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.
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.
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.