Indices
Dow Transportation closed at 11386.73 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 148.15. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 25974.99 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 140.18. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction – Neutral. Fractal Bias – Bullish.
Russell 2000 closed at 1727.645 with a “hammer” candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 19.04. Intermediate Cycle is positive and rising. Short Cycle is positive and falling. Market direction: Neutral. Fractal Bias – Bullish.
Nasdaq 100 closed at 7523.26 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 7523.26. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Neutral.
S&P 500 closed at 2888.60 with a high closing doji candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 17.29. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $68.64 per barrel with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 1.03. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.
Gold futures (GC) closed at 1202.3 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 7.8. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Neutral.
Agriculture (DBA) ETF closed at 17.05 with a bearish candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.1. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Bullish. Fractal Bias – Bearish.
Commodities (DBC) ETF closed at 17.21 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.126. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Neutral.
Bonds
Bond futures (/ZB) closed at 143’04 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.6875. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 85.72 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.1385. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze. Fractal Bias – Bearish.
Currency
The dollar index ($DXY) closed at 95.104 with a bearish candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.578. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bearish.
EUR/USD closed at 1.1629 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0094. Intermediate Cycle is positive and rising. Short Cycle is positive and falling. Market direction: Sell. Fractal Bias – Bullish.
USD/JPY closed at 111.51 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.408. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily and Weekly Squeeze. Fractal Bias – Bullish.
6S (Swiss Franc) – closed at 1.0302 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0048. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLI, XLY, XLB, XLE, XLV, XLF and XLU.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLV, XLI, XLP, XLK, XLF and XLY respectively.
Market Internals
Market sentiment is rather Bullish. Market breadth is sloping downward showing more losers than gainers. Volume Accumulation/ Distribution is sloping downward showing distribution. Skew is at 142.22. Vix is at 13.85 and Vix futures is at 14.41.
The Week Ahead
Market internals are showing some weakening. Market sentiment is bullish. Skew is elevated. Vix has risened. The prognosis is for more volatility for this month.
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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5 September 2018 – A pullback and a coiled spring upwards?
Indices
Dow Transportation closed at 11386.73 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 148.15. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 25974.99 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 140.18. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction – Neutral. Fractal Bias – Bullish.
Russell 2000 closed at 1727.645 with a “hammer” candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 19.04. Intermediate Cycle is positive and rising. Short Cycle is positive and falling. Market direction: Neutral. Fractal Bias – Bullish.
Nasdaq 100 closed at 7523.26 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 7523.26. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Neutral.
S&P 500 closed at 2888.60 with a high closing doji candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 17.29. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $68.64 per barrel with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 1.03. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.
Gold futures (GC) closed at 1202.3 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 7.8. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Neutral.
Agriculture (DBA) ETF closed at 17.05 with a bearish candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.1. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Bullish. Fractal Bias – Bearish.
Commodities (DBC) ETF closed at 17.21 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.126. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Neutral.
Bonds
Bond futures (/ZB) closed at 143’04 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.6875. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 85.72 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.1385. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze. Fractal Bias – Bearish.
Currency
The dollar index ($DXY) closed at 95.104 with a bearish candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.578. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bearish.
EUR/USD closed at 1.1629 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0094. Intermediate Cycle is positive and rising. Short Cycle is positive and falling. Market direction: Sell. Fractal Bias – Bullish.
USD/JPY closed at 111.51 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.408. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily and Weekly Squeeze. Fractal Bias – Bullish.
6S (Swiss Franc) – closed at 1.0302 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0048. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLI, XLY, XLB, XLE, XLV, XLF and XLU.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLV, XLI, XLP, XLK, XLF and XLY respectively.
Market Internals
Market sentiment is rather Bullish. Market breadth is sloping downward showing more losers than gainers. Volume Accumulation/ Distribution is sloping downward showing distribution. Skew is at 142.22. Vix is at 13.85 and Vix futures is at 14.41.
The Week Ahead
Market internals are showing some weakening. Market sentiment is bullish. Skew is elevated. Vix has risened. The prognosis is for more volatility for this month.
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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