Author: ChasW

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLU23

Weekly – In the July 2022 downtrend. Trade pressures are up into the neutral zone. Volumes are now bearish.

Daily – Flat. In the move up from the 69.27 move to uptrend on 6/1. Trade pressures are now down. Volumes are bearish.

Closed at 70.27. The next target up is 72.64. The next overbought level is 74.11.

A close below 70.24 will signal lower. The expected oversold levels are now 67.84.

 

NAT GAS_ NGN23

Weekly – In the December 2022 downtrend; dipping below long term support. Trade pressures are up into the neutral zone. Volumes are now bearish.

Daily – Flat. Pulled back below support to 2.13, then a breakout rally into a new uptrend on 6/2.  Trade pressures are up but turning down. Volumes are now neutral.

Got the close above 2.27 to trigger a new long, then a close into a new downtrend on 6/8. The expected overbought level is 2.55.

A close below 2.25 would signal lower. The expected oversold level is 2.08.

Too much volatility, Stay Away.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN23

Weekly – Now in a new May 2023 downtrend. Trade pressures are down. Volumes are bearish.

Daily – Flat, Still testing the 200 day MA as resistance. Trade pressures are up. Volumes are now bullish.

At the overbought level. Overbought levels are now 3.84.

A new close below 3.75 would signal lower. The expected oversold levels are now 3.56.

 

GOLD_ GCQ23

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

Daily – Flat. Interest rates rising stalling any move in gold. Trade pressures are up. Volumes are are now neutral.

The next target down is still 1964 and the expected oversold levels are 1940.

A close above upside resistance at 1978 signals higher. The next overbought levels are 2013.

 

SILVER_ SIN23

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

Daily – Long. the close above 24.26 has triggered the new long trade. Trade pressures are up. Volumes are now bullish.

The next target up is 25.93 with resistance at 25.22. Overbought levels are at 26.67.

A close below 24.21 would signal lower. Use 24.21 as the SL. Oversold levels are expected at 23.32.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper rallies to overbought.  Gold fails at 2000. Silver rallies off support.

The Crude rallies off oversold levels. Natural gas breaks out into long trade.

The US 30yr Treasury Bond rallies to overbought levels . Ten year yields looks lower.

The US Dollar futures corrected and now long again.

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S&P 500 Futures

Monthly – The close above the 4200 continues. Trade pressures are up. Volumes closed the month of April as bullish. The next target up is 4917. A close below 3867 would confirm any weekly move lower.

Weekly – The weekly long at 3998 moves above the 4256 target. Trade pressures are still up. Volumes remain bullish. The next target up is 4514. A close below the prior short signal of 4098 would confirm any daily move lower.

Daily – Long. In the move up from the reversal at 4148  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 4429.  Overbought is now 4245. A break below 4175 would signal lower. The next oversold level is 4094.

Set the SL at 4246.

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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 moved down then up this week. Portfolio values moved up to approximately $112,000. The Year-to-Date portfolio performance is now up 12%.

 

[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 bullish.

Daily – Long. the trade thru 102.64 on 5/17 was the trend change to up. Trade pressures are down into the neutral zone. Volumes are bearish.

At 103.95. The expected overbought levels are 104.41. The next target up remains 105.61.

102.82 is support. The expected oversold levels are now 102.25.

 

US30YR T-BOND_ USM23

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

Daily  – Long. The break above the 126-20 on 5/29 reverses the trade. Trade pressures are up but declining. Volumes are neutral.

the close above 128-09 confirms the lower time entry. The next target up is131-08. Overbought levels are 136-20.

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

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLU23

Weekly – In the July 2022 downtrend. Trade pressures are up into the neutral zone. Volumes are now neutral.

Daily – Flat. In the move up from the 69.27 move to uptrend on 6/1. Trade pressures are up. Volumes are neutral.

The next target up is 75.54. The next overbought level is 72.58.

A close below 69.93 will signal lower. The expected oversold levels are now 67.31.

 

NAT GAS_ NGN23

Weekly – In the December 2022 downtrend; sitting on long term support. Trade pressures are u[p into the neutral zone. Volumes are now neutral.

Daily – Flat. Pulled back below support to 2.13, then a breakout rally into a new uptrend on 6/2.  Trade pressures are still  down. Volumes remain bearish.

Need a close above 2.27 to trigger a new long The expected overbought level is 2.68.

A close below 2.13 would signal lower. The expected oversold level is 2.11.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN23

Weekly – Now in a new May 2023 downtrend. Trade pressures are down. Volumes are bearish.

Daily – Flat. Basing. Testing the 200 day MA as resistance. Trade pressures are up. Volumes are now bearish.

touched the overbought level and sold off. Overbought levels are now 3.79.

A new close below 3.69 would signal lower. The expected oversold levels are now 3.52.

 

GOLD_ GCQ23

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

Daily – Flat. Touched the 1939 oversold levels and bounced. Trade pressures are up but turned down. Volumes are bearish.

The next target down is still 1939 and the expected oversold levels are now 1940.

A close above upside resistance at 1984 signals higher. The next overbought levels are 2020.

 

SILVER_ SIN23

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

Daily – Flat. Still retracing the down-move. Trade pressures are up. Volumes are now bullish.

Rallying from the lower median line support at 22.78. Oversold levels are at 22.80.

A close above 24.39 would signal higher. Overbought levels are expected at 24.06.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper broke below the 3.66 consolidation then returned to that consolidation area.  Gold short looking to consolidate. Silver at support.

The Crude bias is short; at interim support. Natural gas rally stalls.

The US 30yr Treasury Bond short continues lower. Ten year yields still higher to 3.85 target.

The US Dollar futures continue long, but now at the overbought levels.

_________________

S&P 500 Futures

Monthly – The close above the 4200 confirmed. Trade pressures are up. Volumes closed the month of April as bullish, May volumes now catching up. The next target up is 4917. A close below 3850 would confirm any weekly move lower.

Weekly – The weekly long at 3998 continues to move higher and the week closed again above the prior week high. Trade pressures are still up. Volumes remain bullish. The next target up remains 4256. A close below the prior short signal of 4032 would confirm any daily move lower.

Daily – Flat. The close below 4126 on 5/26 triggered a new short. Trade pressures are up. Volumes are now bullish. The next target up is 4246.  Overbought is now 4196. A break below 4150 would signal lower. The next oversold level is 4073. Set the SL at the prior high.

[5-29-23: Take the loss on the short from 4126 at 4227. Now Flat.]

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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 moved down then up this week. Portfolio values moved down on the First Solar retracement to approximately $111,000. The Year-to-Date portfolio performance is now up 11%.

 

[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 bullish.

Daily – Long. the trade thru 102.64 on 5/17 was the trend change to up. Trade pressures are up. But, volumes are bullish.

At 104.13. The expected overbought levels are 104.43. The next target up is 105.61.

A close below 103.72 would signal lower. The expected oversold levels are now 101.94.

 

US30YR T-BOND_ USM23

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

Daily  – Short. The break below 129-20 on 5/15 triggered the short entry. Trade pressures are down. Volumes remain bearish.

Closed below the 127-12 target; so still lower. The next target down is 123-22. Oversold levels are 123-25.

A close above 126-20 would signal higher.  The expected overbought level is 129-01.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLU23

Weekly – In the July 2022 downtrend. Trade pressures are up into the neutral zone. Volumes are now neutral.

Daily – Flat. In the move up from the 5/5 (Sept) entry. Trade pressures are down into the neutral zone. Volumes are now neutral.

The next target up is 74.62. The next overbought level is 74.27.

A close below 70.22 will signal lower. The expected oversold levels are now 69.88.

 

NAT GAS_ NGN23

Weekly – In the December 2022 downtrend; sitting on long term support. Trade pressures are u[p into the neutral zone. Volumes are now neutral.

Daily – Flat. Pulling back to support at 2.31.  Trade pressures are down. Volumes are now bearish.

The next target up is 3.38. The expected overbought level is 2.70.

A close below 2.31 would signal lower. The expected oversold level is 2.24.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN23

Weekly – Now in a new May 2023 downtrend. Trade pressures are down. Volumes are bearish.

Daily – Flat. The drop to 3.54 returned to the consolidation area of 3.66. Trade pressures are rising into the neutral zone. Volumes are now bullish.

In the move up from the 3.60 crossover to uptrend in the lower time frames. Overbought levels are  3.77 .

A new close below 3.62 would signal lower. The expected oversold levels are now 3.51.

 

GOLD_ GCQ23

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

Daily – Flat. Stopped out of the move down from the 2062 (August), the 5/5 short entry. Trade pressures are down. Volumes remain bearish.

The next target down is 1939 and the expected oversold levels are 1939.

A close above upside resistance at 1977 signals higher. The next overbought levels are 2031.

 

SILVER_ SIN23

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

Daily – Flat. In the move up from the 2hr 23.13 breakout. Trade pressures are down but rising. Volumes are now bullish.

Dropped to the lower median line support at 22.78. Oversold levels are at 22.74.

A close above 24.26 would signal higher and confirm the 23.13 break. Overbought levels are expected at 24.12.