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Z5 Tues, 30 April 2024

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Z5 Mon, 29 April 2024

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12 March 2020 – Indices collapses!

Indices
Dow Transportation closed at 7259.02 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 872.99. 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 – 25.

Dow Industrial gapped down and closed at 21200.62 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2398.76. 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 – 25.

Russell 2000 closed at 1122.9303 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 142.5795. 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 – 17.7.

Nasdaq 100 gapped down and closed at 7263.6527 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 750.5042. 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 – 28.7.

S&P 500 (SPX) gapped down and closed at 2480.64 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 262.52. 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 – 25.4.

Metals and Commodities
WTI Crude oil futures (CL) closed at $31.06 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 3.61. 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 – Strong Downward. RSI – 23.7.

Gold (/GC) closed at 1563.4 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 90.6. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – negative and falling slope. Market direction – Strong DownTrend. Momentum – Strond Downward. RSI – 39.7.

Commodities (DBC) ETF gapped down and closed at 11.98 with a doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.97. 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 – 21.2.

Bonds
Bond futures (/ZB) closed at 179’02 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 7.4062. 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 – Strong UpTrend. Momentum – Neutral. RSI – 67.3.

High Yield bond ETF (HYG) gapped down and closed at 77.61 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 4.61. 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 – 19.3.

Currency
The dollar index ($DXY) closed at 97.503 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 2.232. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 48.5.


EUR/USD closed at 1.1183 with a huge bearish candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0277. 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 – Weak UpTrend. Momentum – Neutral. RSI – 56.8.

USD/JPY closed at 104.61 with a big doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 3.028. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 38.8.

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

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

Market Internals
Market Sentiment – Very Bearish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 115.79. Vix – 75.47 and Vix Futures – 64.60.   

The Week Ahead 
Another huge down day to top previous down days!!! Market Internals are showing extreme bearishness. The market is very old sold. Market Sentiment is very bearish. Market Breadth is at extreme bearishness. Market is in distribution mode. CBOE Skew is at 115.79 which is extreme bearish. When the Skew is below 117, there is a high likelihood of the market bouncing from here. Vix is at 75.47 which is extreme bearishness. Vix futures is at the high 60s. The prognosis is for a bounce from here.

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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