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Z5 Fri, 29 December 2023

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Z5 Tue, 26 December 2023

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5 August 2019 – Market made a big dump!

Indices
Dow Transportation closed at 10040.23 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range 414.59. 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 – 34.3.

Dow Industrial gapped down and closed at 25717.74 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 961.63. Fractal Chaos Band – Below its FCB. Long Cycle Wave – positive and falling. Medium Cycle – negative and falling. Short Cycle – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 24.2.

Russell 2000 closed at 1487.4137 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 60.996. Fractal Chaos Band – below its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 33.3.

Nasdaq 100 gapped down and closed at 7415.6907 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 336.535. Fractal Chaos Band – closed 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 – 30.

S&P 500 (SPX) gapped down and closed at 2844.74 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 109.93. 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 – 28.

Metals and Commodities
WTI Crude oil futures (CL) closed at $55.01 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.39. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 39.4.

Gold (/GC) closed at 1475.7 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 33. Fractal Chaos Band – broke above its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 68.2.

Commodities (DBC) ETF gapped down and closed at 15.01 with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.1697. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 33.

Bonds
Bond futures (/ZB) closed at 161’10 with a big bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.8125. 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 – 78.9.

High Yield bond ETF (HYG) gapped down and closed at 85.49 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.04. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 29.4.

Currency
The dollar index ($DXY) closed at 97.395 with a big bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.757. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 48.2.


EUR/USD closed at 1.1202 with a huge bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.011. Fractal Chaos Band – above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 54.1.

USD/JPY closed at 105.93 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.896. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 28.

Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLB, XLK, XLU, XLP, SPX, SPY, XLY, XLV, XLF, XLI, /ES and XLE.

On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLB, XLP, SPX, SPY, XLK, XLI, XLY, XLF, /ES, XLV and XLE.  

Market Internals
Market Sentiment – Bearish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 113.30. Vix – 24.59 and Vix Futures – 22.85.   

The Week Ahead 
Market Sentiment is bearish. Skew is low. Vix has exploded upwards and below 25. Vix Futures is below 23. Market Internals are showing weakness. The market is quite Oversold but continues to come under selling pressure. The prognosis is for further volatility and the market continues to come under 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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