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Z5 Fri, 26 January 2024

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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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15 July 2019 – Upward grind continues

Indices
Dow Transportation closed at 10601.03 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range 82.47. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 59.2.

Dow Industrial closed at 27359.16 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 70.52. Fractal Chaos Band – Above its FCB. Long Cycle Wave – positive and rising. Medium Cycle – positive and falling. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 74.6.

Russell 2000 closed at 1561.8203 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 15.1. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle – positive and falling. Market direction – Weak UpTrend. Momentum – Neutral. RSI – 54.2.

Nasdaq 100 closed at 7966.9262 with a small hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 29.3406. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 69.7.

S&P 500 (SPX) closed at 3014.30 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 9.03. Fractal Chaos Band – above the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 70.9.

Metals and Commodities
WTI Crude oil futures (CL) closed at $59.31 per barrel with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.72. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 57.

Gold (/GC) closed at 1415.7 with a small bearish spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 12.3. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak DownTrend. RSI – 60.9.

Commodities (DBC) ETF closed at 15.89 with a nig bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.195. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 56.7.

Bonds
Bond futures (/ZB) closed at 154’04 with a bullish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 1.156. Fractal Chaos Band – below its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 49.9.

High Yield bond ETF (HYG) closed at 86.99 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.21. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Strong Downward. RSI – 54.4.

Currency
The dollar index ($DXY) closed at 96.923 with a bullish candle and intertwined with its 8 EMA, 21 EMA and above its 200 SMA and below its 50 SMA. Daily trading range – 0.247. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Weak Downward. RSI – 48.9.


EUR/USD closed at 1.1257 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range – 0.003. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 48.9.

USD/JPY closed at 107.90 with a small spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.678. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 44.9.

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

On a 6-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 is XLY and XLK.  

Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew -126.22. Vix – 12.68 and Vix Futures – 12.85.   

The Week Ahead 
Market Sentiment remains bullish. Market internals remains strong. Skew is normal. Vix is below 13 and Vix Futures is below 13. With the Vix and Vix futures at those levels, the market is showing complacency. Dow Transportation is showing a great deal of bullishness. The prognosis is for the indices to continue its grind upwards.

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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