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Z5 Fri, 26 January 2024

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Z5 Fri, 29 December 2023

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Z5 Wed, 27 December 2023

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Z5 Tue, 26 December 2023

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19 August 2019 – Stimulus in Europe, Indices make gains

Indices
Dow Transportation closed at 10081.38 with a small inverted hammer candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range is 194.9. 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 – Weak Downward. RSI – 44.5.

Dow Industrial closed at 26135.79 with a bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 336.31. 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 – Weak Downward. RSI – 46.2.

Russell 2000 closed at 1508.85 with a small bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 21.7. 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 – Weak Downward. RSI – 46.9.

Nasdaq 100 gapped up and closed at 7719.3233 with a doji candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 136.63. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 50.8.

S&P 500 (SPX) gapped up and closed at 2923.65 with a small bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 42.32. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Neutral. RSI – 49.5.

Metals and Commodities
WTI Crude oil futures (CL) closed at $56.11 per barrel with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 1.53. 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 – Strong UpTrend. Momentum – Strong Upward. RSI – 51.7.

Gold (/GC) closed at 1505.7 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 20.3. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 61.0.

Commodities (DBC) ETF closed at 14.90 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.1. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 40.9.

Bonds
Bond futures (/ZB) closed at 164’04 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.6875. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Weak Upward. RSI – 69.5.

High Yield bond ETF (HYG) gapped up and closed at 86.35 with a small bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 0.26. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Neutral. RSI – 49.5.

Currency
The dollar index ($DXY) closed at 98.358 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.256. 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 – 60.


EUR/USD closed at 1.1076 with a bearish inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0037. 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 – 44.

USD/JPY closed at 106.62 with a bullish marubozu candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.459. 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 DownTrend. Momentum – Strong Upward. RSI – 46.

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

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

Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 116.48. Vix – 16.88 and Vix Futures – 16.75.   

The Week Ahead 
Market Sentiment has turned bullish. Skew is normal. Vix is below 17. Vix Futures is below 17. Market internals are gathering strength. The momentum on the indices have turned upwards. Bond and Gold have pulled back. The prognosis is for a slow uptrend but Selling pressure continues. .

To Your Wealth!
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