11 March 2020: Global Pandemic declared by WHO, market tanks!!
Indices Dow Transportation closed at 8126.09 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 493.03. 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 – 25.
Dow Industrial gapped down and closed at 23553.22 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1689.84. 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 – 31.4.
Russell 2000 closed at 1264.29 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 101.6206. 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 – 22.8.
Nasdaq 100 gapped down and closed at 8006.1187 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 471.2766. 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.
S&P 500(SPX) gapped down and closed at 2741.38 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 175.01. 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 – 32.
Metals and Commodities WTI Crude oil futures (CL) closed at $33.12 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 3.79. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 23.8.
Gold (/GC) closed at 1634.9 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 39.4. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – positive and falling slope. Market direction – Weak UpTrend. Momentum – Neutral. RSI – 53.8.
Commodities (DBC) ETF closed at 12.48 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.245. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 24.8.
Bonds Bond futures (/ZB) closed at 178’30 with a low closing doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 4.0625. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 71.2.
High Yield bond ETF (HYG) gapped down and closed at 80.84 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.44. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 25.3.
Currency The dollar index ($DXY) closed at 96.603 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.7779. 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 – Strong DownTrend. Momentum – Weak Downward. RSI – 37.7.
EUR/USD closed at 1.1267 with a low closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0109. 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 – 65.3.
USD/JPY closed at 104.53 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.556. Fractal Chaos Band – closed within its FCB. Long Cycle Wave -negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 32.6.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLP, XLY, XLV, XLK, XLU, SPY, SPX, XLB, XLF, XLI, XLE and /ES.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, XLV, XLP, XLU, XLY, SPY, SPX, XLB, XLF, XLI, XLE and /ES.
Market Internals Market Sentiment – Bearish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 121.72. Vix – 53.90 and Vix Futures – 52.70.
The Week Ahead Trump has suspended travel between Europe and the USA. WHO has declared COVID-19 to be a global pandemic. Despite Trump promising financial help to industry affected by COVID-19, the market tanked. This market pullback is very serious and could be prolonged over many months. The prognosis is for a volatile market which is under selling pressure.
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 March 2020: Global Pandemic declared by WHO, market tanks!!
Indices
Dow Transportation closed at 8126.09 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 493.03. 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 – 25.
Dow Industrial gapped down and closed at 23553.22 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1689.84. 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 – 31.4.
Russell 2000 closed at 1264.29 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 101.6206. 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 – 22.8.
Nasdaq 100 gapped down and closed at 8006.1187 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 471.2766. 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.
S&P 500 (SPX) gapped down and closed at 2741.38 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 175.01. 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 – 32.
Metals and Commodities
WTI Crude oil futures (CL) closed at $33.12 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 3.79. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 23.8.
Gold (/GC) closed at 1634.9 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 39.4. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short Cycle Wave – positive and falling slope. Market direction – Weak UpTrend. Momentum – Neutral. RSI – 53.8.
Commodities (DBC) ETF closed at 12.48 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.245. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 24.8.
Bonds
Bond futures (/ZB) closed at 178’30 with a low closing doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 4.0625. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 71.2.
High Yield bond ETF (HYG) gapped down and closed at 80.84 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.44. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 25.3.
Currency
The dollar index ($DXY) closed at 96.603 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.7779. 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 – Strong DownTrend. Momentum – Weak Downward. RSI – 37.7.
EUR/USD closed at 1.1267 with a low closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0109. 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 – 65.3.
USD/JPY closed at 104.53 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.556. Fractal Chaos Band – closed within its FCB. Long Cycle Wave -negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 32.6.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLP, XLY, XLV, XLK, XLU, SPY, SPX, XLB, XLF, XLI, XLE and /ES.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, XLV, XLP, XLU, XLY, SPY, SPX, XLB, XLF, XLI, XLE and /ES.
Market Internals
Market Sentiment – Bearish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 121.72. Vix – 53.90 and Vix Futures – 52.70.
The Week Ahead
Trump has suspended travel between Europe and the USA. WHO has declared COVID-19 to be a global pandemic. Despite Trump promising financial help to industry affected by COVID-19, the market tanked. This market pullback is very serious and could be prolonged over many months. The prognosis is for a volatile market which is under selling pressure.
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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