Indices Dow Transportation gapped up and closed at 10943.24 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 101.75. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and falling. Market direction – Strong UpTrend. Momentum – Strong Downward. RSI – 51.8.
Dow Industrial gapped up and closed at 29348.03 with a small candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 176.9. 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 – Weak Downward. RSI – 57.1.
Russell 2000 closed at 1692.5726 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 14.6371. 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.
Nasdaq 100 gapped up and closed at 9718.7265 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 106.77. 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 – 76.1.
S&P 500(SPX) closed at 3386.15 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 23.23. 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 – 65.6.
Metals and Commodities WTI Crude oil futures (CL) closed at $53.74 per barrel with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 1.71. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 49.8.
Gold (/GC) closed at 1614.6 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 13.5. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 69.7.
Commodities (DBC) ETF gapped up and closed at 14.90 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.15. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 48.4.
Bonds Bond futures (/ZB) closed at 163’00 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.8437. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 62.4.
High Yield bond ETF (HYG) closed at 88.26 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.15. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 55.0.
Currency The dollar index ($DXY) closed at 99.589 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.344. 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 – 77.0.
EUR/USD closed at 1.0803 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0029. 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 – 23.6.
USD/JPY closed at 111.35 with a huge bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.747. 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 – 70.8.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, SPX, SPY, XLY, /ES, XLP, XLU, XLF, XLV, XLI, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, SPX, SPY, XLY, /ES, XLP, XLF, XLV, XLU, 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 – 141.81. Vix – 14.38 and Vix Futures – 15.58.
The Week Ahead Skew is normal. Vix has increased to below 15 and Vix futures is below 16. Market Internals are showing weaknesses. Market sentiment is extremely bullish. The US dollar has shot up against every currencies. Gold and Oil have been trending upwards. The prognosis is for a volatile 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.
19 February 2020 – Commodities surges
Indices
Dow Transportation gapped up and closed at 10943.24 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 101.75. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and falling. Market direction – Strong UpTrend. Momentum – Strong Downward. RSI – 51.8.
Dow Industrial gapped up and closed at 29348.03 with a small candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 176.9. 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 – Weak Downward. RSI – 57.1.
Russell 2000 closed at 1692.5726 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 14.6371. 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.
Nasdaq 100 gapped up and closed at 9718.7265 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 106.77. 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 – 76.1.
S&P 500 (SPX) closed at 3386.15 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 23.23. 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 – 65.6.
Metals and Commodities
WTI Crude oil futures (CL) closed at $53.74 per barrel with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 1.71. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 49.8.
Gold (/GC) closed at 1614.6 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 13.5. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 69.7.
Commodities (DBC) ETF gapped up and closed at 14.90 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.15. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 48.4.
Bonds
Bond futures (/ZB) closed at 163’00 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.8437. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 62.4.
High Yield bond ETF (HYG) closed at 88.26 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.15. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 55.0.
Currency
The dollar index ($DXY) closed at 99.589 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.344. 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 – 77.0.
EUR/USD closed at 1.0803 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0029. 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 – 23.6.
USD/JPY closed at 111.35 with a huge bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.747. 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 – 70.8.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, SPX, SPY, XLY, /ES, XLP, XLU, XLF, XLV, XLI, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, SPX, SPY, XLY, /ES, XLP, XLF, XLV, XLU, 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 – 141.81. Vix – 14.38 and Vix Futures – 15.58.
The Week Ahead
Skew is normal. Vix has increased to below 15 and Vix futures is below 16. Market Internals are showing weaknesses. Market sentiment is extremely bullish. The US dollar has shot up against every currencies. Gold and Oil have been trending upwards. The prognosis is for a volatile 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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