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Z5 Fri, 29 December 2023

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5 December 2019 – Quiet day at the market

Indices
Dow Transportation closed at 10574.88 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range is 94.46. Fractal Chaos Band – closed within 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 – 42.

Dow Industrial gapped up and closed at 27677.79 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 182.4. 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 DownTrend. Momentum – Weak Downward. RSI – 51.

Russell 2000 closed at 1614.8325 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 9.047. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 59.1.

Nasdaq 100 gapped up and closed at 8308.3967 with a small doji candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 48.35. 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 – Strong UpTrend. Momentum – Strong Downward. RSI – 56.6.

S&P 500 (SPX) closed at 3117.43 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 15.69. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 57.6.

Metals and Commodities
WTI Crude oil futures (CL) closed at $58.33 per barrel with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.02. Fractal Chaos Band – closed 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 Upwards. RSI – 56.7.

Gold (/GC) closed at 1481.1 with a small doji candle below its 50 SMA and above its 8 EMA, 21 EMA, 200 SMA. Daily trading range – 7.7. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 52.3.

Commodities (DBC) ETF gapped up and closed at 15.57 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.1. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 53.8.

Bonds
Bond futures (/ZB) closed at 158’03 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.3437. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 45.9.

High Yield bond ETF (HYG) gapped up and closed at 86.81 with a bullish hammer candle above its 8 EMA, 21 EMA, 200 SMA and on its 50 SMA. Daily trading range – 0.23. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 50.5.

Currency
The dollar index ($DXY) closed at 97.389 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.244. Fractal Chaos Band – closed below its FCB lowerband. 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 – 35.6.


EUR/USD closed at 1.1103 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.0031. Fractal Chaos Band – closed 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 – 60.6.

USD/JPY closed at 108.74 with a small bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range – 0.341. 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 DownTrend. Momentum – Strong Downward. RSI – 48.5.

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

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

Market Internals
Market Sentiment – Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 123.64. Vix – 14.52 and Vix Futures – 14.90.   

The Week Ahead 
It was a quiet day at the market with no new catalyst to move it up or down. US-China trade news is now over a year old and fully priced in by the market. Market Internals are giving mixed signals. The prognosis is for a volatile market and waiting for new catalyst to move it.

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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