21 January 2020 – Corona virus halts indices advance
Indices Dow Transportation closed at 11075.01 with a big bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range is 250.44. Fractal Chaos Band – closed above 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 – 54.7.
Dow Industrial closed at 29196.04 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 201.63. 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 – 66.2.
Russell 2000 closed at 1685.898 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 15.374. Fractal Chaos Band – closed above 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 – 61.3.
Nasdaq 100 closed at 9166.6275 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 45.636. 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 – 78.1.
S&P 500(SPX) closed at 3320.79 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 13.18. 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 – 72.9.
Metals and Commodities WTI Crude oil futures (CL) closed at $58.24 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 2.06. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and positive. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 40.6.
Gold (/GC) closed at 1558 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 22.8. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 60.1.
Commodities (DBC) ETF closed at 15.68 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.105. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 41.9.
Bonds Bond futures (/ZB) closed at 158’17 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.4375. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 53.9.
High Yield bond ETF (HYG) closed at 88.17 with a bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.26. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 56.4.
Currency The dollar index ($DXY) closed at 97.608 with a high closing doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.264. 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 – 56.8.
EUR/USD closed at 1.1081 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0037. Fractal Chaos Band – closed 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 – 43.4.
USD/JPY closed at 109.84 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.4619. 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 – 60.7.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, /ES, XLV, SPX, SPY, XLK, XLY,, XLF, XLI, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLV, SPX, SPY, XLK, XLY, XLF, XLI, XLB and XLE.
Market Internals Market Sentiment – Extremely Bullish. Market Breadth – sloping upward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 132.70. Vix – 12.85 and Vix Futures – 14.81.
The Week Ahead Skew is normal. Vix is below 13 and Vix futures is below 15. The Vix futures has increased as market is pricing in near term volatility. Market Internals is showing some weakening perhaps due to news of the Wuhan corona virus. Market sentiment is still bullish. The Dow Transportation and Russell 2000 sold off. High Yield bond sold off as well. These are the market leading indicators. US dollar index is trending upwards. Gold is inversely correlated to the US dollar index has been trending upwards continue to show strength. A weakening in the US$ index will send gold flying upwards!
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.
21 January 2020 – Corona virus halts indices advance
Indices
Dow Transportation closed at 11075.01 with a big bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range is 250.44. Fractal Chaos Band – closed above 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 – 54.7.
Dow Industrial closed at 29196.04 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 201.63. 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 – 66.2.
Russell 2000 closed at 1685.898 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 15.374. Fractal Chaos Band – closed above 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 – 61.3.
Nasdaq 100 closed at 9166.6275 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 45.636. 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 – 78.1.
S&P 500 (SPX) closed at 3320.79 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 13.18. 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 – 72.9.
Metals and Commodities
WTI Crude oil futures (CL) closed at $58.24 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 2.06. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and positive. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 40.6.
Gold (/GC) closed at 1558 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 22.8. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 60.1.
Commodities (DBC) ETF closed at 15.68 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.105. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 41.9.
Bonds
Bond futures (/ZB) closed at 158’17 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.4375. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 53.9.
High Yield bond ETF (HYG) closed at 88.17 with a bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.26. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 56.4.
Currency
The dollar index ($DXY) closed at 97.608 with a high closing doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.264. 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 – 56.8.
EUR/USD closed at 1.1081 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0037. Fractal Chaos Band – closed 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 – 43.4.
USD/JPY closed at 109.84 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.4619. 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 – 60.7.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, /ES, XLV, SPX, SPY, XLK, XLY,, XLF, XLI, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLV, SPX, SPY, XLK, XLY, XLF, XLI, XLB and XLE.
Market Internals
Market Sentiment – Extremely Bullish. Market Breadth – sloping upward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 132.70. Vix – 12.85 and Vix Futures – 14.81.
The Week Ahead
Skew is normal. Vix is below 13 and Vix futures is below 15. The Vix futures has increased as market is pricing in near term volatility. Market Internals is showing some weakening perhaps due to news of the Wuhan corona virus. Market sentiment is still bullish. The Dow Transportation and Russell 2000 sold off. High Yield bond sold off as well. These are the market leading indicators. US dollar index is trending upwards. Gold is inversely correlated to the US dollar index has been trending upwards continue to show strength. A weakening in the US$ index will send gold flying upwards!
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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