Author: ChasW

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGK21

Weekly – Still in the June 2020 uptrend. Trade pressures are up. Volumes are bullish.

Daily – Flat. The 4.39 high was close to the 4.40 target . Trade pressures are down. Volumes are now neutral.

The next target down is another test of the 3.98 level.

A close above the 4.10 level would resume the move up.

 

GOLD_ GCM21

Weekly – some short covering after 4 weeks down. Trade pressures are down but rising. Volumes are now neutral.

Daily – Flat. Still in the move up from the 1724 entry. Wait for a bullish daily reversal to re-enter. Trade pressures are up. Volumes are bullish.

The next target up is 1773.

A close below 1721 would signal lower.

[3-25-21: Bullish reversal. Enter buy 1700 stop.]

 

SILVER_ SIK21

Weekly – In the May 2020 uptrend. Trade pressures are up into the neutral zone. Volumes are bearish.

Daily – Flat. In the down move from the 27.43 short entry. Trade pressures are up, but declining. Volumes are bullish.

the target down at 25.75 has been met, now consolidating. The next target down is 24.06.

A close above 26.42 would signal higher.

 

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a retracement down of the recent highs. Gold is testing the downward sloping median line and could rally. Silver could go either way.

Crude oil is at highs and in a small retracement. Natural gas looks lower but could have a relief rally at any point.

The US 30 year Treasury continues lower to the lower 150’s.

The US Dollar futures are having a small retracement rally above 91.

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S&P 500 Futures_

Monthly – Pushing back to the prior highs. Trade pressures are up. Volumes closed the month of February as Bullish. The next target up is 4366. A close below 3491 would confirm any weekly  move lower.

Weekly – Comfortably above the 3926 upside target. Trade pressures are up. Volumes are bullish. The next target up is 4094. A close below 3648 would confirm any daily move lower.

Daily – Long the short signal was voided with price taking out 3881. Trade pressures are up and trending. Volumes are bullish. The next target up is 4035. A close below 3854 would reconfirm a move lower.

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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 were down hard during this week but rallied to approximately $116,000, up 16% for the 2021 YTD.  The portfolio had a brief touch of the $150,000 value in early March. Volatile!

 

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

US$$

#usdollarfutures  #ustreasurybondfutures

USD_ DXM21

Weekly – Move up off the 89 base. The 2018 low is 84.24. Trade pressures are up. Volumes are bearish.

Daily – In the new move up from the 91.33 long entry. Trade pressures are down but rising. Volumes are bullish.

The next target up is 92.89, the 200 day MA.

A close below 90.95 would signal lower.

 

US 30YR T-BONDS_ USM21

Weekly – The long move down started March 2020. Trade pressures are down. Volumes are bearish.

Daily – Flat. In the short trade from the January 167-02 entry. Trade pressures are down. Volumes are bearish.

The next target down is 153-21.

A close above last weeks high of 158-28 would signal a retracement. But long term hard to see any impetus higher until the stimulus wears off and inflation fears die.  Dis-inflation is a FED worry.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM21

Weekly – Consolidating at the 64 level. Trade pressures are up. Volumes are bearish.

Daily – Flat. Still in the  November move up. Trade pressures are up but declining. Volumes are bearish.

The next target up is 68.30.

The close below the 63..5 was  not confirmed by the Trade pressures. Now, a close below 62.67 the prior week’s lows would signal lower.

 

NATGAS_ NGM21

Weekly – The 3.00 double top doesn’t look promising. Trade pressures are down. Volumes re main bearish.

Daily – Flat. In the move down from the 2.92 short entry. Trade pressures are down. Volumes are bearish.

The next target down is 2.45.

Expect resistance here at 2.57, the median line. A  close above 2.72 would signal a retracement move up.

 

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGK21

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

Daily – Flat. In the retracement up after meeting the 3.91 downside target. Trade pressures are up. Volumes are bullish.

In consolidation, the next target up is the new long entry at 4.20.

A close below 3.94 would signal lower.

 

GOLD_ GCJ21

Weekly – In the August 2020 move down. Trade pressures are down but showing some divergence. Volumes are now bullish.

Daily – Long. The Monday last put in a weekly low. Trade pressures are up. Volumes are bearish.

At the new long entry price of 1722 and meeting some resistance.

A close below 1673 would signal lower.

[3-15-21: Long GCM21 at 1724 with a 1700.stop.]

[3-17-21: Moves up with the FED holding rates. Move Stop to breakeven, 1724.]

[3-18-21: Rallied to the 1756 resistance then turned down to stop out at the 1724 breakeven.]

 

SILVER_ SIK21

Weekly – Moving in a channel since July 2020. Trade pressures are down but rising. Volumes are bullish.

Daily – Flat. In the move down from the 27.43 short entry. Trade pressures are up. Volumes are bearish.

The next target down is 24.06.

A close above 26.82 would signal higher.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGK21

Weekly – Still in uptrend. Trade pressures are up. Volumes are bullish.

Daily – Flat. Reached the 3.91 downside target. Trade pressures are down but rising. Volumes are bearish.

The next target down is the 3.78 uptrend support line.

A close above 4.17 would signal higher.

 

GOLD_ GCJ21

Weekly – In the downtrend for three weeks. Trade pressures are down for seven weeks. Volumes remain bearish.

Daily – Flat. At the down trend line. Trade pressures are down and trending. Volumes are bearish.

The next target down is 1634.

A close above 1724 would signal a retracement higher.

 

SILVER_ SIK21

Weekly – Now in the downtrend. Trade pressures are down. Volumes are bearish.

Daily – Flat. In the move down from the 27.43 short entry. Trade pressures are down. Volumes are bearish.

The net target down is 24.06.

A close above 26.84 would signal higher.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper tracking down with the equity markets. Gold down to the downtrend line. Silver looking to test the 200 day MA.

Crude oIl rallied to the uptrend line. Nat gas seeing downward pressures.

The US 30 year Treasury is steadily down mirroring the re-opening trade.

The US Dollar futures are up in a new uptrend.

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S&P 500 Futures_

Monthly – The close remains above the prior month high. Trade pressures are up. Volumes closed the month of February as bullish. The next target up is the 3918 prior target. A close below 3491 would confirm many weekly move lower.

Weekly – Still in the move up from the 3550 November long entry. Trade pressures are up. Volumes are bullish. The next target up is 3926. A close below 3656 would confirm any daily  move lower.

Daily – The short signal remains intact. Trade pressures are down but rising. Volumes are bullish. The next target down is 3725 which was breached but did not close below. The sharp rally Friday may be short covering, but was very strong nonetheless. A close above 3881 would signal higher.

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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 were down hard this week and are now valued at approximately $108,000, up 8% for the 2021 YTD.  The portfolio had a brief touch of the $150,000 value in previous weeks but the tech selloff took back all the gains made in the first two months of the year.

 

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

US$$

#usdollarfutures  #ustreasurybondfutures

USD_ DXM21

Weekly – Moved up sharply off the 89 base to 92. Trade pressures are up. Volumes are bullish.

Daily – In the move up from the 90.28 short cycle entry to the 91.38 long cycle entry. Trade pressures are up. Volumes are bullish.

The next target up is 92.11.

A close below 91.27 would signal lower.

 

US 30YR T-BONDS_ USM21

Weekly – In the Dec 2020 downtrend. Trade pressures are down. Volumes are again bearish.

Daily – Flat. Remains in the long August 2020 downtrend. Trade pressures are down. Volumes are bearish.

The next target down is 153-21.

A close above 158-27 would signal higher.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM21

Weekly – Closed above the 64.23 161% (extended) target. Trade pressures are up. Volumes are bullish.

Daily – Flat. Closed above the 62.96 extended target. Trade pressures are up. Volumes are bullish.

The next target is 65.84.

A close below 63.55 would signal lower.

 

NAT GAS_ NGK21

Weekly – Grinding sideways in the downtrend. Trade pressures are down into the neutral zone.

Daily – Flat. At 2.67, the uptrend support line. Trade pressures are down. Volumes are bearish.

The next target down is 2.62.

A close above 2.81 would signal higher.

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Pressures_

Copper now a short, with the equity markets. Gold in the downtrend. Silver remains in the uptrend.

Crude oil is a short in the OPEC meeting. Natural gas has triggered a short entry.

The US 30 year Treasury bond continues the move down, but shows some short covering.

The US Dollar futures are basing and exhibiting some signs of strength.

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S&P 500 Futures_

Monthly – Overshot the 3918 target and now in a pullback from there. Trade pressures are still up. Volumes closed the month of February as bullish. the next target up is now that 3918 target. A close below 3738 (2008-09 projection) would presage a weekly move lower.

Weekly – Remains in the move up. Trade pressures are up. Volumes closed as bearish for the week. The next target up is 3926. A close below the 3656 short entry would confirm any Daily move lower.

Daily – Short. In the move down from the 3864 short entry. Trade pressures are down. Volumes are bearish. The next target down is 3769, then 3725. A close above 3934 prior high would signal higher. Use this as a short stop level.

[03-01-21: the rally has taken price near resistance. Enter short at the 3924 level. set stop at the prior swing high, 3934.] [03-03-21: [Not executed, cancel this open order.]

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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 were down this week and are now valued at approximately $127,000, up 27% for the 2021 YTD.  The portfolio had a brief touch of the $150,000 value last week. Hindsight.

Docusign (DOCU) will be replaced by Logitech (LOGI) at the Monday opening.

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