Summary (The Week Ahead) $DJT – UpTrend and exited preliminary Squeeze. /YM – UpTrend. /RTY – UpTrend and exited preliminary Squeeze. /NQ – UpTrend. /ES – UpTrend.
/CL – DownTrend and exited preliminary Squeeze. /GC – UpTrend. /ZB – UpTrend and in a preliminary Squeeze. $DXY – DownTrend and in a Squeeze. HYG – DownTrend.
Market Internals Market Sentiment – Bullish. Put/Call ratio – 0.759. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Vix – 33.57 and Vix Futures – 33.60. Skew – 129.23.
All the indices are now above their 50 SMA. Oil (June contract) made some small gain and has exited its volatility compression. Gold is indecisive but above 1700. Market Sentiment is bullish. Market internals are showing bullishness. Overall, the market is giving bullish signals in the indices. The HYG which is the ETF for high yield bonds is still in a down trend and hence some caution has to be exercised. HYG measures the market risk and it does not appear that there is much appetite for that risk right now. The prognosis is for a Bullish market but with caution.
Intermarket Analysis WTI Crude oil futures (CL) closed at $12.93. Daily trading range – 3.62. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 36.3. It has exited its preliminary Squeeze.
Gold (/GC) closed at 1724.4. Daily trading range – 27.8. Fractal Chaos Band – closed within its FCB. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 56.6.
Commodities (DBC) ETF closed at 10.51. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 29.2.
Bonds Bond futures (/ZB) closed at 181’26. Daily trading range – 2.125. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Strong Downward. RSI – 57.5. It is in a preliminary Squeeze.
High Yield bond ETF (HYG) closed at 78.88. Daily trading range – 0.675. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 50.
Currency The dollar index ($DXY) closed at 99.96. Daily trading range – 0.759. Fractal Chaos Band – closed within its FCB. Market direction – Neutral. Momentum – Weak Downward. RSI – 49.
EUR/USD closed at 1.0819. Daily trading range – 0.0078. Fractal Chaos Band – closed below its FCB. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 46.7.
USD/JPY closed at 106.85. Daily trading range – 0.78. Fractal Chaos Band – closed below its FCB. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 38.9.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLV, XLP, XLY, XLB, /ES, XLK, XLU, SPX, SPY, XLI, XLE and XLF.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, XLP, XLY, XLB, /ES, XLK, XLU, SPX, SPY, 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.
28 April 2020 – Indecision
Summary (The Week Ahead)
$DJT – UpTrend and exited preliminary Squeeze. /YM – UpTrend. /RTY – UpTrend and exited preliminary Squeeze. /NQ – UpTrend. /ES – UpTrend.
/CL – DownTrend and exited preliminary Squeeze. /GC – UpTrend. /ZB – UpTrend and in a preliminary Squeeze. $DXY – DownTrend and in a Squeeze. HYG – DownTrend.
Market Internals
Market Sentiment – Bullish. Put/Call ratio – 0.759. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Vix – 33.57 and Vix Futures – 33.60. Skew – 129.23.
All the indices are now above their 50 SMA. Oil (June contract) made some small gain and has exited its volatility compression. Gold is indecisive but above 1700. Market Sentiment is bullish. Market internals are showing bullishness. Overall, the market is giving bullish signals in the indices. The HYG which is the ETF for high yield bonds is still in a down trend and hence some caution has to be exercised. HYG measures the market risk and it does not appear that there is much appetite for that risk right now. The prognosis is for a Bullish market but with caution.
Intermarket Analysis
WTI Crude oil futures (CL) closed at $12.93. Daily trading range – 3.62. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 36.3. It has exited its preliminary Squeeze.
Gold (/GC) closed at 1724.4. Daily trading range – 27.8. Fractal Chaos Band – closed within its FCB. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 56.6.
Commodities (DBC) ETF closed at 10.51. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 29.2.
Bonds
Bond futures (/ZB) closed at 181’26. Daily trading range – 2.125. Fractal Chaos Band – closed within its FCB. Market direction – Strong UpTrend. Momentum – Strong Downward. RSI – 57.5. It is in a preliminary Squeeze.
High Yield bond ETF (HYG) closed at 78.88. Daily trading range – 0.675. Fractal Chaos Band – closed within its FCB. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 50.
Currency
The dollar index ($DXY) closed at 99.96. Daily trading range – 0.759. Fractal Chaos Band – closed within its FCB. Market direction – Neutral. Momentum – Weak Downward. RSI – 49.
EUR/USD closed at 1.0819. Daily trading range – 0.0078. Fractal Chaos Band – closed below its FCB. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 46.7.
USD/JPY closed at 106.85. Daily trading range – 0.78. Fractal Chaos Band – closed below its FCB. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 38.9.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLV, XLP, XLY, XLB, /ES, XLK, XLU, SPX, SPY, XLI, XLE and XLF.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, XLP, XLY, XLB, /ES, XLK, XLU, SPX, SPY, 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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