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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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14 October 2019 – Nothing happening?

Indices
Dow Transportation closed at 10256.10 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range is 92.92. Fractal Chaos Band – closed 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 – Strong Upward. RSI – 51.4.

Dow Industrial closed at 26787.36 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 125.15. 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 – 53.5.

Russell 2000 closed at 1505.4287 with a small hammer candle below its 21 EMA, 50 SMA, 200 SMA and above its 8 EMA. Daily trading range – 11.92. 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 – Neutral. RSI – 47.8.

Nasdaq 100 closed at 7842.3337 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 38.515. 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 – 55.3.

S&P 500 (SPX) closed at 2966.15 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 9.9. Fractal Chaos Band – Above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 52.7.

Metals and Commodities
WTI Crude oil futures (CL) closed at $53.48 per barrel with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 2.14. 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 DownTrend. Momentum – Strong Upward. RSI – 43.3.

Gold (/GC) closed at 1497.2 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 14.4. Fractal Chaos Band – closed 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 – 47.2.

Commodities (DBC) ETF closed at 15.22 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.17. 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 – Strong UpTrend. Momentum – Strong Upward. RSI – 53.2.

Bonds
Bond futures (/ZB) closed at 161’06 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.2812. 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 – 45.6.

High Yield bond ETF (HYG) closed at 86.83 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.18. 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 – Strong Upward. RSI – 51.4.

Currency
The dollar index ($DXY) closed at 98.43 with a doji candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.199. 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 – 45.9.


EUR/USD closed at 1.1024 with a small doji candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.0028. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 54.

USD/JPY closed at 108.38 with a big doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 1.27. 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 – Strong UpTrend. Momentum – Upward. RSI – 60.5.

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

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

Market Internals
Market Sentiment – slightly Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing slight accumulation. Skew – 124.85. Vix – 14.57 and Vix Futures – 14.30.   

The Week Ahead 
Trading volume was light due to Columbus Day. Market is still figuring out the so-called US-China powwow. The FED is supposed to be moving into Quantitative Easing infinity which is bullish for stocks and the indices. Bond has moved down but the longer term demand for bond is uncertain. The prognosis is for a bullish bias for the Equity market.

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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