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Z5 Tues, 30 April 2024

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20 November 2019 – No Trade deal between US – China

Indices
Dow Transportation closed at 10695.04 with a bearish marubozu candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range is 172.95. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 46.9.

Dow Industrial closed at 27821.09 with a hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 258.74. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 64.9.

Russell 2000 closed at 1591.6092 with a big doji candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 20.73. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 59.

Nasdaq 100 closed at 8283.753 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 113.012. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 65.1.

S&P 500 (SPX) closed at 3108.46 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 28.77. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 67.5.

Metals and Commodities
WTI Crude oil futures (CL) closed at $57.09 per barrel with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 2.52. Fractal Chaos Band – closed within its FCB lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – Neutral. Momentum – Weak Downwards. RSI – 53.

Gold (/GC) closed at 1472 with a doji candle below its 21 EMA, 50 SMA and above its 8 EMA, 200 SMA. Daily trading range – 13.1. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Weak DownTrend. Momentum – Strong Upward. RSI – 44.2.

Commodities (DBC) ETF closed at 15.48 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.24. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Neutral. Momentum – Weak Downward. RSI – 51.5.

Bonds
Bond futures (/ZB) closed at 160’06 with a bullish marubozu candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 1.1562. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 56.3.

High Yield bond ETF (HYG) gapped down and closed at 86.34 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.25. Fractal Chaos Band – closed below its FCB lowerband. 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 – 35.5.

Currency
The dollar index ($DXY) closed at 97.871 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.214. Fractal Chaos Band – closed within 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 – 47.2.


EUR/USD closed at 1.1071 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.0028. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 52.2.

USD/JPY closed at 108.59 with a small bullish candle above its 50 SMA and below its 8 EMA, 21 EMA, 200 SMA. Daily trading range – 0.39. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Weak Downward. RSI – 48.6.

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

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

Market Internals
Market Sentiment – Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 125.64. Vix – 12.78 and Vix Futures – 15.44.   

The Week Ahead 
We are still in a strong market and although the indices are pausing in their upTrend. The US – China trade deal does not look like it will happen any time soon or if at all. Skew is normal. Market internals are showing weakness. The prognosis is for a slight pullback in the indices.

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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