Indices Dow Transportation closed at 10734.85 with a big bearish marubozu candle above its 50 SMA, 200 SMA and below its 8 EMA, 21 EMA. Daily trading range is 207.56. Fractal Chaos Band – closed 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 – Weak Downward. RSI – 47.
Dow Industrial closed at 27783.04 with a big bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 327.49. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Neutral. RSI – 54.5.
Russell 2000 closed at 1607.5786 with a big bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 20.71. Fractal Chaos Band – closed 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 – 57.1.
Nasdaq 100 closed at 8309.26 with a bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 135.26. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 57.6.
S&P 500(SPX) closed at 3113.87 with a big bearish candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 33.53. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 58.1.
Metals and Commodities WTI Crude oil futures (CL) closed at $55.99 per barrel with a small bullish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range – 1.25. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong downTrend. Momentum – Strong Downwards. RSI – 47.9.
Gold (/GC) closed at 1468.2 with a small bearish candle below its 21 EMA, 50 SMA and above its 8 EMA, 200 SMA. Daily trading range – 11.9. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Weak DownTrend. Momentum – Strong Upward. RSI – 45.5.
Commodities (DBC) ETF closed at 15.29 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.135. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Weak Downward. RSI – 42.5.
Bonds Bond futures (/ZB) closed at 157’24 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.9375. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Neutral. Momentum – Neutral. RSI – 49.6.
High Yield bond ETF (HYG) gapped down and closed at 86.54 with a bearish hammer candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.59. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 43.2.
Currency The dollar index ($DXY) closed at 97.887 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.565. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 46.
EUR/USD closed at 1.1078 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0032. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 55.2.
USD/JPY closed at 108.96 with a big bearish candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.803. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 55.9.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLP, XLV, XLF, /ES, SPY, SPX, XLK, XLI, XLB, XLY, XLE and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLP, XLF, /ES, SPY, XLV, XLK, SPX, XLI, XLY, XLB, XLU and XLE.
Market Internals Market Sentiment – Neutral. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 126.35. Vix – 14.91 and Vix Futures – 15.15.
The Week Ahead Market Internals are showing weakness. Skew is normal. Vix is below 15 and Vix Futures is below 16. Indices have pulled back. We could be seeing a small pullback to relieve the overbought conditions. December tends to be a strong month so any small pullback is likely to be bought up. The prognosis is to trade cautiously as the market is at a high level.
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.
2 December 2019 – Shallow pullback in indices
Indices
Dow Transportation closed at 10734.85 with a big bearish marubozu candle above its 50 SMA, 200 SMA and below its 8 EMA, 21 EMA. Daily trading range is 207.56. Fractal Chaos Band – closed 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 – Weak Downward. RSI – 47.
Dow Industrial closed at 27783.04 with a big bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 327.49. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Neutral. RSI – 54.5.
Russell 2000 closed at 1607.5786 with a big bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 20.71. Fractal Chaos Band – closed 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 – 57.1.
Nasdaq 100 closed at 8309.26 with a bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 135.26. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 57.6.
S&P 500 (SPX) closed at 3113.87 with a big bearish candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 33.53. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 58.1.
Metals and Commodities
WTI Crude oil futures (CL) closed at $55.99 per barrel with a small bullish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range – 1.25. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong downTrend. Momentum – Strong Downwards. RSI – 47.9.
Gold (/GC) closed at 1468.2 with a small bearish candle below its 21 EMA, 50 SMA and above its 8 EMA, 200 SMA. Daily trading range – 11.9. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Weak DownTrend. Momentum – Strong Upward. RSI – 45.5.
Commodities (DBC) ETF closed at 15.29 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.135. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Weak Downward. RSI – 42.5.
Bonds
Bond futures (/ZB) closed at 157’24 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.9375. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Neutral. Momentum – Neutral. RSI – 49.6.
High Yield bond ETF (HYG) gapped down and closed at 86.54 with a bearish hammer candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.59. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 43.2.
Currency
The dollar index ($DXY) closed at 97.887 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.565. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 46.
EUR/USD closed at 1.1078 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0032. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 55.2.
USD/JPY closed at 108.96 with a big bearish candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.803. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 55.9.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLP, XLV, XLF, /ES, SPY, SPX, XLK, XLI, XLB, XLY, XLE and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLP, XLF, /ES, SPY, XLV, XLK, SPX, XLI, XLY, XLB, XLU and XLE.
Market Internals
Market Sentiment – Neutral. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 126.35. Vix – 14.91 and Vix Futures – 15.15.
The Week Ahead
Market Internals are showing weakness. Skew is normal. Vix is below 15 and Vix Futures is below 16. Indices have pulled back. We could be seeing a small pullback to relieve the overbought conditions. December tends to be a strong month so any small pullback is likely to be bought up. The prognosis is to trade cautiously as the market is at a high level.
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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