1 July 2019 – After G20 meeting, market gapped up and then sold off!
Indices Dow Transportation closed at 10505.93 with a spinning top doji candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range – 199.18. Fractal Chaos Band – Above FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong upward. RSI – 58.5.
Dow Industrial gapped up and closed at 26717.43 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 290.68. Fractal Chaos Band – within FCB. Long Cycle – positive and rising. Medium Cycle – positive and falling. Short Cycle – negative and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 66.
Russell 2000 closed at 1569.6635 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 23.996. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.
Nasdaq 100 gapped up and closed at 7768.1382 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 149.73. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Neutral. RSI – 63.3.
S&P 500(SPX) gapped up and closed at 2964.33 with a bearish spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200SMA. Daily trading range – 36.17. Fractal Chaos Band – above the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – UpTrend. Momentum – Neutral. RSI – 59.1.
Metals and Commodities WTI Crude oil futures (CL) closed at $59.19 per barrel with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.08. Fractal Chaos Band – within the FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 58.
Gold (/GC) closed at 1387 with a bullish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 27.8. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – UpTrend. Momentum – Neutral. RSI – 63.6.
Commodities (DBC) ETF closed at 15.72 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.27. Fractal Chaos Band – within FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – UpTrend. Momentum – Upward. RSI – 54.9.
Bonds Bond futures (/ZB) closed at 155’05 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.969. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Neutral. RSI – 61.1.
High Yield bond ETF (HYG) closed at 86.82 with a bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.46. Fractal Chaos Band – broke below its lowerband FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – DownTrend. Momentum – Neutral. RSI – 54.1.
Currency The dollar index ($DXY) closed at 96.808 with a big bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 0.737. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – DownTrend. Momentum – Upward. RSI – 47.6.
EUR/USD closed at 1.1284 with a big bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range – 0.009. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – DownTrend. Momentum – Upward. RSI – 51.7.
USD/JPY closed at 108.42 with a small bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.691. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 47.7.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLB and XLY.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLB, XLV and XLY respectively.
Market Internals Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downwards and showing distribution. Skew -119.86. Vix – 14.10 and Vix Futures – 14.95.
The Week Ahead Market Sentiment remains bullish. After the G20 meeting in Japan, the market is rather bullish. Skew is normal. Vix is below 15 and Vix Futures is below 15. Market Internals are showing strength. The prognosis is for a continuing uptrend.
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.
1 July 2019 – After G20 meeting, market gapped up and then sold off!
Indices
Dow Transportation closed at 10505.93 with a spinning top doji candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range – 199.18. Fractal Chaos Band – Above FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong upward. RSI – 58.5.
Dow Industrial gapped up and closed at 26717.43 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 290.68. Fractal Chaos Band – within FCB. Long Cycle – positive and rising. Medium Cycle – positive and falling. Short Cycle – negative and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 66.
Russell 2000 closed at 1569.6635 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 23.996. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.
Nasdaq 100 gapped up and closed at 7768.1382 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 149.73. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Neutral. RSI – 63.3.
S&P 500 (SPX) gapped up and closed at 2964.33 with a bearish spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200SMA. Daily trading range – 36.17. Fractal Chaos Band – above the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – UpTrend. Momentum – Neutral. RSI – 59.1.
Metals and Commodities
WTI Crude oil futures (CL) closed at $59.19 per barrel with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.08. Fractal Chaos Band – within the FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 58.
Gold (/GC) closed at 1387 with a bullish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 27.8. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – UpTrend. Momentum – Neutral. RSI – 63.6.
Commodities (DBC) ETF closed at 15.72 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.27. Fractal Chaos Band – within FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – UpTrend. Momentum – Upward. RSI – 54.9.
Bonds
Bond futures (/ZB) closed at 155’05 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.969. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Neutral. RSI – 61.1.
High Yield bond ETF (HYG) closed at 86.82 with a bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.46. Fractal Chaos Band – broke below its lowerband FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – DownTrend. Momentum – Neutral. RSI – 54.1.
Currency
The dollar index ($DXY) closed at 96.808 with a big bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 0.737. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – DownTrend. Momentum – Upward. RSI – 47.6.
EUR/USD closed at 1.1284 with a big bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range – 0.009. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – DownTrend. Momentum – Upward. RSI – 51.7.
USD/JPY closed at 108.42 with a small bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.691. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 47.7.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLB and XLY.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLB, XLV and XLY respectively.
Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downwards and showing distribution. Skew -119.86. Vix – 14.10 and Vix Futures – 14.95.
The Week Ahead
Market Sentiment remains bullish. After the G20 meeting in Japan, the market is rather bullish. Skew is normal. Vix is below 15 and Vix Futures is below 15. Market Internals are showing strength. The prognosis is for a continuing uptrend.
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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