Author: ChasW

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper retracing in new uptrend.  Gold is now long. Silver near support.

The Crude is in the move down. Natural gas rallies thru resistance.

The US 30yr Treasury Bond long trade is testing the upper median line.

The US Dollar futures are now short.

_________________

S&P 500 Futures (Sept contract)

Monthly – A close above the 4300. Trade pressures remain up. Volumes closed the month of May as bullish. The next target up is 4961. A close below 4183 would confirm any weekly move lower.

Weekly – The weekly long on 3/31 at 4052 turns to short with the close below 4392. Trade pressures are still up. Volumes remain bullish. The next target down is 4291. A close above 4525 would confirm any daily move higher.

Daily – Short. In the move down from the reversal to short at 4392 on 6/23 . Trade pressures are down. Volumes are bearish. The next target down is 4291  Oversold is now 4139. A break above 4428 would signal higher. The next overbought is 4386.

Set the SL at 4428.

[6-27-23: Lower SL to BE at 4392]

___________________

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 remained at approximately $114,000. The Year-to-Date portfolio performance is now up 14%.

 

[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 down. Volumes are now bearish.

Daily – Long. In the move up from 102.15 on 6/14. Trade pressures are now up. Volumes are bullish.

The next target up is 103.00. The expected overbought levels are 104.63.

A close below 102.16 would signal lower. The expected oversold levels are now 102.40.

 

US30YR T-BOND_ USU23

Weekly – In the October 2021 downtrend and still testing the upside resistance. Trade pressures are down but rising. Volumes remain bearish.

Daily  – Long. From the close above 128-08 on 6/20. Trade pressures are up into the neutral zone. Volumes are bullish.

The next target up is 131-05. Overbought levels are 137-02.

A close below 125-13 would signal lower.  USE 125-10 as the SL.
The expected oversold level is 123-20.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLU23

Weekly – Remains in the July 2022 downtrend. Trade pressures are up into the neutral zone. Volumes remain bearish.

Daily – Flat. In the  move down from 70.31 on 6-20. Trade was stopped out for a loss. Trade pressures are down. Volumes are bearish.

The  next target down is 65.81. The expected oversold levels are now 66.75.

Expect a retracement up from 68.78. A close above 70.19 would signal higher. The next overbought level is 71.98.

 

NAT GAS_ NG@23

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

Daily – Long. Broke above the 2.51 resistance on 6/15.  Trade pressures are up. Volumes are bullish.

The next target up is 3.43. The expected overbought level is 2.41.

A close below 2.465 would signal lower. The expected oversold level is 2.13.

Still too much volatility, Stay Away.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN23

Weekly – Now in a new May 2023 downtrend. Trade pressures are now up. Volumes are bullish.

Daily – Long. The new long entry was at 3.82 on 6/20. Stopped out 6/23 at BE; looking for a new long entry. Trade pressures are now down. Volumes are bearish.

The next target up is still 4.09. Overbought levels are now 3.87.

A new close below 3.72 would signal lower. The expected oversold levels are now 3.60.

 

GOLD_ GCQ23

Weekly – In the November 2022 uptrend. Testing the support levels. Trade pressures are now down. Volumes remain bearish.

Daily – Long. Reversed the short at 1930, the oversold levels on 6/23. Trade pressures are down. Volumes are are now bearish.

The next target up is 1946. The next overbought levels are 1996.

The next target down is 1905; well below the expected oversold levels at 1933.

 

SILVER_ SIN23

Weekly – In the April 2023 uptrend but testing support. Trade pressures are now down. Volumes remain bearish.

Daily – Flat. In the second leg down from the 23.50 short entry on 6/20. Trade pressures are now down. Volumes are bearish.

The next target down is 21.56.  Oversold levels are 21.19.

A close above 22.59 would signal higher. Overbought levels are expected at 23.31.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is in new uptrend.  Gold is now short. Silver was stopped out.

The Crude is back into the down channel. Natural gas rallies.

The US 30yr Treasury Bond long trade is testing the 200 day MA resistance.

The US Dollar futures now short and showing a long bias.

_________________

S&P 500 Futures (Sept contract)

Monthly – A close above the 4300. Trade pressures remain up. Volumes closed the month of May as bullish. The next target up is 4961. A close below 4183 would confirm any weekly move lower.

Weekly – The weekly long on 3/31 at 4052 moves above the 4300 target. Trade pressures are still up. Volumes remain bullish. The next target up is 4558. A close below 4294 would confirm any daily move lower.

Daily – Long. In the move up from the reversal at 4192 on 5/26 to long. The 6/2 break above 4250 starts a new uptrend. Trade pressures are up. Volumes remain bullish. At the 4473 target; expect retracement here.  Overbought is now 4441. A break below 4392 would signal lower. The next oversold level is 4211.

Raise the SL to 4392.

[6-23-23: Short at the 4392 level. SL 4427.]

___________________

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 moved up to approximately $114,000. The Year-to-Date portfolio performance is now up 14%.

 

[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 – Short. The trade is 101.68 on 6/14. Trade pressures are down. Volumes are bearish.

The next target down is 101.09. The expected sold levels are 101.60.

A close above 102.96 would signal higher. The expected overbought levels are now 104.85.

[6-23-23: Reverse to long trade. ]

 

US30YR T-BOND_ USU23

Weekly – In the October 2021 downtrend and still testing the upside resistance. Trade pressures are down. Volumes are now bearish.

Daily  – Long. The close above 128-08 confirms the long entry. Trade pressures are up into the neutral zone. Volumes are neutral.

The next target up is 131-05. Overbought levels are 137-02.

A close below 125-13 would signal lower.  USE 125-10 as the SL. The expected oversold level is 123-20.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLU23

Weekly – Remains in the July 2022 downtrend. Trade pressures are up into the neutral zone. Volumes remain bearish.

Daily – Short. In the new move down from 70.31 on 6-20. Trade pressures are down. Volumes are neutral.

The  next target down is 68.25. The expected oversold levels are now 66.90.

a close above 75.59 would signal higher. The next overbought level is 73.51. Set the SL at 72.38.

[6-21-23: Stopped out at 72.38 for a loss.]

 

NAT GAS_ NGN23

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

Daily – long. broke above the 2.51 resistance on 6/15.  Trade pressures are up. Volumes are now bullish.

The next target up is 3.33. The expected overbought level is 2.70.

A close below 2.41 would signal lower. The expected oversold level is 2.16.

Too much volatility, Stay Away.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN23

Weekly – Now in a new May 2023 downtrend. Trade pressures are now up. Volumes are bare now bullish.

Daily – Long. Now above the the 200 day MA and the the new long entry at 3.82 on 6/20. Trade pressures are up. Volumes are neutral.

The next target up is 4.09. Overbought levels are now 3.93.

A new close below 3.82 would signal lower. The expected oversold levels are now 3.65.

[6-23-23: Stopped out at the BE of 3.82.]

 

GOLD_ GCQ23

Weekly – In the November 2022 uptrend. Testing the support levels. Trade pressures are now down. Volumes remain bearish.

Daily – Short. down hard after the long weekend. Trade pressures are down into the neutral zone. Volumes are are now neutral.

The next target down is 1923; well below the expected oversold levels at 1953.

A close above upside resistance at 1965 signals higher. The next overbought levels are 1995.

[Reverse at the 1930 long entry. SL at 1919.]

 

SILVER_ SIN23

Weekly – In the April 2023 uptrend but testing support. Trade pressures are in the neutral zone. Volumes remain bearish.

Daily – Flat. stopped out of the 24.26 long trade. Trade pressures are now down. Volumes are bullish.

The next target down is 22.94.  Oversold levels are 22.81.

A close above 23.89 would signal higher. Overbought levels are expected at 24.54.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper still overbought.  Gold waiting for an interest rate signal this week. Silver now a long trade.

The Crude is back into the down channel. Natural gas stalls.

The US 30yr Treasury Bond long trade needs a break above the 200 day MA.

The US Dollar futures long trade sitting on support and showing a short bias.

_________________

S&P 500 Futures (Sept contract)

Monthly – A close above the 4300. Trade pressures remain up. Volumes closed the month of May as bullish. The next target up is 4961. A close below 4080 would confirm any weekly move lower.

Weekly – The weekly long on 3/31 at 4052 moves above the 4300 target. Trade pressures are still up. Volumes remain bullish. The next target up is 4558. A close below 4170 would confirm any daily move lower.

Daily – Long. In the move up from the reversal at 4192 on 5/26 to long. The 6/2 break above 4250 starts a new uptrend. Trade pressures are neutral. Volumes are bullish. The next target up is 4473.  Overbought is now 4328. A break below 4284 would signal lower. The next oversold level is 4108.

Keep the SL at 4246.

___________________

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 moved up to approximately $113,000. The Year-to-Date portfolio performance is now up 13%.

 

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXM23 (rolls over this week)

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

Daily – Short. The trade thru 102.64 on 5/17 was the trend change to up now signaling a pullback at 103.34. Trade pressures are down. Volumes are bearish.

At 103.53. The expected sold levels are 103.00. The next target down is 102.08 which is also support.

A close above 103.67 would signal higher. The expected overbought levels are now 104.60.

 

US30YR T-BOND_ USU23

Weekly – In the October 2021 downtrend and still testing the upside resistance. Trade pressures are down. Volumes are now bearish.

Daily  – Long. The close above 128-08 confirms the long entry. Trade pressures are up into the neutral zone. Volumes are neutral.

The next target up is 131-08. Overbought levels are 136-29.

A close below 126-14 would signal lower.  The expected oversold level is 123-26.