Author: ChasW

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ21

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

Daily – Resting the 94.50 highs after a selloff to the support at 93.31. Trade pressures are up. Volumes are bullish.

The next target up is 96.47.

A close below 94.11 would signal lower.

 

US 30YR T-BOND_ USZ21

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

Daily – Long. the break above the 161-24 resistance triggers the long entry. Trade pressures are up. Volumes are bullish.

The next target up is 164-26.

A close below the break-out at 161-24 would signal lower. Use that as the stop.

[11-10-21: stopped out with a break below 161-24. No gain.]

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLZ21

Weekly – In the November 2020 uptrend. Trade pressures are up. Volumes are bearish.

Daily – Flat. In the retracement off the 84.50 highs. Trade pressures are down. Volumes are bearish.

The Close below 81.73 has signaled lower. No trade as the weekly remains bullish. The next target down is 78.05.

A close above 84.36 would signal higher.

 

NAT GAS_ NGZ21

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

Daily – Flat. The retracement form the 6.64 highs has resolved into a wide channel. Trade pressures are down. Volumes are now bearish.

The next target down is 5.29.

A lose above 5.67 would signal higher.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGZ21

Weekly – In the June 2020 uptrend. Trade pressures are down. Volumes are neutral.

Daily – Flat. Stopped out at the 4.33 break. Trade pressures are down. volumes are bearish.

The next target down is 4.27; at the 200 day MA.

A close above 4.47 is need to signal long again.

 

GOLD_ GCZ21

Weekly – In the May 2021 uptrend. Trade pressures are up. Volumes are bullish. The 1727 resistance has held for 5 months.

Daily – Long. Traded above the 200 day at 1796. Trade pressures are up. Volumes are bullish.

The  next target up is 1819. The close above 1810 has triggered the long. Look for a back-test near the 200 day MA at 1796 to enter.

A close below the 25×5 is the stop at 1781.

 

SILVER_ SIZ21

Weekly – In the August 2021 downtrend. Trade pressures are up but rolling over. Volumes are bullish.

Daily – Long. The prior trade was stopped out at 23.38.  Trade pressures are up. Volumes are bullish.

Now a new long entry at 23.92. The next target up is 24.80.

A close below the 25×5 MA at 23.564 is the stop and would signal lower.

[11-07-21: Sun nite session. Raise the stop to the breakeven at 23.92.]

[11-12-21: At the 200 day MA resistance. Sell at 25.30.]

 

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures:

Copper is retracing the early October move up. Gold can’t get moving even in the face of inflation. Silver has moved to  the 62% target and is retracing.

Crude oil is starting a retracement. Natural gas is in a downward channel.

The US 30 Year Treasury is testing the upside resistance.

The US Dollar futures are also testing upside resistance.

________________________

S&P 500 Futures_

Monthly – Now at the 20 year regression channel upper bound. Trade pressures are up. The October volumes closed as bullish. The next target up is 5018. A close below 4047 would confirm any weekly move lower.

Weekly – In the November 2020 move up from 3524. Trade pressures are up. Volumes are bullish. T the 4599 target. The next target up is 5468. A close below 4317 would confirm any daily move lower.

Daily – The upward channel has not yet formed. A touch at 4633 would confirm. Trade pressures are up. Volumes are bullish. The next target up 4604, very close, and would signal a new leg up. A close below 4520 would signal lower. 15 min VIX is down to the channel lows; expect consolidation or retracement.

____________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2021 year. This portfolio has been marked to the market and restarted at $100,000 for the 2021 year.

The portfolio stocks gained $10.000 over the last week leaving to approximately $140,000, up 40% for the 2021 YTD.  The portfolio had a brief touch of the $150,000 value in early March 2021, then a low of $100,000 a few weeks later, and rose once again above 50% in early September. October earnings reports seem to provide some relief.

BioNTech (BNTX) and Johnson Controls (JCI) will be replaced by Crocs, Inc. (CROX) and EPAM Systems (EPAM) on Monday morning at the open.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ21

Weekly – In the March 2021 uptrend. Trade pressures are down. Volumes re now neutral.

Daily – Price is now at the upper bound of the 2021 channel between 90 and 94. Trade pressures are uo. Volumes are bullish.

The next target up is 84.47.

A close below 93.71 would drop below the 25×5 MA, A close below 93.25 would signal lower.

 

US 30YR T-BOND_ USZ21

Weekly – In the July 2021 uptrend. Trade pressures are rising into the neutral zone. Volumes are now bullish.

Daily – Flat. Price near the 161-24 resistance. then next target up is 164-26. Trade pressures are up and extended. Volumes are bullish.

A close below the 200 day MA at 159-24 would signal lower.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLZ21

Weekly – In the November 2020 up trend. Trade pressures are up. volumes remain bullish.

Daily – Flat. In the move down from the 85.40 high. Trade pressures are down. Volumes are bullish.

The next target down is 78.05. Need a confirmation of a close below the 8058 low and the volume change.

A close above 84.21 would resume the move up.

 

NAT GAS_ HGZ21

Weekly – In the June 2021 uptrend. Trade pressures are down into the neutral zone. Volumes are bearish.

Daily – Flat. Lower lows and lower highs. Trade pressures are down. Volumes are bearish.

The next target down is 5.26.

A close above 5.99 would signal higher.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGZ21

Weekly – In the June 2020 uptrend. Trade pressures are down. Volumes are neutral,

Daily – Long, in the move up from the 4.27 entry on 10/11. Trade pressures are down. Volumes are bearish.

The next target down is the 200 day MA at 4.25.  Set the stop at Fridays low of 4.33.

A close above 4.52 would signal higher.

 

GOLD_ GCZ21

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

Daily – Flat. Had the close above 1800 but immediately reversed. Trade pressures are down. Volumes are bearish.

The next target down is the 1771 25×5 MA.

A close above 1810 is now the breakout trade trigger.

 

SILVER_ SIZ21

Weekly – In the August 2021 downtrend. Trade pressures are up. Volumes are bullish.

Daily – Long. In the move up from the 23.38 trigger on 10-18. Trade pressures are down. Volumes are bearish.

The next target down is 23.13.  Set the stop at the breakeven , 23.38.

Need a close above 24.42 to get the second leg up started.

Navellier Top 5 Stocks for November

The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.
(For this 2021 year, SOM will track only the Top 5 Hi-Growth Investments.)

https://navelliergrowth.investorplace.com/

High-Growth Investments

Crocs, Inc.

Crocs, Inc. (CROX) developed the “foot massaging” shoe back in 2002, and since then, the company’s product line has exploded. The company offers a line of casual shoes for men, women and children that range from the Crocs’ well-known clog to flip flops, wedges, work flats, slip-ons, rain boots, sandals, slides, loafers, Mary Janes and even sneakers.

We originally added the stock to the High-Growth Investments Buy List in the October Monthly Issue, as the company was gearing up for a blowout quarterly report. Well, last week, Crocs did not disappoint.

Third-quarter revenue jumped 73% year-over-year to $625.9 million, which was a new record and topped estimates for $610.01 million. Adjusted third-quarter earnings surged 162.8% year-over-year to $2.47 per share, compared to $0.94 per share in the third quarter of 2020. Analysts were expecting adjusted earnings of $1.88 per share, so Crocs beat estimates by 31.4%.

Looking forward, Crocs anticipates that demand will remain strong and that it will achieve more than 60% revenue growth for its fiscal year. For full-year 2021, Crocs expects revenue to grow between 62% and 65%. Thanks to the positive outlook, the analyst community has upped fourth-quarter and full-year earnings estimates over the past week. CROX is a Conservative buy below $172.

SOM Technicals:

10-30-21: Closed at 162.00 Trade pressures are down but rising into the neutral zone. Volumes are now neutral. The next target up is 175.12.

11-06-21: Closed at 180.17. Trade pressures are up. Volumes are bullish. the next target up is 197.37.

11-12-21: Closed at 180.57. Trade pressures are down into the neutral zone. Volumes are bullish. A close below 173.34 signals lower.

11-19-21: Closed at 175.50. Trade pressures are down. Volumes are now bearish. The next target down is 165.06

 

EPAM Systems, Inc.

EPAM Systems, Inc. (EPAM) is a software engineering services company, with operations in more than 35 countries. EPAM Systems primarily helps business adapt, grow more agile and faster, and stay competitive amidst a constantly evolving digital world. The company offers consultants and data expertise, designers to customize and develop digital experiences, engineers to construct software platforms, next-generation software solutions and process optimization solutions.

The global COVID-19 pandemic accelerated digital transformation—and, in turn, EPAM Systems business boomed. In fact, EPAM Systems anticipates full-year revenue growth of about 37%. Full-year earnings per share are forecast to be between $8.25 and $8.44, up from $6.34 per share in 2020. And given the strong outlook, analysts have increased earnings estimates over the past three months.

EPAM Systems will post third-quarter results on Thursday, November 4, before the stock market opens. The current consensus estimate calls for earnings of $2.22 per share, or 34.5% year-over-year earnings growth, and for revenue of $964.12 million. EPAM is a Conservative buy below $723.

SOM Technicals:

10-30-21: Closed at 673.24. Trade pressures are up. Volumes are bullish. The next target up is 700.

11-06-21: Closed at 705.06. Trade pressures are up. Volumes are neutral. The next target up is 723.53.

11-13-21: Closed at 671.36. Trade pressures are down. Volumes are bearish.  The next target down is 628.76.

11-19-21: Closed at 663.64. Trade pressures are down but rising. Volumes remain bearish. The next target down is 628.75.

 

Extra Space Storage, Inc.

Extra Space Storage, Inc. (EXR) has earned a spot on the Top 5 Stocks list every month since we added the stock to the High-Growth Investments Buy List in August. The reality is the real estate investment trust (REIT) continues to offer a healthy blend of growth and income. EXR earns an A-rating in Portfolio Grader and a B-rating in Dividend Grader.

Extra Space Storage is the second-biggest operator of self-storage units in the U.S., providing traditional storage units and non-traditional storage options for boats and RVs. The REIT’s business has boomed amidst the pandemic, as folks purchased boats and RVs and needed a place to store them. Others turned to Extra Space Storage for the self-storage units, whether it was for short-term storage between new homes or freeing up space in their current homes while they were “nesting.”

On Wednesday afternoon, Extra Space Storage released stunning results for its third quarter, thanks to “record-setting occupancy and exceptionally strong rental rates.” The REIT reported that same-store occupancy was 96.7% at the end of the quarter, up from 95.8% in the same quarter a year ago. Same-store revenue also rose 18.4% year-over-year.

Third-quarter earnings jumped 59.1% year-over-year to $1.40 per share, up from $0.88 per share in the same quarter last year. Analysts were expecting earnings of $1.22 per share, so Extra Space Storage topped estimates by 14.8%.

The REIT also noted that its core funds from operations (FFO) increased 41% year-over-year to $1.85 per share, compared to $1.31 per share in the third quarter of 2020. Looking forward, Extra Space Storage expects full-year 2021 core FFO per share to be between $6.75 and $6.85.

I should also add that Extra Space Storage has paid a dividend for 47-straight quarters. Most recently, the REIT paid a third-quarter dividend of $1.25 per share. The stock has a 2.6% dividend yield. EXR remains a Conservative buy below $210.

SOM Technicals:

08-26-21: Closed at 183.46. Trade pressures are up. Volumes are bullish. The next target up is 210.40, but at resistance here.

09-04-21: Closed at 193.71. Trade pressures are up. Volumes are bullish. Next target up is 200.32.

09-11-21: Closed at 187.05. Trade pressures are down. Volumes are bearish. The next target down is 181.91.

09-18-21: Closed at 180.12. Trade pressures are down. Volumes are bearish. The next target down is 174.02.

09-26-21: Closed at 172.61. Trade pressures are down. Volumes are bearish. The next target down is 166.05.

10-02-21: Closed at 168.94. Trade pressure are down. Volumes are bearish. At the prior low support, 168.65.

10-09-21: Closed at 171.12. Trade pressures are up. Volumes are bullish. Need a close above the 25×5 MA at 178.29.

10-23-21: Closed at 185.93. Trade pressures are up. Volumes are bullish. The next target up is 188.00.

10-30-21: Closed at 197.37. Trade pressures are up. Volumes are bullish. The next target up is 200.82.

11-06-21: Closed at 194.71. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 189.64.

11-13-21: Closed at 187.96. Trade pressures are rising up out of the neutral zone. Volumes are bearish. The next target up is the prior high at 203.99.

11-19-21; Closed at 202.09. Trade pressures are up. Volumes are now bearish. 197.58 starts a new move down.

 

Quanta Services, Inc.

Quanta Services, Inc. (PWR) provides specialty contractor services and infrastructure solutions to a variety of industries, including energy, communications, pipeline, renewable energy and utility. We added the stock to the High-Growth Investments Buy List back in June because it is uniquely positioned to benefit from the shift to 5G.

In fact, Quanta Services reported that it experienced strong demand for its services and solutions as communications providers upgraded, modernized and prepared for 5G network deployment. At the end of the second quarter, the company had a backlog of $17.0 billion. The strength of its business carried over into the third quarter—and is expected to remain robust for the rest of 2021 and beyond.

Quanta Services is scheduled to announce results for its third quarter before the stock market opens on Thursday, November 4. The current consensus estimate calls for earnings of $1.45 per share on $3.43 billion in revenue, up from earnings of $1.40 per share and revenue of $3.02 billion in the same quarter a year ago. Analysts have upped earnings estimates over the past three months, and as you know, positive analyst revisions typically precede future earnings surprises. PWR is a Conservative buy below $130.

SOM Technicals:

09-26-21: Closed at 117.29. Trade pressures are up. Volumes are bullish. The next target up is the prior high of 119.70.

10-02-21: Closed at 116.67. Trade pressures are up into the neutral zone. Volumes are bullish. The next target up is the 119.70 prior high.

10-09-21: Closed at 112.77. Trade pressures are down but rising. Volumes are neutral. The next target down is 103.14.

10-23-21: Closed at 118.06. Trade pressures are up. Volumes are bullish. The next target u is 130, the upper median line.

10-30-21: Closed at 121.28. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 117.38.

11-06-21: Closed at 117.42. Trade pressures are down but rising. Volumes are now bullish. The next target down is 115.45.

11-13-21: Closed at 116.38. Trade pressures are down. Volumes are now bullish. The next target up is the 120 resistance.

11-19-21: Closed at 121.06. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 124.69.

 

Tempur Sealy International

Tempur Sealy International (TPX) is a leading manufacturer of mattresses and bedding products in the U.S. and internationally, as its products are sold in more than 100 countries around the world. Tempur Sealy International offers many well-known brands like Tempur, Tempur-Pedic, Cocoon by Sealy, Sealy and Stearns & Foster. As a result, its business has been booming: In 2020, the company’s total sales climbed 18.4% year-over-year to $3.68 billion.

The strong demand for its products has continued in fiscal year 2021, despite supply constraints and port bottlenecks. In fact, on Thursday, Tempur Sealy International posted its fifth-straight quarterly earnings surprise.

Third-quarter adjusted earnings rose 18.9% year-over-year to $0.88 per share, up from $0.74 per share in the same quarter a year ago. Revenue increased 20% year-over-year to $1.36 billion, compared to $1.13 billion in the third quarter of 2020. Analysts were expecting adjusted earnings of $0.84 per share on $1.34 billion in revenue.

Given the strength of its business year-to-date despite supply constraints, Tempur Sealy now expects full-year 2021 revenue to grow more than 35% year-over-year. Adjusted earnings per share are forecast to be between $3.20 and $3.30, which compares to earnings of $1.91 per share in fiscal year 2020.

Tempur Sealy also announced that it will pay a fourth-quarter dividend of $0.09 per share on November 23. All shareholders of record on November 11 will receive the dividend. The stock has a 0.8% dividend yield. TPX is a Conservative buy below $48.

09-26-21: Closed at 49.37. Trade pressures are up. volumes are bullish. The next target up is the prior high at 50.51.

10-02-21: Closed at 46.53. Trade pressures are down. Volumes are bearish. The next target down is 45.04.

10-09-21: Closed at 44.99. Trade pressures are up into the neutral zone. Volumes are bearish. The next target down is 41.66.

10-23-21: Closed at 47.92. Trade pressures are up. Volumes are bullish. The next target up is the prior high, 50.61.

10-30-21: Closed at 44.47. Trade pressures are down. Volumes are now neutral. The next target down is 41.66.

11-06-21: Closed at 45.08. Trade pressures are up. Volumes are bearish. The next target down is 41.86.

11-13-21: Closed at 44.83. Trade pressures are up into the neutral zone. Volumes are now neutral. the next target up is 47.16.

11-19-21: Closed at 43.98. Trade pressures are down. Volumes are bearish. The next target down is the 200 day MA at 40.73.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures:

Copper is retracing the move up off the 4.27 breakout. Gold and Silver are ready for a new move up.

Crude oil is testing resistance, could expect profit taking. Natural Gas is in a new long trade.

The US 30 Year Treasury is moving up to test resistance.

The US Dollar futures are in a move down.

_____________________

S&P 500 Futures_

Monthly – Another new high. Trade pressures are up. Volumes close the month of September as bearish. The next target up is 5027. A close below 3995 would confirm any weekly move lower.

Weekly – Still in the move up from the November 2020 3524 long entry. Trade pressures are down near the neutral zone. Volumes are now bullish. The next target up is 4599. A close below 4265 would confirm any Daily move lower.

Daily – Flat. In the move up. Trade pressures are up and trending. Volumes remain bullish. The next target up is 4604 – a new high. A close below 4498 would signal lower. Earnings began well and a swell of reports are due in these next two weeks. The market moved up into the beginning of the reporting and seems to like the results so far. the Nasdaq is lagging.

____________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2021 year. This portfolio has been marked to the market and restarted at $100,000 for the 2021 year.

The portfolio stocks gained $10.000 over the last two weeks leaving a total value at approximately $139,000, up 39% for the 2021 YTD.  The portfolio had a brief touch of the $150,000 value in early March 2021, then a low of $100,000 a few weeks later, and rose once again above 50% in early September. October earnings reports seem to provide some relief.

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

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ21

Weekly – Sharp move down is recovered. Trade pressures are now down. Volumes are bullish.

Daily – In the new move down from the 93.58 short entry on 10/20. Trade pressures are down. Volumes are bearish.

The next target down is 92.59.

A close above 93.90 would signal higher.

 

US 30YR T-BOND_ USZ21

Weekly – Still in the July 2021 uptrend, but testing support. Trade pressures are down. Volumes are bearish.

Daily – Flat. In the down trend from 9/07. Trade pressures are down but rising. Volumes are bullish.

The next target down is 156-16.

A close above 160-31 would signal higher. [Would look for a re-short at the 160-22, but with a stop at the 160-31.]