is 3787. A close above 4084 would confirm any daily move higher.

Daily – Long. The close above 4106 triggered the new long entry on Friday. Trade pressures have moved from down to up. Volumes are now bullish. The next target up is 4128. 4060 is the overbought level: so SL at the entry. A close below 4012 would signal lower.  3913 is an expected oversold 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 2023 year.

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

This week’s market ended with a successful close above the 4000 level. The recent changes to the portfolio helped values move higher to approximately $104,000. The Year-to-Date portfolio performance is now 4%.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXM23

Weekly –  In the November 2022 downtrend. Trade pressures are now up. Volumes are bullish.

Daily – Long. In the move up from the 102.76 long entry on 2/3. Trade pressures are down into the neutral zone. Volumes remain bullish.

The next target up is 107.11. Overbought is now 105.54.

A close below 104.04 would signal lower. Oversold is expected at 103.51.

 

US30YR T-BOND_ USM23

Weekly – In the October 2021 downtrend. Trade pressures are down. Volumes remain bearish.

Daily  – Flat. The move down has broken the support levels and triggered a short trade at 127-23 on 2/10. Trade pressures are down, but rising. Volumes are now bearish to neutral.

Reached the low of 122-24 and starting a retracement up.

The close above 123-21 has signaled higher. Any long trade is counter to the weekly so, tight stops.

 

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM23

Weekly – In the September 2022 downtrend. Trade pressures are now up. Volumes are now neutral.

Daily –Flat. The close above 76.88 triggered a new long entry on 3/1. Trade pressures are up.. Volumes are now bullish.

The next target up is 81.89. The overbought level is 78.83.

A close below 75.78 would signal lower. The expected oversold level is then 73.67.

 

NAT GAS_ NGN23

Weekly – In the December 2022 downtrend. Trade pressures are down but rising. Volumes are now bullish.

Daily – Long. Now in a retracement up from the 2.90 long entry on 2/23. Trade pressures are up. Volumes are now bullish.

The next target up is 3.62. Overbought is at 2.99 and is below the current price.

A close below 3.36 would signal lower. Use the 3.36 level as the SL. The expected oversold level is 2.05.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGK23

Weekly – In the November 2022 uptrend. Trade pressures are still neutral. Volumes are now bullish.

Daily – Flat. In the move down from the 4.10 on Mar 2nd. Trade pressures are down. Volumes are now bearish.

Still below the 4.12 25×5 MA resistance. The next target down is 4.02. Oversold is expected at 3.94.

A close above 4.09 would signal higher.  Overbought levels will be near 4.27.

 

GOLD_ GCJ23

Weekly – In the December 2022 uptrend. Trade pressures are down after breaking support. Volumes remain bearish.

Daily – Flat, The break above 1833 signaled higher. Trade pressures are up. Volumes are bullish..

looking for a pullback and a change in the weekly pressures to enter long. The next target up is 1887. Overbought levels are 1879.

A close below 1846 would signal lower. Oversold target is 1816.

 

SILVER_ SIK23

Weekly – In the new February 2023 downtrend. Trade pressures have broken the uptrend support level. Volumes remain bearish.

Daily – Flat. The two hour chart is basing. Trade pressures are rising to the neutral zone.. Volumes are now bullish.

Now at the support line from the September lows. A break below will test the mid 19’s.

The close above 21.35 has signaled higher. The expected price target is now 22.30 which will be the new long entry.