Indices Dow Transportation gapped down and closed at 10509.92 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 511.54. 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 – 36.1.
Dow Industrial closed at 27960.80 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1079.97. 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 – 33.4.
Russell 2000 closed at 1628.1036 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 58.47. 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 – 38.3.
Nasdaq 100 gapped down and closed at 9079.6323 with an inverted hammer candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 417.8145. 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 – Strong DownTrend. Momentum – Strong Downward. RSI – 40.8.
S&P 500(SPX) gapped down and closed at 3225.89 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 123.1. 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 – 36.6.
Metals and Commodities WTI Crude oil futures (CL) closed at $51.34 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 3.01. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 41.
Gold (/GC) gapped up and closed at 1661.7 with a low closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 45.8. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 78.7.
Commodities (DBC) ETF gapped down and closed at 14.50 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.38. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 36.4.
Bonds Bond futures (/ZB) gapped up and closed at 166’26 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.3437. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 71.3.
High Yield bond ETF (HYG) gapped down and closed at 87.38 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.13. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 38.7.
Currency The dollar index ($DXY) closed at 99.292 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.525. 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 – 62.5.
EUR/USD closed at 1.0850 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0067. 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 DownTrend. Momentum – Strong Upward. RSI – 38.9.
USD/JPY closed at 110.69 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.345. 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 – 57.5.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, XLK, /ES, XLP, SPX, XLY, SPY, XLV, XLI, XLB, XLF and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLK, XLV, SPX, SPY, XLF, XLY, XLI, XLB and XLE.
Market Internals Market Sentiment – Slightly Bearish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 130.48. Vix – 25.03 and Vix Futures – 19.10.
The Week Ahead Skew is normal. Vix has increased to below 26 and Vix futures is below 20. Market Internals are showing weakness. Market sentiment is slightly bearish. Gold and Oil surged upwards. There were fears in the market due to increase in infections in Italy and Iran. The prognosis is for a volatile market with bearish bias.
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.
24 February 2020 – Market Sell-Off
Indices
Dow Transportation gapped down and closed at 10509.92 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 511.54. 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 – 36.1.
Dow Industrial closed at 27960.80 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1079.97. 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 – 33.4.
Russell 2000 closed at 1628.1036 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 58.47. 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 – 38.3.
Nasdaq 100 gapped down and closed at 9079.6323 with an inverted hammer candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 417.8145. 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 – Strong DownTrend. Momentum – Strong Downward. RSI – 40.8.
S&P 500 (SPX) gapped down and closed at 3225.89 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 123.1. 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 – 36.6.
Metals and Commodities
WTI Crude oil futures (CL) closed at $51.34 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 3.01. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 41.
Gold (/GC) gapped up and closed at 1661.7 with a low closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 45.8. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 78.7.
Commodities (DBC) ETF gapped down and closed at 14.50 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.38. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 36.4.
Bonds
Bond futures (/ZB) gapped up and closed at 166’26 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.3437. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 71.3.
High Yield bond ETF (HYG) gapped down and closed at 87.38 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.13. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 38.7.
Currency
The dollar index ($DXY) closed at 99.292 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.525. 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 – 62.5.
EUR/USD closed at 1.0850 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0067. 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 DownTrend. Momentum – Strong Upward. RSI – 38.9.
USD/JPY closed at 110.69 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.345. 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 – 57.5.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, XLK, /ES, XLP, SPX, XLY, SPY, XLV, XLI, XLB, XLF and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLK, XLV, SPX, SPY, XLF, XLY, XLI, XLB and XLE.
Market Internals
Market Sentiment – Slightly Bearish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 130.48. Vix – 25.03 and Vix Futures – 19.10.
The Week Ahead
Skew is normal. Vix has increased to below 26 and Vix futures is below 20. Market Internals are showing weakness. Market sentiment is slightly bearish. Gold and Oil surged upwards. There were fears in the market due to increase in infections in Italy and Iran. The prognosis is for a volatile market with bearish bias.
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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