19
Jun
Wrap – Week Ended 06/18/21
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Zman's Energy Brain - Online Energy Research - 6 days a week since 2006 (see that calendar of posts at left scroll down ... way down) - (upstream analyst since the 1990's). Oil, natural gas, oil service, and select renewables.
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Holdings Watch:
- We closed a fairly long held position in FLMN this week, up 22% excluding dividends.
- We added to a new Oil Service name and an EV play.
- The Blotter is updated.
Recent Posts - it may be summer but we're keeping busy
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Thanks dad for everything, everyone have a great Fathers Day, Juneteenth, and a good weekend all around.
Best,
Z
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S&P Futs….Trading below major acceptance at 4182…Breadth and demand volume negative. Next potential support around 4120 at April-May’s value area lows. Money not leaving the market though…Tech/Growth rotation last week…
https://i.postimg.cc/sxs1MC56/es.png
riffing of Z’s comments on the DJIA late Friday…
June 20th, 2021 at 3:20 pmAs a fun exercise I ran a back test (hypothetical) on taking a mechanical trade on the next open of the S&P when it dips to this degree while still above it’s 200 MA…and then selling the bounce after a measured amount..
Result below..
https://i.postimg.cc/k4KQPwg9/spy.png
BCEI Trading in the price volume gap…88.56 is potential support at May and April’s value area highs and recent breakout levels.
June 20th, 2021 at 4:15 pmhttps://i.postimg.cc/9MGvQrP9/baa-cei.png
AR VEI SWN all traded to levels of interest/support…AR and VEI showing relative strength in O&G.
June 20th, 2021 at 4:23 pmAR Held Value area lows for June..Traded up from open..
https://i.postimg.cc/fT0Ytmt1/ar.png
VEI Found buyers above defined support at 14.20..Trading up from the open.
https://i.postimg.cc/MpStzdP9/vei.png
SWN Traded to defined support..
https://i.postimg.cc/MKkmY9Sz/swn.png
Solar ETF held above the important 80.50 levle mainly on the back of ENPH…Only three of eighteen solar stocks green in the group on Friday….Group and most of the stocks trading in heavy congestion. MAXN RUN ENPH NOVA relative strength leaders…
TAN
https://i.postimg.cc/3r98TxK6/tan-1.png
ENPH Demand volume remains strong. Stock is extended now coming into resistance at 172.50, previous post earnings breakdown level..
https://i.postimg.cc/90DNKbXc/enph.png
MAXN trading above major acceptance after breaking from it’s 4 week bottoming base…Demand volume flat now…
https://i.postimg.cc/sgmqBvLd/maxn.png
RUN Strong price and demand volume strong in multiple time frames last week. Trading in heavy congestion. Potential support at 48.50 if it dips..High short interest..
June 20th, 2021 at 5:51 pmhttps://i.postimg.cc/J0cVPKpt/run.png
Crude Oil Futs..Demand volume flattening but still positive out after price became extended in nearly every time frame from hourly to weekly. Unlike the metals, so far it looks like consolidation.
June 20th, 2021 at 6:09 pmDaily
https://i.postimg.cc/MHhMm6rz/cl2.png
65 Minute..Strong reversals on the past two tests below 70 this month..
https://i.postimg.cc/FsrswJ3w/69-78.png
NG Futs…Demand volume flattening out but still supportive…Acceptance has been higher each week since late May and seven out of eight weeks since April adding support for any down side test…
June 20th, 2021 at 6:18 pmhttps://i.postimg.cc/j200KBDM/ng.png
Noting…
GP High volume rejection of major acceptance at 18.40….Getting traction..headed higher..
https://i.postimg.cc/SN0kQJXN/GP.png
PTRA On conversion broke support at 18, resistance now.
June 20th, 2021 at 7:10 pmhttps://i.postimg.cc/3wWfsFFS/ptra.png