#emini #spfutures #SP500 #ES

Market Pressures_

Copper continues the move up. Gold is holding the 1848 support. Silver is looking a bit stronger.

Crude oil has broken out to the upside. Natural gas is still probing it lows.

The US 30 Year Treasury is testing the 200 day MA resistance.

The US Dollar futures are retesting the early November lows.

________________________

S&P 500 Futures_

Monthly – A 420 point range low to high so far this November. Trade pressures are up. Volumes closed the month of October as bullish. The next target up is 3948. A close below 3243 would confirm any weekly move lower.

Weekly – The close above 3559 has signaled a new move up. But the move up is at resistance. Trade pressures are down into the neutral zone. Volumes are bearish. The next target up is the prior high of 3668. A close below 3364 would confirm any daily move lower.

Daily – Flat. In the move up from the 3533 new long entry, but also at resistance. Trade pressures are down. Volumes are bearish. The next target up is the prior high of 3668. The next target down is the up trend support at 3463. A break of the Friday lows would signal a test of that support and a subsequent test of the lower channel boundary at 3279. Then higher from there?

A volatile week in store, it appears. A break above the prior high negates the bear thesis.

________________________

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 2020 year.

The portfolio stocks were flat for the week and remain valued at approximately $109,000, up 9% for the YTD. This move up has absorbed the March-April 2020 down move of 32%.

Logitech (LOGI) will be replaced with JD.com (JD), the Chinese online retailer, on the Monday open.

 

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

The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.
(For this 2020 year, SOM will track only the Top 5 Hi-Growth Investments.)

https://navelliergrowth.investorplace.com/

Navellier says,

High-Growth Investments

DocuSign, Inc.

DocuSign, Inc. (DOCU) continues to benefit from the work-from-home trend, as the company offers digital document signing. The company has a cloud-based platform that enables businesses and individuals to develop, upload, sign and send agreements and documents virtually. With DocuSign’s platform, there’s no need for putting pen to paper or meeting in person to sign documents anymore.

Many businesses have utilized DocuSign’s eSignature technology throughout the pandemic: It has 100s of millions of users globally and more than 745,000 paying customers. And its clients include 18 of the top 20 global pharmaceutical companies, 10 of the top 15 global financial services companies and seven of the top 10 global technology companies.

So, it’s not too surprising that the analyst community is expecting solid third-quarter results. Third-quarter earnings are forecast to increase 18.2% year-over-year to $0.13 per share, while revenue is expected to jump 44.8% year-over-year to $361.19 million. Analysts have upped earnings forecasts over the past three months, and DocuSign has posted an average 134% earnings surprise in the past four quarters. Another earnings surprise is likely.

DocuSign will release results for its third quarter in fiscal year 2021 after the stock market closes on December 3. DOCU is a Moderately Aggressive buy below $247.

SOM Technicals:

6-26-20: Closed at 177.58. Trade pressures are up. Volumes are bullish. This spike up is not likely to continue in the face of the sell off.

7-4-20: Closed at 190.99. Trade pressures are up. Volumes are bullish. This parabolic move is very uncomfortable.

7-10-20: Closed at 210.11. Trade pressures are up but reversing. A close below 210 would signal lower.

7-18-20: Closed at 196.42. Trade pressures are down but rising. Volumes are neutral. The next target up is 217.

7-24-20: Closed at 190.95. Trade pressures are down. Volumes are bearish. The next target down is 172.23.

7-30-20: Closed at 217.45. Trade pressures are up. Volumes are bullish. The next target up is 257.20.

8-7-20: Closed at 205.00. Trade pressures are down. Volumes are bearish. Dropped thru two downside targets this week. The next target down is 185.06.

8-15-20: Closed at 199.71. Trade pressures are neutral. Volumes are neutral also. Traded down near the 185.06 target and now has moved higher. At the 25×5 MA and looks lower. The next target don is the 185.91 Target.

8-21-20: Closed at 210.18. Trade pressures are up but showing reversal. Volumes are bullish. The next target up is 221.00.

8-29-20: Closed at 215.24. Trade pressures are up. Volumes are bearish. resistance here at the 217.23 level, which is also the new long entry.

9-5-20: Closed at 216.26: Trade pressures are down. Volumes are bearish. Sitting on the 25×5 MA support at 216.

9-12-20: Closed at 197.94. Trade pressures are down. Volumes are bearish. A close below 196.53 triggers a new short entry.

9-19-20: Closed at 194.42. Trade pressures are down. Volumes are neutral. The next target down is 173.35.

9-26-20: Closed at 212.36. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 173.35.

10-11-20: Closed at 225.80. Trade pressures are down into the neutral zone. Volumes are bullish. A close above 240 would signal higher.

10-17-20: Closed at 234.60. Trade pressure are up. Volume are bullish. The next target up is 300.00.

10-24-20: Closed at 219.82. Trade pressures are down but reversing. Volumes are bearish. The next target down is 195.29.

10-30-20: Closed at 202.25. Trade pressures are down. Volumes are bearish. the next target down is 195.29.

11-07-20: Closed at 231.69. Trade pressures are up but reversing. Volumes are bearish. Resistance at 246 held. the next raget down is the 195 prior target.

11-14-20: Closed at 205.70. Trade pressures are now up but reversing again. Volumes are bearish. The 195 level was touched then rallied to the close.

11-20-20: Closed at 221.59. Trade pressures are up. Volumes are bullish.  The next target up is 241.70.

11-29-20: Closed at 226.87. Trade pressures are up. Volumes are bullish. The next target up is 241.70.

12-05-20: Closed at 243.22. Trade pressures are up. Volumes are neutral. The next target up is 298.04.

12-11-20: Closed at 225.49. Trade pressures are down into the neutral zone. Volumes are neutral. the next target down is 203.56.

 

JD.com, Inc.

JD.com, Inc. (JD) is the largest e-commerce platform in China and the biggest overall retailer in the country. In fact, JD has more than 700 warehouses throughout China and its fulfillment network reaches 99% of the entire Chinese population. Clearly, JD is directly in line to prosper from the shift to more online shopping amidst the global pandemic and China’s recent economic recovery—and that was apparent in the company’s recent earnings report.

During the third quarter, JD added more than 100 million new active customers. At the end of the third quarter, JD had 441.6 million annual active customer accounts, up 32.1% from 334.4 million at the end of the same quarter a year ago.

Third-quarter revenue jumped 29.2% year-over-year to RMB174.2 billion, with sales of general merchandise products accounting for RMB58.1 billion and service revenue coming in at RMB22.8 billion. The company also reported that earnings soared 80.1% year-over-year to RMB5.6 billion, up from RMB3.1 billion in the same quarter a year ago.

In U.S. dollar terms, JD achieved earnings of $0.8 billion and revenue of $25.7 billion. Earnings per ADS were $0.50. The analyst community was expecting earnings per ADS of $0.40 and revenue of $25.7 billion, so JD posted a 25% earnings surprise and in-line revenue. JD is a Conservative buy below $94.

SOM Technicals:

11-20-20: Closed at 87.74. Trade pressures are up. Volumes are bullish. In a retracement down from the 92.77 prior high. The next target down is the $80 support line at the uptrend resistance. Buy the pull backs to this line.

11-29-20: Closed at 89.41. Trade pressures are down into the neutral zone. Volumes are bullish. The support line has risen to 85.69.

12-05-20: Closed at 85.19. Trade pressures are up but reversing. Volumes are neutral. Closed below the 25×5 MA support line. the next target down is 80.15.

12-11-20: Closed at 82.61. Trade pressures are up into the neutral zone. Volumes are bearish. The next target down is 80.19.

 

Novavax, Inc.

Novavax, Inc. (NVAX) has been incredibly resilient amidst the market’s gyrations in November. In fact, the stock has rallied more than 7% over the past three weeks. The reason why is simple: Positive efficacy data for COVID-19 vaccines has created optimism and excitement around Novavax’s vaccine candidate.

You may recall that Novavax develops vaccines for the toughest viruses in the world. Currently, the company’s Nanoflu vaccine for seasonal influenza and RexVax vaccine for RSV F in infants are both in Phase 3 clinical trials. The company’s RexVax vaccine for RSV in seniors and Ebola GP vaccine are in Phase 2 clinical trials.

And with funding from both Operation Warp Speed and the Bill & Melinda Gates Foundation, Novavax is also developing a COVID-19 vaccine. The company recently reported that it’s seen “remarkable progress” in its Phase 3 trial for its COVID-19 vaccine in the U.K. Interim data is expected in the first quarter of 2021, and a Phase 3 trial in the U.S. is anticipated by the end of November. NVAX is an Aggressive buy below $137.

SOM Technicals:

9-26-20: Closed at 113.56. Trade pressures are up. Volumes are bullish. The next target up is 129.69.

10-11-20: Closed at 111.12. Trade pressures are up and trending. Volumes are buillish. The next target up is 129.00. 

10-17-20: Closed at 107.04. Trade pressures are down. volumes are bearish. A close below 101 would signal lower.

10-24-20: Closed at 93.13. Trade pressures are down and trending. Volumes are bullish. the next target down is 73.45.

10-30-20: Closed at 80.71. Trade pressures are down but rising. The next target down is 73.45. A close above 117.39 would start a new move up.

11-07-20: Closed at 89.86. Trade pressures are up but reversing. Volumes are bullish. Need a close above the 25×5 at 98 to restart the move up.

11-14-20: Closed at 96.60. Trade pressures are up. Volumes are bullish. A close above 100 would signal higher.

11-20-20: Closed at 86.60. Trade pressures are down. Volumes are bearish. At resistance. The next target down is 73.45. A break of the resistance would signal higher to 117.39.

11-29-20: Closed at 126.20. Trade pressures are up. Volumes are neutral. Thru the 117 target and now at the 123 target. The next target up is 160.90.

12-05-20: Closed at 126.25. Trade pressures are up but declining. Volumes are neutral. In a retracement inside the move up. The next target down is 94.06.

12-11-20: Closed at 124.88. Trade pressures are up. Volumes are bearish. The next target up is 162.34.

 

Quidel Corporation

Quidel Corporation (QDEL) shares have been a bit volatile in November with positive efficacy data announced for two COVID-19 vaccines in recent weeks. However, as we discussed in the November 13 Weekly Update, I view the recent dip in QDEL as a great buying opportunity. The reality is that a vaccine hasn’t been approved by the FDA yet, and even when a vaccine is approved, it’s going to be a logistical nightmare to distribute. So, COVID-19 testing will remain critical to curbing the spread of the virus.

Quidel currently has two tests for COVID-19: Its Sofia-Antigen test and its Lyra RT-PCR test. Both have been in strong demand as the U.S. amped up its testing capabilities over the past eight months. John Hopkins University recently reported that more than 1.4 million tests are performed each day—and that figure is rising and could easily exceed two million per day.

Considering the surge in testing, it’s no surprise that Quidel reported blowout third-quarter results. In fact, the company noted that sales of COVID-19 products soared to $375.7 million, thanks to strong demand for both of its COVID-19 tests. Total third-quarter revenue jumped 276% year-over-year to $476.1 million, while earnings per share surged 725.7% year-over-year to $5.78.

Looking forward, the analyst community has also continued to up their fourth-quarter estimates. In the past month alone, earnings estimates have increased by 27.8%. For the fourth quarter, earnings are now forecast to increase 907% year-over-year to $10.07 per share, and revenue is forecast to grow 431.5% year-over-year to $808.88 million. QDEL is an Aggressive buy below $224.

SOM Technicals:

7-30-20: Closed at 282.47. Trade pressures are up. Volumes are bullish. The next target up is 367.57.

8-7-20: Closed at 272.76. Trade pressures are down. Volumes are bearish. The next target down is 259.83 the 25×5 MA.

8-15-20: Closed at 245.93. Trade pressures are up. Volumes are bearish. At the 25×5 MA. Should act as resistance. The next target down is 215.00.

8-21-20: Closed at 241.52. Trade pressures are in the neutral zone. Volume are bearish. Appears to want to test the 200.00 support level.

8-29-20: Closed at 162.97. Trade pressures are down hard. Volumes are neutral, short covering? The 200 day MA held as support. A close above 188.83 is the new long entry.

9-5-20: Closed at 154.41. Trade pressures are down. Volumes are bearish. 200 day MA is holding as support.

9-12-20: Closed at 161.19. Trade pressures are rising into the neutral zone. Volumes are now bullish. A close above 188.63 would signal higher.

9-19-20: Closed at 188.50. Trade pressures are up. Volumes are bullish. Has triggered a new long entry. The next target up is 248.00.

9-26-20: Closed at 196.77. Trade pressures are up but turning down. Volumes are bullish. The next target down is 161.41.

10-11-20: Closed at 278.05. (Nice  move while i was gone!) Trade pressures are up and trending. Volumes are bullish. The next target up is 290.43.

10-17-20: Closed at 255.25. Trade pressures are down. Volumes are bearish. A retest of the breakout. support at 223.

10-14-20: Closed at 248.21. Trade pressures are down and trending. Volumes are bearish. At the 239 support.

10-30-20: Closed at 268.29. Trade pressures are up but reversing. Volumes are bullish. the 239 support held. The next target down is 201.45 which would be voided by any close above 287.30.

11-07-20: Closed at 283.46. Trade pressures are up. Volumes are bullish. The next target up is 290.43.

11-14-20: Closed at 198.65. Trade pressures are down. Volumes are bearish. Vaccine prospects presage less testing. At support now.

11-20-20: Closed at 187.19. Trade pressures are down. Volumes are bearish. At 180.00, the 200 day MA as support. A close above 217 is required to restart any new move up.

11-29-20: Closed at 188.60. Trade pressures are rising into the neutral zone. Volumes are bullish. No one loves testing with a vaccine on the horizon? 183 MA support is holding.

12-05-20: Closed at 193.57. Trade pressures are up but reversing. Volumes are neutral. At support the next target down is 117.00.

12-11-20: Closed at 202.56. Trade pressures are up. Volumes are bullish. the new long entry is triggered at 204.90.

 

 

Zoom Video Communications, Inc.

Zoom Video Communications, Inc. (ZM) rounds out the Top 5 Stocks list again this month, and for good reason: The company’s video conferencing platform will remain in top demand for the foreseeable future. In fact, the platform hasn’t only been vital to businesses working remotely, it’s also been critical to helping family and friends stay connected this year. As a result, Zoom had more than 370,000 customers at the end of the third quarter.

To ensure that its customers remained connected this holiday season, Zoom is spreading some early holiday cheer. The company announced this week that its 40-minute time limit on free meetings would be lifted on Thanksgiving Day. With many folks unable to travel and share Thanksgiving dinner with their family and friends due to travel restrictions, Zoom wants to ensure that their Thanksgiving celebrations aren’t cut short by time restrictions.

It’s this sense of goodwill that will continue to drive folks to use Zoom’s platform throughout the holiday season and well into the New Year as the pandemic persists. And that should continue to add to Zoom’s top and bottom lines.

The analyst community has already more than doubled fourth-quarter earnings estimates over the past three months. Fourth-quarter earnings are expected to surge 744.4% year-over-year to $0.76 per share, up from $0.09 per share in the same quarter a year ago. Fourth-quarter revenue is also forecast to soar 316.4% year-over-year to $693.68 million. ZM is an Aggressive buy below $526.

SOM Technicals:

7-30-20: Closed at 253.91. Trade pressures are down but rising into the neutral zone. Volumes are bearish. The next target down is 209.79.

8-7-20: Closed at 258.73. Trade pressures are down. Volumes are Bearish. The next target down is 239.12.

8-15-20: Closed at 244.91. Trade pressures are up. Volumes are bearish. Rising into net bearish volumes after reaching the 227.53. target. Need to get thru the 25×5 MA at 254.63, otherwise more downside.

8-21-20: Closed at 289.68. Trade pressures are up and trending. Volumes are bullish. The resistance was non- existent. A new long entry was triggered at 271.00.

8-29-20: Closed at 299.27. Trade pressures are up. Volumes are bullish. The next target up is 314.82.

9-5-20: Closed at 369.89. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 314.78 which would close the gap up. 

9-12-20: Closed at 383.00. Trade pressures are now up. Volumes are bearish. A close below 376 would signal a new leg down.

9-19-20: Closed at 438.73. Trade pressures are up. Volumes are bullish. In the new move after a back test to try to close the gap at 345. The next target up is 470.76.

9-26-20: Closed at 496.50. Trade pressures are up but declining. Volumes are now neutral. The next target down is 452.23.

10-11-20: Closed at 492.41. Trade pressures up Volumes are bullish. The next target up is the 529.74  prior high.

10-17-20: Closed at 559.00. Trade pressures are up and trending. Volumes are bullish. the next target up is 594.76.

10-24-20: Closed at 511.52. Trade pressures are down. Volumes are bearish. The next target down is 487.96.

10-30-20: Closed at 460.91. Trade pressures are down. Volumes are bearish. The next target down is 446.50.

11-07-20: Closed at 500.11. Trade pressures are up. Volumes are bullish. Need to clear the 25×5 resistance at 501.00.

11-14-20: Closed at 403.68. Trade pressures are up into the neutral zone. Volumes are bearish. The next target down is 357.00.

11-20-20: Closed at 439.60. Trade pressures are up. Volumes are now bullish. The next target up is resistance at 470.00.

11-29-20: Closed at 471.61. Trade pressures are up. Volumes are bullish. At the 470.75 target.  The next target up is 505.88.

12-05-20: Closed at 410.01. Trade pressures are down. Volumes are bearish. At lower wedge support. The next target down is a retest of the prior low at 366.28.

12-11-20: Closed at 397.01. Trade pressures are down but rising. Volumes are bearish. The next target down is 357.46.

 

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is up with equities. Gold and silver dropped with the vaccine news – no more stimulus?

Crude oil and natural gas both moved up with the hope of renewed economic activity.

The US 30 yr Treasuries move down with the same hopes that the demand for money would bring rates up.

The US Dollar continues the long trend down.

________________________

S&P 500 Futures_

Monthly – The move down was triggered this last month but now the new high has made that trigger moot. Trade pressures are up. Volumes closed the month of October as bullish. The next target down is 3061. The next target up is 3948 and would confirm any weekly move higher.

Weekly – A big retracement reversal of the move down. Trade pressures now down into the neutral zone.  Volumes are bullish. The next target up is the upper median line at 3642. The close above 3550 does confirm the daily move higher. A move below 3381 would confirm any daily move lower.

Daily – Flat. In the move up from the 3533 Nov 10th long entry. Trade pressures are up but declining. Volumes are bullish. In a retracement move down after the 3533 long entry. The next target down is 3433. A close below 3364 would confirm the move down.

Profit taking in the WFH (work from home) stocks continues.

________________________

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 2020 year.

The Top 5 portfolio tech (ZM)  and medical stocks (QDEL) dropped hard with the vaccine news this last week. The portfolio stocks were down for the week and are now valued at approximately $109,000, up 9% for the YTD. This move up has absorbed the March-April 2020 down move of 32%.

The portfolio fundamentals continue to be important and have performed well in this reporting cycle.

 

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

#emini #spfutures #SP500 #ES

Market Pressures_

Copper in a new move up. Gold and silver rallied all month expect some consolidation then higher.

Crude oil is a short. Natural gas also in a move down; expect some consolidation here.

The US 30YR Treasuries are trying to move higher but have run into resistance.

The US Dollar futures are in a new move down.

_________________________

S&P 500 Futures_

Monthly – The move down was triggered this last month. Trade pressures are up. Volumes closed the month of October as bullish. The next target down is 2979. The next target up is the prior high of 3576 and would confirm any weekly move higher..

Weekly – A big retracement in the new move down. Trade pressures are up but reversing down. Volumes are bullish. The next target down is 2970. A close above3550 would confirm any daily move higher.

Daily – Flat. In the move up. Trade pressures are up and extended. Volumes are bullish. The next target up is 3533. Expect consolidation and retracement here. A close below the 25×5 MA at 3417 would signal lower. Looking for a retracement of this post election move up.

[11-09-20: Wrong. Pfizer announcement triggers open economy trades.]

________________________

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 2020 year.

The Top 5 portfolio stocks rallied into and beyond election day this last week. The portfolio stocks were up for the week and are now valued at approximately $129,000, up 29% for the YTD. This move up has absorbed the March-April 2020 down move of 32%.

The portfolio fundamentals continue to be important and have performed well in this reporting cycle.

 

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

#emini #spfutures #SP500 #ES

Market Pressures_

Copper pulling back form the highs. Gold and silver testing the September lows.

Crude oil is down and has triggered a new short. Nat gas is near the 3.41 target and looking to consolidate.

The US Treasuries are down with the Dollar.

The US Dollar is creating a channel between 95 and 92.50.

_______________________

S&P 500 Futures_

Monthly – Lower Highs. Trade pressures are up. Volumes closed the month of October as bullish. The next target up is the prior high at 3576. A close below 3259 would confirm any weekly move lower.

Weekly – Now in the new move down. Trade pressures are up but reversing sharply. Volumes are bearish. The next target down is 2970. Any close above 3550 would confirm any daily move higher.

Daily – Short . In the new move down from the 3273 short entry. Trade pressures are down. Volumes are bearish. The next target down is 3162 (take the profit there).  A close above 3402 would signal higher. Use 3402 as the stop for any short.

[11-05-20: election volatility never allowed the trade entry.]

_______________________

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 2020 year.

The Top 5 portfolio stocks were pushed down hard this last week. The portfolio stocks were down for the week and are now valued at approximately $117,000, up 17% for the YTD. This move up has absorbed the March down move of 32%.

The portfolio fundamentals continue to be important and have performed well in this reporting cycle. Institutions are likely buying these TOP 5 better fundamentals into these earnings reports.

Genmab (GMAB) will be replaced by Logitech (LOGI) on the open.

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

 

The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.
(For this 2020 year, SOM will track only the Top 5 Hi-Growth Investments.)

https://navelliergrowth.investorplace.com/

Navellier says,

High-Growth Investments

DocuSign, Inc.

DocuSign, Inc. (DOCU) is making its fifth-straight appearance on the Top 5 Stocks list this month. You may recall that DocuSign developed a cloud-based platform that enables companies to create, upload and send agreements to stakeholders for electronic signatures. Many companies were moving toward a paperless approach to contracts and other agreements, but the global pandemic has accelerated this movement. In fact, the company experienced a 55% increase in enterprise and commercial clients during its second quarter in fiscal year 2021.

This increase in clients certainly added to DocuSign’s top and bottom lines, too. The company reported total revenue of $342.2 million and earnings of $0.17 per share, or 45% annual revenue growth and 1,600% annual earnings growth. Given these blowout second-quarter results, DocuSign, as well as the analyst community, has increased its third-quarter expectations.

DocuSign is anticipated to release results for its third quarter in fiscal year 2021 in early December. The current consensus estimate calls for earnings of $0.13 per share on $361.3 million in revenue, which represents 18.2% annual earnings growth and 44.8% annual revenue growth.

Considering that DocuSign has crushed analysts’ earnings estimates by an average 134% over the past four quarters, I’m looking for another quarter of blowout results. DOCU is a Moderately Aggressive buy below $222.

SOM Technicals:

6-26-20: Closed at 177.58. Trade pressures are up. Volumes are bullish. This spike up is not likely to continue in the face of the sell off.

7-4-20: Closed at 190.99. Trade pressures are up. Volumes are bullish. This parabolic move is very uncomfortable.

7-10-20: Closed at 210.11. Trade pressures are up but reversing. A close below 210 would signal lower.

7-18-20: Closed at 196.42. Trade pressures are down but rising. Volumes are neutral. The next target up is 217.

7-24-20: Closed at 190.95. Trade pressures are down. Volumes are bearish. The next target down is 172.23.

7-30-20: Closed at 217.45. Trade pressures are up. Volumes are bullish. The next target up is 257.20.

8-7-20: Closed at 205.00. Trade pressures are down. Volumes are bearish. Dropped thru two downside targets this week. The next target down is 185.06.

8-15-20: Closed at 199.71. Trade pressures are neutral. Volumes are neutral also. Traded down near the 185.06 target and now has moved higher. At the 25×5 MA and looks lower. The next target don is the 185.91 Target.

8-21-20: Closed at 210.18. Trade pressures are up but showing reversal. Volumes are bullish. The next target up is 221.00.

8-29-20: Closed at 215.24. Trade pressures are up. Volumes are bearish. resistance here at the 217.23 level, which is also the new long entry.

9-5-20: Closed at 216.26: Trade pressures are down. Volumes are bearish. Sitting on the 25×5 MA support at 216.

9-12-20: Closed at 197.94. Trade pressures are down. Volumes are bearish. A close below 196.53 triggers a new short entry.

9-19-20: Closed at 194.42. Trade pressures are down. Volumes are neutral. The next target down is 173.35.

9-26-20: Closed at 212.36. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 173.35.

10-11-20: Closed at 225.80. Trade pressures are down into the neutral zone. Volumes are bullish. A close above 240 would signal higher.

10-17-20: Closed at 234.60. Trade pressure are up. Volume are bullish. The next target up is 300.00.

10-24-20: Closed at 219.82. Trade pressures are down but reversing. Volumes are bearish. The next target down is 195.29.

10-30-20: Closed at 202.25. Trade pressures are down. Volumes are bearish. the next target down is 195.29.

11-07-20: Closed at 231.69. Trade pressures are up but reversing. Volumes are bearish. Resistance at 246 held. the next raget down is the 195 prior target.

11-14-20: Closed at 205.70. Trade pressures are now up but reversing again. Volumes are bearish. The 195 level was touched then rallied to the close.

11-20-20: Closed at 221.59. Trade pressures are up. V olumes are bullish.  The next target up is 241.70.

 

Logitech International S.A.

Logitech International S.A. (LOGI) continues to benefit from the boom in online gaming, as well as the move to remote working environments, during the global pandemic. You may recall that Logitech offers a range of products from keyboards and mice to iPad and tablet accessories, from headsets and webcams to video conferencing tools and speakers. And strong demand for these products added nicely to Logitech’s top and bottom lines.

In fact, for its second quarter in fiscal year 2021, which was reported on October 20, Logitech achieved sales of $1.26 billion, or a 75% year-over-year increase. That crushed analysts’ estimates for $834.55 million. Second-quarter earnings soared 295% year-over-year to $354 million, or $1.87 per share, also topping forecasts for $0.57 per share by a whopping 228.1%.

Logitech noted that the surge in its business during its second quarter was a direct result of the new environment: “Our products are essential to helping customers work, play and create wherever they are. Logitech is well positioned for long-term growth.”

As a result, Logitech increased its full-year 2021 outlook. The company now expects to achieve sales growth between 35% and 40%, up from its previous forecast for 10% to 13% annual sales growth. Full-year earnings are forecast to be between $700 million and $725 million, compared to previous estimates for $410 million to $425 million. LOGI is a Conservative buy below $92.

SOM Technicals:

10-30-20: Closed at 84.65. Trade pressures are down. Volumes are bearish. The next target down is 78.25.

11-07-20: Closed at 95.94. Trade pressures are up and trending. Volumes are bullish. the next target up is 95.71 the prior high.

11-14-20: Closed at 83.16. Trade pressures  have turned up. Volumes are neutral. The 75 level has held as support.

11-20-20: Closed at 83.72. Trade pressures are up. Volumes are bullish. Remains in the downtrend. The resistance is 87.50.

 

 

Novavax, Inc.

Novavax, Inc. (NVAX) is another one of our Buy List companies that’s benefiting from the global pandemic. Specifically, Novavax is well-known for developing vaccines for the toughest viruses in the world, so it’s no surprise that the company has a leg in the race for the coronavirus vaccine.

Earlier this week, Novavax provided an update on its Phase 3 clinical trial for the COVID-19 vaccine. The company has expanded its clinical trial in the U.K. to include 15,000 volunteers, which will enable Novavax to determine the safety and efficacy of its vaccine candidate quicker. Data from the trial is anticipated in the first quarter of 2021.

Novavax also noted that its Phase 3 clinical trial in the U.S. and Mexico is slated to start by the end of November. The trial is supported by the U.S. government’s Operation Warp Speed, and it is expected to enroll up to 30,000 volunteers.

Given the positive developments regarding the COVID-19 vaccine, analysts are expecting stunning third-quarter results from Novavax. The company is expected to report earnings for the third quarter in early November. Analysts are looking for earnings to surge 347.3% year-over-year to $1.83 per share, up from a $0.74 earnings per share loss in the same quarter a year ago. NVAX is an Aggressive buy below $125.

SOM Technicals:

9-26-20: Closed at 113.56. Trade pressures are up. Volumes are bullish. The next target up is 129.69.

10-11-20: Closed at 111.12. Trade pressures are up and trending. Volumes are buillish. The next target up is 129.00. 

10-17-20: Closed at 107.04. Trade pressures are down. volumes are bearish. A close below 101 would signal lower.

10-24-20: Closed at 93.13. Trade pressures are down and trending. Volumes are bullish. the next target down is 73.45.

10-30-20: Closed at 80.71. Trade pressures are down but rising. The next target down is 73.45. A close above 117.39 would start a new move up.

11-07-20: Closed at 89.86. Trade pressures are up but reversing. Volumes are bullish. Need a close above the 25×5 at 98 to restart the move up.

11-14-20: Closed at 96.60. Trade pressures are up. Volumes are bullish. A close above 100 would signal higher.

11-20-20: Closed at 86.60. Trade pressures are down. Volumes are bearish. At resistance. The next target down is 73.45. A break of the resistance would signal higher to 117.39.

 

Quidel Corporation

Quidel Corporation (QDEL) has continued to exhibit tremendous relative strength. In fact, shares rose 8% this week versus the Dow’s 6.5% drop and the S&P 500’s 5.6% dip. As we discussed in the October 26 Special Market Podcast, the market pulled back on rising coronavirus fears. Confirmed cases accelerated over the weekend, leading several European countries to impose restrictions again.

No one wants to see another outbreak of the virus, but investors were optimistic that rising cases will create more demand for Quidel’s coronavirus diagnostic tests. Quidel has already ramped up the production of its rapid antigen test, doubling production to about two million tests per week. The company also plans to build more production lines, with a goal of producing more than 22 million tests per year by July 2021.

Clearly, the need for coronavirus testing isn’t going away any time soon—and that bodes particularly well for Quidel’s business. The analyst community agrees. Third-quarter earnings estimates were revised a whopping 98.7% higher in the three months leading up to Quidel’s quarterly report. And on Thursday evening, Quidel did not disappoint, posting blowout third-quarter results.

For the third quarter, Quidel achieved total revenue of $476.1 million, up 276% from the $126.5 million in the same quarter a year ago. Third-quarter earnings surged 725.7% year-over-year to $5.78 per share, compared to $0.70 per share in the third quarter of 2019. The analyst community was expecting earnings of $4.75 per share on revenue of $450.39 million, so Quidel beat earnings estimates by 21.7% and revenue forecasts by 5.7%. QDEL is an Aggressive buy below $322.

SOM Technicals:

7-30-20: Closed at 282.47. Trade pressures are up. Volumes are bullish. The next target up is 367.57.

8-7-20: Closed at 272.76. Trade pressures are down. Volumes are bearish. The next target down is 259.83 the 25×5 MA.

8-15-20: Closed at 245.93. Trade pressures are up. Volumes are bearish. At the 25×5 MA. Should act as resistance. The next target down is 215.00.

8-21-20: Closed at 241.52. Trade pressures are in the neutral zone. Volume are bearish. Appears to want to test the 200.00 support level.

8-29-20: Closed at 162.97. Trade pressures are down hard. Volumes are neutral, short covering? The 200 day MA held as support. A close above 188.83 is the new long entry.

9-5-20: Closed at 154.41. Trade pressures are down. Volumes are bearish. 200 day MA is holding as support.

9-12-20: Closed at 161.19. Trade pressures are rising into the neutral zone. Volumes are now bullish. A close above 188.63 would signal higher.

9-19-20: Closed at 188.50. Trade pressures are up. Volumes are bullish. Has triggered a new long entry. The next target up is 248.00.

9-26-20: Closed at 196.77. Trade pressures are up but turning down. Volumes are bullish. The next target down is 161.41.

10-11-20: Closed at 278.05. (Nice  move while i was gone!) Trade pressures are up and trending. Volumes are bullish. The next target up is 290.43.

10-17-20: Closed at 255.25. Trade pressures are down. Volumes are bearish. A retest of the breakout. support at 223.

10-14-20: Closed at 248.21. Trade pressures are down and trending. Volumes are bearish. At the 239 support.

10-30-20: Closed at 268.29. Trade pressures are up but reversing. Volumes are bullish. the 239 support held. The next target down is 201.45 which would be voided by any close above 287.30.

11-07-20: Closed at 283.46. Trade pressures are up. Volumes are bullish. The next target up is 290.43.

11-14-20: Closed at 198.65. Trade pressures are down. Volumes are bearish. Vaccine prospects presage less testing. At support now.

11-20-20: Closed at 187.19. Trade pressures are down. Volumes are bearish. At 180.00, the 200 day MA as support. A close above 217 is required to restart any new move up.

 

Zoom Video Communications, Inc.

Zoom Video Communications, Inc. (ZM) isn’t showing any signs of slowing down. The company has probably been one of the biggest beneficiaries of the coronavirus pandemic, as primary schools, colleges and businesses alike turned to its online communication platform to host classes, study groups, meetings and even job interviews. Individuals have also utilized the platform in order to maintain relationships with family and friends from afar.

During the second quarter alone, Zoom’s revenue soared 355% year-over-year and earnings surged 1,045% year-over-year. Analysts are now looking for a repeat performance in the third and fourth quarters, especially since European countries like Ireland and Italy recently reinstated lockdown restrictions and curfews. So, it looks like Zoom’s communication platform will remain in top demand for the foreseeable future.

To account for this surge, analysts have upped third-quarter earnings estimates by 117% in the past two months and fourth-quarter forecasts by 124% in the past three months. Third-quarter earnings are now expected to soar 744.4% year-over-year to $0.76 per share and revenue is anticipated to jump 315.3% year-over-year to $691.93 million.

Zoom hasn’t provided an exact date for its third-quarter earnings release yet, but the company is expected to announce results in early December. ZM is an Aggressive buy below $553.

SOM Technicals:

7-30-20: Closed at 253.91. Trade pressures are down but rising into the neutral zone. Volumes are bearish. The next target down is 209.79.

8-7-20: Closed at 258.73. Trade pressures are down. Volumes are Bearish. The next target down is 239.12.

8-15-20: Closed at 244.91. Trade pressures are up. Volumes are bearish. Rising into net bearish volumes after reaching the 227.53. target. Need to get thru the 25×5 MA at 254.63, otherwise more downside.

8-21-20: Closed at 289.68. Trade pressures are up and trending. Volumes are bullish. The resistance was non- existent. A new long entry was triggered at 271.00.

8-29-20: Closed at 299.27. Trade pressures are up. Volumes are bullish. The next target up is 314.82.

9-5-20: Closed at 369.89. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 314.78 which would close the gap up. 

9-12-20: Closed at 383.00. Trade pressures are now up. Volumes are bearish. A close below 376 would signal a new leg down.

9-19-20: Closed at 438.73. Trade pressures are up. Volumes are bullish. In the new move after a back test to try to close the gap at 345. The next target up is 470.76.

9-26-20: Closed at 496.50. Trade pressures are up but declining. Volumes are now neutral. The next target down is 452.23.

10-11-20: Closed at 492.41. Trade pressures up Volumes are bullish. The next target up is the 529.74  prior high.

10-17-20: Closed at 559.00. Trade pressures are up and trending. Volumes are bullish. the next target up is 594.76.

10-24-20: Closed at 511.52. Trade pressures are down. Volumes are bearish. The next target down is 487.96.

10-30-20: Closed at 460.91. Trade pressures are down. Volumes are bearish. The next target down is 446.50.

11-07-20: Closed at 500.11. Trade pressures are up. Volumes are bullish. Need to clear the 25×5 resistance at 501.00.

11-14-20: Closed at 403.68. Trade pressures are up into the neutral zone. Volumes are bearish. The next target down is 357.00.

11-20-20: Closed at 439.60. Trade pressures are up. Volumes are now bullish. The next target up is resistance at 470.00.

#emini #spfutures #SP500 #ES

Market Pressures_

Copper has cleared the prior highs. Gold and silver are still basing.

Crude oil is moving to the lower bound of the channel. Natural gas is in a move higher.

The US 30 Year Treasury Bond is in a sustained move down.

The US Dollar futures are declining with the bond markets.

_______________________

S&P 500 Futures_

Monthly – Remains in the move up. Trade pressures are up. Volumes close the September month as bullish. The next target up is 3948. A close below 3129 would confirm any weekly move lower.

Weekly – In the April move up. Trade pressures are up but reversing. Volumes are bullish. The next target up is the 3579 prior high. A close below 3273 would confirm any daily move lower.

Daily – Flat. In a retracement move down from the 3451 short entry. Trade pressures are up. Volumes are neutral. The next target down is 3351. A close above 3533 would signal a new move higher.

A waiting the stimulus legislation.
$2 trillion would do wonders to the flows in the market.
Q3 earnings reports are surprising to the upside.

[10-28-20: lower stop to 3307.The next target down is 3162.]
[10-29-20: stopped out.]

_______________________

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 2020 year.

The Top 5 portfolio stocks benefited from the rally this last week. The portfolio stocks were down for the week and are now valued at approximately $124,000, up 24% for the YTD. This move up has absorbed the March down move of 32%.

The portfolio fundamentals continue to be important. Institutions are likely buying these TOP 5 better fundamentals into these earnings reports.

 

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

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is at resistance. Gold and silver continue to base awaiting the stimulus agreement.

Crude oil is drifting in a long channel; is storage filling up? Natural gas is in a second leg up.

The US Treasury bond futures are in a move down.

The US Dollar futures are also in a move down.

_______________________

S&P 500 Futures_

Monthly – Still at the high end of the monthly bar. Trade pressures are up. Volumes closed the month of Sept as bullish. The next target up is 3948. A close below 3154 would confirm any weekly mover lower.

Weekly – Have broken above the down trend line, the upper median line. Trade pressures are up but reversing. Volumes remain bullish. The next target up is the 3576 prior high. A close below 3273 would confirm any daily  move lower.

Daily – Broke above the daily upper median line last week. Looked for a pullback, which happened thursday. Trade pressures are down into the neutral zone. Volumes are bullish. Need a reversal in the daily Trade pressures to commit to a new long. Earnings next week may be the catalyst. A close below 3385 level would signal a new move lower.

_______________________

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 2020 year.

The Top 5 portfolio stocks benefited from the rally this last week. The portfolio stocks were up for the week and are now valued at approximately $133,000, up 33% for the YTD. This move up has absorbed the March down move of 32%.

The portfolio fundamentals continue to be important. Institutions are likely buying these TOP 5 better fundamentals into the next earnings reports..

 

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

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is testing upper resistances. Gold and silver are turning higher.

Crude is in the same 35-45 channel. Natural gas is in a new move up.

The US 30 year Treasury is testing support.

The US Dollar futures are at support.

_______________________

S&P 500 Futures_

Monthly – MTD is still near prior month close. Trade pressures are up. Volume close the month of September as bullish. The next target up is the prior high of 3576 then 3948. A close below 3156 would confim,r any weekly close lower.

Weekly – The 4 week retracement stopped at the new short entry of 3273. Trade pressures are up but rolling over. Volumes are still bullish. The next target up is the prior high of 3576. A close below the short entry at 3273 would confirm any daily move lower.

Daily  – Flat. Friday close was a break-out above the downward sloping andrews upper median line. Trade pressures are up. Volumes are bullish. Expect a back test of this breakout; could use that as an entry around the 3400 level. The next target up is 3533. A close below 3395 would signal a new move lower.

_______________________

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 2020 year.

The Top 5 portfolio stocks benefited from the rally these last two weeks. The portfolio stocks were up for both weeks and are now valued at approximately $131,000, up 31% for the YTD. This move up has absorbed the March down move of 32%.

The portfolio fundamentals continue to be important as the market narrows. Institutions are likely buying these TOP 5 better fundamentals into the next earnings reports..

 

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

#emini #spfutures #SP500 #ES

Market Pressures_

Copper has pulled back to trest support. Gold and Silver declined into the weeks-end as the dollar strengthened.

Crude oil remains in consolidation. Natural gas had a hard sell off down to 2.48 and rebounded into the close for the week.

The US 30 year Treasuries are in a slow move up in the face of a rising dollar.

The US Dollar futures are in the new move up after the basing completed.

_______________________

S&P 500 Futures_

Monthly – Over a 300 point drop so far for the month. Trade pressures are up. Volumes closed the Month of August as bullish, albeit on light volumes. The next target up will be the prior high at 3576. A close below 3115 would confirm any weekly move lower.

Weekly – In a retracement down form the 3576 highs. Trade pressures are up but rolling over. Volumes are bullish. The next target up is 3642. A close below 3273 would confirm any daily move lower.

Daily – Short. In the move down from the 3350 short entry. Trade pressures are down but rising. Volumes are now neutral. The next target down is 3239 with the profit target at 3128. A close above the 25×5 MA at 3388 would signal higher.

[9-27-20: Set the stop at 3320.] [9-28-20: Stopped out in the AM. Look for a new short opportunity near 3358]

_______________________

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 2020 year.

The Top 5 portfolio stocks countered the market sell off once more this last week. The portfolio stocks were up for the week and are now valued at approximately $122,000, up 22% for the YTD.

The portfolio fundamentals continue to be important as the market narrows. Institutions are buying these better fundamentals into the quarter end.

Kroger (KR) and West Pharmaceuticals (WST) will be replaced at the open on Monday with GenMab (GMAB) and Novamax (NVAX).

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