Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM26

Weekly – In the January 2026 uptrend. Trade pressures remain up, but declining to near neutral. Volumes are are now bearish.

Daily – Short. Rallied to resistance. In the mve down from 102.82 on 5/5. Trade pressures down.  Volumes are now bullish.

The next target down is 93.58, which is also support. The expected oversold level declines to 91.01.

A close above 97.92 would signal higher. The expected overbought levels declines to 107.88.

[OB/OS channel is rising.] expect increasing volatility.
OVX (oil volatility) holding at 72; still high.

(One of the larger components in the measure of inflation.The Hedgeye.com inflation nowcast now expects inflation rising in the 2nd thru the 4th quarters of 2026.)

[5-8-26: Set the SL at 97.05.]

 

NAT GAS_ NGM26

Weekly – In the January 2025 uptrend. Trade pressures remain down.  Volumes remain bearish.

Daily – Flat, The move up started at 2.67. Back-tested the entry on 5/7, then higher again. Trade pressures are up.  Volumes are bearish.

The next target up is 2.85 resistance. The expected overbought level rises to 2.91.

A close below 2.73 would signal lower.  The expected oversold level rises to 2.61.

[OB/OS channel is rising.]
Natural gas is produced with oil production. Natural gas production as a ratio of oil production has been rising, amounting to 47% of the permian basin oil production in 2024. Currently an overproduction of gas and diesel has created a natural gas glut; driving prices down.

[5-8-26: Set a SL at 2.73.]

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN26, MHGN26

Weekly – In the October 2025 uptrend. Trade pressures remain up, but declining. Volumes remain neutral.

Daily – Flat. The move up from 6.03 on 5/1 takes price to 6.28. Trade pressures are up.  Volumes are bullish.

The next target up is 6.34. The expected overbought levels rise to 6.33.

A close below 6.19 would signal lower. The expected oversold levels rise to 5.92.

[OB/OS channel is rising.]

[5-8-26: Missed this one.]

 

GOLD_ GCM26, MGCM26

Weekly – In the December 2023 uptrend, still near support.  Trade pressures remain down. Volumes remain bearish.

Daily – Long. Price moved below 4549 then turned higher. In the move up from 4639 on 5/5. Trade pressures are up.  Volumes are now bullish.

The next target up is 4822. The expected overbought level rises to 4768.

A close below 4670 would signal lower. The expected oversold level declines to 4551.

[OB/OS channel is widening.]  GVX hold near 26.40 – remaining in the investable zone.

[5-8-26: Set the SL at 4659.]

 

SILVER_ SIN26

Weekly – In the December 2023 uptrend. Trade pressures are down into the neutral zone.  Volumes remain neutral.

Daily – Flat. After a retest of the breakout trendline, Silver moved higher on news.  Trade pressures remain up.  Volumes are now bullish.

The next target up is 84.86. Overbought levels rise to 82.9.

A close below 72.68 would signal lower. The oversold levels rise to 70.2.

[OB/OS channel is rising.]

[5-8-26: Nearing the upper channel boundary. Trim,Take profits.]

 

S&P 500 Futures

#emini #spfutures #SP500 #ES, #MES

Market Summary:

Copper in a correction down, look for a breakout of the bull flag. Gold basing and Silver breaks above the bull flag. GVX declining, allowing risk.

Crude rallied on Iranian news, but turning down at the weekend.  Natural Gas attempts a breakout but turns lower into the weekend.

The US 30yr Treasury rises as the 10yr reaches OB.
The 10yr yields rise to 4.37%.
The expected overbought level for the 10yr yield rises to 4.43%.

The US Dollar – attempted a rally, but turning lower.

_________________

S&P 500 Futures   #ESM26, #MESM26

Monthly –Monthly bar recovers and is making new ATH’s. Trade pressures remain up, but declining. Volumes closed the month of April as bullish.  The 7300 price is the adjusted high.  The next target up is 7374. A close below 6990 would confirm any weekly move lower.

Weekly – The weekly bar backtested the Oct 31 resistance line and moved higher.  Trade pressures are up. Volumes remain bullish.  The next target up is 7374. A close below 7126 would confirm any new daily move lower.

Daily – Long.  Continues in the move up from the 6893 long entry on 4/13. Trade pressures remain up, declining. Volumes remain bullish.

The next target up is 7305, which is also above the OB level.  The expected overbought level rises to 7238.

A close below 7202 would signal lower. The expected oversold level rises to 7068.

[OB/OS trend is rising.]
The VIX closes below 19 at 16.98 indicating market is investable. The Hedgeye.com VIX risk range is 16.34 -19.49. Buy the SPX dip at the VIX low RR and trim at the Top RR.

[5-1-26: At the OB level. Tighten stops. Raise the SL to 7233.]

[5-4-26: Long trade stopped out at 7233.]

__________________

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 reset to start at $100,000 for the 2026 year.

These Navellier Top 5 portfolio stocks closed:
Down 35% for the 2022 Year.
    Up 17% for the 2023 Year.
    Up 42% for the 2024 Year.
    Up 48% for the 2025 Year

Portfolio stock values for 2026. 
The portfolio value higher for the week, at $157,000.
The Year-to-Date portfolio performance is up 57%.

The S&P 500 YTD return is 5.31%

 

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXM26

Weekly –  In the March 2026 uptrend. Trade pressures remain down. Volumes remain bearish.

Daily – Flat. Stopped out of the short trade at 97.90. Trade pressures are down.  Volumes are bearish.

The next target down is 97.20. The expected oversold levels decline to 97.80.

A close above 98.23 would signal higher  The expected overbought level declines to 98.96.

[The OB/OS channel is declining.]

 

US30YR T-BOND_ USM26

Weekly – In the new March 2026 downtrend.  Trade pressures rise into the neutral zone.  Volumes are bearish.

Daily  – Flat. In the move up off the 112-11 lows. Trade pressures remain down.  Volumes remain bearish.

A close above 113-16 would signal higher. Overbought levels decline to 115-00.

A close below 112-22 would signal lower. Oversold levels decline to 112-22.

[The OB/OS channel is widening.]

10yr yields rise to 4.37%. and near OB.

 

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM26

Weekly – In the January 2026 uptrend. Trade pressures remain up, but declining to near neutral. Volumes are remain neutral.

Daily – Flat. Now at OB levels. Selling off into the weekend. Trade pressures are up, but turning down.  Volumes are now neutral.

The next target up is 112.23. The expected overbought levels rises to 110.22.

The next target down is 99.62, which is also support. The expected oversold level rises to 96.11.

[OB/OS channel is rising.] expect increasing volatility.
OVX (oil volatility) holding at 75; still very high.

(One of the larger components in the measure of inflation.The Hedgeye.com inflation nowcast now expects inflation rising in the 2nd thru the 4th quarters of 2026.)

[5-4-26: Hormuz news related rally. OVX rises to 80. No trade.]

 

NAT GAS_ NGM26

Weekly – In the January 2025 uptrend. Trade pressures remain down.  Volumes remain bearish.

Daily – Flat, The move up starts at 2.67.  Trade pressures are up.  Volumes are bullish.

The next target up is 2.81 resistance, then the 2.90’s. The expected overbought level rises to 2.86.

A close below 2.71 would signal lower.  The expected oversold level rises to 2.51.

[OB/OS channel is rising.]
Natural gas is produced with oil production. Natural gas production as a ratio of oil production has been rising, amounting to 47% of the permian basin oil production in 2024. Currently an overproduction of gas has created a glut; driving prices down.

[5-4-26: Rises to the resistance at 2.90.]

 

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGN26, MHGN26

Weekly – In the October 2025 uptrend. Trade pressures remain up, but declining. Volumes are now neutral.

Daily – Flat. In the new move up from 6.03 on 5/1. Trade pressures are down, but rising.  Volumes remain neutral.

The next target up is 6.08. The expected overbought levels decline to 6.15.

A close below  5.86 would signal lower. The expected oversold levels decline to 5.81.

[OB/OS channel is declining.]

[5-1-26: Stopped out at 6.03.] [Enter long on price improvement towards 5.86.]
[5-4-26: Downtrend continues, cancel the long entry.]

 

GOLD_ GCM26, MGCM26

Weekly – In the December 2023 uptrend, near support.  Trade pressures are down. Volumes are bearish.

Daily – Flat. The move down from 4796 on 4/19 is basing. Trade pressures are down.  Volumes are now neutral.

The next target down is 4549, take any short profit on a move toward that level. The expected oversold level declines to 4589.

A close above 4687 4639 would signal higher. The expected overbought level declines to 4721.

[OB/OS channel is declining.]  GVX rises to 26.40 – remaining in the investable zone.

[5-4-26: Profit stop at 4549 met. Flat.]

 

SILVER_ SIN26

Weekly – In the December 2023 uptrend. Trade pressures are down into the neutral zone.  Volumes remain neutral.

Daily – Flat. A break out above the bull flag trendline at 74.40 forces a stop of any down trade.  Trade pressures are now up.  Volumes remain bearish.

The next target up is 80.67. Overbought levels decline to 80.78.

A close below 72.68 would signal lower. The oversold levels decline to 69.98.

[OB/OS channel is declining.]

[5-1-26: weekly and daily don’t agree.No trade]

[5-4-26: The Friday breakout fails and is now retesting the breakout line. Support is at 71.05.]

 

S&P 500 Futures

#emini #spfutures #SP500 #ES, #MES

Market Summary:

Copper in a correction down. Gold and Silver both decline forming a bull flag. GVX declining, allowing risk.

Crude rallied on Iranian news, but now turning lower.  Natural Gas now turns lower.

The US 30yr Treasury retreats after testing the downward sloping median line.
The 10yr yields rise to 4.30%.
The expected overbought level for the 10yr yield declines to 4.35%.

The US Dollar – continues the move down.

_________________

S&P 500 Futures   #ESM26, #MESM26

Monthly –Monthly bar recovers and is making new ATH’s. Trade pressures remain up, but declining. Volumes closed the month of March as bearish.  The 7200 price is the adjusted high.  The next target up is 7258. A close below 6889 would signal a failure of the move up.

Weekly – The weekly bar breaks above the Oct 31 resistance line.  Trade pressures are in the neutral zone. Volumes remain bullish.  Moving higher off the prior week’s 6863 entry. The next target up is 7374. A close below 7025 would confirm any new daily move lower.

Daily – Long.  In the move up from the 6893 long entry on 4/13. Trade pressures remain up. Volumes remain bullish.

The next target up is 7301, which is also above the OB level.  The expected overbought level rises to 7218.

A close below 7027 would signal lower. The expected oversold level rises to 6875.

[OB/OS trend is rising.]
The VIX closes below 19 indicating market is investable.

[4-24-26: Hold the SL at 7099. This is the upward sloping trend line acting as a tight stop to reflect the nearby OB.]

[4-30-26: Raise the SL to 7109.]

__________________

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 reset to start at $100,000 for the 2026 year.

These Navellier Top 5 portfolio stocks closed:
Down 35% for the 2022 Year.
    Up 17% for the 2023 Year.
    Up 42% for the 2024 Year.
    Up 48% for the 2025 Year

Portfolio stock values for 2026. 
The portfolio value higher for the week, at $149,000.
The Year-to-Date portfolio performance is up 49%.

The S&P 500 YTD return is 3.84%

Quanta Svcs (PWR) will be replaced by Coherent (COHR) at the next open.

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXM26

Weekly –  In the March 2026 uptrend. Trade pressures are down. Volumes are bearish.

Daily – Short. After a corrective rally to 98.77, a short entry triggered at 98.43. Trade pressures are up.  Volumes are bullish.

The next target down is 98.00. The expected oversold levels rise to 97.90.

A close above 98.57 would signal higher  The expected overbought level declines to 98.99.

[The OB/OS channel is widening.]

[4-30-26: Close the short dollar trade.]

 

US30YR T-BOND_ USM26

Weekly – In the new March 2026 downtrend.  Trade pressures rise into the neutral zone.  Volumes are bearish.

Daily  – Flat. Stopped out at 113-25. Trade pressures remain down.  Volumes are now bearish.

The next target down is 112-28. Oversold levels rise to 112-26.

A close above 114-15 would signal higher. Overbought levels decline to 115-22.

[The OB/OS channel is widening.]

10yr yields rise to 4.30%.

[4-30-26: 10yr yield rises to 4.9 near the OB level. May buy  the 30 T-bond above 113.00.]

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLM26

Weekly – In the January 2026 uptrend. Trade pressures remain up, but declining. Volumes are now neutral.

Daily – No Trade, Flat. In the rally off the 86.98 long entry. Trade pressures are up.  Volumes are bullish.

The next target up is 99.52. The expected overbought levels declines to 100.99.

The next target down is 92.60, which is also the short entry. The expected oversold level rises to 84.04.

[OB/OS channel is narrowing.] expect decreasing volatility.
OVX (oil volatility) rises to 75; still choppy.

(One of the larger components used to measure inflation. The Hedgeye inflation nowcast now expects rising inflation in the 2nd thru the 4th quarters of 2026.)

[4-30-26: Remains in the uptrend. At upside resistance at 109. At the 109 OB level.]

 

NAT GAS_ NGK26

Weekly – In the January 2025 uptrend. Trade pressures remain down.  Volumes remain bearish.

Daily – Flat, The new move up failed with a break below 2.80, now 2.68.  Trade pressures are down.  Volumes are bearish.

The next target down is 2.65.  The expected oversold level rises to 2.50.

A close above 2.70 would signal higher. The expected overbought level declines to 2.80.

[OB/OS channel is narrowing.]
A glut of natural gas comes from the rise in oil production. Natural gas production as a ratio of oi production has been rising, amounting to 47% of the permian basin oil production in 2024.

[4-30-26: Rally off the lower median line parallel at 2.61.]

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGK26, MHGK26

Weekly – In the October 2025 uptrend. Trade pressures remain up. Volumes remain bullish.

Daily – Flat. The move up from 5.76 on 4/10 reached 6.13 and turned down. Trade pressures are up, turning down.  Volumes are neutral.

The close below 6.10 did signal lower. The next target down is 5.97. The expected oversold levels rise to 5.91.

A close above 6.07 would signal higher. The expected overbought levels decline to 6.18.

[OB/OS channel is narrowing.]

[4-30-26: Take Profit at 5.92, SL at 6.03. a close above 6.00 would signal higher.]

 

GOLD_ GCM26, MGCM26

Weekly – In the December 2023 uptrend.  Trade pressures are up; holding at the median line. Volumes are bearish.

Daily – Flat. The move down from 4796 on 4/19 continues. Trade pressures are down.  Volumes are bearish.

The next target down is 4693. The expected oversold level declines to 4645.

A close above 4763 would signal higher. The expected overbought level rises to 4891.

[OB/OS channel is widening.]  GVX drops to 25.80 – in the investable zone.

4-30-26: In a new 2hr uptrend at 4622. Buy dips below.]

 

SILVER_ SIK26

Weekly – In the December 2023 uptrend. Trade pressures remain down, but rising.  Volumes remain neutral.

Daily – Flat. In the move down from 79.13 on 4/19.  Trade pressures are down.  Volumes are bearish.

The next target down is 74.31. The oversold levels rise to 73.

A close above 76.95 would signal higher. Overbought levels rise to 84.

[OB/OS channel is rising.]

[4-30-26: Now at 73.50. Attempting a BOut of the bull flag. Be alert.]