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Z5 Wed, 10 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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21 February 2020 – Bond, Gold surges, Indices pulled back


Indices (Weekly chart)
Dow Transportation ($DJT) closed at 10908.94 with a low closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 261.2. 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 – Strong UpTrend. Momentum – Weak Downward. RSI – 53.3. The index is in its Weekly and Monthly Squeeze.    

Dow Industrial ($DJI) closed at 28992.41 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 516.39. Fractal Chaos Band – closed between 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 – Neutral. RSI – 60.9.

Russell 2000 closed at 1687.6086 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 25.7144. Fractal Chaos Band – closed within 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 – Weak Upward. RSI – 59.5.       

Nasdaq 100 closed at 9446.6878 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 330.1931. 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 – 73.4.

S&P 500 closed at 3337.75 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 65.07. 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 – 66.9.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $53.46 per barrel with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 3.51. Fractal Chaos Band – Within 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 – 44.

Gold futures (GC) closed at 1645.9 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 70.3. 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 falling slope. Market direction:- Strong UpTrend. Momentum – Strong Upward. RSI – 75.6.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 165’00 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Weekly trading range was 3.625. 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 – 63.2. It has just exited its weekly Squeeze.         

High Yield bond ETF (HYG) closed at 88.33 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 0.38. 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 – Strong Upward. RSI – 61.2.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 99.337 with a low closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 0.771. 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 – 60.2.

EUR/USD closed at 1.0849 with a doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Weekly trading range – 0.0085. 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 – 37.7.   

USD/JPY closed at 111.54 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Weekly trading range – 2.572. 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. Market direction:- Strong UpTrend. Momentum – Strong Upward. RSI – 61.4.

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

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

Market Internals
Market Sentiment is bullish. Market Breadth is sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping downwards showing distribution. Skew is at 135.14. Vix is at 17.08 and Vix futures 17.05.

The Week Ahead
Market Internals are showing weakness. Skew is normal. The indices are weakening. High Yield bond still shows that the market appetite for risk appetite is still strong. Transportation and Russell 2000 are showing some weakness. The prognosis is for the market to volatility as the bears sense the weakness and challenges the bulls.

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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