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25 November 2019 – Strength in the indices

Indices
Dow Transportation closed at 10948.50 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 170.03. Fractal Chaos Band – closed on its FCB upperband. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 58.2.

Dow Industrial closed at 28066.47 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 193.07. Fractal Chaos Band – closed 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 – Weak Upward. RSI – 69.8.

Russell 2000 closed at 1621.9042 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 35.05. 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 – 68.1.

Nasdaq 100 closed at 8371.93 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 100.77. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 70.

S&P 500 (SPX) closed at 3133.64 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 23.61. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 72.

Metals and Commodities
WTI Crude oil futures (CL) closed at $57.91 per barrel with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.94. Fractal Chaos Band – closed 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 Upwards. RSI – 56.9.

Gold (/GC) closed at 1455.1 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 8.1. Fractal Chaos Band – closed below its FCB lowerband. Long Cycle Wave – negative and falling slope. Medium Cycle Wave – negative and falling slope. Short Cycle Wave – negative and falling slope. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 40.

Commodities (DBC) ETF closed at 15.61 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.1. Fractal Chaos Band – closed 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 – 56.

Bonds
Bond futures (/ZB) closed at 159’10 (new contract month) with a bearish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 0.8125. Fractal Chaos Band – closed within 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 – 50.

High Yield bond ETF (HYG) closed at 86.92 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.25. Fractal Chaos Band – closed within 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.

Currency
The dollar index ($DXY) closed at 98.285 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.207. Fractal Chaos Band – closed within 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 – 56.9.


EUR/USD closed at 1.1012 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0028. 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 – 41.1.

USD/JPY closed at 108.97 with a bullish candle above its above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.3979. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 56.8.

Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are SPX, SPY, XLV, XLK, XLF, XLI, /ES, XLB, XLP, XLY, XLE and XLU.

On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are SPY, SPX, XLV, XLK, XLF, XLI, /ES, XLP, XLB, XLY, XLU 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 – 128.65. Vix – 11.87 and Vix Futures – 14.05.   

The Week Ahead 
Market Internals have reversed and is showing strength. The indices are getting to be on the overbought side. Skew is normal. Vix is below 12 and Vix futures is below 15. On the trade front, there is still no agreement between the US and China. The prognosis is for continuing upward buying pressure but with the indices nearly in the overbought condition, caution is needed.

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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