11 July 2019 – Market is poised for a breakout upwards
Indices Dow Transportation closed at 10390.04 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range 160.67. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – UpTrend. Momentum – Upward. RSI – 52.2.
Dow Industrial closed at 27088.08 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 228.28. Fractal Chaos Band – Broke above its FCB. Long Cycle Wave – positive and rising. Medium Cycle – positive and falling. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 69.9.
Russell 2000 closed at 1557.9207 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 15.55. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle – negative and falling. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 53.6.
Nasdaq 100 closed at 7896.7758 with a small spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 61.434. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 66.4.
S&P 500(SPX) closed at 2999.91 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 13.53. Fractal Chaos Band – above the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Upward. RSI – 68.5.
Metals and Commodities WTI Crude oil futures (CL) closed at $60.43 per barrel with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.8. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 61.2.
Gold (/GC) closed at 1405.4 with a bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 26.7. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – UpTrend. Momentum – Down Trend. RSI – 59.3.
Commodities (DBC) ETF closed at 16.02 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0915. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 62.7.
Bonds Bond futures (/ZB) closed at 153’05 with a big bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 2.125. Fractal Chaos Band – below its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Downward. RSI – 43.9.
High Yield bond ETF (HYG) closed at 86.79 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.34. Fractal Chaos Band – below its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Down Trend. Momentum – Downward. RSI – 51.3.
Currency The dollar index ($DXY) closed at 97.058 with a doji candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 0.352. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – UpTrend. Momentum – Upward. RSI – 51.4.
EUR/USD closed at 1.1252 with a gravestone doji candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range – 0.004. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – DownTrend. Momentum – downward. RSI – 48.1.
USD/JPY closed at 108.48 with a dragonfly doji candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.678. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – UpTrend. Momentum – Upward. RSI – 52.2.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are …
On a 6-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 is XLP.
Market Internals Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew -122.45. Vix – 12.93 and Vix Futures – 13.65.
The Week Ahead Market Sentiment remains bullish. Market internals are showing bullishness. Skew is normal. Vix is below 13 and Vix Futures is below 14. With the Vix at that level, the market is showing complacency. Dow Transportation and Russell 2000 is not showing any bullishness. The prognosis is for the indices to move upwards.
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.
11 July 2019 – Market is poised for a breakout upwards
Indices
Dow Transportation closed at 10390.04 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range 160.67. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – UpTrend. Momentum – Upward. RSI – 52.2.
Dow Industrial closed at 27088.08 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 228.28. Fractal Chaos Band – Broke above its FCB. Long Cycle Wave – positive and rising. Medium Cycle – positive and falling. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 69.9.
Russell 2000 closed at 1557.9207 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 15.55. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle – negative and falling. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 53.6.
Nasdaq 100 closed at 7896.7758 with a small spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 61.434. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 66.4.
S&P 500 (SPX) closed at 2999.91 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 13.53. Fractal Chaos Band – above the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Upward. RSI – 68.5.
Metals and Commodities
WTI Crude oil futures (CL) closed at $60.43 per barrel with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.8. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 61.2.
Gold (/GC) closed at 1405.4 with a bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 26.7. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – UpTrend. Momentum – Down Trend. RSI – 59.3.
Commodities (DBC) ETF closed at 16.02 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0915. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 62.7.
Bonds
Bond futures (/ZB) closed at 153’05 with a big bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 2.125. Fractal Chaos Band – below its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Downward. RSI – 43.9.
High Yield bond ETF (HYG) closed at 86.79 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.34. Fractal Chaos Band – below its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Down Trend. Momentum – Downward. RSI – 51.3.
Currency
The dollar index ($DXY) closed at 97.058 with a doji candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 0.352. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – UpTrend. Momentum – Upward. RSI – 51.4.
EUR/USD closed at 1.1252 with a gravestone doji candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range – 0.004. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – DownTrend. Momentum – downward. RSI – 48.1.
USD/JPY closed at 108.48 with a dragonfly doji candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.678. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – UpTrend. Momentum – Upward. RSI – 52.2.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are …
On a 6-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 is XLP.
Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew -122.45. Vix – 12.93 and Vix Futures – 13.65.
The Week Ahead
Market Sentiment remains bullish. Market internals are showing bullishness. Skew is normal. Vix is below 13 and Vix Futures is below 14. With the Vix at that level, the market is showing complacency. Dow Transportation and Russell 2000 is not showing any bullishness. The prognosis is for the indices to move upwards.
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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