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Z5 Fri, 26 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 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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13 December 2019 – Weekly Review – Trade Deal, Brexit Confirmed


Indices (Weekly chart)
Dow Transportation ($DJT) closed at 10775.76 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 279.83. 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 – Weak UpTrend. Momentum – Weak Downward. RSI – 53.9. The index is in its monthly Squeeze.    

Dow Industrial ($DJI) closed at 28135.38 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 484.93. Fractal Chaos Band – closed 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. It is in a monthly Squeeze. RSI – 65.5.

Russell 2000 closed at 1637.976 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 27.702. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive 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 – 62.7.       

Nasdaq 100 closed at 8487.708 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 178.15. Fractal Chaos Band – Broke above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 70.

S&P 500 closed at 3168.80 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 56.59. 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 – 69.9.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $59.78 per barrel with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 2.37. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Strong Upwards. RSI – 56.4.

Gold futures (GC) closed at 1480.3 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 28.6. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short cycle – negative and rising slope. Market direction:- Weak UpTrend. Momentum – Weak Downward. RSI – 56.3.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 158’03 with a bullish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Weekly trading range was 3.344. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short cycle – negative and falling. Market direction:- Weak DownTrend. Momentum – Weak Downward. RSI – 50.3.         

High Yield bond ETF (HYG) closed at 87.61 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 0.745. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Weak Upward. RSI – 59.6.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 97.175 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Weekly trading range – 1.136. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – negative and falling slope. Short cycle – negative and falling slope. Market direction:- Strong DownTrend. Momentum – Strong Downward. RSI – 46.5.

EUR/USD closed at 1.1122 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Weekly trading range – 0.0146. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and rising slope. Short cycle – negative and rising slope. Market direction:- Weak UpTrend. Momentum – Weak Upward. RSI – 50.6.   

USD/JPY closed at 109.44 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Weekly trading range – 1.278. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Weak Upward. RSI – 54.5.

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

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

Market Internals
Market Sentiment is extremely bullish. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 144.51. Vix is at 12.63 and Vix futures 12.66.

The Week Ahead
Market Sentiment is extremely bullish. Skew is showing overly bullish bias. Market internals are strong. Vix and Vix futures are below 13. The first phase of the US-China trade deal appears to be agreed. Brexit is confirmed now that the Conservatives have won the British election. All the good news appears to be out and priced it. The prognosis is for a bullish sentiment but with potential to reverse downward.

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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