Indices Dow Transportation closed at 10067.33 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range is 173.84. 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 – Weak DownTrend. Momentum – Weak Downward. RSI – 45.
Dow Industrial closed at 26496.67 with a bullish marubozu candle above its 8 EMA, 50 SMA, 200 SMA and below its 21 EMA. Daily trading range – 288.8. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 48.
Russell 2000 closed at 1485.3637 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 12.113. 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 – 41.4.
Nasdaq 100 closed at 7740.3623 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 90.06. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 50.4.
S&P 500(SPX) closed at 2938.13 with a bullish candle above its 8 EMA, 50 SMA, 200 SMA and below its 21 EMA. Daily trading range – 31.34. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 48.3.
Metals and Commodities WTI Crude oil futures (CL) closed at $53.86 per barrel with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 2.59. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Strong Upward. RSI – 44.2.
Gold (/GC) closed at 1498.7 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 26.6. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 47.5.
Commodities (DBC) ETF closed at 15.11 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.11. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 49.4.
Bonds Bond futures (/ZB) closed at 162’01 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 2.4375. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Semi-Strong Downward. RSI – 46.8.
High Yield bond ETF (HYG) closed at 86.41 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.18. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 43.1.
Currency The dollar index ($DXY) closed at 98.693 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.49. 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 – Weak DownTrend. Momentum – Strong Downward. RSI – 49.1.
EUR/USD closed at 1.1004 with a small bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.0064. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 52.8.
USD/JPY closed at 107.95 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.98. Fractal Chaos Band – within 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 – Upward. RSI – 51.9.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLK, /ES, SPX, SPY, XLY, 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, XLF, XLI, XLB, XLV and XLE.
Market Internals Market Sentiment – Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping upwards and showing slight accumulation. Skew – 120.85. Vix – 17.57 and Vix Futures – 17.35.
The Week Ahead The indices were buoyed on hope that there is progress on the trade negotiation between China and US. As usual, Trump has taken to twitter to boost that hope. The bond and indices have been volatile as of late and is rather news driven. Market sentiment is bullish and market internals are showing that the market volume is showing accumulation and market breadth is still showing more losers than gainers. The prognosis is for a volatile market but a likelihood of the market pushing higher on supposedly good news.
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.
10 October 2019 – Indices rise on trade hope
Indices
Dow Transportation closed at 10067.33 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range is 173.84. 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 – Weak DownTrend. Momentum – Weak Downward. RSI – 45.
Dow Industrial closed at 26496.67 with a bullish marubozu candle above its 8 EMA, 50 SMA, 200 SMA and below its 21 EMA. Daily trading range – 288.8. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 48.
Russell 2000 closed at 1485.3637 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 12.113. 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 – 41.4.
Nasdaq 100 closed at 7740.3623 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 90.06. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 50.4.
S&P 500 (SPX) closed at 2938.13 with a bullish candle above its 8 EMA, 50 SMA, 200 SMA and below its 21 EMA. Daily trading range – 31.34. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Weak Upward. RSI – 48.3.
Metals and Commodities
WTI Crude oil futures (CL) closed at $53.86 per barrel with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 2.59. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Strong Upward. RSI – 44.2.
Gold (/GC) closed at 1498.7 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 26.6. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 47.5.
Commodities (DBC) ETF closed at 15.11 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.11. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 49.4.
Bonds
Bond futures (/ZB) closed at 162’01 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 2.4375. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Semi-Strong Downward. RSI – 46.8.
High Yield bond ETF (HYG) closed at 86.41 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.18. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 43.1.
Currency
The dollar index ($DXY) closed at 98.693 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.49. 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 – Weak DownTrend. Momentum – Strong Downward. RSI – 49.1.
EUR/USD closed at 1.1004 with a small bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.0064. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 52.8.
USD/JPY closed at 107.95 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.98. Fractal Chaos Band – within 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 – Upward. RSI – 51.9.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLK, /ES, SPX, SPY, XLY, 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, XLF, XLI, XLB, XLV and XLE.
Market Internals
Market Sentiment – Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping upwards and showing slight accumulation. Skew – 120.85. Vix – 17.57 and Vix Futures – 17.35.
The Week Ahead
The indices were buoyed on hope that there is progress on the trade negotiation between China and US. As usual, Trump has taken to twitter to boost that hope. The bond and indices have been volatile as of late and is rather news driven. Market sentiment is bullish and market internals are showing that the market volume is showing accumulation and market breadth is still showing more losers than gainers. The prognosis is for a volatile market but a likelihood of the market pushing higher on supposedly good news.
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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