Author: ChasW

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM23

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

Daily –Short. In the move down from 78.01 on 4-20. Trade pressures are down. Volumes are bearish.

The next target down is 74.17. The oversold level is 76.39.

A close above 80.00 would signal higher. Set SL at 80.00.

[4-23-23: Lower SL to 78.39.]

[4-24-23: Stopped out overnight.]

 

NAT GAS_ NGN23 (July Contract)

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

Daily – Long. In a new move up from the 2.46 long entry on 4-14 . Trade pressures are down but rising. Volumes remain bullish.

The next target up is 2.86. Overbought level is 2.39.

Downside support at the prior low of 2.38.  The expected oversold level is 1.94.

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

 

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN23   (rollover to july contract)

Weekly – In the November 2022 uptrend. Trade pressures are turning from the neutral zone. Volumes are now bearish.

Daily – Flat. At the 3.98 downside target and May contract is at rollover. Trade pressures are down. Volumes are bearish.

Sell the May contract.

The next July contract target down is 3.86. Oversold levels are 3.92.

A close above 4.04 would signal higher. The expected oversold levels are 4.12.

[4-24-23: Sold Covered at the 3.96 daily low. Missed the 4/25 crash) ]

 

GOLD_ GCM23

Weekly – In the December 2022 uptrend. Trade pressures are up but rolling over. Volumes are now neutral.

Daily – Flat. Had tested the 1981 support level, then stopped out at the BE, 2022. Trade pressures are down into the neutral zone. Volumes are bearish.

The next target down is 1961 and the expected oversold levels are 1989.

A close above 2005 would signal higher. The next overbought levels are 2053.

 

SILVER_ SIK23

Weekly – Now in the new April 2023 uptrend. Trade pressures are up. Volumes are bearish.

Daily – Flat. Very near a new short entry at 24.99. Trade pressures are down. Volumes are remain bearish.

The next target down is 23.75. Oversold levels are at 21.27.

A close above 25.53. The overbought levels are 23.75.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is short.  Gold is a short. Silver is extended.

The Crude is meeting resistance. Natural gas July contract going into the teens long and rising into the 2.70’s. Tight stops.

The US 30yr Treasury Bond June contract now a short but with a new long nearby.

The US Dollar futures are down but also near a new long entry.

_________________

S&P 500 Futures (June contract)

Monthly – Now testing the February 2022 downtrend resistance. 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 reversal to a long at 3998 continues the march higher. Trade pressures are up into the neutral zone. Volumes are bullish. The next target up is 4256. A close below lower median line at 4103 would confirm any daily move lower.

Daily – Flat. In the move up from 3944 on 3/17. Trade pressures remain up. Volumes are bullish. The next target up is 4259. Overbought is 4169. A close below 4082 would signal lower. Oversold is 4001. Still looking for a pullback to near the 4000 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 stayed above the 4100 level. Portfolio values moved up nicely to above $111,000. The Year-to-Date portfolio performance is up 11%.

[4-03-23: Quanta Services (PWR was replaced by Genuine Parts Company (GPC).]

[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 down . Volumes are now bullish.

The next target down is 98.61. Oversold is now 100.61.

A close above 102.27 would signal higher. The expected overbought levels are 102.90.

[4-17-23: The dollar is mid range. Buy any pull back below 101.50.]

 

US30YR T-BOND_ USM23

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

Daily  – Short. Broke above the 200DMA and now in a back-test triggering the short entry at 131-18. Trade pressures are down. Volumes are now bearish.

The next target down is 128-23. Oversold  is 122-31.

The close above 131-28 would signal higher. The expected overbought level is 135-05.

[4-17-23: looking for a reversal to long. Set the close out of the short and the new long entry at 130-22.]

[4-20-23: Out of short trade at 130-23.  Long USM23 at 130-23. Set SL at 129-09.]

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM23

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

Daily –Flat. In the move up from 73.10 on 3/29. Trade pressures are up. Volumes are bullish.

The next target up is 88.56. The overbought level is 82.95 and price has exceeded that level.
[4-17-23: overbought levels at 83.36 are rising, wait to short till the overbought turns down.]

A close below 78.78 would signal lower. The expected oversold level is 75.76.

[4-20-23: Short at 78.01. Set SL at 80.00.]

 

NAT GAS_ NGN23 (July Contract)

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

Daily – Long. In a new move up from the 2.46 long entry on 4-14 . Trade pressures are down but rising. Volumes are now bullish.

The next target up is 2.65. Overbought level is 2.26.

Downside support is gone. The prior low is 2.38. The expected oversold level is 1.97.

This is a counter trend trade so be cautious. Tight stops for this widow-maker, move up to BE as soon as possible.

[4-17-23: Trade now at 2.73. Raise SL to BE at 2.46.]

 

 

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGK23

Weekly – In the November 2022 uptrend. Trade pressures are rising into the neutral zone. Volumes are bullish.

Daily – Short. At the 4.14 and meeting resistance. Trade pressures are up and trending. Volumes are now bearish.

The next target up is 4.37. Overbought is expected at 4.14.

The close below 4.14 has signaled lower.  Oversold levels will be near 3.92.

[4-17-23: Set the SL at 4.11.]

[4-20-23: Set profit stop at 3.92.]

 

 

GOLD_ GCM23

Weekly – In the December 2022 uptrend. Trade pressures are up. Volumes remain bullish.

Daily – Short, now at the 2064 overbought levels and the short entry at 2022 has been triggered. Trade pressures are in the neutral zone. Volumes are bearish.

The next target down is 1981 and the expected oversold levels are 1979.

A close above 2041 would signal higher. The next overbought levels are 2064.

{4-17-23: Set SL at the 2022 BE.]

[4-18-23: Stopped out at BE.]

 

SILVER_ SIK23

Weekly – Now in the new April 2023 uptrend. Trade pressures are up. Volumes are bearish.

Daily – Flat. A new short entry is nearby at 25.06. Trade pressures remain up. Volumes are now bearish.

The next target up is 27.14. Overbought levels are at 26.30.

A close below 25.06 will signal lower. The oversold levels are 21.75.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

Copper is consolidating at the 4.09 target.  Gold is approaching at overbought levels. Silver at 24 resistance.

The Crude is at upside targets. Natural gas July contract has fallen thru support.

The US 30yr Treasury Bond June contract remains a long but still in consolidation.

The US Dollar futures are now at support, but could fall farther from here.

_________________

S&P 500 Futures (June contract)

Monthly – Five months of neutral volumes suggest accumulation. Trade pressures are rising but still in 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 has reversed to a long after closing above the 3998 long entry. Trade pressures are now down. Volumes are now bullish. The next target up is 4256. A close below the 3939 weekly low would confirm any daily move lower.

Daily – Flat. The new long trade signaled at the 3944 level on 3/17 remains in place. Trade pressures are up five day in this week. Volumes are bullish. The next target up is 4259. Overbought is 4063. A close below the lower median line at 4085 would signal lower. Oversold is 3890.
Looking for a pullback to near the 4000 level after this quarter end.

___________________

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 up above the 4100 level. Portfolio values moved up nicely to above $109,000. The Year-to-Date portfolio performance is up 9%.

[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 have turned down. Volumes are bearish.

Daily – Flat. Now consolidating within the move down from the 102.04 short entry on 3-22. Trade pressures are down but rising. Volumes are now bearish.

The next target down is 98.61. Oversold is now 101.80.

a close above 102.46 would signal higher. The expected overbought levels are 104.01.

 

US30YR T-BOND_ USM23

Weekly – In the October 2020 downtrend. Trade pressures are now up. Volumes are bullish.

Daily  – Flat. Consolidating at the 132.09 target which is also the 200 DMA. Trade pressures are up. Volumes are now neutral.

The next target up is 138-06. Overbought is still at 133-18.

The close below 127-16 would signal lower with a 123-22 oversold level.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM23

Weekly – In the September 2022 downtrend. Trade pressures have risen into the neutral zone. Volumes are now neutral.

Daily –Flat. In the move up from 67.42. Trade pressures are up. Volumes are bullish.

The next target up is 76.63. The expected overbought level is 74.90.

A close below 73.29 would signal lower. The oversold level is 66.86.

[3-31-23: Immediately stopped out of the 75.18 short trade for a loss. Quarter ending trades all bullish. Try again higher this nest week.]

 

NAT GAS_ NGN23

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

Daily – Flat. Broke the 2.83 support . Trade pressures are down but rising. Volumes are now bullish.

Downside support is gone. The expected oversold level is 2.01.

A close above 2.73 would signal higher. The next target up is 2.86. Overbought is at 2.48.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGK23

Weekly – In the November 2022 uptrend. Trade pressures are rising into the neutral zone. Volumes are bullish.

Daily – Flat. At the 4.09 new long entry. Trade pressures are down into the neutral zone. Volumes remain bullish.

The next target up is 4.37. Overbought is expected at 4.15.

A close below 4.03 would signal lower.  Oversold levels will be near 3.88.

 

 

GOLD_ GCM23

Weekly – In the December 2022 uptrend. Trade pressures are up. Volumes remain bullish.

Daily – Flat, now at the upper median line resistance. Trade pressures remain up. Volumes are bullish..

The next target up is the recent high pivot at 2005 and the overbought levels is now 2015.

A close below 1949 would signal lower. Oversold target is 1927.

 

 

SILVER_ SIK23

Weekly – Testing the resistance of the February 2023 downtrend. Trade pressures are up. Volumes are bullish.

Daily – Flat. A new long entry was triggered at 23.05, but a tight stop was triggered for an immediate loss. Trade pressures remain up. Volumes are bullish.

Touched the 23.54 target, pulled back then move up in another leg higher towards the 24.39 target. Now above the overbought level at 23.24.

A close below 23.31 would signal lower. The expected oversold level is 21.98..