WEEKLY SUMMARY
TREND MOMENTUM: 38.58 Bullish
PRICE MOMENTUM: 39.18 Bullish
PRICE INDICATOR:
EXIT LONG
S2) 44.64
S1) 42.78
EXIT SHORTS:
B1) 37.23
B2) 33.72
WEEKLY MOVING AVERAGES
The contract closed at 40.93 The market closing above the 9 SMA 38.58 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 39.18 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 37.23 – 33.72 levels and go long on a weekly reversal stop. If long, use the 33.72 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 42.78 – 44.64 levels during the week.
WEEKLY SUMMARY
TREND MOMENTUM: 1984 Bullish
PRICE MOMENTUM: 2046 Bearish
PRICE INDICATOR:
EXIT LONGS:
2) 2093
1) 2068
EXIT SHORTS:
2021
- 1999
WEEKLY MOVING AVERAGES
The contract closed at 2042 The market closing above the 9 SMA 1984 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 below The VC Weekly Price Momentum Indicator of 2046 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 2021 – 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 2068 – 2093 levels during the week.
Direxion Daily Gold Miners Bear 3X Shares (NYSE:DUST)
WEEKLY SUMMARY
TREND MOMENTUM: 3.86 Bearish
PRICE MOMENTUM: 2.84 Bearish
PRICE INDICATOR:
EXIT LONGS:
S2) 3.77
S1) 3.17
EXIT SHORTs
B1) 2.24
B2) 1.91
WEEKLY MOVING AVERAGES
The contract closed at 2.56. The market closing below the 9 SMA 3.86 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 2.84 it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bullish signal to neutral.
WEEKLY PRICE INDICATOR
Cover short on corrections at the 2.24 – 1.91 levels and go long on a weekly reversal stop. If long, use the 1.91 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 3.17 – 3.77 levels during the week.
WEEKLY SUMMARY
TREND MOMENTUM: 8.92 Bullish
PRICE MOMENTUM: 9.13 Bullish
PRICE INDICATOR:
EXIT LONGS:
2) 9.34
1) 9.26
EXIT SHORTS
- 9.05
- 8.92
WEEKLY MOVING AVERAGES
The contract closed at 9.17 The market closing above the 9 SMA 8.92 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 9.13 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 9.05 – 8.92 levels and go long on a weekly reversal stop. If long, use the 8.92 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 9.25 – 9.34 levels during the week.
Direxion Daily Junior Gold Miners Bull 3X Shares (NYSE:JNUG)
WEEKLY SUMMARY
TREND MOMENTUM: 71.03 Bullish
PRICE MOMENTUM: 85.85 Bullish
PRICE INDICATOR:
EXIT LONGS:
2) 91.44
1) 84.01
EXIT SHORTS:
- 77.47
- 61.68
WEEKLY MOVING AVERAGES
The contract closed at 93.27. The market closing above the 9 SMA 71.03 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 85.85, 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 77.47 – 61.68 levels and go long on a weekly reversal stop. If long, use the 61.68 as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 101.64 – 110.02 levels during the week.
Direxion Daily Gold Miners Bull 3X Shares (NYSE:NUGT)
WEEKLY SUMMARY
TREND MOMENTUM: 59.36 Bullish
PRICE MOMENTUM: Bearish
PRICE INDICATOR: 66.08
EXIT LONGS:
2) 84.25
1) 77.75
EXIT SHORTS
1) 59.28
2) 47.91
WEEKLY MOVING AVERAGES
The contract closed at 71.26 The market closing above the 9 SMA 59.36 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 below The below VC Weekly Price Momentum Indicator of 60.08, 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 59.58 – 47.90 levels and go long on a weekly reversal stop. If long, use the 47.90 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 77.25 – 84.25 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: 12.86 Bearish
PRICE MOMENTUM: 12.26 Bullish
PRICE INDICATOR:
EXIT LONGS:
2) 13.36
1) 12.97
EXIT SHORTS
1) 11.87
2) 11.16
WEEKLY MOVING AVERAGES
The contract closed at 12.58. The market closing below the 9 SMA 12.86 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 12.26, 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 11.87 – 11.16 levels and go long on a weekly reversal stop. If long, use the 11.16 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 12.97 – 13.36 levels during the week.
ProShares Ultra Bloomberg Crude Oil (NYSE:UCO)
WEEKLY SUMMARY
TREND MOMENTUM: 8.69 Bullish
PRICE MOMENTUM: 8.89 Bullish
PRICE INDICATOR:
EXIT LONGS:
1) 10.85
1) 10.16
EXIT SHORTS
1) 8.20
2) 6.93
WEEKLY MOVING AVERAGES
The contract closed at 9.46. The market closing above the 9 SMA 8.69 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 8.89, 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 8.20 6.93 levels and go long on a weekly reversal stop. If long, use the 6.93 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 10.17 – 10.85 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.