Indices
Dow Transportation closed at 11309.8 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 94.1. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Neutral. Fractal Bias – Bullish.
Dow Industrial closed at 25986.92 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 169.57. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Russell 2000 closed at 1732.35 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.81. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
Nasdaq 100 closed at 7642.6699 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 71.39. 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 2901.13 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 17.24. 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 $70.05 per barrel with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.94. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Gold futures (GC) closed at 1205.8 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.9. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Neutral.
Agriculture (DBA) ETF closed at 16.85 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.125. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bearish.
Commodities (DBC) ETF closed at 17.36 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.102. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Bonds
Bond futures (/ZB) closed at 144’07 with a bullish candle below its 8 EM, 21 EMA and 50 SMA. Daily trading range was 0.5312. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 86.25 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.13. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Neutral. It is in a weekly Squeeze. Fractal Bias – Bullish.
Currency
The dollar index ($DXY) closed at 94.703 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.431. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
EUR/USD closed at 1.167 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0076. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
USD/JPY closed at 110.95 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.803. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Neutral. It is in a Squeeze. Fractal Bias – Neutral.
6S (Swiss Franc) – closed at 1.0329 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0031. 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, XLV, XLE, XLB 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 has flattened. Skew is at 141.82. Vix is at 13.53 and Vix futures is at 14.60.
The Week Ahead
Market internals continue to show strength as the indices trend upwards. SKEW is back to normal. Vix is above 13 and shows signs that market participants are aware of heightened risk. Vix futures is above 14 which means that the market is forecasting near term volatility. The prognosis is near term volatility but the bullish bias remains.
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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30 August 2018 – Indices finally pull back – Trade War again?
Indices
Dow Transportation closed at 11309.8 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 94.1. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Neutral. Fractal Bias – Bullish.
Dow Industrial closed at 25986.92 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 169.57. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Russell 2000 closed at 1732.35 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.81. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
Nasdaq 100 closed at 7642.6699 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 71.39. 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 2901.13 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 17.24. 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 $70.05 per barrel with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.94. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Gold futures (GC) closed at 1205.8 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.9. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Neutral.
Agriculture (DBA) ETF closed at 16.85 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.125. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bearish.
Commodities (DBC) ETF closed at 17.36 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.102. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Bonds
Bond futures (/ZB) closed at 144’07 with a bullish candle below its 8 EM, 21 EMA and 50 SMA. Daily trading range was 0.5312. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 86.25 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.13. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Neutral. It is in a weekly Squeeze. Fractal Bias – Bullish.
Currency
The dollar index ($DXY) closed at 94.703 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.431. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
EUR/USD closed at 1.167 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0076. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
USD/JPY closed at 110.95 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.803. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Neutral. It is in a Squeeze. Fractal Bias – Neutral.
6S (Swiss Franc) – closed at 1.0329 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0031. 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, XLV, XLE, XLB 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 has flattened. Skew is at 141.82. Vix is at 13.53 and Vix futures is at 14.60.
The Week Ahead
Market internals continue to show strength as the indices trend upwards. SKEW is back to normal. Vix is above 13 and shows signs that market participants are aware of heightened risk. Vix futures is above 14 which means that the market is forecasting near term volatility. The prognosis is near term volatility but the bullish bias remains.
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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