Indices
Dow Transportation closed at 11367.29 with a low closing spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 85.13. 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 25995.87 with a bearish marubozu candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 35.39. 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 1714.4678 with a bearish marubozu candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 1.24. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Neutral. Fractal Bias – Bullish.
Nasdaq 100 closed at 7453.1672 with a bearish candle above its 8 EMA and on its 21 EMA and below its 50 SMA. Daily trading range was 7.57. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.
S&P 500 closed at 2878.05 with a bearish marubozu candle on its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 3.28. Intermediate Cycle is negative 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 $68.64 per barrel with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 2.02. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Neutral.
Gold futures (GC) closed at 1205.3 with a low closing spinning top doji candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 12.2. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Neutral.
Agriculture (DBA) ETF closed at 17.01 with a tiny candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.08. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Bullish. Fractal Bias – Bearish.
Commodities (DBC) ETF closed at 17.11 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.29. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Neutral.
Bonds
Bond futures (/ZB) closed at 143’20 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.816. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Neutral.
High Yield bond ETF (HYG) closed at 85.79 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.11. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze. Fractal Bias – Neutral.
Currency
The dollar index ($DXY) closed at 95.027 with a small spinning top doji candle on its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.275. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bearish.
EUR/USD closed at 1.1622 with a small doji candle on its 8 EMA and 50 SMA and above its 21 EMA. Daily trading range was 0.0053. Intermediate Cycle is positive and rising. Short Cycle is positive and falling. Market direction: Sell. Fractal Bias – Bullish.
USD/JPY closed at 110.73 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.007. Intermediate Cycle is positive and flat. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily and Weekly Squeeze. Fractal Bias – Bullish.
6S (Swiss Franc) – closed at 1.0365 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0068. 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 XLI, XLB, XLY, XLU, XLV, XLP and XLF.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLV, XLI, XLP, XLF, XLK and XLY respectively.
Market Internals
Market sentiment remains Bullish. Market breadth is sloping downward showing more losers than gainers. Volume Accumulation/ Distribution is sloping downward showing distribution. Skew is at 140.56. Vix is at 14.65 and Vix futures is at 15.15.
The Week Ahead
Market internals are showing some weakening. Market sentiment remains slightly bullish. Skew is back to normal. Vix and Vix futures have risen which means the market is pricing in near term volatility. The prognosis is for more volatility for this month.
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.
Related
6 September 2018 – A slow pullback
Indices
Dow Transportation closed at 11367.29 with a low closing spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 85.13. 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 25995.87 with a bearish marubozu candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 35.39. 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 1714.4678 with a bearish marubozu candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 1.24. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Neutral. Fractal Bias – Bullish.
Nasdaq 100 closed at 7453.1672 with a bearish candle above its 8 EMA and on its 21 EMA and below its 50 SMA. Daily trading range was 7.57. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.
S&P 500 closed at 2878.05 with a bearish marubozu candle on its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 3.28. Intermediate Cycle is negative 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 $68.64 per barrel with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 2.02. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Neutral.
Gold futures (GC) closed at 1205.3 with a low closing spinning top doji candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 12.2. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Neutral.
Agriculture (DBA) ETF closed at 17.01 with a tiny candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.08. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Bullish. Fractal Bias – Bearish.
Commodities (DBC) ETF closed at 17.11 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.29. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Neutral.
Bonds
Bond futures (/ZB) closed at 143’20 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.816. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Neutral.
High Yield bond ETF (HYG) closed at 85.79 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.11. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze. Fractal Bias – Neutral.
Currency
The dollar index ($DXY) closed at 95.027 with a small spinning top doji candle on its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.275. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bearish.
EUR/USD closed at 1.1622 with a small doji candle on its 8 EMA and 50 SMA and above its 21 EMA. Daily trading range was 0.0053. Intermediate Cycle is positive and rising. Short Cycle is positive and falling. Market direction: Sell. Fractal Bias – Bullish.
USD/JPY closed at 110.73 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.007. Intermediate Cycle is positive and flat. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily and Weekly Squeeze. Fractal Bias – Bullish.
6S (Swiss Franc) – closed at 1.0365 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0068. 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 XLI, XLB, XLY, XLU, XLV, XLP and XLF.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLV, XLI, XLP, XLF, XLK and XLY respectively.
Market Internals
Market sentiment remains Bullish. Market breadth is sloping downward showing more losers than gainers. Volume Accumulation/ Distribution is sloping downward showing distribution. Skew is at 140.56. Vix is at 14.65 and Vix futures is at 15.15.
The Week Ahead
Market internals are showing some weakening. Market sentiment remains slightly bullish. Skew is back to normal. Vix and Vix futures have risen which means the market is pricing in near term volatility. The prognosis is for more volatility for this month.
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.
Share this:
Related