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Z5 Fri, 19 July 2024

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Z5 Thur, 18 July 2024

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Z5 Wed, 17 July 2024

Z5 Daily
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Z5 Wed, 10 July 2024

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Z5 Tue, 9 July 2024

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Z5 Mon, 8 July 2024

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Z5 Fri, 5 July 2024

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Z5 Wed, 3 July 2024

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Z5 Mon, 1 July 2024

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Z5 Fri 28 June 2024

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Z5 Thur, 27 June 2024

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13 September 2018 – Indices up, uncertainty on Trade war

Indices
Dow Transportation closed at 11462.27 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 127.22. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and falling slope. Market direction – Buy. Fractal Bias – Bullish.

Dow Industrial closed at 26145.99 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 192.72. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Bullish. Fractal Bias – Bullish.

Russell 2000 closed at 1714.3199 with a spinning top doji candle below its 8 EMA and on its 21 EMA and above its 50 SMA. Daily trading range was 10.6745. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Sell. Fractal Bias – Bullish.

Nasdaq 100 gapped up and closed at 7561.69 with a bullish candle above its 8 EMA, 21 EMA and above its 50 SMA. Daily trading range was 90.7. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Bullish.

S&P 500 gapped up and closed at 2904.18 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 17.84. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $70.3 per barrel with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.95. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Bullish.

Gold futures (GC) closed at 1206.4 with a bearish candle on its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 13. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bearish.

Agriculture (DBA) ETF closed at 17.08 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.15. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Bearish.

Commodities (DBC) ETF closed at 17.31 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.25. 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 142’07 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.7187. 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) gapped up and closed at 86.25 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.22. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a weekly Squeeze. Fractal Bias – Bearish.

Currency
The dollar index ($DXY) closed at 94.54 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.54. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

EUR/USD closed at 1.1689 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0091. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.

USD/JPY closed at 111.91 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.827. Intermediate Cycle is positive and rising. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily and Weekly Squeeze. Fractal Bias – Bullish.

6S (Swiss Franc) – closed at 1.0361 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0057. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Neutral. 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, XLV, XLB 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 and XLP respectively.

Market Internals
Market sentiment is rather Bullish. Market breadth is sloping downward showing more losers than gainers. Volume Accumulation/ Distribution is sloping upward showing accumulation. Skew is at 150.64. Vix is at 12.37 and Vix futures is at 13.35.

The Week Ahead
Market internals are giving mixed message. As the S&P 500 trend upwards, vix has gone down. Vix futures has gone down as well while SKEW has gone up to above 150 which is rather elevated. Market sentiment is elevated as well. The prognosis is for a slow grind upwards and volatility along the way.

To YOUR wealth!

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