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Z5 Tues, 30 April 2024

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Z5 Mon, 29 April 2024

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9 December 2019 – Uncertainty heading towards X’mas

Indices
Dow Transportation closed at 10676.51 with a small doji candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range is 70.45 Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 47.

Dow Industrial closed at 27909.60 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 108.92. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 56.4.

Russell 2000 closed at 1629.6186 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 6.82. Fractal Chaos Band – closed 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 – 62.9.

Nasdaq 100 closed at 8362.7436 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 65.9. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 59.2.

S&P 500 (SPX) closed at 3135.96 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 13.41. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and flat. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 60.5.

Metals and Commodities
WTI Crude oil futures (CL) closed at $58.91 per barrel with a hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.02. Fractal Chaos Band – closed above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upwards. RSI – 58.7.

Gold (/GC) closed at 1465.9 with a small candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 6.8. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and falling slope. Short Cycle Wave – negative and falling slope. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 44.7.

Commodities (DBC) ETF closed at 15.65 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.18. Fractal Chaos Band – closed 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 – 56.4.

Bonds
Bond futures (/ZB) closed at 158’03 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.8437. 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 – 45.1.

High Yield bond ETF (HYG) closed at 86.93 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.1. Fractal Chaos Band – closed 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 – 53.1.

Currency
The dollar index ($DXY) closed at 97.649 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.166. Fractal Chaos Band – closed below its FCB lowerband. Long Cycle Wave – negative and flat. Medium Cycle Wave – negative and flat. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 42.6.


EUR/USD closed at 1.1063 with an inverted hammer candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range – 0.0024. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Weak Upward. RSI – 52.2.

USD/JPY closed at 108.54 with a small bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range – 0.249. 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 – Strong DownTrend. Momentum – Strong Downward. RSI – 47.6.

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

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

Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 136.56. Vix – 15.86 and Vix Futures – 15.55.   

The Week Ahead 
The indices have a bullish bias and even then, there was lack of positive news. Market sentiment is bullish. Market Internals are showing strength. Skew is normal. Vix and Vix futures are elevated and below 16. There is expectation of volatility in the market and the Vix are showing that. The prognosis is for caution as the market is pricing in some volatility.

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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