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Z5 Fri, 26 January 2024

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Z5 Wed, 10 January 2024

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Z5 Fri, 29 December 2023

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Z5 Thur, 28 December 2023

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Z5 Wed, 27 December 2023

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Z5 Tue, 26 December 2023

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11 September 2018 – Is the uptrend about to continue?

Indices
Dow Transportation closed at 11534.57 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 75.17. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Bullish. Fractal Bias – Bullish.

Dow Industrial closed at 25971.06 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 265.6. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction – Sell. It is in a weekly Squeeze. Fractal Bias – Neutral.

Russell 2000 closed at 1718.4039 with a spinning top doji candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 13.1557. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Sell. Fractal Bias – Bullish.

Nasdaq 100 closed at 7507.8722 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 117.73. Intermediate Cycle is negative and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Buy.

S&P 500 closed at 2887.89 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 25.74. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bullish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $69.91 per barrel with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 2.53. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Buy.

Gold futures (GC) closed at 1203.6 with a “hammer” candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 12.1. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Buy. Fractal Bias – Neutral.

Agriculture (DBA) ETF closed at 17.05 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.18. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Bullish. Fractal Bias – Bearish.

Commodities (DBC) ETF closed at 17.38 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.205. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.

Bonds
Bond futures (/ZB) closed at 142’02 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.969. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

High Yield bond ETF (HYG) closed at 85.89 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.22. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Neutral. It is in a weekly Squeeze. Fractal Bias – Bearish.

Currency
The dollar index ($DXY) closed at 95.105 with a spinning top doji candle intertwined with its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.4709. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Neutral.

EUR/USD closed at 1.1603 with a spinning top doji candle intertwined with its 8 EMA, 50 SMA and 21 EMA. Daily trading range was 0.0078. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Sell. Fractal Bias – Neutral.

USD/JPY closed at 111.62 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.58. Intermediate Cycle is positive and flat. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily and Weekly Squeeze. Fractal Bias – Bearish.

6S (Swiss Franc) – closed at 1.0289 with a bullish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.0041. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Sell. It is in a weekly Squeeze. Fractal Bias – Bullish.

Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLI, XLY, XLB, XLV and XLK.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLU, XLI, XLK, XLY, XLF and XLP respectively.

Market Internals
Market sentiment remains Bullish. Market breadth is sloping downward showing more losers than gainers. Volume Accumulation/ Distribution is sloping upward showing accumulation. Skew is at 147.88. Vix is at 13.22 and Vix futures is at 14.35.

The Week Ahead
Market internals are giving mixed message. Vix has gone down as well as Vix futures. Skew is rather elevated. Market sentiment remains bullish. The prognosis is for the uptrend to continue.

To YOUR wealth!

Would you like to learn to trade stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.


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