Indices
Dow Transportation gapped down and closed at 9876.54 with a hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 284.51. 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 24423.26 with a bullish ‘hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 619.44. 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 1443.095 with a ‘hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 26.95. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 6682.74 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 176.1. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
S&P 500 closed at 2637.72 with a ‘hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 64.28. 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 $50.89 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.28. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Buy.
Gold futures (GC) closed at 1243.1 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 9.7. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish. It is in a weekly Squeeze.
Agriculture (DBA) ETF closed at 17.34 with a bearish candle on its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.094. Intermediate Cycle is positive and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bullish. It is in a weekly Squeeze.
Commodities (DBC) ETF gapped down and closed at 15.45 with a bearish candle below its 8 EMA, 21 EMA, 50 and 200 SMA. Daily trading range was 0.28. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Bonds
Bond futures (/ZB) closed at 143’13 with a ‘rolling pin’ candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.7812. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 82.89 with a high closing spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.395. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 97.192 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.8759. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Sell. Fractal Bias – Bearish. It is in a daily and Weekly Squeeze.
EUR/USD closed at 1.1355 with a bearish candle on its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.009. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bullish.
USD/JPY closed at 113.30 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.126. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0095 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.014. Intermediate Cycle is negative and rising. Short Cycle is positive 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 XLU, XLK, XLY, XLV, XLE and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLP, XLV, XLB, XLK, XLY, XLE and XLI respectively.
Market Internals
Market Sentiment is neutral. Market Breadth is slightly sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 117.64. Vix is at 22.64 and Vix Futures is at 21.65.
The Week Ahead
Market internals are bearish. Skew is normal, Vix and Vix futures are are trending upwards and above 22 and 21 respectively. FED is due to raise the interest rates further this month. There is no good news on the horizon. The prognosis is for a bearish bias in the market.
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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10 December 2018 – A wild swing
Indices
Dow Transportation gapped down and closed at 9876.54 with a hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 284.51. 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 24423.26 with a bullish ‘hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 619.44. 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 1443.095 with a ‘hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 26.95. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
Nasdaq 100 closed at 6682.74 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 176.1. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
S&P 500 closed at 2637.72 with a ‘hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 64.28. 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 $50.89 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.28. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Buy.
Gold futures (GC) closed at 1243.1 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 9.7. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish. It is in a weekly Squeeze.
Agriculture (DBA) ETF closed at 17.34 with a bearish candle on its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.094. Intermediate Cycle is positive and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bullish. It is in a weekly Squeeze.
Commodities (DBC) ETF gapped down and closed at 15.45 with a bearish candle below its 8 EMA, 21 EMA, 50 and 200 SMA. Daily trading range was 0.28. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Bonds
Bond futures (/ZB) closed at 143’13 with a ‘rolling pin’ candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.7812. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
High Yield bond ETF (HYG) closed at 82.89 with a high closing spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.395. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias- Bearish.
Currency
The dollar index ($DXY) closed at 97.192 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.8759. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Sell. Fractal Bias – Bearish. It is in a daily and Weekly Squeeze.
EUR/USD closed at 1.1355 with a bearish candle on its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.009. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bullish.
USD/JPY closed at 113.30 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.126. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0095 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.014. Intermediate Cycle is negative and rising. Short Cycle is positive 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 XLU, XLK, XLY, XLV, XLE and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLP, XLV, XLB, XLK, XLY, XLE and XLI respectively.
Market Internals
Market Sentiment is neutral. Market Breadth is slightly sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 117.64. Vix is at 22.64 and Vix Futures is at 21.65.
The Week Ahead
Market internals are bearish. Skew is normal, Vix and Vix futures are are trending upwards and above 22 and 21 respectively. FED is due to raise the interest rates further this month. There is no good news on the horizon. The prognosis is for a bearish bias in the market.
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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