Indices Dow Transportation closed at 10432.81 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 102.69. Fractal Chaos Band – closed 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 – 56.8.
Dow Industrial closed at 27001.98 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 115.05. 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 – 57.2.
Russell 2000 closed at 1525.0572 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 9.1926. Fractal Chaos Band – 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 – 53.2.
Nasdaq 100 closed at 7920.2088 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 44.54. 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 – 58.4.
S&P 500(SPX) closed at 2989.69 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 12.34. 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 – 56.1.
Metals and Commodities WTI Crude oil futures (CL) closed at $52.97 per barrel with a doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.23. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 42.
Gold (/GC) closed at 1494 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 14.9. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 45.6.
Commodities (DBC) ETF closed at 15.20 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.115. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 52.3.
Bonds Bond futures (/ZB) closed at 160’13 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.0312. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 43.1.
High Yield bond ETF (HYG) closed at 86.95 with a tiny bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.08. Fractal Chaos Band – above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 53.3.
Currency The dollar index ($DXY) closed at 98.008 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.522. Fractal Chaos Band – below its FCB. 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.
EUR/USD closed at 1.1070 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.0067. 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 – 59.6.
USD/JPY closed at 108.73 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.295. 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 – Strong Upward. RSI – 63.7.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength of the S&P 500 XLK, SPX, /ES, XLV, SPY, XLY, XLF, XLU, XLI, XLP, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, SPX, SPY, /ES, XLY, XLU, XLF, XLP, XLI, 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 – 125.53. Vix – 13.68 and Vix Futures – 16.85.
The Week Ahead Indices pulled back slightly. Market internals are still showing some strength. Skew is normal, Vix is below 14 and Vix futures is below 17. The equity market is taking stock of the trade deal between USA and China. Also, signs of recession are showing up in the US economy. The prognosis is still for a bullish bias in the stock market but a cautious 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.
16 October 2019 – Doubts about trade deal
Indices
Dow Transportation closed at 10432.81 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 102.69. Fractal Chaos Band – closed 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 – 56.8.
Dow Industrial closed at 27001.98 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 115.05. 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 – 57.2.
Russell 2000 closed at 1525.0572 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 9.1926. Fractal Chaos Band – 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 – 53.2.
Nasdaq 100 closed at 7920.2088 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 44.54. 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 – 58.4.
S&P 500 (SPX) closed at 2989.69 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 12.34. 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 – 56.1.
Metals and Commodities
WTI Crude oil futures (CL) closed at $52.97 per barrel with a doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.23. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 42.
Gold (/GC) closed at 1494 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 14.9. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 45.6.
Commodities (DBC) ETF closed at 15.20 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.115. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 52.3.
Bonds
Bond futures (/ZB) closed at 160’13 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.0312. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 43.1.
High Yield bond ETF (HYG) closed at 86.95 with a tiny bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.08. Fractal Chaos Band – above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 53.3.
Currency
The dollar index ($DXY) closed at 98.008 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.522. Fractal Chaos Band – below its FCB. 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.
EUR/USD closed at 1.1070 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.0067. 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 – 59.6.
USD/JPY closed at 108.73 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.295. 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 – Strong Upward. RSI – 63.7.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength of the S&P 500 XLK, SPX, /ES, XLV, SPY, XLY, XLF, XLU, XLI, XLP, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, SPX, SPY, /ES, XLY, XLU, XLF, XLP, XLI, 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 – 125.53. Vix – 13.68 and Vix Futures – 16.85.
The Week Ahead
Indices pulled back slightly. Market internals are still showing some strength. Skew is normal, Vix is below 14 and Vix futures is below 17. The equity market is taking stock of the trade deal between USA and China. Also, signs of recession are showing up in the US economy. The prognosis is still for a bullish bias in the stock market but a cautious 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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