Indices
Dow Transportation closed at 10404.24 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 310.39. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. Fractal Bias – Bearish.
Dow Industrial closed at 25379.45 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above 200 SMA. Daily trading range was 470.67. 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 1560.7525 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 34.03. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 7116.0883 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA and above its 200 SMA. Daily trading range was 196.745. 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 2768.78 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA and on its 200 SMA. Daily trading range was 54.03. 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 $68.71 per barrel with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA and above its 200 SMA. Daily trading range was 1.52. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1228.9 with a ‘rolling pin’ candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 11.9. Intermediate Cycle is positive and rising. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Agriculture (DBA) ETF closed at 17.55 with a bearish marubozu candle on its 8 EMA and above its 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 0.2. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Bullish.
Commodities (DBC) ETF closed at 17.65 with a doji candle below its 8 EMA and 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.23. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 138’01 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.9375. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Neutral. It is OverSold.
High Yield bond ETF (HYG) closed at 84.85 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.36. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 95.985 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.51. 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 1.1452 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0077. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
USD/JPY closed at 112.17 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.78. 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 1.0094 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0054. 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 XLU, XLV, XLP and XLK.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLU, XLP and XLK respectively.
Market Internals
Market Sentiment is bearish. Market Breadth continues to slope downwards showing more losers than gainers. Volume Accumulation/Distribution is sloping upwards and is showing accumulation. Vix is at 20.06. Vix futures is at 18.32. Skew is at 125.96.
The Week Ahead
Market Sentiment is bearish. Vix has shot up above 20 and Vix futures is above 18. Vix is in backwardation which means that the market is expecting short term volatility. Market internals is showing mixed signal when the market breadth is showing continuing losers to gainers but the accumulaiton volume is increasing.
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
18 October 2018 – Indices continue its descent, China is in Bear market
Indices
Dow Transportation closed at 10404.24 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 310.39. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. Fractal Bias – Bearish.
Dow Industrial closed at 25379.45 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above 200 SMA. Daily trading range was 470.67. 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 1560.7525 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 34.03. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 7116.0883 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA and above its 200 SMA. Daily trading range was 196.745. 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 2768.78 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA and on its 200 SMA. Daily trading range was 54.03. 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 $68.71 per barrel with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA and above its 200 SMA. Daily trading range was 1.52. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1228.9 with a ‘rolling pin’ candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 11.9. Intermediate Cycle is positive and rising. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Agriculture (DBA) ETF closed at 17.55 with a bearish marubozu candle on its 8 EMA and above its 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 0.2. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Bullish.
Commodities (DBC) ETF closed at 17.65 with a doji candle below its 8 EMA and 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.23. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 138’01 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.9375. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Neutral. It is OverSold.
High Yield bond ETF (HYG) closed at 84.85 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.36. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 95.985 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.51. 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 1.1452 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0077. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
USD/JPY closed at 112.17 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.78. 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 1.0094 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0054. 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 XLU, XLV, XLP and XLK.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLU, XLP and XLK respectively.
Market Internals
Market Sentiment is bearish. Market Breadth continues to slope downwards showing more losers than gainers. Volume Accumulation/Distribution is sloping upwards and is showing accumulation. Vix is at 20.06. Vix futures is at 18.32. Skew is at 125.96.
The Week Ahead
Market Sentiment is bearish. Vix has shot up above 20 and Vix futures is above 18. Vix is in backwardation which means that the market is expecting short term volatility. Market internals is showing mixed signal when the market breadth is showing continuing losers to gainers but the accumulaiton volume is increasing.
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