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Z5 Fri, 24 May 2024

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Z5 Tues, 30 April 2024

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Z5 Mon, 29 April 2024

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23 January 2020 – Nasdaq 100 continues new high

Indices
Dow Transportation closed at 11143.42 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 283.07. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 57.2.

Dow Industrial gapped down and closed at 29160.09 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 223.49. 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 – Neutral. RSI – 64.7.

Russell 2000 gapped down and closed at 1685.0111 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 21.383. 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 Downward. RSI – 60.6.

Nasdaq 100 closed at 9216.9841 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 75.89. 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 – 79.8.

S&P 500 (SPX) closed at 3325.54 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 25.01. 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 – 73.6.

Metals and Commodities
WTI Crude oil futures (CL) closed at $55.7 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.5. Fractal Chaos Band – closed 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 – 29.7.

Gold (/GC) closed at 1562.1 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.2. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 65.7.

Commodities (DBC) ETF gapped down and closed at 15.34 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.24. Fractal Chaos Band – closed 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 – 31.1.

Bonds
Bond futures (/ZB) closed at 158’20 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.1875. 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 Upward. RSI – 59.7.

High Yield bond ETF (HYG) gapped down and closed at 88.06 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.31. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Neutral. Momentum – Strong Downward. RSI – 51.3.

Currency
The dollar index ($DXY) closed at 97.687 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and on its 200 SMA. Daily trading range – 0.376. Fractal Chaos Band – closed above 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 – 57.2.


EUR/USD closed at 1.1052 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0072. 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 – 39.3.

USD/JPY closed at 109.47 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.589. 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 – Neutral. Momentum – Strong Downward. RSI – 50.5.

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

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

Market Internals
Market Sentiment – Extremely Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 131.76. Vix – 12.98 and Vix Futures – 15.05.   

The Week Ahead 
Skew is normal. Vix is below 13 and Vix futures is below 16 and has gone up in anticipation of increase in volatility. Market Internals is showing weakening due to news of the Wuhan corona virus. Market sentiment is still bullish. Russell 2000 and High Yield Bond sold off. These leading indicators are signalling caution about the bull market.

US bond futures continue trending upwards. Gold is grinding upwards. US dollar index is also trending upwards and if it is sustained, the Gold price will fall.

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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