Indices
Dow Transportation closed at 9905.13 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 419.51. 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 24583.42 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 773.04. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. Fractal Bias – Bearish.
Russell 2000 closed at 1468.6984 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 59.25. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 6789.1543 with a huge bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 341.2. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bearish.
S&P 500 closed at 2656.10 with a huge bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 90.7. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $66.39 per barrel with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.67. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1236.4 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 9.7. Intermediate Cycle is positive and rising. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Agriculture (DBA) ETF closed at 17.62 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 0.2. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Bullish.
Commodities (DBC) ETF closed at 17.26 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.24. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 139’02 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 1.125. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 84.44 with a huge bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.39. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 96.362 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.622. 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 1.1391 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0097. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
USD/JPY closed at 112.24 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.65. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0071 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.005. Intermediate Cycle is negative and falling. Short Cycle is negative and rising. 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, XLP, XLF, XLB and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLP, XLF, XLB and XLI respectively.
Market Internals
Market Sentiment is slightly bearish. Market Breadth continues to slope downwards showing more losers than gainers. Volume Accumulation/Distribution is sloping downwards which means the market is in distribution. Vix is at 25.23. Vix futures is at 20.50. Skew is at 128.91.
The Week Ahead
Market Breadth is showing more losers than gainers. The market is in distribution mode. Vix has gone even higher to be above 25. Vix futures is above 20. Vix is in backwardation which means that the Vix futures reading is higher than the Vix. The market has the expectation of the volatility coming down in the near term. Skew is normal. The prognosis is for the volatility to continue.
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 October 2018 – Bonds and Indices declined
Indices
Dow Transportation closed at 9905.13 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 419.51. 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 24583.42 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 773.04. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. Fractal Bias – Bearish.
Russell 2000 closed at 1468.6984 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 59.25. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 6789.1543 with a huge bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 341.2. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bearish.
S&P 500 closed at 2656.10 with a huge bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 90.7. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $66.39 per barrel with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.67. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1236.4 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 9.7. Intermediate Cycle is positive and rising. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Agriculture (DBA) ETF closed at 17.62 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 0.2. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Bullish.
Commodities (DBC) ETF closed at 17.26 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.24. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 139’02 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 1.125. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 84.44 with a huge bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.39. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 96.362 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.622. 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 1.1391 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0097. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
USD/JPY closed at 112.24 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.65. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0071 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.005. Intermediate Cycle is negative and falling. Short Cycle is negative and rising. 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, XLP, XLF, XLB and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLP, XLF, XLB and XLI respectively.
Market Internals
Market Sentiment is slightly bearish. Market Breadth continues to slope downwards showing more losers than gainers. Volume Accumulation/Distribution is sloping downwards which means the market is in distribution. Vix is at 25.23. Vix futures is at 20.50. Skew is at 128.91.
The Week Ahead
Market Breadth is showing more losers than gainers. The market is in distribution mode. Vix has gone even higher to be above 25. Vix futures is above 20. Vix is in backwardation which means that the Vix futures reading is higher than the Vix. The market has the expectation of the volatility coming down in the near term. Skew is normal. The prognosis is for the volatility to continue.
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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