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Z5 Fri, 26 January 2024

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Z5 Wed, 10 January 2024

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Z5 Mon, 8 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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22 January 2020 – Virus fears dampened indices

Indices
Dow Transportation closed at 10999.36 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range is 142.36. 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 – 50.7.

Dow Industrial closed at 29186.27 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 147.94. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 65.8.

Russell 2000 closed at 1684.463 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 11.433. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 60.4.

Nasdaq 100 gapped up and closed at 9188.5748 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 75.852. 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. RSI – 78.8.

S&P 500 (SPX) gapped up and closed at 3321.75 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 17.73. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 73.

Metals and Commodities
WTI Crude oil futures (CL) closed at $56.08 per barrel with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.35. 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 – 30.5.

Gold (/GC) closed at 1558.5 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 9.8. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 65.4.

Commodities (DBC) ETF gapped down and closed at 15.47 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.24. 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 – 34.7.

Bonds
Bond futures (/ZB) closed at 158’26 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.875. Fractal Chaos Band – closed on 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 – 57.9.

High Yield bond ETF (HYG) closed at 88.33 with a small doji candle on its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.2. 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 – 60.9.

Currency
The dollar index ($DXY) closed at 97.5 with a bearish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.245. Fractal Chaos Band – closed within 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 – 53.5.


EUR/USD closed at 1.1091 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0028. 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 – 44.7.

USD/JPY closed at 109.82 with a gravestone doji candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.271. 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 – Neutral. RSI – 54.4.

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

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

Market Internals
Market Sentiment – Extremely Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 129.93. Vix – 12.91 and Vix Futures – 15.20.   

The Week Ahead 
Skew is normal. Vix is below 13 and Vix futures is below 16 and has gone up in anticipation of increase in volatility. Market Internals is showing some weakening due to news of the Wuhan corona virus. Market sentiment is still bullish. The Dow Transportation and Russell 2000 continues selling off. High Yield bond gapped up and closed with a high closing doji. These leading indicators are signalling caution about the bull market.

US dollar index is trending sideways. Gold is inversely correlated to the US dollar index has been trending sidewards. A weakening in the US$ index will send gold soaring upwards!

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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