Indices
Dow Transportation closed at 11361.86 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 151.78. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 25758.69 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 73.76. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Russell 2000 closed at 1698.69 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.96. Intermediate Cycle is positive and flat. Short Cycle is positive and rising. Market direction: Buy. It is in a Squeeze. Fractal Bias – Bullish.
Nasdaq 100 closed at 7371.42 with a bearish candle intertwined with its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 52.28. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish.
S&P 500 closed at 2857.05 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 9.14. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $65.48 per barrel with a spinning top candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.77. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1197.3 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 8.1. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Bearish.
Agriculture (DBA) ETF closed at 17.27 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.21. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bearish.
Commodities (DBC) ETF closed at 16.84 with a small bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.097. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 145’09 with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.9687. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 86.08 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.12. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.
Currency
The dollar index ($DXY) closed at 95.729 with a bearish marubozu candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.674. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Bullish.
EUR/USD closed at 1.148 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.009. Intermediate Cycle is negative and falling. Short Cycle is negative and rising. Market direction: buy. Fractal Bias – Bearish.
USD/JPY closed at 110.05 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.66. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a Squeeze. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0109 with a bullish candle above its 8 EMA, 21 EMA and on its 50 SMA. Daily trading range was 0.006. Intermediate Cycle is negative and flat. Short Cycle is negative and flat. Market direction: Buy. It is in a Squeeze. Fractal Bias – Sell.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLV, XLP, XLI, XLK, XLB, XLY and XLF.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLV, XLP, XLY, XLI and XLF respectively.
Market Internals
Market sentiment is Bullish. Market breadth is flat. Volume Accumulation/ Distribution is sloping upwards showing nett accumulation. Skew is at 145.55. Vix is at 12.49 and Vix futures is at 12.83.
The Week Ahead
Skew continues to be elevated for the past few weeks and the market a couple of weeks. Vix and Vix futures continue to drop and is now below 13. Market internals are showing slightly bullish bias signal. The prognosis is for a cautious market even as the indices continue upwards.
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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20 August 2018 – Longest Bull Market is a day away!!
Indices
Dow Transportation closed at 11361.86 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 151.78. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 25758.69 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 73.76. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Russell 2000 closed at 1698.69 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.96. Intermediate Cycle is positive and flat. Short Cycle is positive and rising. Market direction: Buy. It is in a Squeeze. Fractal Bias – Bullish.
Nasdaq 100 closed at 7371.42 with a bearish candle intertwined with its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 52.28. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish.
S&P 500 closed at 2857.05 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 9.14. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $65.48 per barrel with a spinning top candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.77. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1197.3 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 8.1. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Bearish.
Agriculture (DBA) ETF closed at 17.27 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.21. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bearish.
Commodities (DBC) ETF closed at 16.84 with a small bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.097. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 145’09 with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.9687. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 86.08 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.12. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.
Currency
The dollar index ($DXY) closed at 95.729 with a bearish marubozu candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.674. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Bullish.
EUR/USD closed at 1.148 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.009. Intermediate Cycle is negative and falling. Short Cycle is negative and rising. Market direction: buy. Fractal Bias – Bearish.
USD/JPY closed at 110.05 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.66. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a Squeeze. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0109 with a bullish candle above its 8 EMA, 21 EMA and on its 50 SMA. Daily trading range was 0.006. Intermediate Cycle is negative and flat. Short Cycle is negative and flat. Market direction: Buy. It is in a Squeeze. Fractal Bias – Sell.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLV, XLP, XLI, XLK, XLB, XLY and XLF.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLV, XLP, XLY, XLI and XLF respectively.
Market Internals
Market sentiment is Bullish. Market breadth is flat. Volume Accumulation/ Distribution is sloping upwards showing nett accumulation. Skew is at 145.55. Vix is at 12.49 and Vix futures is at 12.83.
The Week Ahead
Skew continues to be elevated for the past few weeks and the market a couple of weeks. Vix and Vix futures continue to drop and is now below 13. Market internals are showing slightly bullish bias signal. The prognosis is for a cautious market even as the indices continue upwards.
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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