Indices
Dow Transportation closed at 10683.82 with a bearish piercing line candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 255.03. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell. Fractal Bias – Bearish.
Dow Industrial closed at 25706.68 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above 200 SMA. Daily trading range was 330.93. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell. Fractal Bias – Bearish.
Russell 2000 closed at 1589.6042 with a hammer candle on its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 25.33. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 7278.6311 with a hammer candle above its 8 EMA and 200 SMA and below its 21 EMA and 50 SMA. Daily trading range was 106.09. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
S&P 500 closed at 2809.21 with a high closing spinning top doji candle on its 8 EMA and above its 200 SMA and below its 21 EMA and 50 SMA. Daily trading range was 35.13. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $70.05 per barrel with a big bearish candle below its 8 EMA and 21 EMA and above its 50 SMA 200 SMA. Daily trading range was 3. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1225.5 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 9.2. Intermediate Cycle is positive and rising. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Agriculture (DBA) ETF closed at 17.75 with a small inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.08. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Commodities (DBC) ETF closed at 17.85 with a bearish candle below its 8 EMA,s 21 EMA and above its 50 SMA. Daily trading range was 0.26. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 137’21 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA and 200 SMA. Daily trading range was 1.1875. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Neutral. It is OverSold.
High Yield bond ETF (HYG) closed at 85.21 with a bearish ‘rolling pin’ candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.24. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 95.091 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.605. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish. It is in a Weekly Squeeze.
EUR/USD closed at 1.15 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0084. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
USD/JPY closed at 112.63 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.656. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0101 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0059. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLV, XLU and XLF.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLK, XLU, XLF and XLY respectively.
Market Internals
Market Sentiment is bullish. Market Breadth continues to slope downwards but shows sign of flattening. Volume Accumulation/Distribution is sloping upwards and is showing accumulation. Vix is at 17.40. Vix futures is at 17.57. Skew is at 130.65.
The Week Ahead
Market Sentiment is slightly positive. Market internals are giving mixed signals as market breadth is showing that there are more loser to gainers but Volume accumulation/distribution is showing accumulation. Volatility Vix is high at above 17 and Vix futures remains high above 17. Skew is normal. The prognosis is for more volatility.
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
17 October 2018 – Indices consolidates, FED rate hikes still on
Indices
Dow Transportation closed at 10683.82 with a bearish piercing line candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 255.03. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell. Fractal Bias – Bearish.
Dow Industrial closed at 25706.68 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above 200 SMA. Daily trading range was 330.93. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell. Fractal Bias – Bearish.
Russell 2000 closed at 1589.6042 with a hammer candle on its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 25.33. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 7278.6311 with a hammer candle above its 8 EMA and 200 SMA and below its 21 EMA and 50 SMA. Daily trading range was 106.09. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
S&P 500 closed at 2809.21 with a high closing spinning top doji candle on its 8 EMA and above its 200 SMA and below its 21 EMA and 50 SMA. Daily trading range was 35.13. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $70.05 per barrel with a big bearish candle below its 8 EMA and 21 EMA and above its 50 SMA 200 SMA. Daily trading range was 3. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1225.5 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 9.2. Intermediate Cycle is positive and rising. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Agriculture (DBA) ETF closed at 17.75 with a small inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.08. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Commodities (DBC) ETF closed at 17.85 with a bearish candle below its 8 EMA,s 21 EMA and above its 50 SMA. Daily trading range was 0.26. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 137’21 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA and 200 SMA. Daily trading range was 1.1875. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Neutral. It is OverSold.
High Yield bond ETF (HYG) closed at 85.21 with a bearish ‘rolling pin’ candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.24. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 95.091 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.605. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish. It is in a Weekly Squeeze.
EUR/USD closed at 1.15 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0084. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
USD/JPY closed at 112.63 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.656. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0101 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0059. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLV, XLU and XLF.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLK, XLU, XLF and XLY respectively.
Market Internals
Market Sentiment is bullish. Market Breadth continues to slope downwards but shows sign of flattening. Volume Accumulation/Distribution is sloping upwards and is showing accumulation. Vix is at 17.40. Vix futures is at 17.57. Skew is at 130.65.
The Week Ahead
Market Sentiment is slightly positive. Market internals are giving mixed signals as market breadth is showing that there are more loser to gainers but Volume accumulation/distribution is showing accumulation. Volatility Vix is high at above 17 and Vix futures remains high above 17. Skew is normal. The prognosis is for more volatility.
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