Author: ChasW

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures:

Copper near the next target down. Gold and Silver looking still lower.

Crude oil is still in consolidation. Natural gas has broken above a small bull flag.

The US 30 year Treasury Bond is consolidating near an upside breakout level.

The US Dollar futures are beginning a retracement down.

______________________

S&P 500 Futures_

Monthly – In the move down from the 4252 break Trade pressures are down into the neutral zone. Volumes closed the month of April as Bearish. The next target down is 3695. A close above 4753 would confirm any weekly move higher.

Weekly – The weekly move above 4485 failed. Trade pressures are down. Volumes are bearish. The next target down is the prior low at 4093. A close above 4485 is required to confirm any daily move higher.

Daily – In the down trending  channel. Trade pressures are down. Volumes are bearish. The next target down is the prior low at 4093. A close above 4371 is required to start a new 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 2022 year.

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

This week was down to approximately $77,000. The Year-to-Date portfolio performance is now down 23%.

Cube Smart (CUBE), Extra Space Storage  (EXR), Fortinet (FTNT) and Zim Integrated Shipping (ZIM) will all be replaced by Conoco-Phillips (COP), Devon (DVN), Israel Chemicals (ICL) and Nutrien (NTR) at the open Monday morning.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXM22

Weekly – in the June 2021 uptrend. Trade pressures are up. Volumes remain bullish.

Daily – In the move up to the 104.92 upper channel bound. Trade pressures are up but turning down. Volumes are now bearish.

The next target up is 104.82.

A close below 102.31 would signal a retracement down of this move up.

 

US 30 YR T-BOND_ USM22

Weekly – In the January 2021 downtrend. Trade pressures are down. Volumes are bearish.

Daily – Flat. Consolidating off the 162% downside target of 137-20. Trade pressures are down. Volumes are bearish.

The next target down is the 137-20 target.

A close above 141-06 would signal a new move up.

Oi & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM22

Weekly – In the Feb 2022 uptrend. Trade pressures are in the neutral zone. Volumes are neutral.

Daily – Flat. In the move down from the 107.92 short entry on March 28th. Trade pressures are up but turning down. Volumes are bullish.

The next target down is 93.79.

A close above 107.48 would signal higher.

 

NAT GAS_ NGN22

Weekly – In the June 2021 uptrend. Consolidating after the spike high. Trade pressures are up. Volumes are bullish.

Daily – Flat. In the move down from the 7.41 short entry. Trade pressures are up. Volumes are neutral.

The next target down is 6.26.

The Friday close above the 7.15 level should signal a new move up.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN22

Weekly – Still in the June 2020 up trend, but hard down this past week. Trade pressures are down. Volumes are bearish.

Daily  – Flat. The break down of the the 4.74 short entry set the 4.31 downside target. Trade pressures are down. Volu es are bearish.

The next target down is 4.31.

A close above 4.42 would signal a retracement up of the move down.

 

GOLD_GCM22

Weekly – In the February 2022 Uptrend. Trade pressures are down Volumes are bearish.

Daily – Flat. In the move down from the April 29th short entry at 1958. Trade pressures are down but rising into the neutral zone. Volumes are now neutral.

The next target down is 1814.

A close above 1940 would signal higher.

 

SILVER_ SIN22

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

Daily – Flat. In the  move down from the March 9th short entry at 26.51. Trade pressures are down. Volumes are bearish.

The next target down is prior low of 21.50.

A close above the 24.13 would signal higher.

Navellier Top 5 Stocks for May

The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.

(For this 2022 year, SOM will track the Top 5 Hi-Growth Investments.)

https://navelliergrowth.investorplace.com/

High-Growth Investments

ConocoPhillips
ConocoPhillips (COP) is one of the largest independent exploration and production companies in the world – and we added the stock to the Buy List in the April Monthly Issue. The company does a little bit of everything when it comes to crude oil and natural gas, extracting with hydraulic fracturing, horizontal drilling and offshore drilling, as well as producing and transporting the product.

In fact, ConocoPhillips has an extensive energy portfolio that spans 14 countries. The company transports oil and natural gas around the world through pipelines, as well as tankers, trucks and rail. And at the end of 2021, it had 6.1 billion barrels of oil equivalent in its reserves. As a result, ConocoPhillips benefited immensely from rising crude oil prices in 2021 – and I suspect its upcoming earnings report will reveal the company continued to prosper in the first quarter.

The company will release results on Thursday, May 5. For the first quarter, the current consensus estimate calls for earnings of $2.97 per share, which represents 330.4% year-over-year earnings growth. Analysts have also upped earnings estimates by 38% in the past three months. As you know, positive analyst revisions typically precede future earnings surprises. COP is a Conservative buy below $104.

SOM Technicals:

5-1-22: Closed at 95.52. Trade pressures are up. Volumes are bullish. The next target up is 100.57.

5-6-22: Closed at 107.69. Trade pressures are up. Volumes are bullish. The next target up is 108.75.

5-14-22: Closed at 103.78. Trade pressures are up. Volumes are neutral. The next target up is 104.

5-21-22: Closed at 105.02. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 100.93.

 

Devon Energy Corporation
Devon Energy Corporation (DVN) was also a new addition to the High-Growth Investments Buy List last month. As a leading energy company in the U.S., Devon Energy focuses primarily on discovering and producing oil and natural gas in the Anadarko Basin, the Delaware Basin, Eagle Ford, the Powder River Basin and the Williston Basin.

In particular, the Delaware Basin has been a highly lucrative operation for the company, as it has about 400,000 net acres and horizontal drilling operations for oil and natural gas. Devon Energy recently added 65 new wells to the Delaware Basin, which is expected to boost production and add to the company’s top and bottom lines in the first quarter.

Devon Energy will announce first-quarter results after the stock market closes on Monday, May 2. First-quarter earnings are expected to surge 291.1% year-over-year to $1.76 per share, while revenue is forecast to jump 116.2% year-over-year to $3.81 billion. Analysts have also upped earnings estimates over the past three months, which bodes well for another quarterly earnings surprise. DVN is a Conservative buy below $63.

SOM Technicals:

5-1-22: Closed at 58.17. Trade pressures are up. Volumes are bearish. The next target down is 55.44.

5-6-22: Closed at 69.69. Trade pressures are up. Volumes are bullish. The next target up is 70.97.

5-14-22: Closed at 68.60. Trade pressures are up. Volumes are bullish. The next target up is 69.75.

5-21-22: Closed at 68.92. Trade pressures are down into the neutral zone. Volumes are bullish. The next target up is 73.18.

 

ICL Group Ltd.
ICL Group Ltd. (ICL) is an Israeli company that produces bromine, potash, phosphates and polysulphate, which are vital fertilizers, nutrients and minerals for many agricultural, industrial, horticultural and landscaping businesses. ICL boasts that it’s the number-one producer of bromine worldwide, a top producer of soluble phosphate-based fertilizers and the largest producer of phosphorous-based flame retardants in the West.

The company operates 42 facilities in 13 countries, as well as has 20 research and development centers around the world. We added ICL Group to the Buy List in April as a way to take advantage of the food, agricultural and industrial industries need for fertilizers and other nutrients and minerals from outside of Russia. Robust demand is anticipated to increase its profitability in the first quarter.

ICL Group plans to review results from its first quarter in fiscal year 2022 on May 11. First-quarter earnings are forecast to soar 116.7% year-over-year to $0.13 per share, compared to $0.06 per share in the same quarter a year ago. Analysts’ earnings estimates have also increased by 116.7% in the past three months, so ICL is likely gearing up for a fourth-straight quarterly earnings surprise. ICL is a Moderately Aggressive buy below $12.

SOM Technicals:

5-1-22: Closed at 10.97. Trade pressures are down but turning up. Volumes are bearish. The next target down is 10.61.

5-6-22: Closed at 10.85. Trade pressures are down into the neutral zone. Volumes are now bearish. The next target down is 10.61.

5-13-22: Closed at 11.72. Trade pressures are up. Volumes are bullish. The next target up is 12.00.

5-21-22: Closed at 11.24. Trade pressures are down. Volumes are bearish. The next target down is 10.66.

 

Marathon Oil Corporation
Marathon Oil Corporation (MRO) is making its second-straight appearance on the Top Stocks list after we initially added it to the Buy List in March. The reality is that Marathon Oil continues to benefit in the current environment of high energy prices and robust demand. The company is an energy exploration and production company that operates in Eagle Ford, Bakken, STACK/SCOOP and the Permian Basin.

At the end of 2021, Marathon Oil had proved reserve of 1,106 million barrels of oil equivalent (MMBoe), or a 14% increase over 2020. The company also guided flat year-over-year production of 348,000 barrels of oil equivalent per day for 2022. It will be interesting to see if Marathon Oil ramps up its production target this year to meet rising demand here in the U.S., as well as abroad.

We’ll know more on Wednesday, as Marathon Oil plans to post earnings and revenue from the first quarter after the stock market closes on May 4. The current consensus estimate calls for earnings of $0.92 per share on $1.71 billion in revenue, which represents 338.1% year-over-year earnings growth and 60.9% year-over-year revenue growth. Analysts have upped earnings estimates by 61.4% in the past three months, so a quarterly earnings surprise is likely. MRO is a Conservative buy below $27.

SOM Technicals:

3-26-22: Closed at 26.04. Trade pressures are up. Volumes are bullish. In consolidation. A close below 25.00 would signal lower.

4-2-22: Closed at 25.75. Trade pressures are up inot the neutral zone, Volumes are bullish. The next target up is 26.22, the prior high.

4-10-22: Closed at 25.92. Trade pressures are up. Volumes are bullish. The next target up is 26.40 the prior high.

5-1-22: Closed at 24.92. Trade pressures are up. Volumes are neutral. The next target up is 27.27.

5-6-22: Closed at 28.15. Trade pressures are up. Volumes are bullish. The next target up is 29.00.

5-14-22: Closed at 27.00. Trade pressures are up. Volumes are bullish. The next target up is 27.35.

5-21-22: Closed at 27.26. Trade pressures are down but turning up. Volumes are bullish. The next target up is the 28.44 resistance.

 

 

Nutrien Ltd.
Nutrien Ltd. (NTR) is another fertilizer company that we added to the High-Growth Investments Buy List in the April Monthly Issue. With operations in 13 countries around the world, Nutrien boasts that its products and services are utilized in every major growing region worldwide. The company primarily produces more than 25 million tonnes of potash, phosphate and nitrogen products for its agricultural, feed and industrial customers.

For 2021, Nutrien plans to increase its potash output by nearly one million tonnes this year, which would bring 2022 potash production to about 15 million tonnes. In turn, the company also anticipates that it will achieve adjusted earnings per share between $10.20 and $11.80, which represents 63.7% to 89.4% annual earnings growth.

Given the positive outlook, the analyst community has upped first-quarter earnings estimates by 12% in the past three months. First-quarter earnings are now expected to rise 834.5% year-over-year to $2.71 per share, up from $0.29 per share in the same quarter last year. First-quarter revenue is forecast to come in at $7.62 billion. Nutrien is scheduled to release final first-quarter results after the stock market closes on Monday, May 2. NTR is a Conservative buy below $108.

SOM Technicals:

5-1-22: Closed at 98.25. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target up is 106.70.

5-6-22: Closed at 103.79. Trade pressures are down. Volumes are bullish. The next target down is 100.00

5-14-22: Closed at 98.95. Trade pressures are up. Volumes are bearish. The next target down is 95.00.

5-21-22: Closed at 97.02. Trade pressures are down. Volumes are bearish. The next target down is 91.90.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures:

Copper is in a short trade. Waiting for gold and silver to confirm a move higher.

Crude Oil is in a new leg down. Natural gas continues higher but the curve is too steep.

The US 30 Year Bond is also in a new leg down with a big move higher in the 10yr rates.

The US Dollar futures are higher as capital seeks a haven.

_____________________

S&P 500 Futures_

Monthly – The previous month was up this month seems to be the reversal of that. Trade pressures are up but declining. Volumes closed the month of March as neutral. The next target up is 5018. A close below 4252 would confirm any weekly move lower.

Weekly – The new leg up was triggered at 4485; but no follow thru yet. Trade pressures are rising into the neutral zone. Volumes are now neutral. The next target up is 4767. A close below 4258 would confirm any daily move lower.

Daily – Short in the move down from the 4517 entry on 4/6. Trade pressures are down. Volumes are bearish. The next target down is 4390. A close above 4458 would signal a retracement higher.

[4-14-22:Take profits at the next test of the 4390 target. SL @ 4458] [4389.50 traded just before the close; out at the 4390 profit target.]

____________________

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 was down to approximately $84,000. The Year-to-Date portfolio performance is now down 16%.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXM22

Weekly – In the March 2021 uptrend. Trade pressures are up. Volumes are bullish.

Daily – In the move up from the January long entry at 96.33. Trade pressures are up. Volumes are bullish.

The next target up is 101.92.

A close below 99.38 would signal lower.

 

US 30YR T-BONDS_ USM22

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

Daily – Flat. In a resumption of the move down after failing to move higher. Trade pressures are down. Volumes are bearish.

The next target down is 137-20.

A close above 143-31 would signal a retracement up.

[4-13-22: New long entry at 143-09. SL at 141-06.]

[4-14-22: stopped out at the lows for a loss.]

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM22

Weekly – In the January 2022 uptrend. Trade pressures are down into the neutral zone. Volumes are neutral.

Daily – Short. In the move down from the 106.24 entry price. Trade pressures are down. Volumes are neutral.

The next target down is 90.37.

A close above 95.66 would signal higher.

[4-12-22: Set the stop at 102.30.]

 

NAT GAS_ NGN22

Weekly – In the July 2020 uptrend. Trade pressures are up. Volumes are bullish.

Daily – Flat. In the sharp move up to the 6.60 target. Trade pressures are up and trending. Volumes are bullish.

The next target up is unknown. Price is at the top of the risk range and susceptible to a move down.

A close below 6.65 would signal a retracement.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN22

Weekly – In the July 2020 uptrend. Trade pressures are up. Volumes are bullish.

Daily – Short. In the new move down from the 4.72 short entry on 4/7. Trade pressures are are rising into the neutral zone. Volumes are bearish.

The next target down is 4.57, which is the low end of the risk range. Take profits there.

A close above 4.76 would signal higher.

This trade is a speculative trade against the weekly trade pressures; so tight stops , use 4.76 as the SL.

[4-41-22: Lower the stop to 4.72, the breakeven.]

[4-12-22: Stopped out at breakeven.]

 

GOLD_ GCM22

Weekly – In the May 2021 uptrend. Trade pressures are down into the neutral zone. Volumes are bullish.

Daily – Flat. Still showing lower highs. Trade pressures are up and extended. Volumes are bullish.

The next target down is 1879.

A close above the 1972 prior high would signal higher.

[4-12-22: Long at 1972. Set SL at 1938.]

[4-13-22: Raise stops to breakeven, 1972] [ noon, now at high end of the range. raise stops to 1981.]

 

SILVER_ SIK22

Weekly – In the March 2022 uptrend. Trade pressures are down. Volumes are bullish.

Daily – Flat. In the move down from 26.46 on 3/9. Trade pressures are up. Volumes remain neutral.

The next target down is 23.37.

A close above 25.47 would signal a new move up.

[4-12-22: Long at 25.47. Set the SL at 25.02.]

[4-13-22: Raise stops to breakeven, 25.47.]

[4-14-22: stopped out at a breakeven.]

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures:

Copper is coiling for a move, up or down. Gold and silver both look ready for a second leg down.

Crude oil is already in the second leg down. Natural gas is extending the move up.

US 30 year Treasury bond is in a new move up.

The US Dollar futures are in a retracement that looks to be a bull flag, so watch for a breakout.

____________________

S&P 500 Futures_

Monthly – Still in the uptrend. Trade pressures are up but continuing to decline. Volumes closed the month of March as neutral. The next target up is 5018. A close below 4252 would confirm any weekly move lower.

Weekly – In a new move up from the 4485 new long trigger. Trade pressures are up into the neutral zone. Volumes are bullish. The next target up is 4767. A close below 4201 would confirm any daily move lower.

Daily – In this dramatic March move up. Trade pressures are up but showing some divergence. Volumes are bearish. The next target up is 4693. A close below 4517 would signal lower.

____________________

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 was up to approximately $87,000. The Year-to-Date portfolio performance is now down 13%.

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