Indices
Dow Transportation closed at 10534.46 with a small spinning top doji candle above its 21 EMA and below its 8 EMA, 50 SMA and 200 SMA. Daily trading range was 118.84. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and flat. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 25017.44 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 512.24. 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 1496.541 with a bearish marubozu candle pattern below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 34.58. Intermediate Cycle is negative and rising. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 6642.9165 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 243.6471. 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 2690.73 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 55.18. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $57.078 per barrel with a ‘hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.47. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1224.8 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 8. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish. It is in a weekly Squeeze.
Agriculture (DBA) ETF closed at 17.24 with an ‘inverted hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.185. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a weekly Squeeze.
Commodities (DBC) ETF closed at 16.12 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.206. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 139’22 with a high closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.9375. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
High Yield bond ETF (HYG) gapped down and closed at 83.01 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.375. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 96.169 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.4519. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Neutral. It is in a daily and Weekly Squeeze.
EUR/USD closed at 1.1452 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.007. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bullish.
USD/JPY closed at 113.54 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.457. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0084 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.0082. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Buy. Fractal Bias – Bullish.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLF, XLI, XLV, XLP, XLU and XLE.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLP, XLU, XLF, XLI, XLV and XLE respectively.
Market Internals
Market Sentiment is slightly bullish. Market Breadth is slightly sloping downards showing slightly more losers to gainers. Volume Accumulation/Distribution is sloping slightly upwards which means the market is in slight accumulation mode. Vix is at 20.10. Vix futures is at 20.05. Skew is at 115.79.
The Week Ahead
Market internals are giving mixed signals. Vix and Vix futures are now above 20. Skew is normal. The market is now driven by trade disputes. The prognosis is for continuing volatility in the indices.
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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19 November 2018 – Trade dispute brings down the market
Indices
Dow Transportation closed at 10534.46 with a small spinning top doji candle above its 21 EMA and below its 8 EMA, 50 SMA and 200 SMA. Daily trading range was 118.84. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and flat. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 25017.44 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 512.24. 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 1496.541 with a bearish marubozu candle pattern below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 34.58. Intermediate Cycle is negative and rising. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 6642.9165 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 243.6471. 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 2690.73 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 55.18. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $57.078 per barrel with a ‘hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.47. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
Gold futures (GC) closed at 1224.8 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 8. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish. It is in a weekly Squeeze.
Agriculture (DBA) ETF closed at 17.24 with an ‘inverted hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.185. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish. It is in a weekly Squeeze.
Commodities (DBC) ETF closed at 16.12 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.206. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bearish.
Bonds
Bond futures (/ZB) closed at 139’22 with a high closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.9375. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
High Yield bond ETF (HYG) gapped down and closed at 83.01 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.375. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 96.169 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.4519. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Neutral. It is in a daily and Weekly Squeeze.
EUR/USD closed at 1.1452 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.007. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bullish.
USD/JPY closed at 113.54 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.457. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0084 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.0082. Intermediate Cycle is negative and rising. Short Cycle is negative and rising. Market direction: Buy. Fractal Bias – Bullish.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLF, XLI, XLV, XLP, XLU and XLE.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLP, XLU, XLF, XLI, XLV and XLE respectively.
Market Internals
Market Sentiment is slightly bullish. Market Breadth is slightly sloping downards showing slightly more losers to gainers. Volume Accumulation/Distribution is sloping slightly upwards which means the market is in slight accumulation mode. Vix is at 20.10. Vix futures is at 20.05. Skew is at 115.79.
The Week Ahead
Market internals are giving mixed signals. Vix and Vix futures are now above 20. Skew is normal. The market is now driven by trade disputes. The prognosis is for continuing volatility in the indices.
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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