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Z5 Fri, 26 January 2024

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Z5 Fri, 12 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 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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31 December 2019 – A final push on the indices

Indices
Dow Transportation closed at 10901.28 with a bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range is 74.51. 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 – 55.4.

Dow Industrial closed at 28538.44 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 170.86. 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 – 64.7.

Russell 2000 closed at 1668.4686 with a bullish candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 13.51. 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 – 65.8.

Nasdaq 100 closed at 8733.0728 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 61.05. 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 – 71.9.

S&P 500 (SPX) closed at 3230.78 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 19.69. 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 – 70.7.

Metals and Commodities
WTI Crude oil futures (CL) closed at $61.21 per barrel with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.25. 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 – Neutral. RSI – 62.6.

Gold (/GC) closed at 1520.0 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 11.5. Fractal Chaos Band – closed above its FCB. 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 – 71.8.

Commodities (DBC) ETF gapped down and closed at 15.95 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.14. 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 – 55.9.

Bonds
Bond futures (/ZB) closed at 155’17 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.0937. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 37.9.

High Yield bond ETF (HYG) closed at 87.94 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.1436. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 62.9.

Currency
The dollar index ($DXY) closed at 96.061 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.384. Fractal Chaos Band – closed below 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 – 31.4.


EUR/USD closed at 1.1215 with a bullish inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0042. 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 – 68.6.

USD/JPY closed at 108.65 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.411. Fractal Chaos Band – closed below its FCB lowerband. 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 – 40.3.

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

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

Market Internals
Market Sentiment – Extremely Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 139.52. Vix – 13.78 and Vix Futures – 14.55.   

The Week Ahead 
Skew is normal. Vix is below 14 and Vix futures is below 15. Market Internals continue to show strength and market sentiment is showing bullishness. The indices is trending upwards. The prognosis is for the market to trend sideways or slightly upa but it will come under some 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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