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17 April 2020 – Weekly Review – Unemployment soars, Indices up


Summary (Weekly Chart)
$DJTDownTrend. /YMDownTrend. /RTYDownTrend. /NQUpTrend. /ESUpTrend.

/CLDownTrend. /GCUpTrend and in a preliminary Squeeze. /ZB – UpTrend. $DXYUpTrend. HYGDownTrend.

Summary (Daily Chart)
$DJTUpTrend. /YMUpTrend. /RTYUpTrend and in a preliminary Squeeze. /NQUpTrend. /ESUpTrend.

/CLDownTrend. /GCUpTrend and in a preliminary Squeeze. /ZB – UpTrend. $DXYUpTrend. HYGDownTrend.

Market Internals (Daily Chart)
Market SentimentBullish. Put/Call ratio – 0.814. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downward and showing distribution. Longer term Volume Acc/Dis is still showing an UpTrend. Vix – 38.15 and Vix Futures – 34.80. Skew126.43.

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 is showing distribution but long term is showing accumulation UpTrend. Overall, market internals are giving a Buy signal. The prognosis is for Buying pressure to persist in the market.

Currency
The dollar index ($DXY) closed at 99.716. Daily trading range – 0.673. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 51.0.


EUR/USD closed at 1.0875. Daily trading range – 0.008. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 46.4.

USD/JPY closed at 107.56. Daily trading range – 0.781. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 45.8.

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

On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, XLP, XLU, XLY, XLK, SPX, /ES, 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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