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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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23 September 2019 – Volatility Volatility!

Indices
Dow Transportation closed at 10382.66 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range is 97.15. Fractal Chaos Band – Closed 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 – 49.4.

Dow Industrial gapped down and closed at 26949.99 with a small bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 179.73. Fractal Chaos Band – crossed above its FCB lowerband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Neutral. RSI – 55.9.

Russell 2000 closed at 1558.2466 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 11.19. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle – negative and falling. Market direction – Weak UpTrend. Momentum – Neutral. RSI – 56.6.

Nasdaq 100 closed at 7818.61 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 52.692. 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 – Weak UpTrend. Momentum – Weak Upward. RSI – 52.1.

S&P 500 (SPX) gapped down and closed at 2991.78 with a bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.92. 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 – 56.9.

Metals and Commodities
WTI Crude oil futures (CL) closed at $58.49 per barrel with a bearish ‘hammer’ candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.02. 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 UpTrend. Momentum – Neutral. RSI – 54.8.

Gold (/GC) closed at 1529.5 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.5. Fractal Chaos Band – within 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 – Neutral. RSI – 56.7.

Commodities (DBC) ETF closed at 15.52 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.0922. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 58.5.

Bonds
Bond futures (/ZB) closed at 161’08 with a doji candle below its 21 EMA and above its 8 EMA, 50 SMA, 200 SMA. Daily trading range – 2. 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 – Neutral. RSI – 50.3.

High Yield bond ETF (HYG) closed at 87.44 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.175. Fractal Chaos Band – crossed above 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 – 58.2.

Currency
The dollar index ($DXY) closed at 98.614 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.386. Fractal Chaos Band – closed within 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 – 55.2.


EUR/USD closed at 1.0992 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0059. 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 – Strong Downward. RSI – 41.2.

USD/JPY closed at 107.52 with a bearish candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range – 0.4609. 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 – Weak UpTrend. Momentum – Neutral. RSI – 53.

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

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

Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 118.78. Vix – 14.91 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 15 while Vix futures is below 17. Vix futures is pricing in volatility. Bond is starting to move upwards while equity seems to be pulling back gradually. Dow Transportation and Russell 2000 is signalling a downtrend while bond futures is under buying pressure. The prognosis is for the indices to continue to be volatile and 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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