Indices
Dow Transportation closed at 11161.35 with a bullish candle above its 8EMA, 21 EMA and 50 SMA. Daily trading range was 110.87. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.
Dow Industrial closed at 25502.18 with a hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 158.64. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction – Neutral. It is in a weekly Squeeze. Fractal Bias – Bullish.
Russell 2000 closed at 1684.31 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 12.81. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Bullish. Fractal Bias – Neutral.
Nasdaq 100 closed at 7438.995 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 57.97. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Bullish. Fractal Bias – Neutral.
S&P 500 closed at 2850.40 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 17.31. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Bullish. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $68.68 per barrel with a high closing doji candle intertwined with its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.42. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Neutral.
Gold futures (GC) closed at 1215.6 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.6. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
Agriculture (DBA) ETF closed at 17.64 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA. Daily trading range was 0.1372. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Bull. Fractal Bias – Neutral.
Commodities (DBC) ETF closed at 17.19 with a small inverted hammer candle below its 50 SMA and above its 8 EMA and 21 EMA. Daily trading range was 0.13. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Neutral.
Bonds
Bond futures (/ZB) closed at 143’04 with an inverted hammer candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.6875. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 86.11 with a big bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.24. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a weekly Squeeze.
Currency
The dollar index ($DXY) closed at 95.361 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.316. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Bullish. It is in a Squeeze. Fractal Bias – Bullish.
EUR/USD closed at 1.1552 with a small bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.004. Intermediate Cycle is negative and falling. Short Cycle is negative and flat. Market direction: Sell. It is in a Squeeze. Fractal Bias – Bearish.
USD/JPY closed at 111.39 with a bullish candle intertwined with its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.3689. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Neutral.
6S (Swiss Franc) – closed at 1.0068 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0045. Intermediate Cycle is negative and flat. Short Cycle is negative and flat. Market direction: Bearish. It is in a Squeeze. Fractal Bias – Bearish.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLF, XLI, XLU, XLP, XLV and XLK .
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLP, XLU, XLY, XLK and XLF respectively.
Market Internals
Market sentiment is bullish. Market breadth is sloping upwards showing more gainers to losers. Volume Accumulation/ Distribution is sloping upwards showing nett accumulation. Skew is at 142.01. Vix is at 11.27 and Vix futures is at 13.15.
The Week Ahead
Market internals are now in sync and showing bullishness. Volatility Vix and Vix futures have decreased. SKEW continues to be high above 142. The prognosis is for the uptrend to continue but with some volatility.
ES – Intermediate Cycle – Positive/Rising. Current – Positive/Rising. Market direction – Bullish. Fractal Bias – Bullish.
NQ – Intermediate Cycle – Positive/Rising. Current – Positive/Rising. Market direction – Buy. It is in a Squeeze. Fractal Bias – Neutral
YM – Intermediate Cycle – Positive/Rising. Current – Positive/Falling. Market direction – Neutral. Weekly Squeeze. Fractal Bias – Bullish.
RTY – Intermediate Cycle – Positive/Falling. Current – Positive/Rising. Market direction – Buy. It is in a Squeeze. Fractal Bias – Bearish.
GC – Intermediate Cycle – Negative/Rising. Current – Negative/Falling. Market direction – Sell. Fractal Bias – Bearish.
CL – Intermediate Cycle – Negative/Falling. Current – Negative/Rising. Market direction – Sell. Fractal Bias – Neutral.
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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6 August 2018 – Indices push upward
Indices
Dow Transportation closed at 11161.35 with a bullish candle above its 8EMA, 21 EMA and 50 SMA. Daily trading range was 110.87. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.
Dow Industrial closed at 25502.18 with a hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 158.64. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction – Neutral. It is in a weekly Squeeze. Fractal Bias – Bullish.
Russell 2000 closed at 1684.31 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 12.81. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Bullish. Fractal Bias – Neutral.
Nasdaq 100 closed at 7438.995 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 57.97. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Bullish. Fractal Bias – Neutral.
S&P 500 closed at 2850.40 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 17.31. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Bullish. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $68.68 per barrel with a high closing doji candle intertwined with its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.42. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Neutral.
Gold futures (GC) closed at 1215.6 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.6. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
Agriculture (DBA) ETF closed at 17.64 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA. Daily trading range was 0.1372. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Bull. Fractal Bias – Neutral.
Commodities (DBC) ETF closed at 17.19 with a small inverted hammer candle below its 50 SMA and above its 8 EMA and 21 EMA. Daily trading range was 0.13. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Neutral.
Bonds
Bond futures (/ZB) closed at 143’04 with an inverted hammer candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.6875. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 86.11 with a big bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.24. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a weekly Squeeze.
Currency
The dollar index ($DXY) closed at 95.361 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.316. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Bullish. It is in a Squeeze. Fractal Bias – Bullish.
EUR/USD closed at 1.1552 with a small bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.004. Intermediate Cycle is negative and falling. Short Cycle is negative and flat. Market direction: Sell. It is in a Squeeze. Fractal Bias – Bearish.
USD/JPY closed at 111.39 with a bullish candle intertwined with its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.3689. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Neutral.
6S (Swiss Franc) – closed at 1.0068 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0045. Intermediate Cycle is negative and flat. Short Cycle is negative and flat. Market direction: Bearish. It is in a Squeeze. Fractal Bias – Bearish.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLF, XLI, XLU, XLP, XLV and XLK .
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLP, XLU, XLY, XLK and XLF respectively.
Market Internals
Market sentiment is bullish. Market breadth is sloping upwards showing more gainers to losers. Volume Accumulation/ Distribution is sloping upwards showing nett accumulation. Skew is at 142.01. Vix is at 11.27 and Vix futures is at 13.15.
The Week Ahead
Market internals are now in sync and showing bullishness. Volatility Vix and Vix futures have decreased. SKEW continues to be high above 142. The prognosis is for the uptrend to continue but with some volatility.
ES – Intermediate Cycle – Positive/Rising. Current – Positive/Rising. Market direction – Bullish. Fractal Bias – Bullish.
NQ – Intermediate Cycle – Positive/Rising. Current – Positive/Rising. Market direction – Buy. It is in a Squeeze. Fractal Bias – Neutral
YM – Intermediate Cycle – Positive/Rising. Current – Positive/Falling. Market direction – Neutral. Weekly Squeeze. Fractal Bias – Bullish.
RTY – Intermediate Cycle – Positive/Falling. Current – Positive/Rising. Market direction – Buy. It is in a Squeeze. Fractal Bias – Bearish.
GC – Intermediate Cycle – Negative/Rising. Current – Negative/Falling. Market direction – Sell. Fractal Bias – Bearish.
CL – Intermediate Cycle – Negative/Falling. Current – Negative/Rising. Market direction – Sell. Fractal Bias – Neutral.
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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