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ETFs, Stocks And Futures Swings Report Trading Instructions: May 23

Published 05/23/2016, 08:10 AM
Updated 07/09/2023, 06:31 AM

Crude Oil

Weekly summary

Trend momentum: 43.31 bullish

Price momentum: 47.59 bullish

Price indicator:

Exit long

s2) 50.39

s1) 49.03

Exit shorts:

b1) 46.23

b2) 44.79

Weekly Moving Averages

The contract closed at 47.67 the market closing above the 9 sma 43.31 is confirmation that the trend momentum is bullish. A close below the 9 sma would negate the weekly bullish short-term trend to neutral.

Weekly Momentum Indicator

With the market closing above the vc weekly price momentum indicator of 47.59 it confirms that the price momentum is bullish. A close below the vc weekly, it would negate the bullish signal to neutral.

Weekly Price Indicator

Cover short on corrections at the 46.23 – 44.79 levels and go long on a weekly reversal stop. If long, use the 44.79 level as a stop close only and good till cancelled order. Look to take some profits on longs, as we reach the 49.03 – 50.39 levels during the week.

ES

Weekly Summary

Trend momentum: 2057 bearish

Price momentum: 2047 bullish

Price indicator:

Exit longs:

s2) 2095

S1) 2073

Exit shorts:

b1) 2025

b2) 1999

Weekly Moving Averages

The contract closed at 2050 the market closing below the 9 sma 2056 is confirmation that the trend momentum is bearish. A close above the 9 sma would negate the weekly bearish short-term trend to neutral.

Weekly Momentum Indicator

With the market closing above the vc weekly price momentum indicator of 2047 it confirms that the price momentum is bearish. A close above the vc weekly, it would negate the bearish signal to neutral.

Weekly Price Indicator

Cover short on corrections at the 2025 – 1999 levels and go long on a weekly reversal stop. If long, use the 1999 level as a stop close only and good till cancelled order. Look to take some profits on longs, as we reach the 2073 – 2095 levels during the week.

Direxion Daily Gold Miners Bear 3X Shares (NYSE:DUST)

Weekly Summary

Trend momentum: 21.20 bearish

Price momentum: 14.51 bearish

Price indicator:

Exit longs:

s2) 19.73

s1) 16.92

Exit shorts

b1) 12.07

b2) 9.65

Weekly Moving Averages

The contract closed at 14.48. The market closing below the 9 sma 21.20 is confirmation that the trend momentum is bearish. A close above the 9 sma would negate the weekly bearish short-term trend to neutral.

Weekly Momentum Indicator

With the market closing below the vc weekly price momentum indicator of 14.51 it confirms that the price momentum is bearish. A close above the vc weekly, it would negate the bearish signal to neutral.

Weekly Price Indicator

Cover short on corrections at the 12.07 – 9.65 levels and go long on a weekly reversal stop. If long, use the 9.65 level as a stop close only and good till cancelled order. Look to take some profits on longs, as we reach the 16.92 – 19.37 levels during the week.

Corn

Weekly Summary

Trend momentum: 3.76 bullish

Price momentum: 3.93 bullish

Price indicator:

Exit longs:

s2) 4.08

s1) 4.01

Exit short

b1) 3.87

b2) 3.80

Weekly Moving Averages

The contract closed at 3.95 the market closing above the 9 sma 3.76 is confirmation that the trend momentum is bullish. A close below the 9 sma would negate the weekly bullish short-term trend to neutral.

Weekly Momentum Indicator

With the market closing above the vc weekly price momentum indicator of 3.94 it confirms that the price momentum is bullish. A close below the vc weekly, it would negate the bullish signal to neutral.

Weekly Price Indicator

Cover short on corrections at the 3.87 – 3.80 levels and go long on a weekly reversal stop. If long, use the 3.80 level as a stop close only and good till cancelled order. Look to take some profits on longs, as we reach the 4.01 – 4.07 levels during the week.

Direxion Daily Junior Gold Miners Bull 3X Shares (NYSE:JNUG)

Weekly Summary

Trend momentum: 123.08 bullish

Price momentum: 148.31 bearish

Price indicator:

Exit longs:

s2) 215.31

s1) 179.62

Exit shorts:

b1) 112.63

b2) 81.31

Weekly Moving Averages

The contract closed at 143.93 the market closing above the 9 sma 123.08 is confirmation that the trend momentum is bullish. A close below the 9 sma would negate the weekly bullish short-term trend to neutral.

Weekly Momentum Indicator

With the market closing above the vc weekly price momentum indicator of 148.31 it confirms that the price momentum is bullish. A close below the vc weekly, it would negate the bullish signal to neutral.

Weekly Price Indicator

Cover short on corrections at the 112.62 – 81.31 levels and go long on a weekly reversal stop. If long, use the 81.31 as a stop close only and good till cancelled order. Look to take some profits on longs, as we reach the 179.62 – 215.31 levels during the week.

Direxion Daily Gold Miners Bull 3X Shares (NYSE:NUGT)

Weekly Summary

Trend momentum: 82.13 bullish

Price momentum: 98.22 bullish

Price indicator:

Exit longs:

s2) 122.04

s1) 111.45

Exit shorts

b1) 87.64

b2) 74.42

Weekly Moving Averages

The contract closed at 100.87 the market closing above the 9 sma 82.13 is confirmation that the trend momentum is bullish. A close below the 9 sma would negate the weekly bullish short-term trend to neutral.

Weekly Momentum Indicator

With the market closing above the vc weekly price momentum indicator of 98.22, it confirms that the price momentum is bullish. A close below the vc weekly, it would negate the bullish signal to neutral.

Weekly Price Indicator

Cover short on corrections at the 87.64 – 74.42 levels and go long on a weekly reversal stop. If long, use the 74.42 level as a stop close only and good till cancelled order. Look to take some profits on longs, as we reach the 111.45 – 122.04 levels during the week.

VelocityShares 3x Long Silver linked to S&P GSCI Silver ER Exp 14 Oct 2031 (NASDAQ:USLV)

Weekly Summary

Trend momentum: 15.36 bearish

Price momentum: 17.93 bearish

Price indicator:

Exit longs:

s2) 19.09

s1) 18.05

Exit shorts

b1) 13.97

b2) 12.72

Weekly Moving Averages

The contract closed at 15.22. The market closing below the 9 sma 15.36 is confirmation that the trend momentum is bearish. A close above the 9 sma would negate the weekly bearish short-term trend to neutral.

Weekly Momentum Indicator

With the market closing below the vc weekly price momentum indicator of 15.94, it confirms that the price momentum is bearish. A close above the vc weekly, it would negate the bearish signal to neutral.

Weekly Price Indicator

Cover short on corrections at the 13.97 – 12.73 levels and go long on a weekly reversal stop. If long, use the 12.73 level as a stop close only and good till cancelled order. Look to take some profits on longs, as we reach the 17.18 – 19.15 levels during the week.

ProShares Ultra Bloomberg Crude Oil (NYSE:UCO)

Weekly Summary

Trend momentum: 10.57 bullish

Price momentum: 12.60 bullish

Price indicator:

Exit longs:

s2) 13.80

s1) 13.21

Exit shorts

b1) 12.01

b2) 11.40

Weekly Moving Averages

The contract closed at 12.62. The market closing above the 9 sma 10.57 is confirmation that the trend momentum is bullish. A close below the 9 sma would negate the weekly bullish short-term trend to neutral.

Weekly Momentum Indicator

With the market closing above the vc weekly price momentum indicator of 12.60, it confirms that the price momentum is bullish. A close below the vc weekly, it would negate the bullish signal to neutral.

Weekly Price Indicator

Cover short on corrections at the 12.01 – 11.40 levels and go long on a weekly reversal stop. If long, use the 11.40 level as a stop close only and good till cancelled order. Look to take some profits on longs, as we reach the 13.21 – 13.80 levels during the week.

Disclaimer: the information in the market commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed herein constitutes a solicitation of the purchase or sale of any futures or options contracts.

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