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Z5 Fri, 24 May 2024

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Z5 Tues, 30 April 2024

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Z5 Mon, 29 April 2024

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29 January 2019 – Gold rush upwards

Indices
Dow Transportation closed at 9967.32 with a small spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 101.75. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Dow Industrial closed at 24579.96 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 170.83. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Russell 2000 closed at 1471.45 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 7.698. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. 

Nasdaq 100 closed at 6632.7924 with a bearish candle below its 8 EMA, 200 SMA and above its 21 EMA, 50 SMA. Daily trading range was 88.052. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.

S&P 500 closed at 2640. with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 19.88. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $53.24 per barrel with a bullish candle intertwined with its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 2.09. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.    

Gold futures (GC) closed at 1316.7 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 14.6. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

Commodities (DBC) ETF closed at 15.49 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.2. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.   

Bonds
Bond futures (/ZB) closed at 145’19 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.75. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Sell.  

High Yield bond ETF (HYG) closed at 84.23 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.32. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. 

Currency
The dollar index ($DXY) closed at 95.808 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.246. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.      

EUR/USD closed at 1.1430 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0038. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a weekly Squeeze.

USD/JPY closed at 109.37 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.415. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. 

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

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

Market Internals
Market Sentiment is bullish. Market Breadth is sloping upwards showing more gainers to losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 121.90. Vix is at 19.13 and Vix Futures is at 18.95.   

The Week Ahead
Gold continues to trend upwards. The dollar index is trending downwards which has given gold the boost upwards. Market internals are still showing strength. Market sentiment is bullish. The prognosis is for gold to continue trending upwards in time of uncertainties especially when the dollar index is trending downwards.

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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