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Z5 Fri, 29 December 2023

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Z5 Tue, 26 December 2023

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8 May 2019 – Trade Uncertainties

Indices
Dow Transportation closed at 10638.22 with an inverted hammer candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range was 123.82. Intermediate Cycle is positive and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.

Dow Industrial closed at 25967.33 with a low closing spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and above 200 SMA. Daily trading range was 228.69. Intermediate Cycle is positive and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. 

Russell 2000 closed at 1574.9748 with a bearish marubozu candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range was 12.504. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. 

Nasdaq 100 closed at 7617.55 with a doji candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range was 85.07. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.

S&P 500 (SPX) closed at 2879.42 with a doji candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range was 24.68. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Mrket direction: Sell.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $61.99 per barrel with a bullish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range was 1.3. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

Gold futures (GC) closed at 1281.7 with a bearish candle on its 8 EMA and below its 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 12.6. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.

Commodities (DBC) ETF closed at 15.74 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.13. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.   

Bonds
Bond futures (/ZB) closed at 148’05 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 1.156. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

High Yield bond ETF (HYG) closed at 86.12 with a low closing doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.265. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. 

Currency
The dollar index ($DXY) closed at 97.595 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.26. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.    

EUR/USD closed at 1.1190 with a doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.003. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. It is in a weekly Squeeze.

USD/JPY closed at 110.08 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.385. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. 

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

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

Market Internals
Market Sentiment is bearish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 117.79. Vix is at 19.32 and Vix Futures is at 18.55.   

The Week Ahead 
Market Internals continue to show weakness. The trade talks between China and the USA does not look to conclude positively. Skew is normal. Vix and Vix futures have gone up and are now below 20 and 19 respectively. Market Sentiment is bearish. The prognosis is for increase in volatility and continuing selling pressure.

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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