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Z5 Fri, 24 May 2024

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Z5 Tues, 30 April 2024

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Z5 Mon, 29 April 2024

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15 October 2018 – Indices pulled back and consolidates

Indices
Dow Transportation closed at 10553.97 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA in Oversold condition. Daily trading range was 115.77. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. Fractal Bias – Bearish.

Dow Industrial closed at 25250.55 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 238.54. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction – Sell. Fractal Bias – Bearish.

Russell 2000 closed at 1553.0948 with a ‘rolling pin’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 24.75. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.

Nasdaq 100 closed at 7068.6706 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and found support at its 200 SMA. Daily trading range was 109.7382. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

S&P 500 closed at 2750.79 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 26.96. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $71.72 per barrel with a spinning top doji candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 1.85. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Sell.

Gold futures (GC) closed at 1230.5 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 16.5. Intermediate Cycle is positive and rising. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.

Agriculture (DBA) ETF closed at 17.76 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.23. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Bullish.

Commodities (DBC) ETF closed at 17.93 with a spinning top doji candle below its 8 EMA and on its 21 EMA and above its 50 SMA. Daily trading range was 0.145. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish.

Bonds
Bond futures (/ZB) closed at 138’11 with a small doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.469. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish. It is OverSold.

High Yield bond ETF (HYG) closed at 85.09 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.15. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias- Bearish.

Currency
The dollar index ($DXY) closed at 95.04 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.476. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Neutral. It is in a Weekly Squeeze.

EUR/USD closed at 1.1578 with a bullish marubozu candle above its 8 EMA and on its 21 EMA and 50 SMA. Daily trading range was 0.0067. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Buy. Fractal Bias – Bullish.

USD/JPY closed at 111.75 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.605. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

6S (Swiss Franc) – closed at 1.0188 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.0076. Intermediate Cycle is negative and falling. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bearish.

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

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

Market Internals
Market Breadth continues to slope downwards showing nett losers to gainers. Market Volume Acc/Dist is sloping downwards showing nett distribution. Market Sentiment has turned positive. Skew is at 128.32. Vix is at 21.30 and Vix Futures is at 19.70.

The Week Ahead
Market Sentiment has turned positive again after a three days in negative territory. Market Internals continue to deteriorate. Skew is normal. Vix and Vix futures is in backwardation which means that the market is expecting this volatility to be short term. The prognosis is for a range trading market and consolidation.

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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