Author: ChasW

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

The 10yr yields consolidating below 4.00%. Copper is correcting.  Gold correcting, possible short.  Silver correcting.

Crude now a short.  Natural gas pulls back in the uptrend.

The US 30yr Treasury Bond looking lower.

The US Dollar futures basing at 100.58 target.

_________________

S&P 500 Futures   #ESU24

Monthly –Wide ranging bar remains above the prior month’s close. Trade pressures remain up. Volumes closed the month of July as bullish.  The next target up remains 5958.  A close below 5412 would confirm any weekly move lower. The next target down would be 5067.

Weekly – The weekly close near prior highs.  Trade pressures remain up but are still declining.  Volumes are bullish.  Closed above the new long entry at 5454. The next target up is 5829 (new highs).  A close below 5362 would confirm any daily move lower.

Daily – Flat. Breaks below the rising channel upper band at 5626 on 8/28. Trade pressures are up.  Volumes are bullish.  The next target up is the 5664 resistance; then 5813. The expected overbought level has risen to 5663.  A close below 5527 would signal lower. The expected oversold level rises to 5395.

Waiting for NVDA.

___________________

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 2024 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024.  The portfolio value moves up to $138,000. The Year-to-Date portfolio performance is now up 38%.

[The author may be long or short any of these issues mentioned]

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXU24

Weekly –  8/16/24 In the new August down trend.  Trade pressures remain down. Volumes are now bearish.

Daily – Short. Testing support at 100.58.  Trade pressures are down  Volumes are bearish.

At the 100.58 target. The expected oversold levels decline to 100.01.

A close above 101 would signal higher. The expected overbought level declines to 102.58.

[8-28-24: The 2hr chart has a buy signal, but the daily stays in downtrend. Watch the 10yr.]

 

US30YR T-BOND_ USZ24

Weekly – In a new August 2024 uptrend.  Trade pressures remain up.  Volumes remain bearish.

Daily  – Flat. grinding higher. Lower Highs. Trade pressures are down.  Volumes remain neutral.

Now at 123-26. The next target up is 125-09. Overbought levels are 126-05.

A close below 121-23 would signal lower. Oversold levels are 119-25.

 

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLV24

Weekly – In the March 2024 uptrend and above support. Trade pressures are up. Volumes remain bullish.

Daily – Flat. In the move up from the 76.14 break out of the bull flag on 8/26; but finding immediate resistance at 77.62.   Trade pressures are now up.  Volumes are now bullish.

The next target up is 78.18. The expected overbought levels are lower at 78.06.

A close below 75.71 would signal lower ( Global slowdown? ). The expected oversold level declines to 70.80.

[8-27-24: New Contract, CLV24. Short At 75.71.  Set S:L at 75.98 lower to BE asap]

[8-29-24: SL hit at 75.98. ]

 

NAT GAS_ NGV24

Weekly – In in a new August 2024 downtrend.  Trade pressures remain  down.  Volumes are now bearish.

Daily – Flat.  The long trade at 2.14 was stopped out for a breakeven. Trade pressures are down.  Volumes are bearish.

The next target down is 1.93. The expected oversold level rises to 1.94.

A close above 2.14 would signal higher. The expected overbought level declines to 2.26.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGZ24

Weekly – In the August 2024 downtrend. Trade pressures rise into the neutral zone. Volumes are neutral.

Daily – Flat. In the second leg up from 8/12 at 4.05. Trade pressures are up. Volumes are bullish.

The next target up is 4.36. The expected overbought levels have risen to 4.28.

Support at 4.13, the lower median line parallel. The expected oversold levels rises to 4.06.

 

GOLD_ GCQ24

Weekly – In the December 2023 uptrend.  Trade pressures are up.  Volumes remain bullish.

Daily – Flat. 8/8 in new uptrend from 2450. Lower highs. Trade pressures are down into the neutral zone.  Volumes remain bullish..

The next target up is 2584. The expected overbought level has risen to 2575.

A close below 2541 would signal lower. The expected oversold level has risen to 2478.

[8-28-24: Short from 2541 w SL at 2555] [8-29-24: Stopped out at 2555.]

 

SILVER_ SIZ24

Weekly – Still in the December 2023 uptrend.  Trade pressures are now up.  Volumes are now bullish.

Daily –Flat. Breaks out of the bull flag at 29.93 on 8/23. Looking for a back test around 29.00 for long trade. Trade pressures are up.  Volumes are bullish.

The next target up is 31.99. Overbought levels are 30.63.

A close below 29.37 would signal lower.  Oversold levels are 27.86.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

The 10yr yields hold below 4.00%. Copper correcting.  Gold correcting, possible short.  Silver correcting.

Crude now a short.  Natural gas pulls back in the uptrend.

The US 30yr Treasury Bond attempts rally but fails into the weekly close.

The US Dollar futures are rising near support at 100.58.

_________________

S&P 500 Futures   #ESU24

Monthly –Wide ranging bar to close above the prior month’s close. Trade pressures remain up. Volumes closed the month of July as bullish.  The next target up remains 5958.  A close below 5412 would confirm a weekly move lower. The next target down is 5067.

Weekly – The weekly close moves up sharply off the October median line support.  Trade pressures remain up but are still declining.  Volumes are bullish.  Closed above the new long entry at 5454. The next target up is 5829 (new highs).  A close below 5570, the prior week’s low, would confirm any daily move lower.

Daily – Flat. Breaks below the rising channel lower band at 5603. The next target up is the 5666 trend resistance. Trade pressures are up.  Volumes are bullish.  The expected overbought level has risen to 5663.  A close below 5527 would signal lower. The expected oversold level rises to 5345.

Waiting for NVDA.

___________________

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 2024 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024.  The portfolio value moves up to $139,000. The Year-to-Date portfolio performance is now up 39%.

[The author may be long or short any of these issues mentioned]

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXU24

Weekly –  8/16/24 In the new August down trend.  Trade pressures remain down. Volumes are now bearish.

Daily – Long. Testing support at 102.30.  Trade pressures are down  Volumes are neutral.

The next target up is 103.32. The expected overbought level declines to 103.36.

A close below 102.20 would signal lower. The expected oversold levels rise to 102.16.

[8-21-24: Short from the Monday drop below 102.20.  At 101.11 downside target. ROW currencies are up.]

 

US30YR T-BOND_ USU24

Weekly – In a new August 2024 uptrend.  Trade pressures remain up.  Volumes are now bearish.

Daily  – Flat. grinding higher. Trade pressures are down into the neutral zone.  Volumes remain neutral.

Now at 123-26. Overbought levels are 123-07.

A close below 123-04 would signal lower. Oversold levels are 119-25.

 

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLU24

Weekly – In the March 2024 uptrend and above support. Trade pressures are down. Volumes are now bullish.

Daily – Flat. In the move down from 76.39 on 8/16. Trade pressures are down.  Volumes are now bullish.

The next target down is 73.27. The expected oversold level declines to 71.94.

A close above 76.64 would signal higher. The expected overbought levels are higher at 80.81.

 

NAT GAS_ NGQ24

Weekly – In in a new August 2024 downtrend.  Trade pressures remain  down.  Volumes are now bullish.

Daily – Flat.  The long trade at 2.14 was stopped out for a breakeven. Trade pressures are down.  Volumes are bearish.

The next target down is 2.03. The expected oversold level remains at 1.91.

A close above 2.16 would signal higher. The expected overbought level rises to 2.30.

 

 

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGU24

Weekly – In the August 2024 downtrend. Trade pressures remain down. Volumes remain bearish.

Daily – Flat. In the second leg up from 8/12 at 3.99. Stopped out at 4.03 and missed the breakout on 8/15. Trade pressures are up. Volumes are bullish.

The next target up is 4.29. The expected overbought levels have declined to 4.17.

A close below 3.99 would signal lower. The expected oversold levels remain at 3.91.

 

GOLD_ GCQ24

Weekly – In the December 2023 uptrend.  Trade pressures are up.  Volumes remain bullish.

Daily – Flat. 8/8 in new uptrend from 2450 and have broken the resistance line at 2535..  Trade pressures are up.  Volumes are bullish..

The next target up is 2566. The expected overbought level has risen to 2566.

The next target down is 2514. The expected oversold level has risen to 2440.

 

SILVER_ SIU24

Weekly – Still in the December 2023 uptrend.  Trade pressures remain down but rising.  Volumes remain bearish.

Daily –Flat. Long from 27.28,  on 8/8.  Trade pressures are up.  Volumes are bullish..

The next target up is 29.62. Overbought levels are 30.17.

A close below 28.34 would signal lower.  Oversold levels are 27.39.

 

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

The 10yr yields hold below 4.00%. Looking for Copper to break out above the bull flag.  Gold rallies to the upper median line and is now consolidating.  Silver breaks above the downtrend, but no follow thru.

Crude now a long.  Natural gas signals higher.

The US 30yr Treasury Bond turned lower.

The US Dollar futures rising to test the 200 day MA .

_________________

S&P 500 Futures   #ESU24

Monthly –Drops to a 62% target. Trade pressures remain up. Volumes closed the month of July as bullish.  The next target up remains 5958.  The close below 5393 did confirm the weekly move lower. The next target down is 4804.

Weekly – The weekly close just above the October Median line which is now providing support.  Trade pressures remain up but are declining.  Volumes have changed back to bullish.  Traded down to the 5159 target the rallied sharply. The next target down is still 5159.  A close above 5454 would confirm any daily move higher.

Daily – Flat. At the top of the uptrend channel. Need a pullback to the lower channel to enter a long. The downtrend has been broken, but a back test is likely. Trade pressures remain down.  Volumes remain bearish.  The expected overbought level has declined to 5408.  The next target down is 5229, but the expected oversold level declines to 5108.

Need a close above 5454 to confirm the rally.

[8-8-24: In the move off the 5120 low pivot. Expect a rally to 5491, then a test of the lower channel band at 5229. Make a new long decision there.]

___________________

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 2024 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024.  The portfolio moved up to $128,000. The Year-to-Date portfolio performance is now up 28%.

[The author may be long or short any of these issues mentioned]

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXU24

Weekly –  Remains in the April 2024 uptrend.  Trade pressures remain down. Volumes remain bearish.

Daily – Long. The close above 102.64 has triggered a new long entry on 8/6/24.  Trade pressures are down  Volumes are bearish.

The next target up is 103.64. The expected overbought level declines to 104.13.

A close below 102.70 would signal lower. The expected oversold levels decline to 102.05.

Set the SL at 102.70.

 

US30YR T-BOND_ USU24

Weekly – In a new August 2024 uptrend.  Trade pressures remain up.  Volumes are now bearish.

Daily  – Flat. trade to a high of 126-27 then gives it back near the original long entry. Trade pressures are down.  Volumes are neutral.

Now at 122-29. Overbought levels are 123-07.

A close below 121-17 would signal lower. Oversold levels are 119-17.

[8-11-24: Let this trade get way. Close the position and start over.]