Indices (Weekly chart) Dow Transportation ($DJT) closed at 10708.54 with a bearish candle just below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 482.69. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 52.8. The index is in its monthly Squeeze.
Dow Industrial ($DJI) closed at 28015.06 with a bullish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 784.71. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium CycleWave – positive and rising. Short cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. It is in a monthly Squeeze. RSI – 64.4.
Russell 2000 closed at 1633.837 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 48.1725. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 62.2.
Nasdaq 100 closed at 8397.3672 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 242.5118. Fractal Chaos Band – Broke above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 68.
S&P 500 closed at 3145.91 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 80.27. Fractal Chaos Band – 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 – Strong Upward. RSI – 68.2.
Metals and Commodities (Weekly charts) WTI Crude oil futures (CL) closed at $59.07 per barrel with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 4.5. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Weak Upwards. RSI – 55.
Gold futures (GC) closed at 1464.5 with a small bearish candle below its 8 EMA, on its 21 EMA and above its 50 SMA, 200 SMA. Weekly trading range was 30.1. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short cycle – negative and falling slope. Market direction:- Weak DownTrend. Momentum – Strong Downward. RSI – 52.8.
Bonds (Weekly charts) Bond futures (/ZB) closed at 157’21 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 3.25. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short cycle – negative and rising. Market direction:- Weak DownTrend. Momentum – Weak Downward. RSI – 49.4.
High Yield bond ETF (HYG) closed at 86.93 with a bullish candle intertwined with its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Weekly trading range – 0.77. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Weak UpTrend. Momentum – Weak Upward. RSI – 52.8.
Currencies (Weekly charts) The dollar index ($DXY) closed at 97.677 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Weekly trading range – 1.021. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short cycle – positive and falling slope. Market direction:- Neutral. Momentum – Weak Upward. RSI – 49.4.
EUR/USD closed at 1.1062 with a bearish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 0.0113. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and rising slope. Short cycle – negative and falling slope. Market direction:- Strong DownTrend. Momentum – Strong Downward. RSI – 47.
USD/JPY closed at 108.51 with a big bearish candle above its 21 EMA and below its 8 EMA, 50 SMA, 200 SMA. Weekly trading range – 1.301. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – positive and falling slope. Short cycle – positive and falling slope. Market direction:- Weak UpTrend. Momentum – Weak Upward. RSI – 50.6.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the ETFs are XLK, SPY, XLF, XLV, SPX, /ES, XLP, XLB, XLI, XLY, XLE and XLU respectively.
On a 12-monthly lookback, the relative strength order of the ETFs are SPX, XLP, SPY, XLF, XLV, /ES, XLK, XLB, XLI, XLY, XLU and XLE respectively.
Market Internals Market Sentiment is extremely bullish. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 131.48. Vix is at 13.62 and Vix futures 14.41.
The Week Ahead The job figures came in with continuing job growth and the market went up. With QE Infinity, the market can be expected to keep going up and up. The prognosis is for a continuing bullish bias to the 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.
6 December 2019 – Jobs Growth soars, market soars
Indices (Weekly chart)
Dow Transportation ($DJT) closed at 10708.54 with a bearish candle just below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 482.69. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 52.8. The index is in its monthly Squeeze.
Dow Industrial ($DJI) closed at 28015.06 with a bullish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 784.71. 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. It is in a monthly Squeeze. RSI – 64.4.
Russell 2000 closed at 1633.837 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 48.1725. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 62.2.
Nasdaq 100 closed at 8397.3672 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 242.5118. Fractal Chaos Band – Broke above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 68.
S&P 500 closed at 3145.91 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 80.27. Fractal Chaos Band – 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 – Strong Upward. RSI – 68.2.
Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $59.07 per barrel with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 4.5. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Weak Upwards. RSI – 55.
Gold futures (GC) closed at 1464.5 with a small bearish candle below its 8 EMA, on its 21 EMA and above its 50 SMA, 200 SMA. Weekly trading range was 30.1. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short cycle – negative and falling slope. Market direction:- Weak DownTrend. Momentum – Strong Downward. RSI – 52.8.
Bonds (Weekly charts)
Bond futures (/ZB) closed at 157’21 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 3.25. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short cycle – negative and rising. Market direction:- Weak DownTrend. Momentum – Weak Downward. RSI – 49.4.
High Yield bond ETF (HYG) closed at 86.93 with a bullish candle intertwined with its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Weekly trading range – 0.77. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Weak UpTrend. Momentum – Weak Upward. RSI – 52.8.
Currencies (Weekly charts)
The dollar index ($DXY) closed at 97.677 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Weekly trading range – 1.021. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short cycle – positive and falling slope. Market direction:- Neutral. Momentum – Weak Upward. RSI – 49.4.
EUR/USD closed at 1.1062 with a bearish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 0.0113. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and rising slope. Short cycle – negative and falling slope. Market direction:- Strong DownTrend. Momentum – Strong Downward. RSI – 47.
USD/JPY closed at 108.51 with a big bearish candle above its 21 EMA and below its 8 EMA, 50 SMA, 200 SMA. Weekly trading range – 1.301. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – positive and falling slope. Short cycle – positive and falling slope. Market direction:- Weak UpTrend. Momentum – Weak Upward. RSI – 50.6.
Relative Strength – Sectors
On a 3-monthly lookback, the relative strength order of the ETFs are XLK, SPY, XLF, XLV, SPX, /ES, XLP, XLB, XLI, XLY, XLE and XLU respectively.
On a 12-monthly lookback, the relative strength order of the ETFs are SPX, XLP, SPY, XLF, XLV, /ES, XLK, XLB, XLI, XLY, XLU and XLE respectively.
Market Internals
Market Sentiment is extremely bullish. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 131.48. Vix is at 13.62 and Vix futures 14.41.
The Week Ahead
The job figures came in with continuing job growth and the market went up. With QE Infinity, the market can be expected to keep going up and up. The prognosis is for a continuing bullish bias to the 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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