Author: ChasW

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is at overbought levels. Gold and silver near overbought levels.

Crude Oil is trying to rally with the equity markets. Natural gas attempted a breakout but failed.

The US 30 Year Treasury has broken our with the lower inflation report.

The US Dollar futures are selling hard, but below the current oversold levels.

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S&P 500 Futures_

Monthly – Breaks above the prior month highs. Trade pressures are down. Volumes closed  the month of October as bearish. The next target down is 3008. A close above 4138 would confirm any weekly move higher.

Weekly – In the move up from the 3674 long entry on week ending 10/21. Trade pressures are rising to the neutral zone. Volumes are bullish. The next target up is 4190. A close below 3809 would confirm any daily move lower.

Daily – In the move up off the 3674 long entry on 10/18. The small bull flag was broken to the upside on 11/4. The inflation report triggered a follow thru to the upside on 11/10. Trade pressures are up, but showing some divergence as the market is overbought at the 3996 level. Volumes are bullish. The next target up is 4190. A close below 3810 would signal lower and oversold levels are much lower at 3643.

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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 2022 year.

The portfolio stocks closed up 39% for the 2021 Year.

This week’s market closed up sharply. The portfolio value move up 1% to approximately $76,000. The energy stocks did not participate fully. The Year-to-Date portfolio performance is now down 24%.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ22

Weekly – In the March 2021 long uptrend. Trade pressures are down. Volumes are bearish. Resistance is at 104.

Daily – In the sharp move down from the 111.00 short entry. Trade pressures are down. Volumes are bearish.

The next target down is 104.34. Already beyond the oversold level of 107.75.

A close above 108.61 would signal higher. The next overbought level is 113.36.

 

US30YR T-BOND_ USZ22

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

Daily – Flat. Three failed tests of the 121-11 long entry, then a breakout with the lower inflation number. Trade pressures are up. Volumes are bullish.

Wait for a pullback into the 121’s to enter long on a bullish reversal of the trade pressures. The next target up is 125-02.

A close below 122-26 would signal lower.

 

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLZ22

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

Daily – Flat. In the gap between long and short. Trade pressures are up. Volumes are now neutral.

The next target up is 89.05, a new long entry. Overbought level is 93.11.

A close below 83.41 would signal lower. 84.01 is the oversold level.

 

NAT GAS_ NGHZ22

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

Daily – Flat. Much too much volatility; the daily ranges are 1/2 of a big point. Trade pressures are down but rising. Volumes are bearish.

The next target up is a retest of the 6.50 long entry. 6.91 is the current overbought level.

A close below 5.80 would signal lower. But the oversold levels are now at 5.51.

 

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGZ22

Weekly – In the May 2022 downtrend; Testing resistance now. Trade pressures are up. Volumes are bullish.

Daily – Flat. In the move up from the 3.64 long entry on 11/08, 11/9 SL @ BE. Trade pressures are up. Volumes are bullish.

The next target up is the 200 day MA at 4.01; now above the over bought level at 3.85.

A close below 3.78 would signal lower. The 3.30 oversold level is the target.

 

GOLD_ GCZ22

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

Daily – Flat. In the move up from the 1650 long entry on 11/4. Trade pressures are up. Volumes are bullish.

PT at 1682 taken on 11/7. The next target up is 1825.

Now above the new overbought levels of 1776. A close below 1727 would signal lower.

 

SILVER_ SIZ22

Weekly – In the May 2022 downtrend. Trade pressures are up. Volumes are bullish. Testing the upside resistance.

Daily – Flat. In the 11/8 move up from the 21.14 long entry. SL hit on 11/9 at BE. Trade pressures are up. Volumes are bullish.

The next target up is 23.48.

A close b elow 21.33 would signal lower.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper breaks to the upside. Gold and silver move up late in the week.

Crude oil is higher. Natural gas is basing with a new long entry nearby.

The US 30year treasury bond is a long entry, but not much follow thru.

The US Dollar futures are lower within the long move up.

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S&P 500 Futures_

Monthly – Trading between 3590 and 3880. Trade pressures are down. Volumes closed the month of October as bearish. The next target down is 3008. A close above 4138 would confirm any weekly move higher.

Weekly – In the move up from the 3674 long entry. Trade pressures are down but rising. volumes are bearish. The next target up is 3927. A close below 3729 would confirm any daily move lower.

Daily – In the move up from the 3664 long entry on 10-18. Now in a pullback from the upper median line resistance. Trade pressures are down. Volumes are bullish. The next target up is 3927. The 11/3 close below 3725 signaled lower but was quickly rejected the next day with a 100 pt move higher. However, a second move down thru this short trigger would signal lower.

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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 2022 year.

The portfolio stocks closed up 39% for the 2021 Year.

This week’s market closed down. The portfolio value remained unchanged at approximately $75,000. The Year-to-Date portfolio performance is now down 25%.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ22

Weekly – Experiencing a pullback in the long March 2021 uptrend. Trade pressures are down into the neutral zone. Volumes are bearish.

Daily – Traded up thru the new long entry at 111.86 on 11/3 then reversed on Friday to near the oversold levels. Trade pressures are now don into the neutral zone. Volumes are now bearish.

The next target up remains 114.55 which is also near the overbought levels of 113.75.

The close below 111.92 has triggered a short entry to retest the oversold levels at 109.73.

 

US 30YR TBOND_ USZ22

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

Daily – Long, In the move up from the 121-10 trigger on 10/26. Trade pressures are down. Volumes are bearish.

The 10 year over bought yield is near 4.30.  The next 30YR target up is 125-02.

In a pullback now. A close below 118-20 would signal lower. Use this as the SL.

[11-7-22 ;Stopped out at the 118-20 for a loss.]

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLZ22

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

Daily – Flat. In the move up from the 83.84 long entry on 10/4 which has been stopped out. Trade pressures are up. Volumes are bullish.

The next target up is 96.38. Overbought is 91.84.

A close below 91.74 would signal lower. Oversold is at 84.14.

 

NAT GAS_ NGZ22

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

Daily – Flat. In the move off the oversold low of 5.30. Trade pressures are up. Volumes are bullish.

The new long entry is above at 6.50. Oversold is 6.56. so maybe pass this trade.

A close below 6.31 would signal lower. But that is inside the volatility true range , so pass this also.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGZ22

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

Daily –  Flat, in the move up from the 3.49 long entry on 11/1. Trade pressures are now up. Volumes are bullish.

The next target up was the Profit Target at 3.61, which was met on Friday. Following that the next target up is 3.89. 3.61 is the overbought level.

A close below 3.53 would signal lower. 3.32 will be the oversold level. TP

 

GOLD_ GCZ22

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

Daily – Long in the move up off the oversold levels at 1629 on 11/3. Trade pressures are up. Volumes are bullish.

The overbought profit target of 1678 was met and taken on 11/4.
The next target up is 1697.

A close below 1672 would signal lower. The next oversold level is 1621.

 

SILVER_ SIZ22

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

Daily – Long, in the move up from the 19.35 long entry on 11/01. Trade pressures are up into the neutral zone. Volumes are bullish.

The next target up is 21.39. SL at the BE , 19.35. TP at 21.39.

A close below 20.63 would signal lower. SL at the 20.63.

[11-7-22: SL at 20.63 triggered.]

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper can’ t decide which way to break. Gold is testing a new long entry. Silver’s move down is erratic.

Crude oil is getting near an over bought level. Natural gas is near oversold.

The US 30 year Treasury is in a new long, but 10 year yields are near support.

The US Dollar futures are near oversold.

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S&P 500 Futures_

Monthly – A sizeable retracement up of the previous month move down is underway. Trade pressures are down. Volumes closed the prior month as bearish. The next target down is 3008. A close above 4138 would confirm any weekly move higher.

Weekly – In the move up from the 3674 entry on 10/21. Trade pressures are down but rising. Volumes are bullish but on very low volume. The next target up is 3927. A close below the 3502 low would confirm any daily move lower.

Daily – The Friday close above the upper median line signals higher. Trade pressures are up. Volumes are bullish. Mid week experienced more than a 100 S&P point down-move, which was reversed on Friday to close on the highs. The next target up is 3927. A close below 3698 would signal lower. FED reports on Wed.

___________________

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 2022 year.

The portfolio stocks closed up 39% for the 2021 Year.

This week’s market closed up. The portfolio value remained unchanged at approximately $76,000. The Year-to-Date portfolio performance is now down 24%.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ22

Weekly – Retracing in the long uptrend from March 2021. Trade pressures are down into the neutral zone. Volumes are now bearish.

Daily – In the move down form the 113.58 short entry on 9/28. Trade pressures are down but rising. Volumes are now neutral.

109.35 is the oversold level. The next target down is 107.26.

A close above 111.86 would signal higher. 114.01 is the overbought level.

 

US 30YR T-BOND_ USZ22

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

Daily – Long in the new move up from 121-11 long entry price. Trade pressures are up. Volumes are bullish.

The next target up is 125-02.

A close below the 117-19 low would signal lower. use as a SL. 10 year yields are looking higher so tight stops.