Summary (The Week Ahead) $DJT – UpTrend. /YM – UpTrend. /RTY – UpTrend and in a preliminary Squeeze. /NQ – UpTrend. /ES – UpTrend.
/CL – DownTrend and in Squeeze. /GC – DownTrend. /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 – 43.83 and Vix Futures – 38.30. Skew – 125.34.
News that Oil contract with May delivery has collapsed to negative pricing sent the indices downward. Market Sentiment remains bullish. Short term market volume is showing distribution but long term is still showing accumulation UpTrend. Overall, market internals are giving a weak Buy signal. Besides the fight against the corona virus pandemic, there is the collapsing demand in oil and that has created a problem for the oil industry. The prognosis is for a weak Buying pressure in the market and a potential pullback in the indices.
Intermarket Analysis WTI Crude oil futures (CL) closed at $21.22. Oil futures has rolled over to the June contract month. Daily trading range – 4.95. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 42.2. It is in a Squeeze.
Gold (/GC) closed at 1712.4. Daily trading range – 33.4. Fractal Chaos Band – closed within its FCB. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 56.1.
Commodities (DBC) ETF closed at 11.25. Daily trading range – 0.22. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 37.6.
Bonds Bond futures (/ZB) closed at 181’06. Daily trading range – 1.1562. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 58.1. It is in a preliminary Squeeze.
High Yield bond ETF (HYG) closed at 79.87. Daily trading range – 1.37. Fractal Chaos Band – closed within its FCB. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 52.7.
Currency The dollar index ($DXY) closed at 99.946. Daily trading range – 0.4209. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 52.8.
EUR/USD closed at 1.0861. Daily trading range – 0.0055. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 45.6.
USD/JPY closed at 107.60. Daily trading range – 0.4639. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 47.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLV, XLP, XLY, XLU, /ES, 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, XLY, XLK, /ES, XLU, 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.
20 April 2020 – Oil goes negative!
Summary (The Week Ahead)
$DJT – UpTrend. /YM – UpTrend. /RTY – UpTrend and in a preliminary Squeeze. /NQ – UpTrend. /ES – UpTrend.
/CL – DownTrend and in Squeeze. /GC – DownTrend. /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 – 43.83 and Vix Futures – 38.30. Skew – 125.34.
News that Oil contract with May delivery has collapsed to negative pricing sent the indices downward. Market Sentiment remains bullish. Short term market volume is showing distribution but long term is still showing accumulation UpTrend. Overall, market internals are giving a weak Buy signal. Besides the fight against the corona virus pandemic, there is the collapsing demand in oil and that has created a problem for the oil industry. The prognosis is for a weak Buying pressure in the market and a potential pullback in the indices.
Intermarket Analysis
WTI Crude oil futures (CL) closed at $21.22. Oil futures has rolled over to the June contract month. Daily trading range – 4.95. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 42.2. It is in a Squeeze.
Gold (/GC) closed at 1712.4. Daily trading range – 33.4. Fractal Chaos Band – closed within its FCB. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 56.1.
Commodities (DBC) ETF closed at 11.25. Daily trading range – 0.22. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 37.6.
Bonds
Bond futures (/ZB) closed at 181’06. Daily trading range – 1.1562. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 58.1. It is in a preliminary Squeeze.
High Yield bond ETF (HYG) closed at 79.87. Daily trading range – 1.37. Fractal Chaos Band – closed within its FCB. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 52.7.
Currency
The dollar index ($DXY) closed at 99.946. Daily trading range – 0.4209. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 52.8.
EUR/USD closed at 1.0861. Daily trading range – 0.0055. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 45.6.
USD/JPY closed at 107.60. Daily trading range – 0.4639. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 47.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLV, XLP, XLY, XLU, /ES, 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, XLY, XLK, /ES, XLU, 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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