Indices Dow Transportation gapped down and closed at 9991.52 with a bearish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range is 217.21. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 46.4.
Dow Industrial gapped down and closed at 26118.02 with a hammer candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 425.06. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 48.3.
Russell 2000 closed at 1472.2828 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 27.3698. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle – positive and rising. Market direction – Strong DownTrend. Momentum – Strong Upward. RSI – 43.5.
Nasdaq 100 gapped down and closed at 7609.5132 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 106.1812. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 47.5.
S&P 500(SPX) gapped down and closed at 2906.27 with a doji candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 34.61. 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 – Weak UpTrend. Momentum – Strong Upward. RSI – 49.
Metals and Commodities WTI Crude oil futures (CL) closed at $53.93 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 2.4. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 44.8.
Gold (/GC) closed at 1556.3 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 30.9. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 64.7.
Commodities (DBC) ETF gapped down and closed at 14.75 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.19. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 39.7.
Bonds Bond futures (/ZB) closed at 165’28 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.1875. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 64.7.
High Yield bond ETF (HYG) gapped down and closed at 86.54 with a bearish candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range – 0.77. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Weak Upward. RSI – 48.4.
Currency The dollar index ($DXY) closed at 98.962 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.563. 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 – 62.6.
EUR/USD closed at 1.0971 with a high closing doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0052. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 30.9.
USD/JPY closed at 105.90 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.642. 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 – Strong DownTrend. Momentum – Strong Upward. RSI – 44.5.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLY, XLK, SPY, SPX, XLI, XLB, XLV, XLF and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLK, XLY, SPY, SPX, XLI, XLB, XLF, XLV and XLE.
Market Internals Market Sentiment – Slightly Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 114.68. Vix – 19.66 and Vix Futures – 19.25.
The Week Ahead Market Sentiment is slightly bullish. Skew is normal. Vix is below 20. Vix Futures is below 20. Market volume is showing accumulation. Market Breadth has turned upwards and showing that there are more gainers than losers. High Yield junk bonds gapped down and is indicating there is less market appetite for risk. The prognosis is for a volatile market but with the current trade war unresolved, the market continues to come under selling pressure.
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.
3 September 2019 – Tariffs kick in
Indices
Dow Transportation gapped down and closed at 9991.52 with a bearish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range is 217.21. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 46.4.
Dow Industrial gapped down and closed at 26118.02 with a hammer candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 425.06. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 48.3.
Russell 2000 closed at 1472.2828 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 27.3698. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle – positive and rising. Market direction – Strong DownTrend. Momentum – Strong Upward. RSI – 43.5.
Nasdaq 100 gapped down and closed at 7609.5132 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 106.1812. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 47.5.
S&P 500 (SPX) gapped down and closed at 2906.27 with a doji candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 34.61. 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 – Weak UpTrend. Momentum – Strong Upward. RSI – 49.
Metals and Commodities
WTI Crude oil futures (CL) closed at $53.93 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 2.4. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 44.8.
Gold (/GC) closed at 1556.3 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 30.9. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 64.7.
Commodities (DBC) ETF gapped down and closed at 14.75 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.19. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 39.7.
Bonds
Bond futures (/ZB) closed at 165’28 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.1875. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 64.7.
High Yield bond ETF (HYG) gapped down and closed at 86.54 with a bearish candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range – 0.77. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Weak Upward. RSI – 48.4.
Currency
The dollar index ($DXY) closed at 98.962 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.563. 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 – 62.6.
EUR/USD closed at 1.0971 with a high closing doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0052. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 30.9.
USD/JPY closed at 105.90 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.642. 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 – Strong DownTrend. Momentum – Strong Upward. RSI – 44.5.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLY, XLK, SPY, SPX, XLI, XLB, XLV, XLF and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLK, XLY, SPY, SPX, XLI, XLB, XLF, XLV and XLE.
Market Internals
Market Sentiment – Slightly Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 114.68. Vix – 19.66 and Vix Futures – 19.25.
The Week Ahead
Market Sentiment is slightly bullish. Skew is normal. Vix is below 20. Vix Futures is below 20. Market volume is showing accumulation. Market Breadth has turned upwards and showing that there are more gainers than losers. High Yield junk bonds gapped down and is indicating there is less market appetite for risk. The prognosis is for a volatile market but with the current trade war unresolved, the market continues to come under selling pressure.
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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