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14 August 2019 – Market crashes

Indices
Dow Transportation closed at 9842.40 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 328.38. Fractal Chaos Band – Closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 35.2.

Dow Industrial closed at 25479.42 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 808.32. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 34.0.

Russell 2000 closed at 1467.5221 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 45.12. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 36.1.

Nasdaq 100 closed at 7490.1304 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 247.57. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 40.8.

S&P 500 (SPX) closed at 2840.60 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 86.68. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 37.4.

Metals and Commodities
WTI Crude oil futures (CL) closed at $54.95 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.88. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Weak DownTrend. Momentum – Strong Upward. RSI – 47.1.

Gold (/GC) closed at 1527.3 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 30.4. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 72.1.

Commodities (DBC) ETF closed at 14.96 with a small hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.33. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 41.2.

Bonds
Bond futures (/ZB) closed at 164’31 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.8125. 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 – 78.6.

High Yield bond ETF (HYG) closed at 85.56 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMa. Daily trading range – 0.83. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 38.

Currency
The dollar index ($DXY) closed at 97.826 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.53. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 56.


EUR/USD closed at 1.1136 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.006. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Strong UpTrend. Momentum – Strong Downward. RSI – 44.

USD/JPY closed at 105.89 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.104. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Weak Downward. RSI – 39.9.

Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLK, /ES, XLY, SPX, SPY, XLV, XLB, XLI, XLE and XLF.

On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLK, /ES, SPY, SPX, XLY, XLB, XLI, XLF, XLV and XLE.  

Market Internals
Market Sentiment – Bearish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 113.48. Vix – 22.10 and Vix Futures – 20.85.   

The Week Ahead 
Market Sentiment remains bearish. Skew is normal. Vix is below 23. Vix Futures is below 21. Market internals remains weak. The indices reversed from yesterday’s bullish trade on news of the bond yield inversion between the 2 year and 10 year Treasury note. The prognosis is for the market to test its recent low and look for support. Selling pressure remains.

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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