Indices
Dow Transportation closed at 10660.66 with a spinning top doji candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 115.7. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 26191.22 with a bullish spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 195.92. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Russell 2000 closed at 1578.2091 with a small spinning top doji candle pattern above its 8 EMA and 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 13.02. Intermediate Cycle is negative and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
Nasdaq 100 closed at 7158.5908 with a small spinning top doji candle above its 8 EMA, 21 EMA and 200 SMA and below its 50 SMA. Daily trading range was 77.99. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bullish.
S&P 500 closed at 2806.83 with a doji candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 19.76. 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 $60.77 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.02. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1221.2 with a bearish candle below its 8 EMA, 21 EMA and 200 SMA and above its 50 SMA. Daily trading range was 7.7. Intermediate Cycle is positive and falling. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a daily and weekly Squeeze.
Agriculture (DBA) ETF closed at 17.50 with a bearish candle below its 8 EMA, 21 EMA and 200 SMA above its 50 SMA. Daily trading range was 5. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a Squeeze.
Commodities (DBC) ETF closed at 16.58 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.17. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 137’02 with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.6562. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 84.84 with a low closing doji candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.26. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias- Bullish.
Currency
The dollar index ($DXY) closed at 96.634 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.67. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a Weekly Squeeze.
EUR/USD closed at 1.1362 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0094. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Buy. Fractal Bias – Bullish.
USD/JPY closed at 114.05 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.614. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
6S (Swiss Franc) – closed at 0.9971 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0064. 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 XLB, XLY, XLF, XLI, XLP, XLK and XLV.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLY, XLF, XLI, XLP, XLK and XLV respectively.
Market Internals
Market Sentiment is bullish. Market Breadth is rising with more gainers then losers. Volume Accumulation/Distribution is sloping upwards which means the market is in accumulation mode. Vix is at 16.36. Vix futures is at 17.23. Skew is at 121.85.
The Week Ahead
Market internals continue to show strength. Market Sentiment is slightly bullish. Skew is normal. Vix has remained about steady. The prognosis is that the market has a positive bias and volatility remains.
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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8 November 2018 – A pause after the mid-term election
Indices
Dow Transportation closed at 10660.66 with a spinning top doji candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 115.7. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 26191.22 with a bullish spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 195.92. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Russell 2000 closed at 1578.2091 with a small spinning top doji candle pattern above its 8 EMA and 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 13.02. Intermediate Cycle is negative and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.
Nasdaq 100 closed at 7158.5908 with a small spinning top doji candle above its 8 EMA, 21 EMA and 200 SMA and below its 50 SMA. Daily trading range was 77.99. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bullish.
S&P 500 closed at 2806.83 with a doji candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 19.76. 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 $60.77 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.02. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1221.2 with a bearish candle below its 8 EMA, 21 EMA and 200 SMA and above its 50 SMA. Daily trading range was 7.7. Intermediate Cycle is positive and falling. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a daily and weekly Squeeze.
Agriculture (DBA) ETF closed at 17.50 with a bearish candle below its 8 EMA, 21 EMA and 200 SMA above its 50 SMA. Daily trading range was 5. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a Squeeze.
Commodities (DBC) ETF closed at 16.58 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.17. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 137’02 with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.6562. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 84.84 with a low closing doji candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.26. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias- Bullish.
Currency
The dollar index ($DXY) closed at 96.634 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.67. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a Weekly Squeeze.
EUR/USD closed at 1.1362 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0094. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Buy. Fractal Bias – Bullish.
USD/JPY closed at 114.05 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.614. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
6S (Swiss Franc) – closed at 0.9971 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0064. 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 XLB, XLY, XLF, XLI, XLP, XLK and XLV.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLY, XLF, XLI, XLP, XLK and XLV respectively.
Market Internals
Market Sentiment is bullish. Market Breadth is rising with more gainers then losers. Volume Accumulation/Distribution is sloping upwards which means the market is in accumulation mode. Vix is at 16.36. Vix futures is at 17.23. Skew is at 121.85.
The Week Ahead
Market internals continue to show strength. Market Sentiment is slightly bullish. Skew is normal. Vix has remained about steady. The prognosis is that the market has a positive bias and volatility remains.
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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