26
Sep
Wrap – Week Ended 9/24/21
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Turbulent week with the ZLT ending modestly green for the five days of China debt fear swoon and subsequent China oh-it's-OK-now action.
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Free Stuff Last Week: None
Holdings Watch:
- We added to on natural gas name, and two infrastructure/solar plays last week,
- The Blotter is updated
- The Positions page is updated
Numbers of Note from The Wrap Table below:
- Frac spreads are jumping up now after a mid year stall hitting another new cycle high last week. As owners in three pressure pumpers we can say we've had enough the shared pain for awhile. Time for the shared gain. Price traction needs to be more evident in the 3Q21 reports.
- Brent ended a second week north of $75. The Brent to WTI premium continues to expand.
- The natural gas net short position remains close to its most net short level of the year.
- The 2022 and 2023 natural gas strips speak for themselves. The Street is far below these levels. Look for a little mark-to-reality action when we get the quarterly mark-to-market action post quarter. Estimates for the gassy group are headed higher.
Questions under The Wrap will be addressed in the Subscriber Mailbag section of the Monday post.
Quests about the site can be directed to zman@zmansenergybrain.com.
Have a great rest of the weekend,
Z
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XOP
Weekly..Trending with strong demand volume…next upside target at 108
https://i.postimg.cc/fLjyjckV/xop.png
Daily Trending..Strong demand volume..next upside target at 96.76
https://i.postimg.cc/sgQ20dvd/xopdaily.png
65 Minute Trending..Demand volume starting to fade a little. Hit upside target at 92.75..watching this area for continuation or pullback to short term support around 90.15
September 26th, 2021 at 11:57 amhttps://i.postimg.cc/mDbB402r/xop-65.png
COP
September 26th, 2021 at 12:04 pmWeekly..Price at previous major swing highs and previous acceptance/POC around 66.50 …Watching for profit taking here.
https://i.postimg.cc/CKqp4YLR/cop.png
Daily Major breakout from monthly value……
https://i.postimg.cc/505cZ3z1/cop-1.png
AR
September 26th, 2021 at 12:06 pmWeekly Quite ride eh? Coming into major previous acceptance/supply around 18.63…Expeting at least a pause here…
https://i.postimg.cc/cJkHjdQ0/ar.png
Daily Breakout from value continues…Watching for profit taking to begin 18-19.
https://i.postimg.cc/HsrJCc6R/daily.png
CRK
September 26th, 2021 at 12:07 pmWeekly..Break above value at 6.08 on big volume carried this one a lot further than I expected…
Daily Still watching this one…I blew this one big time..was out at 7. Ran up and by the VPOCs at 7 and at 8.55…might be interesting to see what a retest of 8.55
https://i.postimg.cc/rFK5VFV0/crkdaily.png
Seemed like there were better fish to fry though..
NEX
September 26th, 2021 at 12:08 pmWeekly…Multiple bounces off long term value…Strong demand volume on each run. Profit taking has been at 5.50 so far.
https://i.postimg.cc/YqxFpGgx/nexwk.png
Daily …Watch for pause or continuation at 5.38, third time up to this level this year…
https://i.postimg.cc/MH7QfXLq/nexdaily4.png
LBRT
September 26th, 2021 at 12:09 pmWeekly..Bounced off yearly value/support. Good demand volume
https://i.postimg.cc/ydvNM92J/lbrt.png
Daily Broke above monthly value on good demand volume. Looking for a test/pause at 11.85…
https://i.postimg.cc/3xX3MmvK/lbrt-daily.png
Solar Struggles
September 26th, 2021 at 12:10 pmSHLS
Daily…Testing bottom of value..If/when it breaks lower next support at 27.43..Waiting for some sign of demand on any lower time frame at either the value area low or support lower
https://i.postimg.cc/4dL9zrfF/shls.png
ENPH Drifting to the lower end of value for this month again. A break below 150 targets 138…A hold at 150-152 with demand volume ight be interesting but no sign of demand
in any time frame yet…
https://i.postimg.cc/SN7zd2xM/enphdaily.png
ARRY
Daily…Demand volume turning over here. Small ledge of intraday support at 17.18..below that a volume gap and 15.50 comes into play, perhaps rather quickly..
https://i.postimg.cc/C59J4Zht/arry.png
Re IEA ect…From Bank of America.
https://i.postimg.cc/DynTVV04/infrastructure.png
https://i.postimg.cc/WpmBw98N/infrasture-2.png
September 26th, 2021 at 12:36 pmIEA….At important long term level…
Weekly chart shows the bounce off yearly value area highs….Important base of support…..
Daily chart shows bottom of value for this month at 11.94, resistance. Needs to get above that level with increased demand volume before I’m interested again….
Weekly
September 26th, 2021 at 12:39 pmhttps://i.postimg.cc/25HXsKc4/ieaweek.png
Daily
https://i.postimg.cc/j5m35Jr2/iea.png
VWDRY
September 26th, 2021 at 12:46 pmWeekly Uptrend continues.Closed above 10 Week moving average for 8 consecutive weeks…
https://i.postimg.cc/XJKnFnX3/vwdryweekly.png
TPIC
September 26th, 2021 at 12:53 pmWeekly… Testing important long term support.
https://i.postimg.cc/YqWbxjM1/tpicweekly.png
Daily…Ugly downtrend continues…still looking for a bottom
https://i.postimg.cc/nV0Cw1cx/tpicdaily.png
S&P Futures
Daily..Glass is half bull above point of control @ 4433…
Range bound between 4477 and 4383….
https://i.postimg.cc/FRcsFj0P/esdaily.png
Short term support watch at 4412 on any intraday pullbacks…
September 26th, 2021 at 1:14 pmhttps://i.postimg.cc/9M3Ckrsy/es60.png
XLE Big Caps
September 26th, 2021 at 1:24 pmWeekly..Choppy uptrend..closing above 10 week MA. Demand volume positive..
https://i.postimg.cc/43YdVqhy/xleweekly.png
Daily…Breakout on good demand volume…
https://i.postimg.cc/k5RJBSkt/xle.png
Russell Small Caps
Weekly…long term range/Base?
https://i.postimg.cc/vB8VJ31d/rtyweekly.png
Daily Range bound…breakout above 2260
September 26th, 2021 at 3:05 pmhttps://i.postimg.cc/8z8rp1F4/rtyd.png
Thanks for all the levels Zorg.
September 26th, 2021 at 7:08 pmNot exactly news but making the rounds again.
https://www.reuters.com/article/iran-nuclear-iaea-int/iran-fails-to-fully-honour-agreement-on-monitoring-equipment-iaea-says-idUSKBN2GM0I3
September 26th, 2021 at 7:12 pmWTI > $75
September 26th, 2021 at 8:34 pm#18…Yessir!
September 26th, 2021 at 10:02 pmhttps://i.postimg.cc/fTHxPXW1/cl1.png
#2 Needs moderator action…
September 26th, 2021 at 10:36 pmGoHogs…
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September 27th, 2021 at 4:38 am