18 December 2019 – Bond falls, indices are sideways
Indices Dow Transportation closed at 10779.78 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 171.89. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 51.2.
Dow Industrial closed at 28239.28 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 83.97. 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 – 63.8.
Russell 2000 closed at 1661.7308 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 8.651. 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 – Strong Upward. RSI – 70.6.
Nasdaq 100 closed at 8580.6241 with a small candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 32.398. 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 – Strong Upward. RSI – 71.9.
S&P 500(SPX) closed at 3191.14 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 7.34. 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 – Strong Upward. RSI – 70.6.
Metals and Commodities WTI Crude oil futures (CL) closed at $60.8 per barrel with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.87. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upwards. RSI – 66.2.
Gold (/GC) closed at 1479.4 with a small bearish candle below its 50 SMA and above its 8 EMA, 21 EMA, 200 SMA. Daily trading range – 9.3. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 53.6.
Commodities (DBC) ETF gapped up and closed at 16.06 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.1. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 68.2.
Bonds Bond futures (/ZB) closed at 156’05 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.4687. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 40.6.
High Yield bond ETF (HYG) closed at 88.05 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.27. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 72.6.
Currency The dollar index ($DXY) closed at 97.404 with a bullish marubozu candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.291. 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 – Weak DownTrend. Momentum – Strong Upward. RSI – 44.3.
EUR/USD closed at 1.112 with a bearish candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range – 0.0043. 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 – Weak Upward. RSI – 57.9.
USD/JPY closed at 109.53 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.229. 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 – 61.5.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are /ES, SPY, SPX, XLV, XLY, XLK, XLF, XLE, XLB, XLP, XLU and XLI.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are /ES, SPY, SPX, XLY, XLV, XLK, XLF, XLP, XLU, XLB, XLI and XLE.
Market Internals Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 144.56. Vix – 12.58 and Vix Futures – 14.90.
The Week Ahead Skew is showing tail risk has increased to high risk. Vix is below 13 and Vix futures is below 15. Market Internals continue to show strength. The indices continue to trend upwards and it could be a sign of irrational bullishness. The indices are overbought both in the daily and weekly chart. The prognosis is for the indices to be sideways.
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.
18 December 2019 – Bond falls, indices are sideways
Indices
Dow Transportation closed at 10779.78 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 171.89. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 51.2.
Dow Industrial closed at 28239.28 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 83.97. 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 – 63.8.
Russell 2000 closed at 1661.7308 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 8.651. 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 – Strong Upward. RSI – 70.6.
Nasdaq 100 closed at 8580.6241 with a small candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 32.398. 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 – Strong Upward. RSI – 71.9.
S&P 500 (SPX) closed at 3191.14 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 7.34. 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 – Strong Upward. RSI – 70.6.
Metals and Commodities
WTI Crude oil futures (CL) closed at $60.8 per barrel with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.87. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upwards. RSI – 66.2.
Gold (/GC) closed at 1479.4 with a small bearish candle below its 50 SMA and above its 8 EMA, 21 EMA, 200 SMA. Daily trading range – 9.3. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 53.6.
Commodities (DBC) ETF gapped up and closed at 16.06 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.1. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 68.2.
Bonds
Bond futures (/ZB) closed at 156’05 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.4687. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 40.6.
High Yield bond ETF (HYG) closed at 88.05 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.27. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 72.6.
Currency
The dollar index ($DXY) closed at 97.404 with a bullish marubozu candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.291. 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 – Weak DownTrend. Momentum – Strong Upward. RSI – 44.3.
EUR/USD closed at 1.112 with a bearish candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range – 0.0043. 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 – Weak Upward. RSI – 57.9.
USD/JPY closed at 109.53 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.229. 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 – 61.5.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are /ES, SPY, SPX, XLV, XLY, XLK, XLF, XLE, XLB, XLP, XLU and XLI.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are /ES, SPY, SPX, XLY, XLV, XLK, XLF, XLP, XLU, XLB, XLI and XLE.
Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 144.56. Vix – 12.58 and Vix Futures – 14.90.
The Week Ahead
Skew is showing tail risk has increased to high risk. Vix is below 13 and Vix futures is below 15. Market Internals continue to show strength. The indices continue to trend upwards and it could be a sign of irrational bullishness. The indices are overbought both in the daily and weekly chart. The prognosis is for the indices to be sideways.
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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