Summary (The Week Ahead) $DJT – DownTrend. /YM – UpTrend. /RTY – UpTrend and in a preliminary Squeeze. /NQ – UpTrend. /ES – UpTrend.
/CL – DownTrend and in Squeeze. /GC – UpTrend. /ZB – UpTrend and in a preliminary Squeeze. $DXY – DownTrend. HYG – UpTrend.
Market Internals Market Sentiment – Bullish. Put/Call ratio – 0.792. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downward and showing distribution. Vix – 40.11 and Vix Futures – 34.75. Skew – 122.33.
News that Gilead drug Remdesivir is effective against corona virus powered the S&P 500 and Dow Industrial upward. Market Sentiment has turned bullish. Short term market volume was showing distribution but long term is showing accumulation UpTrend. Overall, market internals are giving a weak Buy signal. The market perceives that the fight against the corona virus may be turning a corner. The prognosis is for a weak Buying pressure in the market.
Intermarket Analysis WTI Crude oil futures (CL) closed at $26.47. Oil futures has rolled over to a new contract month. Daily trading range – 1.11. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 49.2. It is in a Squeeze.
Gold (/GC) closed at 1733.8. Daily trading range – 45.4. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 60.4.
Commodities (DBC) ETF closed at 11.39. Daily trading range – 0.2. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 39.7.
Bonds Bond futures (/ZB) closed at 181. Daily trading range – 1.625. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 55.3. It is in a preliminary Squeeze.
High Yield bond ETF (HYG) closed at 80.68. Daily trading range – 0.83. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 55.5.
Currency The dollar index ($DXY) closed at 99.933. Daily trading range – 0.734. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 51.9.
EUR/USD closed at 1.0837. Daily trading range – 0.0094. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 45.7.
USD/JPY closed at 107.88. Daily trading range – 0.9169. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 47.7.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLV, XLP, XLK, /ES, XLU, XLY, SPX, SPY, XLB, XLI, XLF and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, XLP, XLK, /ES, XLU, XLY, SPX, SPY, XLB, XLI, XLF and XLE.
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.
16 April 2020 – Indices power upward
Summary (The Week Ahead)
$DJT – DownTrend. /YM – UpTrend. /RTY – UpTrend and in a preliminary Squeeze. /NQ – UpTrend. /ES – UpTrend.
/CL – DownTrend and in Squeeze. /GC – UpTrend. /ZB – UpTrend and in a preliminary Squeeze. $DXY – DownTrend. HYG – UpTrend.
Market Internals
Market Sentiment – Bullish. Put/Call ratio – 0.792. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downward and showing distribution. Vix – 40.11 and Vix Futures – 34.75. Skew – 122.33.
News that Gilead drug Remdesivir is effective against corona virus powered the S&P 500 and Dow Industrial upward. Market Sentiment has turned bullish. Short term market volume was showing distribution but long term is showing accumulation UpTrend. Overall, market internals are giving a weak Buy signal. The market perceives that the fight against the corona virus may be turning a corner. The prognosis is for a weak Buying pressure in the market.
Intermarket Analysis
WTI Crude oil futures (CL) closed at $26.47. Oil futures has rolled over to a new contract month. Daily trading range – 1.11. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 49.2. It is in a Squeeze.
Gold (/GC) closed at 1733.8. Daily trading range – 45.4. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 60.4.
Commodities (DBC) ETF closed at 11.39. Daily trading range – 0.2. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 39.7.
Bonds
Bond futures (/ZB) closed at 181. Daily trading range – 1.625. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 55.3. It is in a preliminary Squeeze.
High Yield bond ETF (HYG) closed at 80.68. Daily trading range – 0.83. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 55.5.
Currency
The dollar index ($DXY) closed at 99.933. Daily trading range – 0.734. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 51.9.
EUR/USD closed at 1.0837. Daily trading range – 0.0094. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 45.7.
USD/JPY closed at 107.88. Daily trading range – 0.9169. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 47.7.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLV, XLP, XLK, /ES, XLU, XLY, SPX, SPY, XLB, XLI, XLF and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, XLP, XLK, /ES, XLU, XLY, SPX, SPY, XLB, XLI, XLF and XLE.
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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