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Z5 Fri, 26 January 2024

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Z5 Tues, 23 January 2024

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Z5 Mon, 22 January 2024

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Z5 Fri, 19 January 2024

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Z5 Thur, 18 January 2024

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Z5 Wed, 17 January 2024

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Z5 Tues, 16 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 Tue, 2 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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14 February 2020 – Weekly Review – Covid19 did not dampen the market


Indices (Weekly chart)
Dow Transportation ($DJT) closed at 10862.92 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 236.08. 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 – 52.5. The index is in its Weekly and Monthly Squeeze.    

Dow Industrial ($DJI) closed at 29398.08 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 572.91. 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 – Weak Upward. RSI – 66.4.

Russell 2000 closed at 1687.5844 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 42.872. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – negative and rising slope. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 61.1.       

Nasdaq 100 closed at 9623.5805 with a big bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 263.214. Fractal Chaos Band – Above its FCB upper and lower band. 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 – 80.5.

S&P 500 closed at 3380.16 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 67.32. 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 – Weak Upward. RSI – 72.3.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $52.51 per barrel with a bullish engulfing candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 2.92. Fractal Chaos Band – Below its FCB. Long Cycle Wave – negative and falling slope. Medium Cycle Wave – negative and falling slope. Short cycle – negative and falling slope. Market direction:- Strong DownTrend. Momentum – Strong Downwards. RSI – 41.8.

Gold futures (GC) closed at 1586.9 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 23.8. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and falling slope. Market direction:- Strong UpTrend. Momentum – Strong Upward. RSI – 68.8.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 162’15 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Weekly trading range was 1.8125. Fractal Chaos Band – Closed 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 – 58.6. It has just exited its weekly Squeeze.         

High Yield bond ETF (HYG) closed at 88.40 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 0.61. Fractal Chaos Band – closed 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 – Neutral. RSI – 62.3.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 99.161 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 0.5669. Fractal Chaos Band – Closed above 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 Upward. RSI – 59.2.

EUR/USD closed at 1.0829 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Weekly trading range – 0.013. Fractal Chaos Band – Closed below its FCB. Long Cycle Wave – negative and falling slope. Medium Cycle Wave – negative and falling slope. Short cycle – negative and falling slope. Market direction:- Strong DownTrend. Momentum – Strong Downward. RSI – 36.4.   

USD/JPY closed at 109.78 with a small low closing doji candle above its 200 SMA, 8 EMA, 21 EMA, 50 SMA. Weekly trading range – 0.5789. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising. 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 XLP, XLU, XLK, SPX, SPY, /ES, XLY, XLF, XLI, XLV, XLB and XLE respectively.

On a 12-monthly lookback, the relative strength order of the ETFs are XLP, XLU, XLK, SPX, SPY, /ES, XLY, XLF, XLI, XLV, XLB 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 132.67. Vix is at 13.68 and Vix futures 14.40.

The Week Ahead
Market Internals are showing strength. Skew is normal. The market continue to be strong with no signs or any weakening. High Yield bond still shows that the market appetite for risk appetite is still strong. Transportation and Russell 2000 are not showing weakness. The prognosis is for the market to continue 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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