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Z5 Fri, 24 May 2024

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Z5 Fri, 10 May 2024

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Z5 Mon, 6 May 2024

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Z5 Fri 3 May 2024

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Z5 Tues, 30 April 2024

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Z5 Mon, 29 April 2024

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26 September 2018 – Fed hikes rates, volatility in the indices

Indices
Dow Transportation closed at 11374.66 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 151.02. Intermediate Cycle is positive and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. Fractal Bias – Sell.

Dow Industrial closed at 26385.28 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 256.75. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction – Buy. Fractal Bias – Bullish.

Russell 2000 closed at 1691.6077 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 19.92. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish. It is in a daily Squeeze.

Nasdaq 100 closed at 7563.0865 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 84.362. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.

S&P 500 closed at 2905.97 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 27.87. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Bullish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $72.04 per barrel with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.91. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Buy.

Gold futures (GC) closed at 1198.5 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 12.3. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

Agriculture (DBA) ETF closed at 16.96 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.13. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Neutral.

Commodities (DBC) ETF closed at 17.71 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.11. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.

Bonds
Bond futures (/ZB) closed at 140’21 with a bullish candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.91. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.

High Yield bond ETF (HYG) closed at 86.22 with a low closing spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.205. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Sell. Fractal Bias – Neutral.

Currency
The dollar index ($DXY) closed at 94.283 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.446. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.

EUR/USD closed at 1.1737 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0071. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Neutral.

USD/JPY closed at 112.71 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.507. Intermediate Cycle is positive and rising. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish. It is in a Weekly Squeeze.

6S (Swiss Franc) – closed at 1.0429 with a spinning top doji candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.0083. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Bullish. Fractal Bias – Bullish.

Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLV, XLI, XLK and XLY.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLI, XLK and XLY respectively.

Market Internals
Market sentiment is Bullish. Market breadth is sloping downwards showing nett losers to gainers. Volume Accumulation/ Distribution is sloping downwards showing nett distribution. Skew is at 140.98. Vix is at 12.89 and Vix futures is at 14.30.

The Week Ahead
Market internals are weakening. Skew is normal. Vix has risen to above 12 but Vix futures has remain about the same. This could mean that the market is pricing the small pullback to be a temporary phase. Skew is normal. The prognosis is for a short period of consolidation and volatility.

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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