Indices (Weekly chart) Dow Transportation closed at 10029.84 with a bearish candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Weekly trading range – 776.72. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 45. The index is in a weekly and monthly Squeeze.
Dow Industrial closed at 26573.72 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 1302.75. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium CycleWave – positive and falling. Short cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. It is in a monthly Squeeze. RSI – 52.3.
Russell 2000 closed at 1500.7018 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Weekly trading range – 76.865. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – positive and falling slope. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 45.9.
Nasdaq 100 closed at 7754.1025 with a spinning top doji candle aboveits 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 358.154. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short cycle – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Downward. RSI – 54.2.
S&P 500 closed at 2952.01 with a high closing spinning top doji candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 136.59. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 53.9.
Metals and Commodities (Weekly charts) WTI Crude oil futures (CL) closed at $53.01 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 5.58. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short cycle – negative and falling. Market direction:- Strong DownTrend. Momentum – Neutral. RSI – 42.7.
Gold futures (GC) closed at 1510.3 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 60.8. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short cycle – negative and falling. Market direction:- Strong UpTrend. Momentum – Strong Downward. RSI – 68.4.
Bonds (Weekly charts) Bond futures (/ZB) closed at 164’23 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 4.5625. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction:- Strong UpTrend. Momentum – Strong Downward. RSI – 66.7.
High Yield bond ETF (HYG) closed at 86.43 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Weekly trading range – 01.42. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short cycle – positive and rising. Market direction:- Weak DownTrend. Momentum – Strong Downward. RSI – 49.5.
Currencies (Weekly charts) The dollar index ($DXY) closed at 98.840 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 1.028. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction:- Strong UpTrend. Momentum – Strong Upward. RSI – 57.3.
EUR/USD closed at 1.0976 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 0.012. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short cycle – negative and rising. Market direction:- Strong DownTrend. Momentum – Strong Downward. RSI – 40.2.
USD/JPY closed at 106.90 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Weekly trading range – 1.986. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short cycle – positive and falling. Market direction:- Strong DownTrend. Momentum – Strong Upward. RSI – 43.7.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the ETFs are XLU, XLP, XLK, /ES, SPX, SPY, XLF, XLY, XLI, XLV, XLB and XLE respectively.
On a 12-monthly lookback, the relative strength order of the ETFs are XLU, XLP, XLK, /ES, SPX, SPY, XLY, XLF, XLI, XLB, XLV and XLE respectively.
Market Internals Market Sentiment is slightly bullish. Market Breadth is sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 114.54. Vix is at 17.04 and Vix futures 17.65.
The Week Ahead Recent economic data is mixed. The manufacturing index PMI is below 48 but the non-manufacturing jobs figure is still at a reasonable figure. Market which has been down the previous 2 weeks rallied into the close on Friday. The prognosis is for a volatile market in the month of October.
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.
4 October 2019 – A pullback and bounce
Indices (Weekly chart)
Dow Transportation closed at 10029.84 with a bearish candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Weekly trading range – 776.72. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 45. The index is in a weekly and monthly Squeeze.
Dow Industrial closed at 26573.72 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 1302.75. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. It is in a monthly Squeeze. RSI – 52.3.
Russell 2000 closed at 1500.7018 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Weekly trading range – 76.865. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – positive and falling slope. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 45.9.
Nasdaq 100 closed at 7754.1025 with a spinning top doji candle aboveits 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 358.154. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short cycle – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Downward. RSI – 54.2.
S&P 500 closed at 2952.01 with a high closing spinning top doji candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 136.59. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 53.9.
Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $53.01 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 5.58. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short cycle – negative and falling. Market direction:- Strong DownTrend. Momentum – Neutral. RSI – 42.7.
Gold futures (GC) closed at 1510.3 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 60.8. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short cycle – negative and falling. Market direction:- Strong UpTrend. Momentum – Strong Downward. RSI – 68.4.
Bonds (Weekly charts)
Bond futures (/ZB) closed at 164’23 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 4.5625. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction:- Strong UpTrend. Momentum – Strong Downward. RSI – 66.7.
High Yield bond ETF (HYG) closed at 86.43 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Weekly trading range – 01.42. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short cycle – positive and rising. Market direction:- Weak DownTrend. Momentum – Strong Downward. RSI – 49.5.
Currencies (Weekly charts)
The dollar index ($DXY) closed at 98.840 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 1.028. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction:- Strong UpTrend. Momentum – Strong Upward. RSI – 57.3.
EUR/USD closed at 1.0976 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 0.012. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short cycle – negative and rising. Market direction:- Strong DownTrend. Momentum – Strong Downward. RSI – 40.2.
USD/JPY closed at 106.90 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Weekly trading range – 1.986. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short cycle – positive and falling. Market direction:- Strong DownTrend. Momentum – Strong Upward. RSI – 43.7.
Relative Strength – Sectors
On a 3-monthly lookback, the relative strength order of the ETFs are XLU, XLP, XLK, /ES, SPX, SPY, XLF, XLY, XLI, XLV, XLB and XLE respectively.
On a 12-monthly lookback, the relative strength order of the ETFs are XLU, XLP, XLK, /ES, SPX, SPY, XLY, XLF, XLI, XLB, XLV and XLE respectively.
Market Internals
Market Sentiment is slightly bullish. Market Breadth is sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 114.54. Vix is at 17.04 and Vix futures 17.65.
The Week Ahead
Recent economic data is mixed. The manufacturing index PMI is below 48 but the non-manufacturing jobs figure is still at a reasonable figure. Market which has been down the previous 2 weeks rallied into the close on Friday. The prognosis is for a volatile market in the month of October.
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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