30 March 2020 – C19, Grim statistics in the US, Indices surged upward
Indices Dow Transportation closed at 7790.91 with a small bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range is 295.8. 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 – Neutral. Momentum – Strong Upward. RSI – 43.8.
Dow Industrial closed at 22327.48 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 856. 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 – Neutral. Momentum – Strong Upward. RSI – 46.3.
Russell 2000 closed at 1158.317 with a small bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 38.69. 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 – 42.6.
Nasdaq 100 closed at 7889 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 313.713. 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 UpTrend. Momentum – Strong Upward. RSI – 48.7.
S&P 500(SPX) closed at 2626.65 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 90.33. 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 – Neutral. Momentum – Strong Upward. RSI – 46.7.
Metals and Commodities WTI Crude oil futures (CL) closed at $20.28 per barrel with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.57. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 27.1.
Gold (/GC) closed at 1643.4 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 41.6. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 56.1.
Commodities (DBC) ETF closed at 11.39 with a small bullish candle on its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.24. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong DownTrend. Momentum – Strong UpTrend. RSI – 31.9.
Bonds Bond futures (/ZB) closed at 179’01 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 3.625. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 59.3.
High Yield bond ETF (HYG) closed at 77.69 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.4. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 46.9.
Currency The dollar index ($DXY) closed at 99.04 with a bullish marubozu candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 1.03. 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 Upward. RSI – 50.4.
EUR/USD closed at 1.1042 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.0133. 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 – 51.3.
USD/JPY closed at 107.75 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.167. 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 DownTrend. Momentum – Strong Downward. RSI – 49.4.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, XLV, XLP, XLK, /ES, SPX, XLY, SPY, XLB, XLI, XLF and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLV, XLP, XLK, /ES, SPX, XLY, SPY, XLB, XLI, XLF and XLE.
Market Internals Market Sentiment – Bearish. Put/Call ratio is now at 0.951. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 122.18. Vix – 57.08 and Vix Futures – 49.75.
The Week Ahead Market Sentiment is Bearish. Market Breadth is starting to show strength. Market Volume is showing accumulation. The Market Internals are showing strength. Skew is trending upwards back to normality. Vix is dropping indicating a drop in volatility. With the US$ 2.2 Trillion stimulus approved and more to come, the market has the FED behind it to push it higher. The prognosis is for the market to have a bullish bias.
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.
30 March 2020 – C19, Grim statistics in the US, Indices surged upward
Indices
Dow Transportation closed at 7790.91 with a small bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range is 295.8. 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 – Neutral. Momentum – Strong Upward. RSI – 43.8.
Dow Industrial closed at 22327.48 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 856. 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 – Neutral. Momentum – Strong Upward. RSI – 46.3.
Russell 2000 closed at 1158.317 with a small bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 38.69. 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 – 42.6.
Nasdaq 100 closed at 7889 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 313.713. 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 UpTrend. Momentum – Strong Upward. RSI – 48.7.
S&P 500 (SPX) closed at 2626.65 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 90.33. 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 – Neutral. Momentum – Strong Upward. RSI – 46.7.
Metals and Commodities
WTI Crude oil futures (CL) closed at $20.28 per barrel with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.57. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 27.1.
Gold (/GC) closed at 1643.4 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 41.6. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 56.1.
Commodities (DBC) ETF closed at 11.39 with a small bullish candle on its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.24. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong DownTrend. Momentum – Strong UpTrend. RSI – 31.9.
Bonds
Bond futures (/ZB) closed at 179’01 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 3.625. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 59.3.
High Yield bond ETF (HYG) closed at 77.69 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.4. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 46.9.
Currency
The dollar index ($DXY) closed at 99.04 with a bullish marubozu candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 1.03. 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 Upward. RSI – 50.4.
EUR/USD closed at 1.1042 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.0133. 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 – 51.3.
USD/JPY closed at 107.75 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.167. 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 DownTrend. Momentum – Strong Downward. RSI – 49.4.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, XLV, XLP, XLK, /ES, SPX, XLY, SPY, XLB, XLI, XLF and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLV, XLP, XLK, /ES, SPX, XLY, SPY, XLB, XLI, XLF and XLE.
Market Internals
Market Sentiment – Bearish. Put/Call ratio is now at 0.951. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 122.18. Vix – 57.08 and Vix Futures – 49.75.
The Week Ahead
Market Sentiment is Bearish. Market Breadth is starting to show strength. Market Volume is showing accumulation. The Market Internals are showing strength. Skew is trending upwards back to normality. Vix is dropping indicating a drop in volatility. With the US$ 2.2 Trillion stimulus approved and more to come, the market has the FED behind it to push it higher. The prognosis is for the market to have a bullish bias.
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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