Indices
Dow Transportation closed at 11395.94 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 74.39. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and falling slope. Market direction – Neutral. Fractal Bias – Bullish.
Dow Industrial closed at 26124.57 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 132.64. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Russell 2000 closed at 1734.75 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 12.29. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
Nasdaq 100 closed at 7660.1797 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 78.43. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
S&P 500 closed at 2914.04 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 18.1. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $69.7 per barrel with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.39. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Gold futures (GC) closed at 1212.8 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 7.1. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.
Agriculture (DBA) ETF closed at 16.99 with a small spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.16. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bearish.
Commodities (DBC) ETF closed at 17.39 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.1701. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Bonds
Bond futures (/ZB) closed at 143’25 with a doji candle below its 8 EM, 21 EMA and 50 SMA. Daily trading range was 0.5312. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 86.32 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.11. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.
Currency
The dollar index ($DXY) closed at 94.529 with a bearish inverted hammer candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.405. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
EUR/USD closed at 1.1706 with a hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0058. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
USD/JPY closed at 111.66 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.708. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a Squeeze. Fractal Bias – Bullish.
6S (Swiss Franc) – closed at 1.0321 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0077. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY, XLB, XLE, XLV and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLU, XLK, XLY, XLI, XLP and XLF respectively.
Market Internals
Market sentiment is Bullish. Market breadth is rising showing more gainers to losers. Volume Accumulation/ Distribution is rising and shows nett accumulation. Skew is at 140.76. Vix is at 12.25 and Vix futures is at 14.05.
The Week Ahead
Market internals continue to show strength as the indices trend upwards. SKEW is back to normal. Vix is above 12 and is reasonably low and Vix futures is above 14 which means that the market is forecasting near term volatility. The prognosis is for a continued bullish bias in the indices.
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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29 August 2018 – No bears in sight?
Indices
Dow Transportation closed at 11395.94 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 74.39. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and falling slope. Market direction – Neutral. Fractal Bias – Bullish.
Dow Industrial closed at 26124.57 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 132.64. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Russell 2000 closed at 1734.75 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 12.29. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
Nasdaq 100 closed at 7660.1797 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 78.43. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
S&P 500 closed at 2914.04 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 18.1. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $69.7 per barrel with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.39. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Gold futures (GC) closed at 1212.8 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 7.1. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.
Agriculture (DBA) ETF closed at 16.99 with a small spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.16. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bearish.
Commodities (DBC) ETF closed at 17.39 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.1701. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Bonds
Bond futures (/ZB) closed at 143’25 with a doji candle below its 8 EM, 21 EMA and 50 SMA. Daily trading range was 0.5312. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 86.32 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.11. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.
Currency
The dollar index ($DXY) closed at 94.529 with a bearish inverted hammer candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.405. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
EUR/USD closed at 1.1706 with a hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0058. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
USD/JPY closed at 111.66 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.708. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a Squeeze. Fractal Bias – Bullish.
6S (Swiss Franc) – closed at 1.0321 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0077. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY, XLB, XLE, XLV and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLU, XLK, XLY, XLI, XLP and XLF respectively.
Market Internals
Market sentiment is Bullish. Market breadth is rising showing more gainers to losers. Volume Accumulation/ Distribution is rising and shows nett accumulation. Skew is at 140.76. Vix is at 12.25 and Vix futures is at 14.05.
The Week Ahead
Market internals continue to show strength as the indices trend upwards. SKEW is back to normal. Vix is above 12 and is reasonably low and Vix futures is above 14 which means that the market is forecasting near term volatility. The prognosis is for a continued bullish bias in the indices.
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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