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Z5 Fri, 26 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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26 February 2020 – It is down and down for the indices

Indices
Dow Transportation closed at 9840.89 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 312.95. 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 – 24.

Dow Industrial closed at 26957.59 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 651.81. 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 – 25.

Russell 2000 closed at 1552.7607 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 36.9302. 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 – 26.7.

Nasdaq 100 closed at 8873.757 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 218.9531. Fractal Chaos Band – closed below 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 – 35.8.

S&P 500 (SPX) closed at 3116.39 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 73.52. 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 – 27.4.

Metals and Commodities
WTI Crude oil futures (CL) closed at $48.65 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 2.14. 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 – Weak Downward. RSI – 30.4.

Gold (/GC) closed at 1642.9 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 30.5. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – positive and falling slope. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 69.9.

Commodities (DBC) ETF closed at 14.09 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 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 – 28.3.

Bonds
Bond futures (/ZB) closed at 166’16 with a big spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.7187. 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 – 70.9.

High Yield bond ETF (HYG) gapped up and closed at 86.86 with a big spinning doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.655. 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 – 33.8.

Currency
The dollar index ($DXY) closed at 99.145 with a bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.353. 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 – 57.2.


EUR/USD closed at 1.0879 with a doji candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0053. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Strong Upward. RSI – 45.2.

USD/JPY closed at 110.41 with a bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.5729. 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 DownTrend. RSI – 53.9.

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

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

Market Internals
Market Sentiment – Slightly Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 130.65. Vix – 27.56 and Vix Futures – 22.65.   

The Week Ahead 
Skew is normal. Vix has increased to below 28 and Vix futures is below 22. Market Internals are showing weakness. Market sentiment is about neutral. Gold is holding as it had been overbought. Bond continues to hold at its high level. There were fears in the market as the contagion from COVID19 continue to spread outside of China. The prognosis is the indices will continue to be under 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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