Indices Dow Transportation gapped down and closed at 9925.98 with a big bullish hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 221.88. Fractal Chaos Band – 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 – 36.1.
Dow Industrial closed at 26201.04 with a big bullish hammer candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range – 461.74. Fractal Chaos Band – below its FCB lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 39.3.
Russell 2000 closed at 1486.3465 with a bullish hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 25.13. Fractal Chaos Band – below its FCB lowerband. 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 – 38.8.
Nasdaq 100 closed at 7638.3946 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 176.85. Fractal Chaos Band – crossed above its FCB lowerband. 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 – 44.
S&P 500(SPX) closed at 2910.63 with a big bullish hammer candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 55.19. Fractal Chaos Band – Below its FCB lowerband. 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 – 40.8.
Metals and Commodities WTI Crude oil futures (CL) closed at $52.31 per barrel with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.92. Fractal Chaos Band – below its FCB Lowerband. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 37.9.
Gold (/GC) closed at 1511.1 with a bullish inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 24.1. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 52.4.
Commodities (DBC) ETF gapped down and closed at 14.88 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.2. Fractal Chaos Band – below its FCB lowerband. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 39.2.
Bonds Bond futures (/ZB) closed at 164’14 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.75. Fractal Chaos Band – Crossed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.6.
High Yield bond ETF (HYG) closed at 86.16 with a big spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.49. Fractal Chaos Band – below its FCB lowerband. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 33.5.
Currency The dollar index ($DXY) closed at 98.906 with a bearish spinning top doji candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.5529. 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 – Strong Downward. RSI – 53.1.
EUR/USD closed at 1.0962 with a doji candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0058. 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 – Strong Upward. RSI – 46.5.
USD/JPY closed at 106.89 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.814. Fractal Chaos Band – crossed below its FCB Lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 42.5.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLI, /ES, SPX, XLY, SPY, XLF, XLI, XLV, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLK, /ES, SPX, SPY, XLY, XLI, XLF, XLB, 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 – 112.44. Vix – 19.2 and Vix Futures – 19.15.
The Week Ahead Market internals continue to show weakness. Market Sentiment is bearish. Skew is low. Vix and Vix futures have both risen to below 20 as market fear increases. Continuing poor economic data means that the likelihood of continuing selling pressure on the market. The prognosis is for a quick bounce in the market.
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 October 2019 – No good news but market bounced
Indices
Dow Transportation gapped down and closed at 9925.98 with a big bullish hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 221.88. Fractal Chaos Band – 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 – 36.1.
Dow Industrial closed at 26201.04 with a big bullish hammer candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range – 461.74. Fractal Chaos Band – below its FCB lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 39.3.
Russell 2000 closed at 1486.3465 with a bullish hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 25.13. Fractal Chaos Band – below its FCB lowerband. 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 – 38.8.
Nasdaq 100 closed at 7638.3946 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 176.85. Fractal Chaos Band – crossed above its FCB lowerband. 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 – 44.
S&P 500 (SPX) closed at 2910.63 with a big bullish hammer candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 55.19. Fractal Chaos Band – Below its FCB lowerband. 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 – 40.8.
Metals and Commodities
WTI Crude oil futures (CL) closed at $52.31 per barrel with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.92. Fractal Chaos Band – below its FCB Lowerband. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 37.9.
Gold (/GC) closed at 1511.1 with a bullish inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 24.1. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 52.4.
Commodities (DBC) ETF gapped down and closed at 14.88 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.2. Fractal Chaos Band – below its FCB lowerband. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 39.2.
Bonds
Bond futures (/ZB) closed at 164’14 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.75. Fractal Chaos Band – Crossed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.6.
High Yield bond ETF (HYG) closed at 86.16 with a big spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.49. Fractal Chaos Band – below its FCB lowerband. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 33.5.
Currency
The dollar index ($DXY) closed at 98.906 with a bearish spinning top doji candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.5529. 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 – Strong Downward. RSI – 53.1.
EUR/USD closed at 1.0962 with a doji candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0058. 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 – Strong Upward. RSI – 46.5.
USD/JPY closed at 106.89 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.814. Fractal Chaos Band – crossed below its FCB Lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 42.5.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLI, /ES, SPX, XLY, SPY, XLF, XLI, XLV, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLK, /ES, SPX, SPY, XLY, XLI, XLF, XLB, 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 – 112.44. Vix – 19.2 and Vix Futures – 19.15.
The Week Ahead
Market internals continue to show weakness. Market Sentiment is bearish. Skew is low. Vix and Vix futures have both risen to below 20 as market fear increases. Continuing poor economic data means that the likelihood of continuing selling pressure on the market. The prognosis is for a quick bounce in the market.
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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