Author: ChasW

US$$

#usdollarfutures #ustreasurybondfutures

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

Daily – Long. In the move up from the 102.17 long entry. Trade pressures are up. Volumes are now bullish.

The next target up is 103.68. Overbought is now 104.26.

A close below 102.97 would signal lower. Oversold is expected at 101.24.

 

US30YR T-BOND_ USH23

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

Daily  – Flat. The move down has broken the support levels. Trade pressures are down. Volumes are now bearish.

The next target down is the new short entry at 128-19.

A close above 127-30 would signal higher.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH23

Weekly – In the September 2022 downtrend. Trade pressures are now down. Volumes are now bullish.

Daily – Long . The close above 75.90 signaled higher. Trade pressures are up. Volumes are bullish.

The next target up is 81.77. The overbought level is now 80.35

A close below 77.73 would signal lower. The expected oversold level is then 73.01.

[2/13/23: Take profits at 80.35. Set SL at 76.52]

[2/16/23 Set SL at 77.49}

[2/17/23: SL sold at 77.49.]

 

NAT GAS_ NGH23

Weekly – In the October 2022 downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat. In the the second leg down from 6.80 on 11/30/22. Trade pressures are now up into the neutral zone. . Volumes are now neutral.

Below the 2.66 target. The oversold level is 2.26.

A close above 2.66 target would signal higher. Overbought is expected at 2.80.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGH23

Weekly – In the January 2023 uptrend. Trade pressures are now neutral. Volumes are now bearish.

Daily – Short. In the move down from the 4.22 short entry on Jan 19. Trade pressures have risen into the neutral zone. Volumes remain bearish.

At the 4.02 target. Oversold levels are at 3.94.

A close above 4.06 would signal higher. Overbought is expected at 4.31.

 

GOLD_ GCJ23

Weekly – In the January 2023 uptrend. Trade pressures are up but turning down. Volumes are now bearish.

Daily – Short, in the February 2nd short entry at 1946. Trade pressures are down. Volumes are now bearish.

The next target down is 1852. Oversold levels are 1859.

A close above 1887 would signal higher. Overbought target is 1968.

[2/13/23: Set SL at 1917.]

[2/16/23 set SL at 1854.]

 

SILVER_ SIH23

Weekly – In the December 2022 uptrend. Trade pressures are up but declining. Volumes are now bearish.

Daily – Short. The close below 22.88 signaled lower. Trade pressures are down. Volumes are bearish.

The next target down is 21.69. Oversold is at 21.22.

A close above 22.25 would signal higher. The expected price target is then 23.88.

[2/13/23: Set SL 22.40. Take profit at 21.22]

[2/16/23 Set SL at 21.81.]

[2/1//23: Profit stop hit at 21.22.]

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is now lower. Both gold and silver break lower.

Crude oil breaks support line. Natural gas remains near the downside targets and is over sold.

The US 30yr Treasury Bond is consolidating just below the 200 day MA.

The US Dollar futures are now moving up. 101.01 is the oversold level.

_________________

S&P 500 Futures

Monthly – Now above the close of the December month’s bar. Trade pressures are down but rising into the neutral zone. Volumes closed the month of January as neutral. The next target down remans the 3008 level. A close above the 4169 level would confirm any weekly move higher.

Weekly – In the weekly move up from the 3941 long entry. Trade pressures are up. Volumes are now bullish. The next target up is 4188. A close below 4089 would confirm any daily move lower.

Daily – Flat. Out of the move up at 4195 Feb 2nd. Trade pressures have moved from neutral to up. Volumes are now neutral. The next target up 4435. 4203 is the overbought level. Should expect at back-test of the broken downtrend line around 4025. A close below 4137 would signal lower. 3953 is the 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 an attempt to close above the 4200 level. The energy related portfolio value move down 5% to approximately $100,000. The Year-to-Date portfolio performance is now 0%.

 

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

US$$

#usdollarfutures #ustreasurybondfutures

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

Daily – long. In the move up form the 102.17 long entry. Trade pressures are up. Volumes are now bullish.

The next target up is 103.19. Overbought is now 104.86.

A close below 102.40 would signal lower. Oversold is expected at 101.01.

 

US30YR T-BOND_ USH23

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

Daily  – Flat. The move up is consolidating at the 200 day MA. Trade pressures are down. Volumes are now bearish.

The next target down is the short entry at 128-19.

A close above 132-13 would signal higher.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLH23

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

Daily – Short. The close below 80.76 signaled lower and retracement has begun. Trade pressures are down. Volumes are bearish.

The next target down is 71.11. The oversold level is now 75.13

A close above 75.90 would signal higher. The expected overbought level is then 81.12.

 

NAT GAS_ NGH23

Weekly – In the October 2022 downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat. In the the second leg down from 6.80 on 11/30/22. Trade pressures are down. Volumes are bearish.

Below the 2.66 target. The oversold level is 2.30.

A close above 2..48 would signal higher. Overbought is expected at 3.18.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGH23

Weekly – In the January 2023 uptrend. Trade pressures are up. Volumes are now berish..

Daily – Short. In the move down from the 4.22 short entry on Jan 19. Trade pressures are down. Volumes are bearish..

The next target down is 4.02. Oversold levels are at 4.08.

A close above 4.13 would signal higher. Overbought is at 4.34.

 

GOLD_ GCJ23

Weekly – In the January 2023 uptrend. Trade pressures are up but turning down. Volumes are now bearish.

Daily – Short., in the February 2nd short entry at 1946. Trade pressures are down. Volumes are now bearish.

The next target down is 1926. Oversold levels are 1895.

A close above 1909 would signal higher. Overbought target is 1951.

 

SILVER_ SIH23

Weekly – In the December 2022 uptrend. Trade pressures are up but declining. Volumes are now bearish.

Daily – Flat. The close below 22.88 signals lower. Trade pressures are down. Volumes are bearish.

The next target down is 22.21. Oversold is at 21.28.

A close above 23.13 would signal higher. The expected price target is then 25.14.

.

Navellier TOP 5 Stocks for February

The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.

https://navelliergrowth.investorplace.com/

High-Growth Investments

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) was a new addition to the High-Growth Investments Buy List in January. If you recall, the company is a leading supplier of frozen potatoes, sweet potatoes and vegetable products. When it comes to frozen potatoes, Lamb Weston is the top supplier in the United States and the second largest in the world.

In early January, Lamb Weston released results for its second quarter in fiscal year 2023: Sales rose 27% year-over-year to $1.28 billion, and adjusted earnings soared 171% year-over-year to $185.4 million, or $1.28 per share. The consensus estimate called for earnings of $0.74 per share on $1.15 billion in sales.

In the wake of the second-quarter earnings beat, analysts have increased third-quarter earnings estimates by 30.7% in the past month. As you know, positive analyst revisions typically precede future earnings surprises. LW is a Conservative buy below $105.

SOM Technicals:

1/28/23: Closed at 98.31. Trade pressures are up. Volumes are bullish. The next target up is 100.77, the prior high.

2-3-23: Closed at 98.12. Trade pressures are down but rising. Volumes are now neutral. The next target up is 100.77. Support is at 95.40.

2-18-23: Closed at 100.48. Trade pressures are up. Volumes are bullish. The next target up is 108.44.

 

Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) operates the biggest refining system in the U.S., with 13 refineries capable of refining about 2.9 million barrels per day. It also has a network of pipelines, terminals and barges. The company has experienced strong demand for its products recently, which should be apparent in next week’s earnings report.

Marathon Petroleum will announce fourth-quarter earnings and sales results on Tuesday, January 31, before the stock market opens. Fourth-quarter earnings are forecast to surge 336.2% year-over-year to $5.67 per share, up from $1.30 per share in the same quarter a year ago. Sales are expected to rise 4.2% year-over-year to $37.09 billion. MPC is a Conservative buy below $146.

SOM Technicals:

12-31-22: Closed at 116.39. Trade pressures are up. Volumes are bullish. In the move down. Need to clear 123 to become bullish.

1-7-23: Closed at 116.82. Trade pressures are up. Volumes are bearish. The next target is 109.26.

1-14-23: Closed at 121.93. Trade pressures are up. Volumes are bullish. The next target up is 131.52.

1-20-23: Closed at 125.72. Trade pressures are up. Volumes are bullish. The next target up is 134.52.

1-29-23: Closed at 133.25. Trade pressures are up. Volumes are now bearish. The next target down is 128.25.

2-3-23: Closed at 118.25. Trade pressures are down. Volumes are bearish. The next target down is 115.36.

2-11-23: Closed at 127.07. Trade pressures are up. Volumes are now bullish. The next target up is the 131 resistance.

2-18-23: Closed at 122.50. Trade pressures are down. Volumes are down. The next target down is 115.36

 

Occidental Petroleum Corporation

Occidental Petroleum Corporation (OXY) provides energy exploration and petrochemical manufacturing services, with energy and chemical assets around the world. The company also has operations in strategic energy-producing regions in the U.S., including the Permian Basin, Rocky Mountains and the Gulf of Mexico.

Occidental Petroleum is scheduled to release fourth-quarter results on February 27. The analyst community expects earnings of $1.85 per share and revenue of $8.7 billion, which translates to 25% year-over-year earnings growth and 8.6% year-over-year revenue growth. Estimates have fluctuated a bit over the past three months, but Occidental Petroleum has a positive earnings surprise history. OXY is a Moderately Aggressive buy below $77.

SOM Technicals:

8-27-22: Closed at 73.56. Trade pressures are up but turning down. Volumes are now neutral. The next target down is 71.86.

9-2-22: Closed at 68.77. Trade pressures are down but rising. Volumes are bearish. The next target down is 67.25.

9-9-22: Closed at 64.61. Trade pressures are down. Volumes are bearish. The next target down is 57.39.

9-16-22: Closed at 64.41. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 57.38.

9-23-22: Closed at 58.73. Trade pressures are down. Volumes are now neutral. The next target down is 57.39.

11-19-22: Closed at 71.25. Trade pressures are down. Volumes are bullish. The next target down is 66.26.

11-27-22: Closed at 70.28. Trade pressures are down. Volumes are neutral. The next target down is 66.26.

12-2-22: Closed at 68.21. Trade pressures are down. Volumes are bearish. The next target down is 63.94.

12-11-22: Closed at 62.60. Trade pressures are down. Volumes are bearish. The next target down is 56.41. 

12-16-22: Closed at 62.53. Trade pressures are down. Volumes are bearish. The next target  down is 56.41.

12-31-22: Closed at 63.04. Trade pressures are down but rising. Volumes are now neutral. The next target up is 65.28, which is a new long entry.

1-7-23: Closed at 63.75. Trade pressures are up. Volumes are bullish. The next target up is 64.37.

1-14-23: Closed at 65.20. Trade pressures are up. Volumes are bullish. The next target is the prior high pivot at 66.59.

1-20-23: Closed at 66.84. Trade pressure are up. Volumes are bullish. The next target up is 69.04.

1-29-23: Closed at 66.78. Trade pressures are up. Volumes are bullish. The next target up is 69.04.

2-3-23: Closed at 61.24. Trade pressures are down. Volumes are bearish. The next target down is 59.65.

2-11-23: Closed at 65.63. Trade pressures are up. Volumes are bullish. The next target up is 69.04.

2-18-23: Closed at 60.73. Trade pressures are down. Volumes are now neutral. The next target down is 55.38. a close above 61.74 would signal higher.

 

Quanta Services, Inc.

Quanta Services, Inc. (PWR) offers infrastructure solutions for electric power, wireless and fiber optic installation, underground utilities and pipelines. Simply put, Quanta Services provides “the infrastructure that powers your world,” and it has benefited from the shift to 5G.

Quanta Services is expected to post fourth-quarter results in late February. Fourth-quarter earnings are forecast to grow 3.9% year-over-year to $1.60 per share, up from $1.54 per share in the same quarter a year ago. Analysts have also increased earnings estimates over the past three months, which bodes well for another quarterly earnings surprise. Fourth-quarter revenue is expected to rise 9% year-over-year to $4.28 billion. PWR is a Conservative buy below $165.

SOM Technicals:

7-30-22: Closed at 138.73. Trade pressures are up. but showing divergence. Volumes are bearish. The  next target down is 133.65.

8-6-22: Closed at 136.91. Trade pressures are down but rising. Volumes are bullish. The next target up is 138.44.

8-12-22: Closed at 143.46. Trade pressures are up. Volumes are bullish. The next target up is 145.03.

8-21-22: Closed at 142.02. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 138.78.

1-29-23: Closed at 150.00. Trade pressures are up. Volumes are bullish. The next target up is 154.23.

2-3-23: Closed at 152.43. Trade pressures are up. Volumes are neutral. The next target up is 154.23.

2-11-23: Closed at 151.34. Trade pressures are down. Volumes are now bearish. The next target down is 148.46.

2-18-23: Closed at 154.90. Trade pressures are up. Volumes are up. The next target up is 158.55. A close below 153.45 would signal lower.

 

Valero Energy Corporation

Valero Energy Corporation (VLO) is the biggest independent petroleum refiner worldwide and a top producer of renewable fuels in North America. The company currently owns 15 petroleum refineries in the U.S., Canada and U.K., with the capacity to produce about 3.2 million barrels per day.

Valero announced spectacular fourth-quarter results on Thursday. Fourth-quarter adjusted earnings surged 223.9% year-over-year to $3.2 billion, or $8.45 per share, compared to $988 million, or $2.41 per share, in the same quarter a year ago. Analysts expected adjusted earnings of $7.37 per share, so Valero posted a 14.7% earnings surprise.

For full-year 2022, Valero achieved adjusted earnings of $11.6 billion, or $29.16 per share. That was up from $1.2 billion, or $2.81 per share, in 2021, and represented 866.7% annual earnings growth. These results also exceeded expectations for adjusted earnings of $28.01 per share. VLO is a Conservative buy below $160.

SOM Technicals:

11-19-22: Closed at 137.82. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 127.30.

11-27-22: Closed at 138.40. Trade pressures are up. Volumes are neutral. The next target down is 135.25, the new short entry.

12-2-22: Closed at 127.07. Trade pressures are down. Volumes are bearish. The next target down is 125.07.

12-11-22: Closed at 114.65. Trade pressures are down. Volumes are bearish. The next target down is 113.53.

12-16-22: Closed at 119.37. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 123.78

12-31-22: Closed at 128.66. Trade pressures are up. Volumes are bullish. The next target down is the 200 day MA at 116.74.

1-7-23: Closed at 127.56. Trade pressures are up. Volumes are bearish. The next target up is 136.69.

1-14-23: Closed at 136.25. Trade pressures are up.. Volumes are bullish. The next target up is 136.69.

1-20-23: Closed at 142.73. Trade pressures are up but declining. Volumes are bullish.. The next target up is 159.05.

1-29-23: Closed at 143.21. Trade pressures are up, but declining.  Volumes are now bearish. The next target up is 158.91.

2-3-23: Closed at 131.73. Trade pressures are down. Volumes are bearish. The next target down is 122.71.

2-11-23: Closed at 140.73. Trade pressures are up. Volumes are bullish. The next target up is the resistance at 145.66.

2-18-23: Closed at 129.61. Trade pressures are down. Volumes are now neutral. The next target down is 122.71. A close above 132.61 would signal higher.

 

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper consolidating. Gold is in retracement at 1931, after oversold levels are reached. Silver is still consolidating near a lower high.

Crude oil is in a second attempt to move higher but is in a new retracement. Natural gas remains near the downside targets and is over sold.

The US 30yr Treasury Bond is rejecting the attempt to short but is stalled below the 200 day MA.

The US Dollar futures are oversold and remain stalled at the 101.64 target. 101.61 is the oversold level.

_________________

S&P 500 Futures

Monthly – Inside the range of the December month’s bar. Trade pressures are down but rising into the neutral zone. Volumes closed the month of December as neutral. The next target down remans the 3008 level. A close above the 4169 level would confirm any weekly move higher.

Weekly – In the weekly move up from the 3941 long entry. Trade pressures are up. Volumes are now neutral on very low volumes. The next target up is 4112. A close below 3858 would confirm any daily move lower.

Daily – Long. In the move up from the 3941 long entry on Jan 10. Trade pressures have moved from neutral to up. Volumes are bullish. Price is above the January 2022 downtrend line. The next target up is 4112, then 4188. 4073 is the overbought level. Should expect at back-test of the broken downtrend line around 4025. A close below 3960 would signal lower. 3875 is the expected oversold level.

[2-1-23: Fed day. Raise SL to 4011.]

[2-2-23: Close the long trade at 4195.]

___________________

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 an attempt to close above the 2022 downtrend line. The portfolio value move up to approximately $105,000. The Year-to-Date portfolio performance is now up 5%.

On Monday at the open, Conoco (COP) and Marathon oil (MRO) will be replaced by Lamb-Weston (LW) and Quanta Services (PWR).

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

US$$

#usdollarfutures #ustreasurybondfutures

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

Daily – Flat. In the move down from 105.31 on 12/1/22. Trade pressures are down but rising. Volumes remain bearish.

At the 101.64 target down. Oversold is at 101.29.

A close above 102.17 would signal higher. Oversold is expected at 105.84.

 

US30YR T-BOND_ USH23

Weekly – In the January 2022 downtrend. Trade pressures are rising above neutral zone. Volumes are now bullish.

Daily  – Flat. The move up has been stopped by the 200 day MA. Trade pressures are down. Volumes are now bearish.

The next target down is the short entry at 128-19.

A close above 130-17 would signal higher.