Indices Dow Transportation closed at 7468.23 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 712.6. 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 – 32.4.
Dow Industrial gapped up and closed at 21237.38 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1497.09. 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 – 34.3.
Russell 2000 closed at 1106.506 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 94.73. 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 – 28.8.
Nasdaq 100 gapped up and closed at 7473.9502 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 590.982. 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 – 39.1.
S&P 500(SPX) gapped up and closed at 2529.19 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 186.89. 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.
Metals and Commodities WTI Crude oil futures (CL) closed at $26.82 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 3.67. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 24.6.
Gold (/GC) closed at 1514.5 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 88.7. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling slope. Medium Cycle Wave – negative and falling slope. Short Cycle Wave – negative and rising slope. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 37.6.
Commodities (DBC) ETF closed at 11.20 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.288. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 18.7.
Bonds Bond futures (/ZB) closed at 171’31 with a huge bearish candle above its 50 SMA, 200 SMA and below its 8 EMA, 21 EMA. Daily trading range – 10.56. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 52.4.
High Yield bond ETF (HYG) closed at 76.36 with a big ‘rolling pin’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 3.07. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 27.6.
Currency The dollar index ($DXY) closed at 99.5 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.8509. Fractal Chaos Band – closed within its FCB. Long cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 59.9.
EUR/USD closed at 1.0995 with a huge bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0233. 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 – 45,5.
USD/JPY closed at 107.66 with a big bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 2.0949. Fractal Chaos Band – closed within 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 – 48.8.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLP, XLU, XLB, XLV, XLK, XLF, SPX, SPY, XLY, XLI, /ES and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLP, XLU, XLB, XLV, XLK, XLF, SPX, SPY, XLY, XLI, /ES and XLE.
Market Internals Market Sentiment – Bearish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 116.67. Vix – 75.91 and Vix Futures – 60.70.
The Week Ahead The indices sold off last night before recovering and grinded its way upwards. It had couple of sharp spike upwards due to short squeezez. Skew is below 117 which means the indices are bound to bounce upwards. Vix and Vix futures are still elevated. Market Sentiment is still bearish. Market Internals is showing some accumulation although market sentiment. The prognosis is for an up-day as the skew is giving the signal for a bounce.
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.
17 March 2020 – A small surge, pessimism remains
Indices
Dow Transportation closed at 7468.23 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 712.6. 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 – 32.4.
Dow Industrial gapped up and closed at 21237.38 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1497.09. 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 – 34.3.
Russell 2000 closed at 1106.506 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 94.73. 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 – 28.8.
Nasdaq 100 gapped up and closed at 7473.9502 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 590.982. 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 – 39.1.
S&P 500 (SPX) gapped up and closed at 2529.19 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 186.89. 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.
Metals and Commodities
WTI Crude oil futures (CL) closed at $26.82 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 3.67. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 24.6.
Gold (/GC) closed at 1514.5 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 88.7. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling slope. Medium Cycle Wave – negative and falling slope. Short Cycle Wave – negative and rising slope. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 37.6.
Commodities (DBC) ETF closed at 11.20 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.288. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 18.7.
Bonds
Bond futures (/ZB) closed at 171’31 with a huge bearish candle above its 50 SMA, 200 SMA and below its 8 EMA, 21 EMA. Daily trading range – 10.56. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 52.4.
High Yield bond ETF (HYG) closed at 76.36 with a big ‘rolling pin’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 3.07. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 27.6.
Currency
The dollar index ($DXY) closed at 99.5 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.8509. Fractal Chaos Band – closed within its FCB. Long cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 59.9.
EUR/USD closed at 1.0995 with a huge bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0233. 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 – 45,5.
USD/JPY closed at 107.66 with a big bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 2.0949. Fractal Chaos Band – closed within 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 – 48.8.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLP, XLU, XLB, XLV, XLK, XLF, SPX, SPY, XLY, XLI, /ES and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLP, XLU, XLB, XLV, XLK, XLF, SPX, SPY, XLY, XLI, /ES and XLE.
Market Internals
Market Sentiment – Bearish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 116.67. Vix – 75.91 and Vix Futures – 60.70.
The Week Ahead
The indices sold off last night before recovering and grinded its way upwards. It had couple of sharp spike upwards due to short squeezez. Skew is below 117 which means the indices are bound to bounce upwards. Vix and Vix futures are still elevated. Market Sentiment is still bearish. Market Internals is showing some accumulation although market sentiment. The prognosis is for an up-day as the skew is giving the signal for a bounce.
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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