Technical analysis on the stock market via QQQ along with SOXX (semiconductor ETF) followed by the outlook for the energy sector via crude oil & natural gas. Several trade ideas on indivudial stocks & ETFs are included at the end of the video. Note: Playback speed can be increased in the video settings to reduce the duration of the video.
This is the 5th & final video for today covering the sectors & commodities that look to either be setting up or currently offering objective trading opportunities. This video starts out with a quick look at the charts of natural gas & gasoline followed by updates on the various agricultural commodities that have recently been highlighted as both swing trading opportunities as well as potential bottoming plays (longer-term trend trades/investments).
The following video covers both the near & longer-term outlook for various commodity tracking ETNs & ETFs. In addition to stand-alone swing trading opportunities, commodities can also provide diversification within an investment portfolio or trading account due to their low correlation with stocks, bonds or other asset classes. The following ETP's are covered in this order: GAZ, UNG, SOYB, CUT, WOOD, KOL, JJC, UGA, WEAT, CORN, USO, DBA, JJG, OIL, COW, JO, SGG & NIB.
In the comment section below today's Index & Sector Analysis video, in which I briefly touched on natural gas, member @murphydoc inquired: 'So is Nat gas a buy? What would be your target?' Although I'm personally long nat gas, I decided not to add it as an official trade idea because I'd prefer to see the charts firm up a bit more before doing so. Although my entry was based on what I think was a sound technical case, it was most certainly an aggressive, 'catch-a-falling-knife' trade. Fortunately, or at least so far, I was able to go long right at [...]
The UGAZ (3x Long Natural Gas ETF) Active Short Trade gapped below T1 to open at 35.26 today, which is where any standing BTC limit orders on the Active Short Trade would have been filled, thereby providing a 25.5% gain in just 5 trading session. Consider booking partial or full profits and/or lowering stops, depending on your trading plan. T2 (31.44) remains the final target at this time. Previous & 60-minute charts of UGAZ below & I've also included a 60-minute chart of $NG with some support levels/potential targets for anyone trading nat gas futures.
The UGAZ (3x long natural gas ETN) official short trade has traded as low as 40.00 so far today in the pre-market session (not reflected on this chart) which is just below the 41.40 support level with $NG (natural gas futures) having hit my initial & minimum downside target of 3.55. That's a 15.4% gain from the short entry on UGAZ Friday so one might opt to book partial or full profits here although the official targets will now be set at 36.12 & 31.44 (subject to revision based on the charts of nat gas futures). Suggested stop at this point [...]
The following charts & notes outline the criteria & suggested trading proxies for a swing trade on natural gas.