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Z5 Fri, 26 January 2024

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Z5 Mon, 8 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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8 August 2019 – Indices up, Bulls on the run

Indices
Dow Transportation closed at 10324.38 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range is 189.16. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 45.7.

Dow Industrial closed at 26378.19 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 376.54. Fractal Chaos Band – Below its FCB. Long Cycle Wave – negative and falling. Medium Cycle – negative and rising. Short Cycle – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 43.5.

Russell 2000 closed at 1532.1321 with a big marubozu candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 32.81. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 46.9.

Nasdaq 100 closed at 7724.8298 with a bullish marubozu candle above its 8 EMA, 50 SMA, 200 SMA and below its 21 EMA. Daily trading range – 174.56. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 48.2.

S&P 500 (SPX) closed at 2938.09 with a bullish marubozu candle above its 8 EMA, 50 SMA, 200 SMA and below its 21 EMA. Daily trading range – 54.74. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 47.6.

Metals and Commodities
WTI Crude oil futures (CL) closed at $52.92 per barrel with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.12. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 37.3.

Gold (/GC) closed at 1512.7 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 19.7. 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 – 72.6.

Commodities (DBC) ETF closed at 14.82 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.157. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 31.3.

Bonds
Bond futures (/ZB) closed at 161’17 with an bullish ‘hammer’ candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.0937. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 75.9.

High Yield bond ETF (HYG) closed at 86.37 with a bullish marubozu candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 0.385. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 46.2.

Currency
The dollar index ($DXY) closed at 97.565 with a spinning top doji candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.31. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 50.6.


EUR/USD closed at 1.1178 with a bearish inverted hammer candle below its 8 EMA, 50 SMA, 200 SMA and above its 21 EMA. Daily trading range – 0.0055. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 49.8.

USD/JPY closed at 106.05 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.4059. 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 – 31.8.

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

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

Market Internals
Market Sentiment – Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 117.71. Vix – 16.91 and Vix Futures – 18.15.   

The Week Ahead 
Market Sentiment is bullish. Skew is normal. Vix is below 17. Vix Futures is below 19. Market Volume is showing accumulation while Market Breadth is still negative. It is likely that only some companies are being pushed up and today’s recovery is not spread all over the market. The prognosis is for volatility to continue.

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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