Indices Dow Transportation gapped up and closed at 10783.03 with bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range is 227.68. 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 – 45.4.
Dow Industrial gapped up and closed at 28807.63 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 505.07. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 52.3.
Russell 2000 gapped up and closed at 1656.77 with a bullish marubozu candle on its 21 EMa and above its 8 EMA, 50 SMA and 200 SMA. Daily trading range – 28.79. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 50.
Nasdaq 100 gapped up and closed at 9334.0555 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 226.7304. 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 – 67.1.
S&P 500(SPX) gapped up and closed at 3297.59 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 58. Fractal Chaos Band – closed above 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 – Neutral. RSI – 56.9.
Metals and Commodities WTI Crude oil futures (CL) closed at $49.45 per barrel with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.24. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 25.1.
Gold (/GC) closed at 1556.7 with a big bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 31.7. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – negative and falling slope. Market direction – Neutral. Momentum – Weak Downward. RSI – 52.2.
Commodities (DBC) ETF closed at 14.33 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.16. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 17.9.
Bonds Bond futures (/ZB) closed at 162’04 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.125. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.9.
High Yield bond ETF (HYG) gapped up and closed at 87.67 with a bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.54. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 47.5.
Currency The dollar index ($DXY) closed at 97.934 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.2189. 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 – 58.3.
EUR/USD closed at 1.1042 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0031. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Strong Upward. RSI – 42.4.
USD/JPY closed at 109.51 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.996. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 53.3.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, XLY, XLU, SPY, SPX, SPY, /ES, XLP, XLV, XLF, XLI, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, XLY, SPY, SPX, XLU, XLP, /ES, XLF, XLV, XLI, XLB and XLE.
Market Internals Market Sentiment – Extremely Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 128.65. Vix – 16.05 and Vix Futures – 16.85. RSI – 55.2.
The Week Ahead Skew is normal. Vix is below 17 and Vix futures is below 17 and it is still elevated. Market Internals is giving mixed signals. Market sentiment is extremely bullish.
US bond futures sold off. Gold sold off as well. The indices soared together with Tesla. There are still plenty of buying pressure due to the money printing but the market will be volatile.
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.
4 February 2020 – Indices rally
Indices
Dow Transportation gapped up and closed at 10783.03 with bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range is 227.68. 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 – 45.4.
Dow Industrial gapped up and closed at 28807.63 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 505.07. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 52.3.
Russell 2000 gapped up and closed at 1656.77 with a bullish marubozu candle on its 21 EMa and above its 8 EMA, 50 SMA and 200 SMA. Daily trading range – 28.79. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 50.
Nasdaq 100 gapped up and closed at 9334.0555 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 226.7304. 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 – 67.1.
S&P 500 (SPX) gapped up and closed at 3297.59 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 58. Fractal Chaos Band – closed above 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 – Neutral. RSI – 56.9.
Metals and Commodities
WTI Crude oil futures (CL) closed at $49.45 per barrel with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.24. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 25.1.
Gold (/GC) closed at 1556.7 with a big bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 31.7. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – negative and falling slope. Market direction – Neutral. Momentum – Weak Downward. RSI – 52.2.
Commodities (DBC) ETF closed at 14.33 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.16. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 17.9.
Bonds
Bond futures (/ZB) closed at 162’04 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.125. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.9.
High Yield bond ETF (HYG) gapped up and closed at 87.67 with a bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.54. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 47.5.
Currency
The dollar index ($DXY) closed at 97.934 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.2189. 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 – 58.3.
EUR/USD closed at 1.1042 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0031. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Strong Upward. RSI – 42.4.
USD/JPY closed at 109.51 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.996. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 53.3.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, XLY, XLU, SPY, SPX, SPY, /ES, XLP, XLV, XLF, XLI, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, XLY, SPY, SPX, XLU, XLP, /ES, XLF, XLV, XLI, XLB and XLE.
Market Internals
Market Sentiment – Extremely Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 128.65. Vix – 16.05 and Vix Futures – 16.85. RSI – 55.2.
The Week Ahead
Skew is normal. Vix is below 17 and Vix futures is below 17 and it is still elevated. Market Internals is giving mixed signals. Market sentiment is extremely bullish.
US bond futures sold off. Gold sold off as well. The indices soared together with Tesla. There are still plenty of buying pressure due to the money printing but the market will be volatile.
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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