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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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27 November 2018 – An Up day. Time of reckoning

Indices
Dow Transportation closed at 10505.81 with a small bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 115.22. Intermediate Cycle is negative and rising slope. Short Term Cycle is negative and falling slope. Market direction – Sell. Fractal Bias – Bullish.

Dow Industrial closed at 24748.73 with a bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 334.7. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. Fractal Bias – Bearish.

Russell 2000 closed at 1492.8553 with a small bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 14.69. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bullish.

Nasdaq 100 closed at 6701.0362 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 106.325. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.

S&P 500 closed at 2682.17 with a bullish candle on its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 26.64. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $52.09 per barrel with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.08. 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 1214.5 with bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 13.8. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a weekly Squeeze.

Agriculture (DBA) ETF closed at 17.09 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.09. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a weekly Squeeze.

Commodities (DBC) ETF closed at 15.31 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.25. 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 139’28 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.5. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.

High Yield bond ETF (HYG) closed at 83.06 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.23. 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 97.365 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.524. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Bullish. Fractal Bias – Bullish. It is in a daily and Weekly Squeeze.

EUR/USD closed at 1.1285 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0066. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

USD/JPY closed at 113.77 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.432. 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 1.0032 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0028. Intermediate Cycle is negative and rising. Short Cycle is positive and falling. Market direction: Buy. 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 XLB, XLV, XLF, XLI, XLY, XLU and XLK.

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

Market Internals
Market Sentiment is bullish. Market Breadth is sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 117.57. Vix is at 19.02 and Vix Futures is at 18.60.

The Week Ahead
Market internals are giving mixed message. Skew is normal, Vix is trending downwards. There is a bullish expectation that a trade deal will be done at the G20 summit in Argentina. The prognosis is for a bullish bias.

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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