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Z5 Fri, 14 June 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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21 Feb 2019 – Slowdown in Europe and China, indices stalled

Indices
Dow Transportation closed at 10632.49 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 78.98. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.

Dow Industrial closed at 25850.63 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 192.23. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Russell 2000 closed at 1575.55 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 12.245. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Nasdaq 100 closed at 7035.164 with a small spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 61.27. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.

S&P 500 closed at 2774.88 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 20.15. 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 $56.84 per barrel with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.97. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.     

Gold futures (GC) closed at 1326 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 21. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

Commodities (DBC) ETF closed at 16.05 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.07. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.   

Bonds
Bond futures (/ZB) closed at 145’22 with a big bearish candle below its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 1.25. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.  

High Yield bond ETF (HYG) closed at 85.42 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.18. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. 

Currency
The dollar index ($DXY) closed at 96.608 with a bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.303. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.      

EUR/USD closed at 1.1333 with a doji candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0046. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. It is in a weekly Squeeze.

USD/JPY closed at 110.67 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.292. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling 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, XLU, XLB, XLE, XLP and XLY.

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 slightly bullish. Market Breadth is sloping upwards showing more gainers to losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 122.42. Vix is at 14.46 and Vix Futures is at 15.95.   


The Week Ahead 
Oil and Gold pulled back and is taking a breather. Market Internals are still showing strength. The trend in the indices are still upwards. Skew is normal. Vix and Vix futures have dropped below 15 and 16 respectively. 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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