Indices
Dow Transportation closed at 11370.21 with a big bearish marubozu candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 189.72. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell. Fractal Bias – Neutral.
Dow Industrial closed at 26562.05 with a bearish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 198.82. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Russell 2000 closed at 1705.3179 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 14.56. Intermediate Cycle is positive and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Neutral. It is in a daily Squeeze.
Nasdaq 100 closed at 7548.7507 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 107.72. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.
S&P 500 closed at 2919.37 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 17.04. 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 $72.27 per barrel with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 2.03. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Buy.
Gold futures (GC) closed at 1203.4 with a doji candle intertwined with its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 10.2. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Agriculture (DBA) ETF closed at 17.03 with a small doji candle intertwined with its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.1. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Sell.
Commodities (DBC) ETF closed at 17.75 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.275. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Bonds
Bond futures (/ZB) closed at 139’31 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.5625. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 86.20 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.17. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Currency
The dollar index ($DXY) closed at 94.255 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.53. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Neutral.
EUR/USD closed at 1.1747 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.009. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
USD/JPY closed at 112.75 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.427. Intermediate Cycle is positive and rising. Short Cycle is positive and rising slope. Market direction: Buy. It is in a Weekly Squeeze. Fractal Bias – Bullish.
6S (Swiss Franc) – closed at 1.0443 with a bearish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0078. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Buy. 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 XLE, XLV, XLI, XLK and XLB.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLI, XLF, XLY and XLK respectively.
Market Internals
Market sentiment is Bullish. Market breadth has flattened. Volume Accumulation/ Distribution is sloping upward showing nett accumulation. Skew is at 138.84. Vix is at 12.20 and Vix futures is at 14.10.
The Week Ahead
Market internals is showing bullishness. Skew is back to normal. Vix is about normal but Vix futures is indicating potential near term volatility. Dow Transportation and Russell 2000 has pulled back. The prognosis is to be cautious when there is a pullback in both even though the market internals are showing strength. The prognosis is for a cautious market.
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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24 September 2018 – Trade war escalates, Indices pullback
Indices
Dow Transportation closed at 11370.21 with a big bearish marubozu candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 189.72. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell. Fractal Bias – Neutral.
Dow Industrial closed at 26562.05 with a bearish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 198.82. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Russell 2000 closed at 1705.3179 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 14.56. Intermediate Cycle is positive and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Neutral. It is in a daily Squeeze.
Nasdaq 100 closed at 7548.7507 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 107.72. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.
S&P 500 closed at 2919.37 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 17.04. 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 $72.27 per barrel with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 2.03. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Buy.
Gold futures (GC) closed at 1203.4 with a doji candle intertwined with its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 10.2. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Agriculture (DBA) ETF closed at 17.03 with a small doji candle intertwined with its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.1. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Sell.
Commodities (DBC) ETF closed at 17.75 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.275. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Bonds
Bond futures (/ZB) closed at 139’31 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.5625. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 86.20 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.17. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Currency
The dollar index ($DXY) closed at 94.255 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.53. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Neutral.
EUR/USD closed at 1.1747 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.009. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
USD/JPY closed at 112.75 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.427. Intermediate Cycle is positive and rising. Short Cycle is positive and rising slope. Market direction: Buy. It is in a Weekly Squeeze. Fractal Bias – Bullish.
6S (Swiss Franc) – closed at 1.0443 with a bearish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0078. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Buy. 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 XLE, XLV, XLI, XLK and XLB.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLI, XLF, XLY and XLK respectively.
Market Internals
Market sentiment is Bullish. Market breadth has flattened. Volume Accumulation/ Distribution is sloping upward showing nett accumulation. Skew is at 138.84. Vix is at 12.20 and Vix futures is at 14.10.
The Week Ahead
Market internals is showing bullishness. Skew is back to normal. Vix is about normal but Vix futures is indicating potential near term volatility. Dow Transportation and Russell 2000 has pulled back. The prognosis is to be cautious when there is a pullback in both even though the market internals are showing strength. The prognosis is for a cautious market.
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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