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Z5 Tues, 30 April 2024

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Z5 Mon, 29 April 2024

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16 October 2016 – A big day for the bulls!

Indices
Dow Transportation closed at 10744.85 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 203.56. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell. Fractal Bias – Bearish.

Dow Industrial closed at 25798.42 with a big bullish marubozu candle above its 8 EMA and 200 SMA and below its 21 EMA and 50 SMA. Daily trading range was 567.13. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell. Fractal Bias – Bearish.

Russell 2000 closed at 1596.8372 with a big bullish marubozu candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 44.915. Intermediate Cycle is negative and falling. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bearish.

Nasdaq 100 closed at 7276.43 with a big bullish candle above its 8 EMA and 200 SMA and below its 21 EMA and 50 SMA. Daily trading range was 222.5901. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.

S&P 500 closed at 2809.92 with a bullish marubozu candle on its 8 EMA and above its 200 SMA and below its 21 EMA and 50 SMA. Daily trading range was 62.67. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $71.17 per barrel with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 1.27. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

Gold futures (GC) closed at 1228.1 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 9.6. 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 small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.08. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.

Commodities (DBC) ETF closed at 18.01 with a bullish candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.18. 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 138’12 with a small doji candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.594. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Neutral. It is OverSold.

High Yield bond ETF (HYG) closed at 85.38 with a bullish candle above its 8 EMA and below 21 EMA and 50 SMA. Daily trading range was 0.31. 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 95.09 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.415. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a Weekly Squeeze.

EUR/USD closed at 1.1573 with a doji candle above its 8 EMA and on its 21 EMA and 50 SMA. Daily trading range was 0.0055. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Buy. Fractal Bias – Bullish.

USD/JPY closed at 112.24 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.606. 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 1.0149 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0051. Intermediate Cycle is negative and falling. Short Cycle is negative and rising. Market direction: Buy. 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 XLK, XLU, XLY and XLV.

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

Market Internals
Market Sentiment is bullish. Market Breadth continues to slope downwards but shows sign of flattening. Volume Accumulation/Distribution is sloping upwards and is showing accumulation. Vix is at 17.62. Vix futures is at 17.10. Skew is at 132.15.

The Week Ahead
Market Sentiment is now positive. Market internals are still bearish but shows sign of bottoming. Skew is normal. Vix is above 17 and this is still high. Vix futures is similarly above 17. The prognosis is that we are seeing a rebound after the big sell-off last week.

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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