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Z5 Fri, 29 December 2023

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Z5 Tue, 26 December 2023

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1 November 2018 – Volatility continues, Bulls are out and about

Indices
Dow Transportation closed at 10368.52 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 233.72. Intermediate Cycle is negative and rising slope. Short Term Cycle is negative and rising slope. Market direction – Sell. Fractal Bias – Bullish.

Dow Industrial closed at 25380.74 with a bullish candle above its 8 EMA and 200 SMA and on its 21 EMA and below its 50 SMA. Daily trading range was 461.91. Intermediate Cycle is negative and rising slope. Short Term Cycle is negative and rising slope. Market direction – Sell. Fractal Bias – Bullish.

Russell 2000 closed at 1544.9803 with a bullish marubozu candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 35.73. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bullish.

Nasdaq 100 closed at 7069.1712 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and on its 200 SMA. Daily trading range was 139.628. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bullsh.

S&P 500 closed at 2711.74 with an inverted hammer candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 54.06. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bullish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $63.54 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.28. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

Gold futures (GC) closed at 1235.3 with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 23.2. Intermediate Cycle is positive and falling. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish.

Agriculture (DBA) ETF closed at 17.62 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 0.28. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish.

Commodities (DBC) ETF closed at 16.84 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.29. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

Bonds
Bond futures (/ZB) closed at 138’10 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.706. Intermediate Cycle is negative and rising slope. Short Cycle is negative and flat. Market direction: Bullish. Fractal Bias – Neutral. It is in a Squeeze.

High Yield bond ETF (HYG) closed at 84.32 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.41. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias- Bearish.

Currency
The dollar index ($DXY) closed at 96.298 with a big bearish candle below its 8 EMA and its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.917. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Bullish. It is in a Weekly Squeeze.

EUR/USD closed at 1.1407 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0117. Intermediate Cycle is negative and falling. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bearish.

USD/JPY closed at 112.69 with a bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.414. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.

6S (Swiss Franc) – closed at 1.0018 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0084. Intermediate Cycle is negative and falling. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bearish.

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

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

Market Internals
Market Sentiment has turned bullish. Market Breadth is rising with more gainers then losers. Volume Accumulation/Distribution is sloping upwards which means the market is in accumulation mode. Vix is at 19.34. Vix futures is at 19.75. Skew is at 118.28.

The Week Ahead
Market had a volatile day and ended up an Up day. Market internals are starting to be bullish again with accumulation and positive market breadth. Skew is normal and Vix and Vix futures are dropping. The prognosis is for the market to start trending upwards again.

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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