Indices Dow Transportation closed at 10014.56 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 145.8. Fractal Chaos Band – Within 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 – 40.1.
Dow Industrial closed at 26478.02 with a doji candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range – 231.3. Fractal Chaos Band – within its FCB lowerband. Long Cycle Wave – positive and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 46.2.
Russell 2000 closed at 1497.7871 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 14.724. Fractal Chaos Band – within 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 – 42.7.
Nasdaq 100 closed at 7725.1295 with a gravestone doji candle above its 8 EMA, 50 SMA, 200 SMA and below its 21 EMA. Daily trading range – 72.114. 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 DownTrend. Momentum – Strong Upward. RSI – 48.9.
S&P 500(SPX) closed at 2938.79 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 24.07. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 46.9.
Metals and Commodities WTI Crude oil futures (CL) closed at $52.8 per barrel with a low closing doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.47. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 40.
Gold (/GC) closed at 1498.8 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 25.5. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 46.3.
Commodities (DBC) ETF closed at 14.98 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.12. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 43.5.
Bonds Bond futures (/ZB) closed at 164’09 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.125. Fractal Chaos Band – Above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 56.
High Yield bond ETF (HYG) closed at 86.36 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.24. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 39.15.
Currency The dollar index ($DXY) closed at 98.983 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.264. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Strong UpTrend. Momentum – Strong Downward. RSI – 54.9.
EUR/USD closed at 1.0968 with a bearish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0038. 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 DownTrend. Momentum – Strong Upward. RSI – 46.2.
USD/JPY closed at 107.24 with a bullish marubozu candle above its 50 SMA and below its 8 EMA, 21 EMA and 200 SMA. Daily trading range – 0.811. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 50.3.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLK, SPX, SPY, XLF, XLV, XLY, XLI, 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, XLF, XLI, 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 Sentiment is slightly bullish. Market internals is showing mix signals. Market Breadth continues to deteriorate but it is showing accumulation. Skew is low. Vix and Vix futures have both risen to below 20. The US economy is now coming under pressure from the continuing trade war. The prognosis is for a slow grind upwards.
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.
7 October 2019 – Indices inched upwards
Indices
Dow Transportation closed at 10014.56 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 145.8. Fractal Chaos Band – Within 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 – 40.1.
Dow Industrial closed at 26478.02 with a doji candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range – 231.3. Fractal Chaos Band – within its FCB lowerband. Long Cycle Wave – positive and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 46.2.
Russell 2000 closed at 1497.7871 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 14.724. Fractal Chaos Band – within 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 – 42.7.
Nasdaq 100 closed at 7725.1295 with a gravestone doji candle above its 8 EMA, 50 SMA, 200 SMA and below its 21 EMA. Daily trading range – 72.114. 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 DownTrend. Momentum – Strong Upward. RSI – 48.9.
S&P 500 (SPX) closed at 2938.79 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 24.07. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 46.9.
Metals and Commodities
WTI Crude oil futures (CL) closed at $52.8 per barrel with a low closing doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.47. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 40.
Gold (/GC) closed at 1498.8 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 25.5. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 46.3.
Commodities (DBC) ETF closed at 14.98 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.12. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 43.5.
Bonds
Bond futures (/ZB) closed at 164’09 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.125. Fractal Chaos Band – Above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 56.
High Yield bond ETF (HYG) closed at 86.36 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.24. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 39.15.
Currency
The dollar index ($DXY) closed at 98.983 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.264. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Strong UpTrend. Momentum – Strong Downward. RSI – 54.9.
EUR/USD closed at 1.0968 with a bearish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0038. 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 DownTrend. Momentum – Strong Upward. RSI – 46.2.
USD/JPY closed at 107.24 with a bullish marubozu candle above its 50 SMA and below its 8 EMA, 21 EMA and 200 SMA. Daily trading range – 0.811. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 50.3.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLK, SPX, SPY, XLF, XLV, XLY, XLI, 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, XLF, XLI, 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 Sentiment is slightly bullish. Market internals is showing mix signals. Market Breadth continues to deteriorate but it is showing accumulation. Skew is low. Vix and Vix futures have both risen to below 20. The US economy is now coming under pressure from the continuing trade war. The prognosis is for a slow grind upwards.
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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