Author: ChasW

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXM23

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

Daily – Flat. Still looking for a new move up. Trade pressures are down but turning up. Volumes are now bearish.

The next target down is 100.53. Oversold is now 100.73.

A close above 101.31 would signal higher. The expected overbought levels are 101.98.

 

US30YR T-BOND_ USM23

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

Daily  – Flat. Signaled a new short trade from 131-22 on 4-14 –  wait. Trade pressures are down. Volumes are now neutral.

The next target down is 128-23. Oversold levels are 123-14.

The next target up is a breakout above 132-00. Had a move above the breakout on 5/4,  but then immediately moved back into the downtrend channel. The overbought level is 133-92.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM23

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

Daily –Long. Trading up off the 63.64 lows, long at 68.16. Trade pressures are down but rising into the neutral zone.. Volumes are now neutral.

The next target up is 75.49. The next overbought level is 75.63.

A close  below 69.10 would signal lower. The expected oversold levels are now 67.01.

 

NAT GAS_ NGN23 (July Contract)

Weekly – In the December 2022 downtrend. Trade pressures are down. Volumes remain bullish.

Daily – Flat. In the continued move down from the 2.82 level on3/20. Out of the the long trade with a 2.46 BE stop.  Trade pressures are down but turning up. Volumes are bearish.

The next target down is 2.078. The expected oversold level is 2.01.

A close above 2.35 would signal higher. The expected overbought level is 2.51.

 

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN23

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

Daily – Flat. Still consolidating at the 3.86 downside target. Trade pressures are up. Volumes are now bearish.

The next target down is still 3.56. Oversold levels are 3.79.

The close above 3.88 signal higher is still in effect, but waiting for better trade lower time frame setup; looking for a bullish reversal on the 2-hr chart. Now below the expected oversold levels of 3.96.

 

GOLD_ GCM23

Weekly – In the December 2022 uptrend. Trade pressures are up and still rolling over. Volumes are now bearish.

Daily – Flat. Rallied above the 2005 long entry to a high of 2085 and then turned down on Friday to close below 2044, the new short entry. Trade pressures are now down. Volumes are bearish.

The next target down is 1983 and the expected oversold levels are 1999.

A close above 2078 is upside resistance. The next overbought levels are 2063.

 

SILVER_ SIN23

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

Daily – Flat. Traded above the 26.03 resistance levels.  Trade pressures are down but rising. Volumes remain bullish.

The next target down is 23.96. Oversold levels are at 24.85.

A close above 25.09 would signal higher. The overbought levels remain at 26.28.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is oversold.  Gold is in a short trade but not following thru. Silver is also extended and still looking for a correction.

The Crude is bouncing off the oversold level. Natural gas July contract still long. Tight stops.

The US 30yr Treasury Bond stopped out of the long trade.

The US Dollar futures still near a new long entry.

_________________

S&P 500 Futures (June contract)

Monthly – A break above the 4200 level would be of some monthly significance. Trade pressures are now up. Volumes closed the month of April as bullish. The next target down is 3084. A close above 4204 would confirm any weekly move higher.

Weekly – The weekly long at 3998 continues to move higher; attempted a move down but recovered quickly. Trade pressures are up thru the neutral zone. Volumes are bullish. The next target up remains 4256. A close below lower median line at 4160 would confirm any daily move lower.

Daily – Flat. In the move up from 4153 on 4/27. Trade pressures are up. Volumes remain bullish. The next target up is 4259. The close below 4102 took the market down to support below 4100 and then turned higher. Oversold is now 4136. The break above 4153 has signaled a new long with the next target up at 4248. Overbought levels are now 4152.

[5-2-23: The short trade down below 4173 at 9am CST down below the oversold levels at 4126. The next target down is 4076. A close back above 4157 would restart the move up.]

___________________

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 dropped below the 4100 level but quickly recovered. Portfolio values moved down a fraction to approximately $109,000. The Year-to-Date portfolio performance is now up 9%.

Cadence Design Systems (CDNS), Marathon Petroleum (MPC), and Genuine Parts Corp (GPC) will be replaced buy First Solar  (FSLR), Coca Cola FEMSA (KOF), and the return of Quanta Services (PWR) on Monday at the open.

 

[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 down. Volumes are bearish.

Daily – Flat. Looking for a new move up. Trade pressures are up. Volumes are now bearish.

The next target down is 100.84. Oversold is now 100.99.

A close above 101.71 would signal higher. The expected overbought levels are 102.15.

 

US30YR T-BOND_ USM23

Weekly – In the October 2020 downtrend and still testing the upside resistance. Trade pressures are down. Volumes are still bullish.

Daily  – Flat. Signaled a new short trade from 131-22 on 4-14 but with conflicting signals – wait. Trade pressures are down, but rising. Volumes are now bullish.

The next target down is 128-23. Oversold levels are 123-14.

The next target up is a breakout above 132-00. The overbought level is 133-12.

 

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM23

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

Daily –Flat. Trading up off the oversold levels. Trade pressures are down but rising. Volumes are bearish.

Traded down to 74.17. The next target down is 71.86.The oversold level is 73.38.

The close above 75.45 has signaled higher. The overbought level is now 78.90.

[5-2-23: Closed at the 71.96 downside target. The next target down is 64.02. A close above 75.94 would signal higher.]

 

NAT GAS_ NGN23 (July Contract)

Weekly – In the December 2022 downtrend. Trade pressures are down. Volumes remain bullish.

Daily – Long. In the move up from the 2.46 long entry on 4/14 . Trade pressures are up. Volumes are bearish.

The next target up is 2.86. Overbought level is 2.53.

Downside support at the lower median line at 2.38.  The expected oversold level is 2.14.

Again, this is a counter trend trade so be cautious. Stops are at the 2.46 BE.

[5-2-23: Stops at 2.46 triggered; now out at BE.]

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN23

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

Daily – Flat. At the 3.86 downside target. Trade pressures are down and turning up. Volumes are now neutral.

The next target down is 3.56. Oversold levels are 3.792.

The close above 3.88 has signaled higher, but waiting for better trade pressures. The expected oversold levels are 4.00.

 

GOLD_ GCM23

Weekly – In the December 2022 uptrend. Trade pressures are up and still rolling over. Volumes remain neutral.

Daily – Flat. Still in the short trade below 2022. Trade pressures are down. Volumes are bearish.

The next target down is 1961 and the expected oversold levels are 1984.

A close above 2005 would signal higher. The next overbought levels are 2048.

[5-2-23: Rallied off the oversold levels. The move thru the 2005 level has set a new long trade. The next target up is a test of the 2046 resistance. A break blow the 1989 level would signal lower.]

 

SILVER_ SIN23

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

Daily – Flat. In the July contract. Have traded down thru the 25.00 short entry, but now back above.. Trade pressures are down but rising. Volumes are now bullish.

The next target down is 23.96. Oversold levels are at 21.40.

A close above 25.43 would signal higher. The overbought levels remain at 23.75.

Navellier Top 5 Stocks for May

High-Growth Investments

Coca-Cola FEMSA Sab de CV

Coca-Cola FEMSA Sab de CV (KOF) was a new addition to the High-Growth Investments Buy List in April. If you recall, the company is the biggest Coca-Cola franchise bottler in the world, operating 49 bottling plants and 268 distribution centers in 10 countries in Latin America. And it has a vast portfolio of brands, including Coca-Cola, Fanta, Sprite, Powerade, Vitamin Water, Monster and Fuze Tea.

The company hasn’t confirmed the date for its first-quarter earnings announcement, but the analyst community has been busy preparing for the report. Earnings estimates have been revised 5.5% higher in the past two months, which bodes well for a fourth-straight quarterly earnings surprise.

First-quarter earnings are forecast to grow 43.3% year-over-year to $0.96 per share, up from $0.67 per share in the same quarter a year ago. Revenue is expected to rise 22.3% year-over-year to $3.05 billion. KOF is a Conservative buy below $90.

SOM Technicals:

4-28-23: Closed at 84.42. Trade pressures are down, but rising.  Volumes are now neutral.  The next target down is 79.84.

5-07-23: Closed at 88.48. Trade pressures are up. Volumes are bullish. The next target up is 89.08.

5-13-23: Closed at 88.73. Trade pressures are up but rolling over. Volumes are now neutral. The next target down is 86.56.

5-20-23: Closed at 88.79. Trade pressures are  down but rising. Volumes are bearish. The next target down is 86.56.

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) is the second-largest supplier of frozen potatoes in the world – and its most-popular product is frozen fries. About 80 million portions of fries are sold each day globally. And based on the company’s latest results, folks continue to have an insatiable appetite for its frozen food offerings, especially French fries.

During its third quarter in fiscal year 2023, sales increased 31% year-over-year to $1.25 billion, and adjusted earnings soared 125% year-over-year to $207 million, or $1.43 per share. Analysts expected earnings of $0.99 per share on $1.16 billion in sales, so Lamb Weston posted a 44.4% earnings surprise and a 7.8% sales surprise.

Lamb Weston also provided positive guidance for its fiscal year 2023: Sales are forecast to be between $5.25 billion and $5.35 billion, and adjusted earnings per share are expected to be between $4.35 and $4.50. So, the analyst community has increased fourth-quarter and full-year earnings estimates over the past month. LW remains a Conservative buy below $119.

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.

2-24-23: Closed at 99.98. Trade pressures are down. Volumes are now neutral. The next target down is 87.01.

3-4-23: Closed at 101.98. Trade pressures are up. Volumes are bullish. The next target up is a breakout above the prior high at 102.77.

3-11-23: Closed at 97.63. Trade pressures are down. Volumes are bearish. The next target down is the short entry at 97.30.

3-17-23: Closed at 97.62. Trade pressures are down but rising. Volumes are bearish. the next target down is 91.83.

3-24-23: Closed at 100.18. Trade pressures are down but rising into the neutral zone. Volumes are bullish. The next target up is 102.70.

3-31-23: Closed at 104.52. Trade pressures are up. Volumes are bullish. The next target up is 107.05.

4-14-23: Closed at 108.71. Trade pressures are up but turning down.  Volumes are bullish. The next target down is 104.23.

4-22-23: Closed at 110.35. Trade pressures are up. Volumes are bullish. The next target up is 112.88.

4-28-23: Closed at 111.81. Trade pressures are up . Volumes are bullish. The next target up is 117.72.

5-07-23: Closed at 112.09. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 107.56.

5-13-23: Closed at 114.28. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

5-20-23: Closed at 114.48. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

 

First Solar, Inc.

First Solar, Inc. (FSLR) was added to the High-Growth Investments Buy List in the April Monthly Issue, as the company has been making the transition from negative to positive earnings. Well, the solar manufacturer released first-quarter results after the stock market closed on Thursday, and results showed continued earnings and sales growth.

For the first quarter, First Solar reported earnings surged to $0.40 per share, up from a $0.41 per share loss in the same quarter a year ago. First-quarter sales increased 49.4% year-over-year to $548.29 million. The consensus estimate called for earnings of $0.93 per share on $718.44 million in sales.

Company management commented, “We entered 2023 in a significantly stronger commercial, operational, and financial position than the previous year, setting the stage for growth and improved profitability in 2023 and beyond.” So, the company left its full-year guidance unchanged.

For fiscal year 2023, First Solar anticipates total sales between $3.4 billion and $3.6 billion and earnings per share between $7.00 and $8.00. That compares to sales of $2.39 billion and an earnings per share loss of $0.37 in fiscal year 2022. Clearly, First Solar still has stunning forecasted earnings and sales growth. FSLR is a Moderately Aggressive buy below $215.

SOM Technicals:

4-28-23: Closed at 182.63. Trade pressures are down Volumes are now neutral. The next target down is 178.66.

5-7-23: Closed at 178.60. Trade pressures are down but rising. volumes are now neutral. The next target up is 181.59.

5-13-23: Closed at the 231.69, up 50.00. Trade pressures are up. Volumes are a high volume bullish. The next target up is 249.63. 

5-20-23: Closed at 203.63, retracing the large move up. Trade pressures are down. Volumes are neutral. Maybe going to fill the gap.

 

Novo Nordisk AS

Novo Nordisk AS (NVO) is a biotech company focused on developing treatments to combat diabetes, obesity and other chronic illnesses, as well as rare blood and rare endocrine diseases. The company’s leading treatment is Ozempic, and its sales rose 45% in 2022. Novo Nordisk anticipates strong Ozempic, as well as Wegovy, sales in 2023.

In fact, Novo Nordisk recently provided an early look at its first quarter and increased its guidance for fiscal year 2023. The company noted that sales rose 25% year-over-year and its operating profit grew 28% year-over-year in the first quarter. Novo Nordisk is scheduled to announce final first-quarter results on Thursday, May 4.

So, now, Novo Nordisk anticipates full-year sales growth between 24% and 30% and operating profit growth between 28% and 34%. That compares to previous estimates for 13% to 19% annual sales growth and 13% to 19% annual operating profit growth. NVO is a Conservative buy below $179.

SOM Technicals: 

2-24-23: Closed at 141.60. Trade pressures are down. Volumes are now neutral. The next target down is 188.22.

3-4-23: Closed at 144.90. Trade pressures are up. Volumes are bullish. The next target up is 149.62.

3-11-23: Closed at 141.29. Trade pressures are down but rising. Volumes are bearish. The next target down  is 134.71.

3-17-23: Closed at 139.44. Trade pressures are down but rising. Volumes are neutral. The next target down is 134.74.

3-24-23: Closed at 152.76. Trade pressures are up. Volumes are bullish. The next target up is 159.89.

3-31-23: Closed at 159.14. Trade pressures are up. Volumes are bullish. The next target up is 177.85.

4-14-23: Closed at 168.60. Trade pressures are up. Volumes are bullish. The next target up is 177.65.

4-22-23: Closed at 172.65. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 177.65.

4-28-23: Closed at 167.09. Trade pressures are up. Volumes are now neutral. The next target down is 159.13.

5-7-23: Closed at 163.24. Trade pressures are down but rising. Volumes are neutral. The next target up is 167.92.

5-13-23: Closed at 171.27. Trade pressures are up. Volumes are bullish. The next target up is 177.65.

5-20-23: Closed at 170.54. Trade pressures are up. Volumes are bullish. The next target up is 172.97.

 

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. In fact, the company achieved record earnings and revenue in fiscal year 2022.

For fiscal year 2023, Quanta Services anticipates that demand for its products and services will persist, and it provided a strong outlook. Full-year revenue is expected to be between $18.40 billion and $18.90 billion, and adjusted earnings per share are forecast to be between $6.75 and $7.25.

Quanta Services is scheduled to release first-quarter results before the stock market opens on Thursday, May 4. The current consensus estimate calls for earnings of $1.13 per share on $4.08 billion in revenue, which compares to earnings of $1.37 per share and revenue of $3.97 billion in the first quarter of 2022. PWR is a Conservative buy below $182.

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.

2-24-23: Closed at 160.64. Trade pressures are up. Volumes are neutral. The next target up is 163.65.

3-4-23: Closed at 163.12. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 168.75.

3.11.23: Closed at 157.35. Trade pressures are down. Volumes are bearish. The next target down is 148.96.

3-17-23: Closed at 155.10. Trade pressures are in the neutral zone. Volumes are bearish. The next target down is 148.96.

3-24-23: Closed at 160.78. Trade pressures are down. Volumes are bullish. The next target down is 156.74.

4-28-23: Closed at 169.64. Trade pressures are up into the neutral zone. Volumes are bullish. The next target up is 170.39.

5-7-23: Closed at 171.07. Trade pressures are down but rising into the neutral zone. Volumes are bullish. The next target up is 171.94, the prior high.

5-13-23: Closed at 173.85. Trade pressures are up. Volumes are now bearish. The next target up is 179.82.

5-20-23: Closed at 171.72. Trade pressures are up. Volumes are neutral. The next target up is 179.82.

 

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is short but take profits in the rollover.  Gold is at support. Silver is extended and looking for a correction.

The Crude is now a short. Natural gas July contract still long. Tight stops.

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

The US Dollar futures now neutral but still near a new long entry.

_________________

S&P 500 Futures (June contract)

Monthly – A break above the 4200 level would be of some monthly significance. Trade pressures are rising out of the neutral zone. Volumes closed the month of March as neutral. The next target down is 3084. A close above 4204 would confirm any weekly move higher.

Weekly – The weekly long at 3998 continues to move higher, grudgingly, in a back and filling mode. Trade pressures are up thru the neutral zone. Volumes are bullish. The next target up is 4256. A close below lower median line at 4127 would confirm any daily move lower.

Daily – Flat. In the move up from 3944 on 3/17. Trade pressures remain up but have turned down. Volumes remain bullish. The next target up is 4259. Overbought is 4174. A close below 4102 would signal lower. Oversold is 4019 and still looking for a pullback to near that 4000 level.

[4-25-23: ESM23 now short at 4102.]

[4-26-23: Quick drop from 4102 short. Set new SL at the 4102 BE. Profit stop at 3948.]

[4-27-23: Stopped out at BE.]

___________________

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 stayed above the 4100 level. Portfolio values moved down a fraction to approximately $110,000. The Year-to-Date portfolio performance is up 10%.

 

[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 down. Volumes are bearish.

Daily – Flat. In the move down from the 102.04 short entry on 3-22. Trade pressures are up but turned down. Volumes are now neutral.

The next target down is 98.61. Oversold is now 100.70.  [Look for a new long below 100.]

A close above 102.27 would signal higher. The expected overbought levels are 102.48.

 

US30YR T-BOND_ USM23

Weekly – In the October 2020 downtrend and still testing the upside resistance. Trade pressures are down. Volumes are still bullish.

Daily  – Long. In the new long trade from 130-23 on 4/20. Trade pressures are rising into the neutral zone. Volumes are now neutral.

The next target up is 131-24. Overbought levels are 133-10. Set SL at 129-03.

The next target down is 128-23. The oversold level is 123-12.

[4-25-23: raise the SL to 131-14.]

[4-26-23: Sell USM23 long at 132-10.]