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Z5 Fri, 26 January 2024

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Z5 Wed, 24 January 2024

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Z5 Tues, 23 January 2024

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Z5 Fri, 19 January 2024

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Z5 Thur, 18 January 2024

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Z5 Wed, 17 January 2024

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Z5 Tues, 16 January 2024

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Z5 Fri, 12 January 2024

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Z5 Thur, 11 January 2024

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Z5 Wed, 10 January 2024

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Z5 Tue, 9 January 2024

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Z5 Mon, 8 January 2024

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Z5 Fri, 5 January 2024

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Z5 Thur, 4 January 2024

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Z5 Wed, 3 January 2024

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Z5 Tue, 2 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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18 September 2019 – Fed disappoints with rate cut

Indices
Dow Transportation gapped down and closed at 10576.34 with a hammer candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range is 258.46. Fractal Chaos Band – Closed 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 – 56.2.

Dow Industrial closed at 27147.08 with a bullish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 262.78. 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 – 61.5.

Russell 2000 closed at 1568.3442 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 21.14. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 59.7.

Nasdaq 100 closed at 7888.5562 with a dragonfly doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 99.587. 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 – 57.4.

S&P 500 (SPX) closed at 3006.73 with a dragonfly doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 29.26. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 61.1.

Metals and Commodities
WTI Crude oil futures (CL) closed at $58.19 per barrel with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.69. Fractal Chaos Band – within 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 – 54.4.

Gold (/GC) closed at 1501.7 with a spinning top doji candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 28.8. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and flat. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 47.5.

Commodities (DBC) ETF closed at 15.38 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.1414. Fractal Chaos Band – within 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 – 58.1.

Bonds
Bond futures (/ZB) closed at 159’30 with a tiny bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.4375. Fractal Chaos Band – Within its FCB Lowerband. 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 – 42.7.

High Yield bond ETF (HYG) closed at 87.47 with a high closing doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.35. Fractal Chaos Band – crossed 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 – 59.7.

Currency
The dollar index ($DXY) closed at 98.549 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.5. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 53.8.


EUR/USD closed at 1.1029 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0061. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 45.8.

USD/JPY closed at 108.43 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.394. Fractal Chaos Band – above its FCB Upperband. 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 – 60.3.

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

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

Market Internals
Market Sentiment – Slightly. Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 118.09. Vix – 13.95 and Vix Futures – 16.6.   

The Week Ahead 
Market Volume is showing distribution while market Breadth continues to show nett gainers. Skew is normal. Vix is below 14 while Vix futures has increased to be below 17. Vix futures is pricing in volatility. Oil continues to trade downwards. High Yield bond is meeting resistance upwards.

The FED as confounded the market by reducing the interest rate by 25 basis point with 3 of the directors dissenting. The FED does not indicate that it will continue with reducing the interest rates. The prognosis is for volatility as the market does not know which direction it should be pointing.

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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