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Z5 Tues, 30 April 2024

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17 October 2019 – Brexit and China worries

Indices
Dow Transportation closed at 10496.18 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 131.98. Fractal Chaos Band – closed 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 – 58.7.

Dow Industrial closed at 27025.88 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 141.87. Fractal Chaos Band – within 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 – 57.6.

Russell 2000 closed at 1541.8443 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 17.607. 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 – 57.5.

Nasdaq 100 closed at 7942.1435 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 66.204. 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 – 59.4.

S&P 500 (SPX) closed at 2997.95 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 18.6. 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 – 57.3.

Metals and Commodities
WTI Crude oil futures (CL) closed at $54.2 per barrel with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.54. Fractal Chaos Band – 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 – Weak Uptrade. RSI – 47.

Gold (/GC) closed at 1495.4 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 14.1. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 47.

Commodities (DBC) ETF closed at 15.26 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.13. Fractal Chaos Band – 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 – 54.7.

Bonds
Bond futures (/ZB) closed at 160’08 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.4062. 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 – 42.7.

High Yield bond ETF (HYG) gapped up and closed at 87.07 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.15. 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 – 55.5.

Currency
The dollar index ($DXY) closed at 97.56 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.617. 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 – 35.4.


EUR/USD closed at 1.1123 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.0074. Fractal Chaos Band – closed 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 – 65.6.

USD/JPY closed at 108.63 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.481. Fractal Chaos Band – within 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 – 60.4.

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

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

Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 125.53. Vix – 13.68 and Vix Futures – 16.85.   

The Week Ahead 
The market had a volatile day with the prices moving up and down on news. It looks like Brexit as likely to happen and that moved the market up. Then the Housing Starts came up and that moved the market down. There is still doublt whether any trade deal can be done. That negative sentiment pulled the indices back. The prognosis is for continuing volatility but with 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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