US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ24

Weekly –  In the new August 2024 downtrend.  Trade pressures remain down. Volumes remain bearish.

Daily – Flat. The low pivot at 100.40 still holding. Lower FED rates; lower dollar. Trade pressures are down.  Volumes are now neutral.

The next target up is 101.73. The expected overbought level declines to 101.49.

A break below the 100.62 LML would signal lower. The expected oversold levels rises to 100.45.

 

US30YR T-BOND_ USZ24

Weekly – In a new August 2024 uptrend.  Trade pressures remain up.  Volumes remain bullish.

Daily  – Flat. In a new move up off the support at 122-16. Trade pressures are up.  Volumes remain bearish.

Made a new pivot high at 127-14. Overbought levels are 127-20.

A close below 126-07 would signal lower. Oversold levels 123-25.

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLV24

Weekly – In the September 2024 downtrend  after breaking support. Trade pressures are down. Volumes remain bearish.

Daily – Long. Signal at 68.38, but wait for the pullback towards 66.00.  Trade pressures are up.  Volumes remain bearish.

The next target up is 71.49. The expected overbought levels are lower at 72.49.

A close below 67.23 would signal lower. If long, use 67.23 as SL. The expected oversold level decline to 64.56.

 

NAT GAS_ NGV24

Weekly – In in a new August 2024 downtrend.  Trade pressures rising into the neutral zone.  Volumes remain are now bullish.

Daily – Flat.  In the move up from 2.14 on 9/2. At the upside resistance at 2.39. Trade pressures are up.  Volumes are bullish.

The next target up is 2.54. The expected overbought level rises to 2.40.

A close below 2.25 would signal lower. Set this 2.25 as the SL. The expected oversold level rises to 2.10.

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGZ24

Weekly – In the August 2024 downtrend. Trade pressures have risen into the neutral zone. Volumes are neutral.

Daily – Long. At the 200 day / 4.23 resistance. Trade pressures are up.  Volumes are bullish.

The February trendline support held. The expected oversold levels rise to 4.02.

A close above the 4.23 resistance would signal higher. The expected overbought levels have declined to 4.23.
But the overbought level suggests a pullback is likely.

[9-16-24: Missed the morning move up and now at overbought. Wait for a new setup.]

 

 

GOLD_ GCZ24

Weekly – In the December 2023 uptrend.  Trade pressures are up.  Volumes remain bullish.

Daily – Long, from the 2547 break on 9-12. Trade pressures are up.  Volumes are bullish.

The next target up is 2620. The expected overbought level has risen to 2599.

A close below 2597 (also the SL) would signal lower. The expected oversold level has risen to 2507.

 

SILVER_ SIZ24

Weekly – Still in the December 2023 uptrend.  Trade pressures are now up.  Volumes are now bullish.

Daily –Long. At 31.07, after breaking out again above the UML at 28.91. Trade pressures are up.  Volumes are bullish.

The next target up is 31.99. Overbought levels are 30.61.

A close below 30.32 would signal lower and is the SL.  Oversold levels are 28.19.

[9-16-24: Raise the SL to 30.98]

 

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

The 10yr yields decline to the 3.70%. Copper declines.  Gold retested the highs and declined.  Silver remains a short.

Crude drops to support.  Natural gas in a new move up.

The US 30yr Treasury Bond  rallies on interest rate cut prospects.

The US Dollar futures pull back but still long long.

_________________

S&P 500 Futures   #ESU24

Monthly –Monthly bar closes below the prior month low. Trade pressures remain up. Volumes closed the month of August as bullish.  The next target up remains 5958.  The close was just above the 5412; a break below would confirm the weekly move lower. The next target down would be 5067.

Weekly – The weekly closes down hard.  Trade pressures remain up, but continuing to show lower highs.  Volumes remain bullish.  Closed back below the new long entry trigger at 5454. The next target up is still 5829 (new highs).  A close below 5372 would confirm the daily move lower.

Daily – Short. In the move down after the break of the 5527 level. The short trade was stopped out with a profit stop at 5485, only to fall another 65 points. Trade pressures are down.  Volumes are bearish.  The next target down is 5369. The expected oversold level declines to 5452. A close above 5497 would signal higher. The expected overbought level has declined to 5634.

Should expect some reflex rally here. Set 5476 as a SL for the short.

___________________

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 2024 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024.  The portfolio value moves down to $138,000. The Year-to-Date portfolio performance is now up 38%.

[The author may be long or short any of these issues mentioned]

 

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ24

Weekly –  In the new August down trend.  Trade pressures remain down. Volumes are now bearish.

Daily – Long. The low pivot at 100.40 holds a second time; still long. Trade pressures are down.  Volumes remain bullish.

The next target up is 101.76. The expected overbought level rises to 101.99.

A break below the 100.40 pivot would signal lower.. The expected oversold levels rises to 100.26.

 

US30YR T-BOND_ USZ24

Weekly – In a new August 2024 uptrend.  Trade pressures remain up.  Volumes are bullish.

Daily  – Flat. In a new move up off the support at 122-16. Trade pressures are up.  Volumes remain bearish.

The next target up is 127-24. Overbought levels are 127-02.

A close below 125-07 would signal lower. Oversold levels 120-00.

 

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLV24

Weekly – In the September 2024 downtrend  after breaking support. Trade pressures are in the neutral zone. Volumes remain bearish.

Daily – Flat. The short entry was stopped out for a small loss.  Trade pressures are now down.  Volumes are bearish.

At the 67.78 downside target. The expected oversold level decline to 67.16.

At support. A close above 70.11 would signal higher. The expected overbought levels are lower at 74.44.

 

NAT GAS_ NGV24

Weekly – In in a new August 2024 downtrend.  Trade pressures remain down but rising.  Volumes remain bearish.

Daily – Long.  In the move up from 2.14 on 9/2 and rallies for the week to 2.28. Trade pressures are up.  Volumes are bullish.

The next target up is 2.38. The expected overbought level rises to 2.31.

A close below 2.18 would signal lower. Set this 2.18 as the SL. The expected oversold level rises to 2.07.

 

Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGZ24

Weekly – In the August 2024 downtrend. Trade pressures are below the neutral zone. Volumes are bearish.

Daily – Flat. Now lower with the global markets. Testing the February resistance line at 4.07. Trade pressures are down but rising.  Volumes remain bearish.

The lower median line parallel as support failed. The expected oversold levels decline to 4.01.

A close above 4.23 would signal higher. The expected overbought levels have declined to 4.29.

 

GOLD_ GCZ24

Weekly – In the December 2023 uptrend.  Trade pressures are up.  Volumes remain bullish.

Daily – Flat. Stopped out of the previous short trade. Price dropped as expected, then rallied to the same UML, then closed down on Friday. Trade pressures are up.  Volumes turn bearish again.

Expect a test of support at 2484; then a possible long. The expected oversold level has declined to 2477.

A close above 2547 would signal higher. The expected overbought level has risen to 2579.

 

SILVER_ SIZ24

Weekly – Still in the December 2023 uptrend.  Trade pressures are now up.  Volumes are now bullish.

Daily –Flat. The short trade was stopped out on 9/5. Trade pressures are in the neutral zone.  Volumes are bearish.

The next target down is 27.26.  Oversold levels are 27.86.

Expected support level remains 27.26. Look for a long entry there. A close above 28.91 would signal higher.  Overbought levels are 30.81.

 

S&P 500 Futures

#emini #spfutures #SP500 #ES

Market Summary:

The 10yr yields rising toward 4.00%. Copper is consolidating.  Gold is a short.  Silver is a short.

Crude long failed, now a short.  Natural gas rising.

The US 30yr Treasury Bond looking lower.

The US Dollar futures now long.

_________________

S&P 500 Futures   #ESU24

Monthly –Wide ranging bar closes on it’s high. Trade pressures remain up. Volumes closed the month of August as bullish.  The next target up remains 5958.  A close below 5412 would confirm any weekly move lower. The next target down would be 5067.

Weekly – The weekly closes just above the prior highs.  Trade pressures remain up but showing lower highs.  Volumes remain bullish.  Closed above the new long entry at 5454 on 8/23. The next target up is 5829 (new highs).  A close below 5381 would confirm any daily move lower.

Daily – Flat. Reverses the two day move down and rallies to test the downtrend line at 5665. Trade pressures are up but declining.  Volumes remain bullish.  The next target up is the 5721 prior high; then 5813. The expected overbought level has declined to 5647.  A close below 5527 would signal lower. The expected oversold level rises to 5506.

Both NVDA and the Inflation reports were benign. The market was quiet except for the rally at the close to square up positions into the 3 day, Labor Day weekend.

[9-4-24: Short entry triggered at 5527. Wait for a back-test at 5600 to enter if resistance holds.]

[9-5-24: Rallied back to broken support at 2555, short.  Set SL at 5557.  Take profits at 5485 ]

[9-6-24: Profit stop hit for a gain.]

___________________

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 2024 year.

The Navellier portfolio stocks closed down 35% for the 2022 Year.  The Navellier portfolio stocks closed up 17% for the 2023 Year.

Portfolio stock values for 2024.  The portfolio value moves up to $141,000. The Year-to-Date portfolio performance is now up 41%.

[The author may be long or short any of these issues mentioned]

At the open on September 3rd, WingStop (WING) and Costco (COST) will replace Targa Resources (TRGP) and Vertiv (VRT).

US$$

#usdollarfutures #ustreasurybondfutures

USD_ DXZ24

Weekly –  In the new August down trend.  Trade pressures remain down. Volumes are now bearish.

Daily – Long. The low pivot at 100.40 holds, and a new long is triggered at 101.08 on 8-30. Trade pressures are up.  Volumes are bullish.

The next target up is 102.08. The expected overbought level declines to 101.98.

At the 100.58 target. The expected oversold levels rises to 100.24.

 

US30YR T-BOND_ USZ24

Weekly – In a new August 2024 uptrend.  Trade pressures remain up.  Volumes are neutral.

Daily  – Flat. The lower highs translated to a move down to support at 122-10. Trade pressures are down.  Volumes are bearish.

the next target down is 121-06. Oversold levels remain 119-25.

A close above 124-04 would signal higher. Overbought levels are 125-23.

 

Oil & Gas

#crudeoilfutures #naturalgasfutures

CRUDE_ CLV24

Weekly – In the March 2024 uptrend and above support. Trade pressures are in the neutral zone. Volumes are bearish.

Daily – Flat. The short entry was stopped out for a small loss.  Trade pressures are now down.  Volumes are now bullish.

The next target down 71.92. The expected oversold level rises to 71.15.

The next target up is 76.12 and expected support level is 72.67. The expected overbought levels are lower at 77.74.

 

NAT GAS_ NGV24

Weekly – In in a new August 2024 downtrend.  Trade pressures remain down but rising.  Volumes remain bearish.

Daily – Flat.  Basing at the 2.00 level. Trade pressures are rising into the neutral zone.  Volumes remain bearish.

The next target down is 1.93 with support is at 2.09. The expected oversold level declines to 1.92.

A close above 2.14 would signal higher. The expected overbought level declines to 2.24.