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Z5 Tues, 30 April 2024

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6 August 2019 – Market takes a breather

Indices
Dow Transportation closed at 10172.52 with a bullish harami candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range 156.49. Fractal Chaos Band – 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 – 39.6.

Dow Industrial closed at 26029.52 with a harami candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 327.81. Fractal Chaos Band – Below its FCB. Long Cycle Wave – positive and falling. Medium Cycle – negative and falling. Short Cycle – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 34.

Russell 2000 closed at 1502.0859 with a harami candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 19.455. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 38.

Nasdaq 100 closed at 7521.3219 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 126.05. 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 – 36.9.

S&P 500 (SPX) closed at 2881.77 with a harami candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 39.66. Fractal Chaos Band – 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 – 36.6.

Metals and Commodities
WTI Crude oil futures (CL) closed at $53.46 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.19. Fractal Chaos Band – 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 – 37.3.

Gold (/GC) closed at 1486.5 with a bullish hammer candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 18.6. Fractal Chaos Band – broke above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 67.9.

Commodities (DBC) ETF closed at 14.93 with an bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.1722. Fractal Chaos Band – 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 – 31.3.

Bonds
Bond futures (/ZB) closed at 161’23 with a high closing doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.9375. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 79.1.

High Yield bond ETF (HYG) closed at 86.04 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.625. Fractal Chaos Band – 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 – 40.4.

Currency
The dollar index ($DXY) closed at 97.582 with a bullish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.564. Fractal Chaos Band – 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 – 50.9.


EUR/USD closed at 1.1197 with a big doji candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.0081. Fractal Chaos Band – above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 51.4.

USD/JPY closed at 106.44 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.569. Fractal Chaos Band – 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 – 35.3.

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

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

Market Internals
Market Sentiment – Slightly Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 113.30. Vix – 24.59 and Vix Futures – 22.85.   

The Week Ahead 
Market Sentiment is slightly bullish. Skew is normal. Vix is still high and below 25. Vix Futures is below 23. The Vix has exploded upwards. Market Internals continues to show weakness. The market recovered slightly from an Oversold position. The prognosis is for further volatility and the market continues to come 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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