Daily status of the futures of Gold (GC), WTI Crude (CL), Nasdaq 100 (NQ) and S&P 500 (ES)
Futures (ES, NQ, GC, CL) – 27 June 2017
27 June 2017
Daily status of the futures of Gold (GC), WTI Crude (CL), Nasdaq 100 (NQ) and S&P 500 (ES)
Futures (ES, NQ, GC, CL) – 23 June 17
23 June 2017
Daily status of the futures of Gold (GC), WTI Crude (CL), Nasdaq 100 (NQ) and S&P 500 (ES)
Options – 18 December 15 Monthly Income – Bull PUT on SPX
Update
14 December 2015
We closed this CALL credit spread and bought it back for $0.05. Overall, it was a small profit to be redeployed for the next trade.
8 December 2015
We sold a monthly CALL credit spread at 2135/2145 for $1.10. The total Return-on-Risk for this new trade is 1.10/8.90 = 12.36 % excluding transaction cost.
The PUT credit spread was closed for $1.75.
27 November 2015
We sold a monthly PUT credit spread at 2015/2005 for $1.15. The total Return-on-Risk for this new trade is 1.15/8.85 = 13.00 % excluding transaction cost. Expiration is at 9:30 am, 18 December 2015 (EST)
Options – 21 August 15 Monthly Income – Bull PUT on SPX
Update
21 August 2015
This PUT credit spread expired worthless. The Settlement price was 2015.47.
13 July 2015
We sold a monthly PUT credit spread at 1980/1970 for $1.30. The total Return-on-Risk for this new trade is 1.30/8.70 = 14.94 % excluding transaction cost. Expiration is at 9:30 am, 21
August 2015 (EST)
Options – 17 July 15 Monthly Income – Bull PUT on SPX
Update
13 July 2015
We closed this trade by buying it back for $0.05. Option expiration is this coming Friday morning.
15 June 2015
We sold a monthly PUT credit spread at 1980/1970 for $1.30. The total Return-on-Risk for this new trade is 1.30/8.70 = 14.94 % excluding transaction cost. Expiration is at 9:30 am, 17
July 2015 (EST)
Options – 18 June 15 Monthly Income – Bear Call on SPX
Update
5 June 2015
We closed this trade by buying it back for $0.05. Option expiration is another 2 weeks away.
18 May 2015
We sold a monthly CALL credit spread at 2185/2195 for $1.05. The total Return-on-Risk for this new trade is 1.05/8.95 = 11.7 % excluding transaction cost. Expiration is at 9:30 am, 19 June 2015 (EST)
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Indices Dow Transportation gapped down and closed at 10730.28 with a bullish spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 164.1. Fractal Chaos Band – Closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 61.8.
Dow Industrial gapped down and closed at 27076.82 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 186.96. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 60.3.
Russell 2000 closed at 1584.597 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 19.93. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 64.8.
Nasdaq 100 gapped down and closed at 7852.4124 with a small candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 61.19. Fractal Chaos Band – 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 – Strong Upward. RSI – 55.6.
S&P 500(SPX) gapped down and closed at 2997.96 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.72. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 59.7.
Metals and Commodities WTI Crude oil futures (CL) closed at $61.88 per barrel with a huge spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 8.56. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 66.3.
Gold (/GC) closed at 1505.9 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 24. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 49.9.
Commodities (DBC) ETF gapped up and closed at 15.78 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.84. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 67.8.
Bonds Bond futures (/ZB) closed at 158’25 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.7812. Fractal Chaos Band – Below its FCB Lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 39.7.
High Yield bond ETF (HYG) closed at 87.47 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.32. Fractal Chaos Band – crossed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.2.
Currency The dollar index ($DXY) closed at 98.644 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.854. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 55.2.
EUR/USD closed at 1.1 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0092. Fractal Chaos Band – 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 – 42.2.
USD/JPY closed at 108.08 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.743. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 63.4.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, SPY, XLF, /ES, SPX, XLE, XLU, XLK, XLY, XLB, XLP and XLV.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, SPY, /ES, SPX, XLF, XLK, XLU, XLY, XLB, XLP, XLV and XLE.
Market Internals Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 119.16. Vix – 14.67 and Vix Futures – 14.70.
The Week Ahead Market internals continue to show bullishness. Skew is normal. Vix and Vix futures are below 15. Oil spiked due to events in Saudi Arabia and impacted their production level. High Yield bond continues to trend upwards. The prognosis is for continuing buying pressure on Oil and also for the indices to continue to trend upward.
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Indices (Weekly chart) Dow Transportation closed at 10813.62 with a big bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 553.81. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 57.2.
Dow Industrial closed at 27219.52 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 589.68. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium CycleWave – positive and rising. Short cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. It is in a monthly Squeeze. RSI – 59.4.
Russell 2000 closed at 1578.1382 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 84.2853. Fractal Chaos Band -Within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – negative and rising slope. Short Cycle Wave – negative and rising slope. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 55.6.
Nasdaq 100 closed at 7892.9546 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 231.71. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 58.7.
S&P 500 closed at 3007.39 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 63.73. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 59.3.
Indices Dow Transportation closed at 10713.51 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 125.18. Fractal Chaos Band – Closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 62.9.
Dow Industrial closed at 27182.45 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 201.72. Fractal Chaos Band – Above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 63.3.
Russell 2000 closed at 1575.0656 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 17.91. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 63.2.
Nasdaq 100 gapped up and closed at 7917.3398 with a low closing doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 87.745. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 59.7.
S&P 500(SPX) gapped up and closed at 3009.57 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 19.82. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 62.4.
Indices Dow Transportation closed at 10761.19 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 173.58. Fractal Chaos Band – Closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 64.6.
Dow Industrial closed at 27137.04 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 251.56. Fractal Chaos Band – Above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 62.7.
Russell 2000 closed at 1575.7122 with a big bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 33.95. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 63.4.
Nasdaq 100 closed at 7887.5806 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 76.27. Fractal Chaos Band – crossed above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 58.5.
S&P 500(SPX) closed at 3000.93 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 25.62. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 61.3.
Indices Dow Transportation closed at 10672.12 with a big bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 207.05. Fractal Chaos Band – Closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 62.8.
Dow Industrial closed at 26909.43 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 192.38. Fractal Chaos Band – Above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 59.6.
Russell 2000 closed at 1542.9887 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 27.0705. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 58.1.
Nasdaq 100 gapped down and closed at 7814.7423 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 88.7884. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 55.3.
S&P 500(SPX) gapped down and closed at 2979.39 with a small bullish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 22.38. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 58.4.
Indices Dow Transportation closed at 10510.56 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 213.8. Fractal Chaos Band – Closed above 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 – 59.5.
Dow Industrial closed at 26835.51 with a small spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 138.65. Fractal Chaos Band – Above 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 – 58.6.
Russell 2000 closed at 1524.2308 with a bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 20.931. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 54.6.
Nasdaq 100 closed at 7832.4032 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 81.56. 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 – Weak UpTrend. Momentum – Strong Upward. RSI – 56.3.
S&P 500(SPX) gapped up and closed at 2978.43 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 20.04. Fractal Chaos Band – above 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 – 58.2.
Indices (Weekly chart) Dow Transportation closed at 10302.92 with a bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Weekly trading range – 516.6. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 49.6.
Dow Industrial closed at 26,797.46 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 882.65. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium CycleWave – positive and rising. Short cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Downward. It is in a monthly Squeeze. RSI – 56.1.
Russell 2000 closed at 1505.1679 with a small bullish candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Weekly trading range – 54.32. Fractal Chaos Band -Within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and rising slope. Short Cycle Wave – negative and rising slope. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 46.5.
Nasdaq 100 closed at 7852.5386 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 295.151. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction – Weak UpTrend. Momentum – Neutral. RSI – 54.2.
S&P 500 closed at 2978.71 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 94.01. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Neutral. RSI – 57.4.
Indices Dow Transportation gapped up and closed at 10369.92 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 300.98. Fractal Chaos Band – Closed above 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 – 56.7.
Dow Industrial gapped down and closed at 26728.15 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 480.83. Fractal Chaos Band – Above 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 – 57.1.
Russell 2000 closed at 1510.7453 with a big bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 37.029. Fractal Chaos Band – crossed above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 51.9.
Nasdaq 100 gapped up and closed at 7862.5391 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 160.7211. Fractal Chaos Band – closed above its FCB Upperband. 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 – 57.8.
S&P 500(SPX) gapped up and closed at 2976 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 48.08. Fractal Chaos Band – 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 – 58.
Indices Dow Transportation closed at 10111.31 with a small bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range is 130.83. 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 – 50.
Dow Industrial gapped down and closed at 26355.47 with a small bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 244.33. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 52.
Russell 2000 closed at 1484.7575 with a small bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 15.654. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle – positive and rising. Market direction – Weak DownTrend. Momentum – Strong Upward. RSI – 46.4.
Nasdaq 100 gapped up and closed at 7719.2464 with a small bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 115.4. 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 – Weak UpTrend. Momentum – Strong Upward. RSI – 52.4.
S&P 500(SPX) gapped up and closed at 2937.78 with a bullish marubozu candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 32.57. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 53.3.
Indices Dow Transportation gapped down and closed at 9991.52 with a bearish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range is 217.21. 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 DownTrend. Momentum – Weak Upward. RSI – 46.4.
Dow Industrial gapped down and closed at 26118.02 with a hammer candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 425.06. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 48.3.
Russell 2000 closed at 1472.2828 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 27.3698. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle – positive and rising. Market direction – Strong DownTrend. Momentum – Strong Upward. RSI – 43.5.
Nasdaq 100 gapped down and closed at 7609.5132 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 106.1812. 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 – 47.5.
S&P 500(SPX) gapped down and closed at 2906.27 with a doji candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 34.61. Fractal Chaos Band – 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 – 49.
16 September 2019 – Oil rockets, market grinds up!
Indices
Dow Transportation gapped down and closed at 10730.28 with a bullish spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 164.1. Fractal Chaos Band – Closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 61.8.
Dow Industrial gapped down and closed at 27076.82 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 186.96. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 60.3.
Russell 2000 closed at 1584.597 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 19.93. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 64.8.
Nasdaq 100 gapped down and closed at 7852.4124 with a small candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 61.19. Fractal Chaos Band – 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 – Strong Upward. RSI – 55.6.
S&P 500 (SPX) gapped down and closed at 2997.96 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.72. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 59.7.
Metals and Commodities
WTI Crude oil futures (CL) closed at $61.88 per barrel with a huge spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 8.56. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 66.3.
Gold (/GC) closed at 1505.9 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 24. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 49.9.
Commodities (DBC) ETF gapped up and closed at 15.78 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.84. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 67.8.
Bonds
Bond futures (/ZB) closed at 158’25 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.7812. Fractal Chaos Band – Below its FCB Lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 39.7.
High Yield bond ETF (HYG) closed at 87.47 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.32. Fractal Chaos Band – crossed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.2.
Currency
The dollar index ($DXY) closed at 98.644 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.854. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 55.2.
EUR/USD closed at 1.1 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0092. Fractal Chaos Band – 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 – 42.2.
USD/JPY closed at 108.08 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.743. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 63.4.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, SPY, XLF, /ES, SPX, XLE, XLU, XLK, XLY, XLB, XLP and XLV.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, SPY, /ES, SPX, XLF, XLK, XLU, XLY, XLB, XLP, XLV and XLE.
Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 119.16. Vix – 14.67 and Vix Futures – 14.70.
The Week Ahead
Market internals continue to show bullishness. Skew is normal. Vix and Vix futures are below 15. Oil spiked due to events in Saudi Arabia and impacted their production level. High Yield bond continues to trend upwards. The prognosis is for continuing buying pressure on Oil and also for the indices to continue to trend upward.
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