Indices (Weekly chart)
Dow Transportation closed at 10517.21 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 427.8. Intermediate Cycle is negative with falling slope. Short term cycle is negative with falling slope. Market direction:- Sell. Fractal Bias – Bearish.
Dow Industrial closed at 25989.30 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1016.35. Intermediate Cycle is positive and falling slope. Short term cycle is positive and rising slope. Market direction:- Sell. Fractal Bias – Bearish.
Russell 2000 closed at 1549.4926 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 51.41. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 7039.1492 with a spinning top doji candle below its 8 EMA, 21 EMA and on its 50 SMA. Weekly trading range was 346.16. Intermediate Cycle is positive and falling. Short term cycle is negative and falling. Market direction:- Sell. Fractal Bias – Bearish.
S&P 500 closed at 2781.01 with a bullish candle on its 8 EMA, below its 21 EMA and above its 50 SMA. Weekly trading range was 97.21. Intermediate Cycle is positive and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $59.87 per barrel with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 4.88. Intermediate Cycle is positive and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1210.3 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 31.2. Intermediate Cycle is negative and rising. Short term cycle is negative and rising. Market direction:- Buy. Fractal Bias – Bullish.
Agriculture (DBA) ETF closed at 17.31 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA and 200 SMA. Weekly trading range was 0.499. Intermediate Cycle is negative and rising. Short term cycle is negative and rising. Market direction:- Buy. Fractal Bias – Bullish.
Commodities (DBC) ETF closed at 16.40 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Weekly trading range was 0.63. Intermediate Cycle is positive and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
Bonds (Weekly charts)
Bond futures (/ZB) closed at 138’00 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 1.344. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 84.36 with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 0.85. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
Currencies (Weekly charts)
The dollar index ($DXY) closed at 96.90 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 1.333. Intermediate Cycle is positive and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy. Fractal Bias – Bullish. It is in a Squeeze.
EUR/USD closed at 1.1335 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA and above 200 SMA. Weekly trading range was 0.0183. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
USD/JPY closed at 113.77 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 1.134. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy. Fractal Bias – Bullish.
6S (Swiss Franc) closed at 0.9975 with a bearish ‘spinning top doji’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 0.0136. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish. It is in monthly Squeeze.
Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLP, XLY, XLF, XLI and XLV respectively.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLP, XLY, XLF, XLF, XLI, XLV and XLU respectively.
Market Internals
Market Sentiment has turned bearish. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 120.06. Vix is at 17.36 and Vix futures 17.55.
The Week Ahead
Market Internals are showing some strength. Market Sentiment has turned bearish. Vix and Vix futures remained above 17. Skew is normal. The prognosis is for volatility and range trading to remain.
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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9 November 2018 – Mid-Term election over, market still is range trading
Indices (Weekly chart)
Dow Transportation closed at 10517.21 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 427.8. Intermediate Cycle is negative with falling slope. Short term cycle is negative with falling slope. Market direction:- Sell. Fractal Bias – Bearish.
Dow Industrial closed at 25989.30 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1016.35. Intermediate Cycle is positive and falling slope. Short term cycle is positive and rising slope. Market direction:- Sell. Fractal Bias – Bearish.
Russell 2000 closed at 1549.4926 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 51.41. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 7039.1492 with a spinning top doji candle below its 8 EMA, 21 EMA and on its 50 SMA. Weekly trading range was 346.16. Intermediate Cycle is positive and falling. Short term cycle is negative and falling. Market direction:- Sell. Fractal Bias – Bearish.
S&P 500 closed at 2781.01 with a bullish candle on its 8 EMA, below its 21 EMA and above its 50 SMA. Weekly trading range was 97.21. Intermediate Cycle is positive and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $59.87 per barrel with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 4.88. Intermediate Cycle is positive and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1210.3 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 31.2. Intermediate Cycle is negative and rising. Short term cycle is negative and rising. Market direction:- Buy. Fractal Bias – Bullish.
Agriculture (DBA) ETF closed at 17.31 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA and 200 SMA. Weekly trading range was 0.499. Intermediate Cycle is negative and rising. Short term cycle is negative and rising. Market direction:- Buy. Fractal Bias – Bullish.
Commodities (DBC) ETF closed at 16.40 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Weekly trading range was 0.63. Intermediate Cycle is positive and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
Bonds (Weekly charts)
Bond futures (/ZB) closed at 138’00 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 1.344. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 84.36 with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 0.85. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
Currencies (Weekly charts)
The dollar index ($DXY) closed at 96.90 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 1.333. Intermediate Cycle is positive and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy. Fractal Bias – Bullish. It is in a Squeeze.
EUR/USD closed at 1.1335 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA and above 200 SMA. Weekly trading range was 0.0183. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.
USD/JPY closed at 113.77 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 1.134. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy. Fractal Bias – Bullish.
6S (Swiss Franc) closed at 0.9975 with a bearish ‘spinning top doji’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 0.0136. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish. It is in monthly Squeeze.
Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLP, XLY, XLF, XLI and XLV respectively.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLP, XLY, XLF, XLF, XLI, XLV and XLU respectively.
Market Internals
Market Sentiment has turned bearish. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 120.06. Vix is at 17.36 and Vix futures 17.55.
The Week Ahead
Market Internals are showing some strength. Market Sentiment has turned bearish. Vix and Vix futures remained above 17. Skew is normal. The prognosis is for volatility and range trading to remain.
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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