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Z5 Fri, 24 May 2024

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Z5 Fri, 10 May 2024

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Z5 Wed, 8 May 2024

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Z5 Mon, 6 May 2024

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Z5 Fri 3 May 2024

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Z5 Wed, 1 May 2024

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Z5 Tues, 30 April 2024

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Z5 Mon, 29 April 2024

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31 March 2020 – Death toll increases, Indices pulled back

Indices
Dow Transportation closed at 7732.32 with a small doji candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range is 215.43. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Neutral. Momentum – Weak Upward. RSI – 43.2.

Dow Industrial closed at 21917.16 with a bearish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 628.29. 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 – Neutral. Momentum – Strong Upward. RSI – 44.9.

Russell 2000 closed at 1153.103 with a small doji candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 34.286. 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 – Neutral. Momentum – Strong Upward. RSI – 42.3.

Nasdaq 100 closed at 7813.4989 with an inverted ‘hammer’ candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 246.14. 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 UpTrend. Momentum – Strong Upward. RSI – 47.9.

S&P 500 (SPX) closed at 2626.65 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 90.33. 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 – Neutral. Momentum – Strong Upward. RSI – 45.3.

Metals and Commodities
WTI Crude oil futures (CL) closed at $20.1 per barrel with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.88. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 24.7.

Gold (/GC) closed at 1591.1 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 57.4. 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 falling slope. Market direction – Weak UpTrend. Momentum – Weak Upward. RSI – 49.6.

Commodities (DBC) ETF closed at 11.39 with a small bullish candle on its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.27. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 30.3.

Bonds
Bond futures (/ZB) closed at 180’01 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.7187. Fractal Chaos Band – closed 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 – 59.6.

High Yield bond ETF (HYG) closed at 77.07 with a small bearish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.73. 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 – Neutral. Momentum – Strong Upward. RSI – 45.5.

Currency
The dollar index ($DXY) closed at 98.947 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 1.055. 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 – 49.5.


EUR/USD closed at 1.1029 with a high closing doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.0133. 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 – 50.7.

USD/JPY closed at 107.47 with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.2629. 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 – 46.4.

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

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

Market Internals
Market Sentiment – Bearish. Put/Call ratio is now at 0.951. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 125.49. Vix – 53.54 and Vix Futures – 48.25.   

The Week Ahead 
Market Sentiment is Bearish. Market. Market Internals are giving mixed messages. Skew is trending upwards back to normality. Vix is dropping indicating a drop in volatility. The indices have bounced from the bottom and hit its 38.4% resistance line. The prognosis is for a pullback for a few more days. Bearish news will continue to dominate the headlines due to rising death rates in Europe and the USA.

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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