11 February 2020 – COVID-19 and indices grind to new highs
Indices Dow Transportation closed at 10902.72 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 136.64. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 50.3.
Dow Industrial gapped up and closed at 29276.34 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 282.41. 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 – 58.3.
Russell 2000 gapped up and closed at 1677.5139 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 18.34. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 54.9.
Nasdaq 100 closed at 9517.8612 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 106.419. 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 – 71.
S&P 500(SPX) gapped up and closed at 3357.75 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 23.54. 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 – 63.6.
Metals and Commodities WTI Crude oil futures (CL) closed at $49.95 per barrel with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.11. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 33.1.
Gold (/GC) closed at 1575.5 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 9. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – negative and rising slope. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 56.3.
Commodities (DBC) ETF gapped down and closed at 14.45 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.11. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 29.5.
Bonds Bond futures (/ZB) closed at 162’07 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.625. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 56.9.
High Yield bond ETF (HYG) gapped up and closed at 88.15 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.19. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 54.6.
Currency The dollar index ($DXY) closed at 98.749 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.244. 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 – 66.7.
EUR/USD closed at 1.0914 with a small spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0033. 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 – 29.9.
USD/JPY closed at 109.77 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.239. 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 – 56.5.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, /ES, XLY, SPX, SPY, XLK, XLI, XLF, XLV, XLP, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are /ES, XLY, XLF, XLU, SPX, SPY, XLI, XLP, XLK, XLV, XLB and XLE.
Market Internals Market Sentiment – Extremely Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 132.95. Vix – 15.18 and Vix Futures – 15.50.
The Week Ahead Skew is normal. Vix is below 16 and Vix futures is below 16. Market Internals have turned to show bullishness. Market sentiment is extremely bullish. The indices closed at new all-time highs. The prognosis is for the bullishness to continue.
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.
11 February 2020 – COVID-19 and indices grind to new highs
Indices
Dow Transportation closed at 10902.72 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 136.64. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 50.3.
Dow Industrial gapped up and closed at 29276.34 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 282.41. 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 – 58.3.
Russell 2000 gapped up and closed at 1677.5139 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 18.34. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 54.9.
Nasdaq 100 closed at 9517.8612 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 106.419. 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 – 71.
S&P 500 (SPX) gapped up and closed at 3357.75 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 23.54. 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 – 63.6.
Metals and Commodities
WTI Crude oil futures (CL) closed at $49.95 per barrel with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.11. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 33.1.
Gold (/GC) closed at 1575.5 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 9. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – negative and rising slope. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 56.3.
Commodities (DBC) ETF gapped down and closed at 14.45 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.11. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 29.5.
Bonds
Bond futures (/ZB) closed at 162’07 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.625. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 56.9.
High Yield bond ETF (HYG) gapped up and closed at 88.15 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.19. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 54.6.
Currency
The dollar index ($DXY) closed at 98.749 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.244. 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 – 66.7.
EUR/USD closed at 1.0914 with a small spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0033. 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 – 29.9.
USD/JPY closed at 109.77 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.239. 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 – 56.5.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, /ES, XLY, SPX, SPY, XLK, XLI, XLF, XLV, XLP, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are /ES, XLY, XLF, XLU, SPX, SPY, XLI, XLP, XLK, XLV, XLB and XLE.
Market Internals
Market Sentiment – Extremely Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 132.95. Vix – 15.18 and Vix Futures – 15.50.
The Week Ahead
Skew is normal. Vix is below 16 and Vix futures is below 16. Market Internals have turned to show bullishness. Market sentiment is extremely bullish. The indices closed at new all-time highs. The prognosis is for the bullishness to continue.
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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