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S&P 500 Futures
#emini #spfutures #SP500 #ES
Market Summary:
Copper did break down. Gold down, held the 1922 support. Silver is a new long.
The Crude is looking toppy. Natural retested lows.
The US 30yr Treasury Bond breaks down hard.
The US Dollar futures remain in the move up, but still overbought.
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S&P 500 Futures #ESZ23
Monthly – Monthly support fails. Trade pressures remain up but are turning down. Volumes closed the month of August as bullish. The next target down is 4025. The close below 4373 has confirmed the weekly move lower.
Weekly – The weekly has two weeks of a move down. Trade pressures are still up, but are turning down. Volumes remain bearish. The close below 4583 confirmed the daily move lower. The next target down is 4280. A close above 4602 would confirm any Daily move higher.
Daily – Flat. The close below 4484 did signal lower. Trade pressures are down. Volumes are bearish. The next target down is 4280. The expected oversold level is 4399. A close above 4537 would signal higher. The expected overbought level is 4449.
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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 2023 year.
The Navellier portfolio stocks closed down 35% for the 2022 Year.
Portfolio values closed at approximately $109,000. The Year-to-Date portfolio performance is now up 9%.
[The author may have long or short positions in any of the securities mentioned.]
US$$
#usdollarfutures #ustreasurybondfutures
USD_ DXZ23
Weekly – In the new September 2023 uptrend. Trade pressures remain up. Volumes remain bullish.
Daily – Long. In the move up from the long signal at 100.26 on 7/27. Trade pressure remains up. Volumes remain bullish.
The next target up is 105.65. The overbought levels are 105.95.
A close below 104.28 would signal lower. The expected oversold levels are now 104.52.
US30YR T-BOND_ USZ23
Weekly – In the October 2021 downtrend and moving down and away from upside resistance. Trade pressures are down. Volumes remain bearish.
Daily – Flat. Long signal completely wrong Trade pressures are down. Volumes are now bullish.
The close below 118-09 did signal lower. At the 116-12 downside target. The expected oversold levels are 115-24.
A close above 117-28 would signal higher. Expected overbought levels are 118.22.
Oil & Gas
#crudeoilfutures #naturalgasfutures
CRUDE_ CLV23
Weekly – In a new August 2023 uptrend. Trade pressures are up. Volumes remain bullish.
Daily – Flat. In the second leg up from the 81.85 long entry on 8/31. Trade pressures are up and trending. Volumes are now bearish.
The next target up is 95.53. The overbought levels are now 91.68. Support is at 84.71.
A close below 87.45 would signal lower. The expected oversold levels are 87.05.
NAT GAS_ NGV23
Weekly – In the December 2022 downtrend; holding at long term support. Trade pressures are up. Volumes are are neutral.
Daily – Flat. Rallied to 3.10, now moving down and moving up the lower median line support. Trade pressures are down. Volumes are bearish.
The next target down is 2.74. The expected oversold level is 2.51.
A close above 2.90 would signal higher. The expected overbought level is 2.90.
[The average daily range is moderating. Still too much volatility; stops won’t work. Stay Away.]
Metals
#copperfutures #goldfutures #silverfutures
COPPER_ HGZ23
Weekly – In the May 2023 downtrend. Trade pressures are consolidating in the neutral zone. Volumes remain bearish.
Daily – Flat. Price breaks below the Lower median line to test the 3.59 prior lows. Trade pressures are down. Volumes are bullish.
At the next target down is 3.66. The expected oversold levels are 3.62.
A close above 3.74 would signal higher. Expected overbought levels are now 3.83.
GOLD_ GCZ23
Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are still up into the neutral zone. Volumes remain bearish.
Daily – Flat. Trade pressures are now down but rising. Volumes are now bearish.
The 1922 support has held. The next target down is 1903. The expected oversold levels are 1911.
Need a close above 1948 to enter a new long trade. The expected overbought levels are 1967.
SILVER_ SIZ23
Weekly – In the April 2023 uptrend. Trade pressures are in the neutral zone. Volumes are neutral.
Daily – Long. In the move up from the 23.51 entry, after rallying off the September 2022 trendline. Trade pressures are up. Volumes remain bullish.
Got the close above 23.51 to signal higher. The next target up would be 24.18. Overbought levels are 26.62.
A close below 23.33 signals lower. The next target down is 21.52, Oversold levels are expected at 21.27.
Set the SL at 23.33.
S&P500 Futures
#emini #spfutures #SP500 #ES
Market Summary:
Copper’s Tried to break down but recovered late in the week. Gold down fails and now in a retest of support which has become resistance. Silver held the 22.87 support.
The Crude is overbought. Natural gas falls after breakout.
The US 30yr Treasury Bond needs to breakout of the wedge formation.
The US Dollar futures remain in the move up, but remain overbought.
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S&P 500 Futures #ESZ23
Monthly – The spinning top selloff is testing monthly support. Trade pressures remain up. Volumes closed the month of August as bullish. The next target up remains 5010. A close below 4373 would confirm any weekly move lower.
Weekly – The weekly has two weeks of a move down. Trade pressures are still up, but are turning down. Volumes remain bearish. The close below 4583 confirms the daily move lower. The next target down is 4280. A close above 4640 would confirm any Daily move higher.
Daily – Flat. In the pull back from the 4566 resistance trend line. Trade pressures are down. Volumes are bearish. A close above 4566 would signal short term higher. The next target up is 4593. But the expected overbought level is 4534. A close below 4484 would signal lower. The expected oversold level is 4405.
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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 2023 year.
The Navellier portfolio stocks closed down 35% for the 2022 Year.
Portfolio values closed down hard for the week at approximately $105,000 with the new changes. The Year-to-Date portfolio performance is now up 5%.
[The author may have long or short positions in any of the securities mentioned.]
US$$
#usdollarfutures #ustreasurybondfutures
USD_ DXZ23
Weekly – In the new September 2023 uptrend. Trade pressures are up. Volumes remain bullish.
Daily – Long. In the move up from the long signal at 100.26 on 7/27. Trade pressure remains up. Volumes are now bullish.
The next target up is 107.38. The overbought levels are 106.75.
A close below 103.23 would signal lower. The expected oversold levels are now 104.06.
US30YR T-BOND_ USZ23
Weekly – In the October 2021 downtrend and moving down and away from upside resistance. Trade pressures are down. Volumes remain bearish.
Daily – Flat. Still in consolidation lower after the long signal. Trade pressures are down. Volumes remain bearish.
In a wedge that ends near October. A close above 120.68 would signal higher Expected overbought levels are 121-11.
A close below 118-09 would signal lower. The next target down is 117-10. Expected oversold levels are 117-10.
Oil & Gas
#crudeoilfutures #naturalgasfutures
CRUDE_ CLV23
Weekly – In a new August 2023 uptrend. Trade pressures are up. Volumes remain bullish.
Daily – Flat. In the second leg up from the 81.85 long entry on 8/31. Trade pressures are up and trending. Volumes remain bullish.
The next target up is 95.53. The overbought levels are now 91.21. Support is at 83.15.
A close below 83.15 would signal lower. The expected oversold levels are 85.02.
NAT GAS_ NGV23
Weekly – In the December 2022 downtrend; holding at long term support. Trade pressures are up into the neutral zone. Volumes are remain bearish.
Daily – Flat. Rallied to 2.82, now moving down again to the lower median line support. Trade pressures are down. Volumes remain neutral.
The next target up is 2.78. The expected overbought level is 2.90.
A close below 2.63 would signal lower. The expected oversold level is 2.49.
[The average daily range is moderating. Still too much volatility; stops won’t work. Stay Away.]
Metals
#copperfutures #goldfutures #silverfutures
COPPER_ HGZ23
Weekly – In the May 2023 downtrend. Trade pressures are up into the neutral zone. Volumes remain bearish.
Daily – Flat. Still bearish but consolidating at the lower median line from 8-17. Trade pressures are up. Volumes remain bearish.
The next target down is 3.66. The expected oversold levels are 3.71.
A close above 3.83 would signal higher. Expected overbought levels are now 3.90.
GOLD_ GCZ23
Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are still up into the neutral zone. Volumes remain bearish.
Daily – Flat. Trade pressures are now up. Volumes are now bullish.
The break down of the LML at 1927 signaled lower. The next target down is 1922, then 1903. The expected oversold levels are the lower lows of 1903.
Need a close above 1949 to enter a new long trade. The expected overbought levels are 1966.
SILVER_ SIZ23
Weekly – In the April 2023 uptrend. Trade pressures are now down. Volumes remain bearish.
Daily – Flat. In the move down, but rallied off the September 2022 trendline. Trade pressures are up into the neutral zone. Volumes are bullish.
The close below 23.88 signaled lower, then price moved back above the trendline. The next target down is 21.52, Oversold levels are expected at 21.27.
Need a close above 23.51 to signal higher. The next target up would be 23.71. Overbought levels are 26.62.
S&P 500 Futures
#emini #spfutures #SP500 #ES
Market Summary:
Copper’s new long failed. Gold down to the lower median line. Silver continued the sell off, must hold the 22.84 support.
The Crude moving into overbought. Natural gas breaks out of bull flag.
The US 30yr Treasury Bond rallies thru the long trigger, then pulls back.
The US Dollar futures remain in the move up, but remains at overbought levels.
_________________
S&P 500 Futures #ESZ23
Monthly – The selloff is testing monthly support. Trade pressures remain up. Volumes closed the month of August as bullish. The next target up remains 5010. A close below 4373 would confirm any weekly move lower.
Weekly – The weekly moves up off the 4399 lows but still in the move down. Trade pressures are still up, but are turning down. Volumes remain bearish. The close below 4583 confirms the daily move lower. The next target down is 4280. A close above 4640 would confirm any Daily move higher.
Daily – Flat. In the pull back from the 4587 resistance. Trade pressures are now down. Volumes are neutral. A close above 4529 would signal short term higher. The next target up is 4587. But the expected overbought level is 4511. A close below 4480 would signal lower. The expected oversold level is 4366.
[9-10-23: Close the September long into contract expiration for a loss.]
___________________
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 2023 year.
The Navellier portfolio stocks closed down 35% for the 2022 Year.
Portfolio values closed up for the week unchanged at approximately $111,000 with the new changes. The Year-to-Date portfolio performance is now up 11%.
[The author may have long or short positions in any of the securities mentioned.]