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5 September 2019 – Indices Up, Bond down

Indices
Dow Transportation gapped up and closed at 10369.92 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 300.98. Fractal Chaos Band – Closed above its 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 – 56.7.

Dow Industrial gapped down and closed at 26728.15 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 480.83. Fractal Chaos Band – Above its 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 – 57.1.

Russell 2000 closed at 1510.7453 with a big bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 37.029. Fractal Chaos Band – crossed above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 51.9.

Nasdaq 100 gapped up and closed at 7862.5391 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 160.7211. Fractal Chaos Band – closed above its FCB Upperband. 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 – 57.8.

S&P 500 (SPX) gapped up and closed at 2976 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 48.08. Fractal Chaos Band – within its 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.

Metals and Commodities
WTI Crude oil futures (CL) closed at $56.17 per barrel with a low closing spinning top doji candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 2.01. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 53.6.

Gold (/GC) closed at 1527.1 with a bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 47.6. 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 – Weak UpTrend. Momentum – Weak Downward. RSI – 53.8.

Commodities (DBC) ETF closed at 15.08 with a bearish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.16. 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 UpTrend. Momentum – Strong Upward. RSI – 51.1.

Bonds
Bond futures (/ZB) closed at 163’31 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.5625. Fractal Chaos Band – Below its FCB Lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 53.3.

High Yield bond ETF (HYG) gapped up and closed at 87.06 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.41. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – Weak UpTrend. Momentum – Weak Upward. RSI – 55.4.

Currency
The dollar index ($DXY) closed at 98.371 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.45. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Weak Upward. RSI – 55.


EUR/USD closed at 1.1033 with a low closing doji candle on its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0068. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 41.6.

USD/JPY closed at 106.90 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.934. Fractal Chaos Band – above its FCB Upperband. 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 – 54.7.

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

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

Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 118.58. Vix – 16.27 and Vix Futures – 17.25.   

The Week Ahead 
Indices trended upwards and bond gave way and trended downwards. The indices are in their squeezes and it looks like it wants to Squeeze upwards! Market internals are showing strength. Skew is normal. Vix is below 17 and Vix futures is below 18. The prognosis is for a continuing rise in the indices and a pullback in the bond futures which is still overbought in the weekly chart.

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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