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Z5 Fri 31 May 2024

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Z5 Tues, 28 May 2024

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Z5 Mon, 27 May 2024 – Memorial Day

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Z5 Fri, 24 May 2024

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Z5 Fri, 10 May 2024

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19 Feb 2019 – Gold on the move

Indices
Dow Transportation closed at 10617.68 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 170.18. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.

Dow Industrial closed at 25891.32 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 141.43. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Russell 2000 closed at 1574.4676 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 13.377. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Nasdaq 100 closed at 7066.61 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 56.32. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

S&P 500 closed at 2779.76 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 20.04. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $56.43 per barrel with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 1.07. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.     

Gold futures (GC) closed at 1344.1 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 21.2. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Sell.

Commodities (DBC) ETF closed at 15.95 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.095. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.   

Bonds
Bond futures (/ZB) closed at 146’20 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.7812. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy.  

High Yield bond ETF (HYG) closed at 85.43 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.22. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Currency
The dollar index ($DXY) closed at 96.529 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.659. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.      

EUR/USD closed at 1.1294 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0081. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. It is in a weekly Squeeze.

USD/JPY closed at 110.6 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.375. Intermediate Cycle is positive and rising slope. Short Cycle is positive 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, XLK and XLE.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLI, XLE, XLK, XLY and XLF 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 124.68. Vix is at 14.88 and Vix Futures is at 16.45.   


The Week Ahead 
Gold is surging upwards. Oil has been on an uptrend but is now trending sideways. Market internals are still showing strength. The trend in the indices are still upwards. Skew is normal. Vix has dropped below 15 and Vix futures has dropped below 17. The prognosis is for continued strength.   

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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