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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)

Options – 15 May 15 Monthly Income – Bear Call on SPX

Update

6 May 2015

We closed this trade by buying it back for $0.05. Option expiration is next week.

27 April 2015

We sold a monthly CALL credit spread at 2160/2170 for $1.20. The total Return-on-Risk for this new trade is 1.20/8.80 = 13.6 % excluding transaction cost. Expiration is at 9:30 am, 15 May 2015 (EST)

Options – 17 April 15 Monthly Income – Bull PUT on SPX

Update

17 April 2015

The PUT spread expired worthless and we now move on to the next trade.

19 March 2015

We sold a monthly PUT credit spread at 2020/2010 for $1.60. The total Return-on-Risk for this new trade is 1.60/8.40 = 19.05 % excluding transaction cost. Expiration is at 9:30 am, 17 April 2015 (EST)

Options – 20 March 15 Monthly Income – Bear Call on SPX

Update

18 March 2015

We bought this back for $0.05. This trade is now closed.

12 March 2015

We sold a PUT credit spread at 2020/2010 for $2.00. ROR is at 2.00/8.090 = 25.00 % excluding transaction cost.

9 March 2015

We closed off the monthly PUT credit spread at 2050/2040 for $2.45. ROR is now reduced to 0.85/9.15 = 9.28 % excluding transaction cost.

24 February 2015

We sold a monthly PUT credit spread at 2050/2040. We have now an Iron Condor with ROR at 3.30/6.70 = 49.25 % excluding transaction cost.

13 February 2015

We sold a monthly CALL credit spread at 2160/2170 for $1.65. The total Return-on-Risk for this new trade is 1.65/8.35 = 19.76 % excluding transaction cost. Expiration is at 9:30 am, 20 March 2015 (EST)

Options – 16 January 15 Monthly Income – Iron Condor on SPX

Update

10 January 2015

We bought back the PUT credit spread at 1990/1980 for $1.15. The total Return-on-Risk is 1.15/8.85 = 13%.

7 January 2015

We sold a PUT credit spread at 1990/1980 for $2.30. The total Return-on-Risk for this new trade is 2.35/7.65 = 30.7 % excluding transaction cost.

6 January 2015

We closed both legs of the Iron Condor for a total of $2.35. The total Return-on-Risk is (2.95 - 2.35)/9.40 = 6 % excluding transaction cost.

26 December 2014

We have sold an Iron Condor on the SPX for the January 2015 expiry. The CALL credit spread at 2135/2145 and the PUT credit spread is at 2040/2030. The Return-on-Risk is 2.95/7.05 = 41.7 % excluding transaction cost.

23 September 2016 – Bulls in charge for the week


We have seen a big week for the market after the Bank of Japan and the Fed have made their decisions. The market exploded upward on Wednesday and today, the market traded largely downwards and spent the entire day in negative territory. This came after two days of big moves to the upside and traders were taking profit to close off the week.

WTI crude oil has been rising for the past three days and today, it closed down at $44.59 per barrel. It has formed a wedge formation on its daily chart. The commodities and agriculture ETF have been pulling back for the last 3 months as well.

Gold and Silver is still in its daily and weekly uptrend. Gold and Silver futures have been pulling back for the last 3 months.

The dollar index has been trading sideways for the last 5 weeks and it looks to explode upward or sideways.

Bond futures traded higher and closed with a bullish candle below its 21 EMA on the weekly chart.

Dow Transportation range traded within its first half hour high and low throughout the day. It closed with a spinning top doji candle above all its moving averages. Momentum remains upward. Volumetric buying pressure is at 26.4%. The index is in its weekly and monthly Squeeze.

On the weekly chart, it closed with a bullish marubozu candle above its 21 EMA. The weekly candles are sideways next to each other for the last 3 months.

Dow Industrial sold off on market open and came under selling pressure throughout the day. It closed with a bearish marubozu candle below its 21 EMA and 50 SMA. Momentum remains downward. Short term volumetric buying pressure is at 57.5%. The index is in a monthly Squeeze.

On its weekly chart, it closed with a inverted hammer candle below its 8 EMA and above its 21 EMA. Momentum remains upward.

Russell 2000 dropped on market open and came under selling pressure throughout the day. It closed with a bearish marubozu candle above its moving averages. Momentum remains downward. Volumetric buying pressure is at 76.4%.

On the weekly chart, it closed with a big bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Momentum is upward.

Nasdaq 100 whipsawed down and up till after midday. It had a sharp drop in early afternoon trading and recovered to close with a bearish marubozu candle. Momentum is upward. Volumetric buying pressure is at 88.8%. The index is in a monthly Squeeze.

On its weekly chart, it closed with a spinning top doji candle above all its moving averages.

S&P 500 range traded till midday when it suffered a sharp drop. It recovered and closed with a bearish marubozu candle below its 50 SMA but above its 21 EMA. Momentum remains upward. Volumetric buying pressure is at 44.2%.

On its weekly chart, it closed with a rolling pin candle above all its moving averages. The index is still in a monthly Squeeze.

Metals and Commodities
On the weekly chart, WTI Crude oil futures closed at $44.59 with a spinning top doji candle below its 21 EMA. Momentum is downward.

On the weekly chart, Gold futures closed at $1341.1 per ounce with a bullish candle above its 21 EMA. Momentum remains upward.

On the weekly chart, Silver futures closed at $19.775 per ounce with a bullish candle above its 200 SMA. Momentum remains upward.

On the weekly chart, agriculture (DBA) ETF closed at 20.47 with a low closing doji candle below its 8 EMA and 21 EMA. Momentum remains downward.

On the weekly chart, commodities (DBC) ETF closed at 14.57 with a small spinning top doji candle. The weekly 8 EMA and 21 EMA have converged. Momentum is neutral.

Bonds
On the weekly chart, High Yield bond ETF (HYG) closed at $86.76 with a bullish candle above its 21 EMA. Momentum is upward.

On the weekly chart, Bonds ETF (TLT) closed at 136.82 with a bullish candle below its 8 EMA but above its 21 EMA. Momentum remains upward.

Currencies
On the weekly chart, the dollar index closed at 95.410 with a bearish candle. The 8 EMA and 21 EMA have converged and a Squeeze has formed. Momentum is sideways.

On the weekly chart, EUR/USD closed at 1.12237 with a bullish candle. The 8 EMA and 21 EMA have converged. It is in a Squeeze. Momentum is sideways.

On the weekly chart, USD/JPY closed at 100.98 with bearish candle below its 8 EMA and 21 EMA. Momentum remains downward.

Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLK, XLV and XLI respectively.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLF and XLI respectively.

Market Internals
Vix closed at 12.29. Vix futures is at 15.47. Skew is at 125.13. Market sentiment is bullish. Market breadth is sloping upward showing nett gainers to losers. Volumetric accumulation/distribution is sloping upward showing nett accumulation.

The Week Ahead
The market continues to show strength. There is unlikely to be an interest rate hike till December 2016, at the earliest. Market internals show strength. The prognosis is for new highs in the indices.

Stock of the Day
The Stock of the Day is TROX. Tronox is engaged in the production and marketing of titanium bearing mineral sands and titanium dioxide pigment.

 

To YOUR wealth!

29 September 2016 – Deutsche Bank sinks market

Deutsche Bank shares tanked 6.7% amid concerns that DB may be unable to settle its potential US14 Billion fine from the US Depart of Justice. The market was settling in for a normal day of trading till midday when the DB issue took centre stage. A news report said some hedge funds that clear derivatives through the Frankfurt-based firm had withdrawn some excess cash and positions. While the vast majority of the bank’s more than 200 derivatives-clearing clients have made no changes, around 10 hedge funds moved a portion of their listed derivatives holdings to other firms this week as reported by Bloomberg. Following that, the indices sold off and volatility spiked.

Oil futures managed a small gain following Wednesday big surge on news of production cuts agreement amongst OPEC countries.

Bonds made small gains for the day.

The dollar index was slightly up for the day and is still range trading.

Dow Transportation traded up till midday before a general market sell-off. It closed with a low closing spinning top doji candle above its moving averages. Momentum remains upward. Volumetric buying pressure is at 33.9%. The index is in a daily, weekly and monthly Squeeze.

Dow Industrial range traded in the morning before a general selloff started at midday. It closed with a bearish candle below its moving averages. Momentum is downward. Short term volumetric buying pressure is at 75.6%. The index is in a monthly Squeeze.

Russell 2000 traded slightly downward till midday before the Deutsche Bank news triggered a general selloff. It closed with a bearish marubozu candle below its 21 EMA but above its 50 SMA. Momentum remains upward. Volumetric buying pressure is at 52.8%.

Nasdaq 100 traded slightly downward till midday before it came under selling pressure. It closed with a bearish rolling pin candle above its 21 EMA. Momentum remains upward. Volumetric buying pressure is at 97.2%. The index is in a monthly Squeeze.

S&P 500 range traded till midday before coming under selling pressure. It closed with a bearish rolling pin candle below its 21 EMA and 50 SMA. Momentum has turned downward. Volumetric buying pressure is at 60.3%. The index is still in a monthly Squeeze.

Metals and Commodities
WTI Crude oil futures had another positive day and is trading at $47.66 per barrel above its moving averages and in a Squeeze.

Gold futures is trading at $1327.8 per ounce. Momentum is sideways.

Silver futures is trading at $19.185 per ounce. Momentum remains downward.

Agriculture (DBA) ETF gapped down and closed at 20.15 with a bearish candle and below its 21 EMA. Momentum is downward.

Commodities (DBC) ETF gapped up and closed with a bullish spinning top candle at 14.96.

Bonds
High Yield bond ETF (HYG) closed with a bearish harami candle above its moving averages at 86.88. Momentum remains upward.

Bonds ETF (TLT) gapped down but surged upward to close with a bullish candle above its moving averages. It is trading at 138.75 above its 50 SMA. Momentum is upward.

Currencies
The dollar index is at 95.475 and is in a daily Squeeze. Momentum is neutral.

EUR/USD is trading at 1.1214 and on its 21 EMA. It is in a daily Squeeze. Momentum is sideways.

USD/JPY is trading at 101.090 and closed with an inverted hammer candle below its 21 EMA. Momentum remains downward.

On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLK, XLI, XLU, XLB and XLY respectively.

On a 3-month lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLE, XLF, XLB and XLI.

Market Internals
Vix closed at 14.02. Vix futures is at 16.35. Skew is at 122.67. Market sentiment has turned neutral. Market breadth has flattened. Volumetric accumulation/distribution is sloping upward.

The Week Ahead
Volatility continues and traders are being whipsawed around. With the US election being about six weeks away, the market is now rather news driven. The prognosis is for more volatility and whipsaw action.

Stock of the Day
The Stock of the Day is TROX. Tronox is engaged in the production and marketing of titanium bearing mineral sands and titanium dioxide pigment.

 

To YOUR wealth!

28 September 2016 – Oil spikes up on production curb

Oil came to the rescue after the market sold down in morning trading. The energy sector led the market up. Oil companies CVX, XOM and many other related companies performed well.

Bonds had a quiet day and ended the day where it began.

The dollar index is forming a wedge and is in a Squeeze.

Dow Transportation traded upward in the first half hour and whipsawed throughout the day. It closed with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Momentum remains upward. Volumetric buying pressure is at 54.2%. The index is in a daily, weekly and monthly Squeeze.

Dow Industrial sold off on market open till mid-morning. in the morning session and recovered and rallied . Momentum is downward. Short term volumetric buying pressure is at 98%. The index is in a monthly Squeeze.

Russell 2000 sold off till mid-morning before surging upward for the rest of the day. It closed with a bullish marubozu candle above its moving averages. Momentum remains upward. Volumetric buying pressure is at 82%.

Nasdaq 100 sold off till mid-morning before recovering and trading up for the rest of the day. It closed with a high closing doji candle above its moving averages. Momentum remains upward. Volumetric buying pressure is at 100%. The index is in a monthly Squeeze.

S&P 500 sold off till mid-morning before recovering and surged upward. It closed with a bullish candle above its 50 SMA. Momentum is upward. Volumetric buying pressure is at 77.4%. The index is still in a monthly Squeeze.

Continue reading 28 September 2016 – Oil spikes up on production curb

27 September 2016 – Volatility and the election year

The major indices reversed upward after two days of decline. The market renewed its confidence from the September Consumer Confidence which rose to 104.1. There is no sign of a production freeze deal at the Opec meeting and oil traded down for the day. The debate between the presidential candidates Donald Trump and Hillary Clinton was scored in favour of Hillary Clinton by the media.

Dow Transportation traded upward on market open and continued upward throughout the day. It closed with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Momentum remains upward. Volumetric buying pressure is at 48.1%. The index is in its monthly Squeeze.

Dow Industrial traded upward on market open and continued upward for the rest of the day. It painted a bullish engulfing candle and closed on its 8 EMA below its 21 EMA. Momentum is downward. Short term volumetric buying pressure is at 64.9%. The index is in a monthly Squeeze.

Russell 2000 grinded upward on market open and closed with a small bullish candle above its moving averages. Momentum remains upward. Volumetric buying pressure is at 55.8%.

Nasdaq 100 traded upward on market open and continued upward for the rest of the day. It closed with a bullish marubozu candle above its moving averages. Momentum remains upward. Volumetric buying pressure is at 93.8%. The index is in a monthly Squeezes.

S&P 500 traded upward on market open and continued upward for the rest of the day. It closed with a bullish engulfing candle on its 21 EMA. Momentum is neutral. Volumetric buying pressure is at 45.4%. The index is still in a monthly Squeeze.

Continue reading 27 September 2016 – Volatility and the election year

26 September 2016 – Deutsche Bank tanks, US election uncertainty

The market has been volatile lately and post-FOMC, it looked like there was nothing stopping the bulls. Wrong! US election loomed and political uncertainty and the sense of unease with the events in the US, with shootings and deaths over the weekend contributed to that unease. Meanwhile in Europe, Deutsche Bank is in meltdown mode with huge losses and no political support from the German government.

Stocks opened lower and continued lower throughout the day. WTI crude jumped over 3% and has been volatile lately. The financial sector underperformed due to problems at Deutsche Bank. Bonds gained for the day while the dollar index ended down. Otherwise, the political debate between Hillary Clinton and Donald Trump dominated the news channel.

Dow Transportation gapped down on market open and traded upward in the first hour and then range traded for the rest of the day. It closed with a small doji candle above its 21 EMA. Momentum remains upward. Volumetric buying pressure is at 31%. The index is in its monthly Squeeze.

Dow Industrial gapped down on market open and continued trading downward for the rest of the day. It closed with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Momentum is downward. Short term volumetric buying pressure is at 26.9%. The index is in a monthly Squeeze.

Russell 2000 gapped down on market open and continued downward for the rest of the day. It closed with a bearish marubozu candle above its 21 EMA. Momentum remains upward. Volumetric buying pressure is at 45.6%.

Nasdaq 100 gapped down on market open and range traded for the rest of the day. It closed with a small bearish candle above its 21 EMA. Momentum remains upward. Volumetric buying pressure is at 74.3%. The index is still in a daily and monthly Squeezes.

S&P 500 gapped down on market open and range traded for the rest of the day. It closed with a bearish marubozu candle below its 21 EMA and 50 SMA. Momentum has reversed downward. Volumetric buying pressure is at 13.2%. The index is still in a monthly Squeeze.

Continue reading 26 September 2016 – Deutsche Bank tanks, US election uncertainty

22 September 2016 – Up Up and Away!

Nasdaq 100 made another all-time high and the market blasted upward post FOMC. The other indices such as the S&P 500 and Dow Jones Industrial are about 1% away from their all time highs. Post-FOMC, there is little fear in the marketplace and indices have ripped higher as investors pour in in an all out “buy everything” mode.

Energy stocks did well as WTI crude ripped higher by 2% after the EIA announced that domestic crude supplies fell by 6.2 millions barrels. Stocks, bonds, oil and gold and anything that have a price on it was bought up, well most of it anyway.

On the economic front, the Labor Department announced that applications for insurance benefits declined by 8,000 to 252,000 which was below the 260,000 expectation. As a comparison, this is the 81st consecutive week with claims below 300,000 (longest run since 1970).

Dow Transportation gapped up on market open and traded upward till after midday when it was sold down. It closed with an inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Volumetric buying pressure is at 30.3%. The index is in its monthly Squeeze.

Dow Industrial gapped up on market open and held its high and range traded for the rest of the day. It closed with an inverted hammer above its 21 EMA but below its 50 SMA. Momentum is neutral. Short term volumetric buying pressure is at 81.6%. The index is in a monthly Squeeze.

Russell 2000 gapped up on market open and traded upward throughout the day. It closed with a bullish marubozu candle above its 21 EMA and 50 SMA. Momentum is upward. Volumetric buying pressure is at 99.9%.

Nasdaq 100 gapped up on market and was volatile in the first three hours of trading as it grinded upward. There was more volatility in the afternoon and it made new high at 4895.5 before the bulls closed it with a small marubozu candle. Momentum remains upward. Volumetric buying pressure is at 99.8%. The index is still in a daily and monthly Squeezes.

S&P 500 gapped up on market open and range traded for the rest of the day. It closed with a bullish marubozu candle above its 21 EMA and 50 SMA. Momentum reversed upward. Volumetric buying pressure is at 69.7%. The index is still in a monthly Squeeze.

Continue reading 22 September 2016 – Up Up and Away!

21 September 2016 – Market soars post FOMC

The FED gave the market what it wanted and the indices soared past 2 pm EST. Interest rates are kept on hold again and the FED reiterated about a rate rise in the distant future. Nothing new here. Nasdaq 100 traded to new all time high and the rest of the other major indices painted a big bullish candle.

The FOMC convenes every six weeks and the next meeting will be in November. The presidential election will be held on the 8 November which essential means nothing will happen.

Earlier today, the Bank of Japan announced plans to target specific interest-rate level for the 10-year government bond.

WTI crude oil futures climbed back above $45 per barrel. Gold and Silver both painted big bullish candles.

The dollar index painted a bearish candles. Bond futures found support at the 200 SMA and painted a bullish candle as well.

Dow Transportation range traded till 2 pm EST when the FOMC announcement of no rate hike. It closed with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Volumetric buying pressure is at 46%. The index is in its monthly Squeeze.

Dow Industrial traded up in the first half hour before selling off till midday. It grinded upward till 2 pm EST and a half hour of volatile action before surging upward to close with a bullish marubozu candle on its 21 EMA. Momentum remains downward. Short term volumetric buying pressure is at 69.7%. The index is in a monthly Squeeze.

Russell 2000 traded upward in the first hour after making open and then sold down till midday. It made tentative moves upward till 2 pm EST before surging upward till the end of the day to close with a bullish marubozu candle above all the moving averages. Momentum is downward. Volumetric buying pressure is at 77.9%.

Nasdaq 100 made tentative move upward in the first hour but was sold down till midday. It started to recover till 2 pm and a half hour of volatile action before surging upward to close with a bullish candle above all its moving averages. Momentum is upward. Volumetric buying pressure is at 99.9%. The index is still in a daily and monthly Squeezes.

S&P 500 traded tentative upward for the first hour before selling off till midday. It made tentative move upward and experience a half hour of volatile action after 2 pm EST before surging upward. Momentum remains downward. Volumetric buying pressure is at 48.9%. The index is still in a monthly Squeeze.

Continue reading 21 September 2016 – Market soars post FOMC

20 September 2016 – Waiting for the FED

The market traded cautiously ahead of the FOMC meeting and also the Bank of Japan pronouncement due on Wednesday. The indices started with moves to the upside but that was sold into and by the end of the day, the major indices were showing losses for the day. We can expect volatility to shoot upwards and there could be bigger movements in the equities, bonds and currencies markets.

WTI crude traded higher for the day to above $44 per barrel. The dollar index made small gains and bonds range traded for the day.

Dow Transportation moved upward in the first half hour after market open but the move was sold into. It traded downward for the rest of the day and closed with an inverted hammer candle below its 8 EMA and 21 EMA. Momentum remains downward. Volumetric buying pressure is at 24.2%. The index is in its monthly Squeeze.

Dow Industrial traded upwards on market open but was sold into. It range traded for the rest of the day and closed with an inverted hammer candle below its 8 EMA and 21 EMA. Momentum remains downward. Short term volumetric buying pressure is at 14.3%. The index is in a monthly Squeeze.

Russell 2000 traded upward in the first half hour but was sold into. It range traded and for the rest of the day and closed with an inverted hammer candle. The 8 EMA, 21 EMA and 50 SMA are converging. Momentum is downward. Volumetric buying pressure is at 43.9%.

Nasdaq 100 traded upward in the first half hour and was sold into. It rallied in the afternoon and sold off in the last hour to close with a spinning top doji candle. Momentum is upward. Volumetric buying pressure is at 74.1%. The index is still in a daily and monthly Squeezes.

S&P 500 traded upward in the first half hour and sellers came in. It range traded for the rest of the day and closed with an inverted hammer candle below its 8 EMA and 21 EMA. Momentum remains downward. Volumetric buying pressure is at 10.6%. The index is still in a monthly Squeeze.

Continue reading 20 September 2016 – Waiting for the FED

19 September 2016 – New high in Nasdaq, market fizzles

The Nasdaq 100 made another new historic high at 4843.76 and the rest of the other indices are way behind in their enthusiasm. Stocks were volatile and opened higher but settled little changed. Investors wait on key central bank meetings this week. Both the FOMC and the Bank of Japan (BoJ) are meeting this week and the market is waiting on the outcome of their meetings. The market is not expecting the FED to announced an increase in interest rate.

WTI crude oil settled below $44 per barrel after breaching that level in earlier trading. Gold and Silver are still trending sideways.

The dollar index came down earlier during the day but recovered partially. Bond futures traded in rather narrow range.

Dow Transportation traded in a narrow range and closed with a small doji candle below its 8 EMA, 21 EMA and 50 SMA. Momentum remains downward. Volumetric buying pressure is at 46%. The index is in its monthly Squeeze.

Dow Industrial traded in the first hour of trading and then sold off steadily. It closed with a low closing spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Momentum remains downward. Short term volumetric buying pressure is at 44.6%. The index is in a monthly Squeeze.

Russell 2000 traded upward in the first hour of trading before levelling off till midday. It pulled back in the afternoon and closed with an inverted hammer candle on its 21 EMA and above its 50 SMA. Momentum is downward. Volumetric buying pressure is at 68.2%.

Nasdaq 100 made new high of 4843.76 in the first half hour of trading before selling off. It closed with a bearish candle above its 8 EMA and 21 EMA. Momentum is upward. Volumetric buying pressure is at 83.7%. The index is still in a monthly Squeeze.

S&P 500 traded hpward in the first half hour of trading and then was slowly sold down. It closed with a bearish low closing spinning top doji candle below its 8 EMA and 21 EMA. Momentum remains downward. Volumetric buying pressure is at 38%. The index is still in a monthly Squeeze.

Continue reading 19 September 2016 – New high in Nasdaq, market fizzles

16 September 2016 – A quiet day and volatile week


Investors have been caught in a cauldron throughout the week as stocks have traded up and down. Overall, the majority closed down for the week as rate fears persist. The Fed is not expected to raise interest rate in September.

Oil closed down for the week and is trading below $44 per barrel. Gold and Silver traded down for the week. Silver has been unable to break above its weekly 200 SMA.

The dollar index closed up for the week on its weekly chart. It has been in a range for the last 9 weeks.

High yield bond, HYG closed up for the week and it is still in an uptrend on its weekly chart. It has been a leading indicator of what the market and it has shown sign of weakness which could be indicative of the market direction. The 30 year treasury bond futures /ZB has been in a downtrend on its weekly chart.

The FOMC and Bank of Japan (BoJ) are set to release the meeting details next Wednesday and that could roil the market.

Overall, technology stocks led by Apple is leading the market. Energy and Financials led the decliners for the week.

Dow Transportation range traded from 7747.09 to 7802.98 throughout the day. It closed with a small bearish candle below its 8 EMA and 21 EMA. Volumetric buying pressure is at 59.8%. The index is in its monthly Squeeze.

The index closed the week with a low closing doji candle on its weekly chart. It has been range trading for the last 9 weeks. Weekly momentum remains upward.

Dow Industrial gapped down on market open and proceeded to range trade for the rest of the day. It closed with a bearish candle below its 8 EMA and 21 EMA. Momentum remains downward. Short term volumetric buying pressure is at 57.2%. The index is in a monthly Squeeze.

On its weekly chart, it closed just above its 21 EMA with an inverted hammer candle.

Russell 2000 traded down in the first hour after market open. It recovered and grinded upwards for the rest of the day and closed with a hammer candle above its 50 SMA. Momentum remains downward. Volumetric buying pressure is at 66.7%.

On the weekly chart, the index closed up for the week with a spinning top doji candle above its 8 EMA and 21 EMA.

Nasdaq 100 range traded throughout the day and had buying pressure came in the last hour. It closed with a small hammer candle above its 8 EMA and 21 EMA. Momentum is upward. Volumetric buying pressure is at 99.9%. The index is in a monthly Squeeze.

On its weekly chart, the index closed with a big bullish marubozu candle above its 8 EMA and 21 EMA.

S&P 500 gapped down on market open and proceeded to range trade for the rest of the day. It clsoed with a hammer candle below its 8 EMA and 21 EMA. Momentum remains downward. Volumetric buying pressure is at 60.1%.

On its weekly chart, it closed with an inverted hammer candle above its 21 EMA. The index is still in a monthly Squeeze.

Continue reading 16 September 2016 – A quiet day and volatile week