Indices
Dow Transportation closed at 10433.45 with a low closing spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 184.49. Intermediate Cycle is negative and rising slope. Short Term Cycle is negative and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 25286.49 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 317.25. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and falling slope. Market direction – Sell. Fractal Bias – Bullish.
Russell 2000 closed at 1514.8023 with a low closing spinning top doji candle pattern below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 23.41. Intermediate Cycle is negative and rising. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bullish.
Nasdaq 100 closed at 6830.9057 with a low closing spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 139.76. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
S&P 500 closed at 2722.18 with a low closing spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 39.62. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $55.28 per barrel with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 4.6. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1202.8 with a small spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 8.9. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a daily and weekly Squeeze.
Agriculture (DBA) ETF closed at 17.23 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.1. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a weekly Squeeze.
Commodities (DBC) ETF closed at 15.91 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.51. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 138’20 with a high closing spinning top doji bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.844. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 83.70 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.385. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 96.958 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.736. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Bullish. It is in a Weekly Squeeze.
EUR/USD closed at 1.1287 with a bullish 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 113.79 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.568. 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 0.9957 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0058. 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, XLP, XLF, XLY, XLI and XLV.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLP, XLB, XLU, XLF, XLY, XLI and XLV respectively.
Market Internals
Market Sentiment is bullish. Market Breadth is rising with more gainers then losers. Volume Accumulation/Distribution is sloping downwards which means the market is in distribution mode. Vix is at 20.02. Vix futures is at 19.45. Skew is at 122.06.
The Week Ahead
Market internals is giving mixed signals. Skew is normal. Vix is above 20 and Vix futures is below 20. It is in backwardation with the expectation that the volatility is short-term. We are potentially seeing an inverted head and shoulder pattern in the indices and if the indices continue falling, that would be rather bearish. 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.
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13 November 2018 – Indecision and a potential reverse H&S pattern
Indices
Dow Transportation closed at 10433.45 with a low closing spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 184.49. Intermediate Cycle is negative and rising slope. Short Term Cycle is negative and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 25286.49 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 317.25. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and falling slope. Market direction – Sell. Fractal Bias – Bullish.
Russell 2000 closed at 1514.8023 with a low closing spinning top doji candle pattern below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 23.41. Intermediate Cycle is negative and rising. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bullish.
Nasdaq 100 closed at 6830.9057 with a low closing spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 139.76. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
S&P 500 closed at 2722.18 with a low closing spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 39.62. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $55.28 per barrel with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 4.6. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1202.8 with a small spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 8.9. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a daily and weekly Squeeze.
Agriculture (DBA) ETF closed at 17.23 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.1. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a weekly Squeeze.
Commodities (DBC) ETF closed at 15.91 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.51. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 138’20 with a high closing spinning top doji bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.844. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 83.70 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.385. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 96.958 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.736. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Bullish. It is in a Weekly Squeeze.
EUR/USD closed at 1.1287 with a bullish 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 113.79 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.568. 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 0.9957 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0058. 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, XLP, XLF, XLY, XLI and XLV.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLP, XLB, XLU, XLF, XLY, XLI and XLV respectively.
Market Internals
Market Sentiment is bullish. Market Breadth is rising with more gainers then losers. Volume Accumulation/Distribution is sloping downwards which means the market is in distribution mode. Vix is at 20.02. Vix futures is at 19.45. Skew is at 122.06.
The Week Ahead
Market internals is giving mixed signals. Skew is normal. Vix is above 20 and Vix futures is below 20. It is in backwardation with the expectation that the volatility is short-term. We are potentially seeing an inverted head and shoulder pattern in the indices and if the indices continue falling, that would be rather bearish. 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.
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