Indices
Dow Transportation closed at 11512.02 with an inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 100.84. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 25998.92 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 216.29. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction – Neutral. Fractal Bias – Neutral.
Russell 2000 closed at 1715.6965 with a hammer candle below its 8 EMA and on its 21 EMA and above its 50 SMA. Daily trading range was 14.875. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Sell. Fractal Bias – Bullish.
Nasdaq 100 closed at 7488.0646 with a hammer candle intertwined with its its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 84.96. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bullish.
S&P 500 closed at 2888.92 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 15.45. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $70.3 per barrel with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.76. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Gold futures (GC) closed at 1211.6 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 16.3. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.
Agriculture (DBA) ETF closed at 17.16 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.21. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Bullish. Fractal Bias – Bullish.
Commodities (DBC) ETF closed at 17.50 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.16. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Bonds
Bond futures (/ZB) closed at 142’08 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.375. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 86.09 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.26. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Bullish. It is in a weekly Squeeze. Fractal Bias – Bearish.
Currency
The dollar index ($DXY) closed at 94.809 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.55. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
EUR/USD closed at 1.1625 with a spinning top doji candle above its 8 EMA, 50 SMA and 21 EMA. Daily trading range was 0.0079. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bearish.
USD/JPY closed at 111.24 with a bearish candle on its 8 EMA and 50 SMA and above 21 EMA. Daily trading range was 0.536. Intermediate Cycle is positive and flat. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily and Weekly Squeeze. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0306 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0057. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Sell. 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, XLV and XLP.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLU, XLI, XLP, XLY and XLK respectively.
Market Internals
Market sentiment is rather Bullish. Market breadth is sloping downward showing more losers than gainers. Volume Accumulation/ Distribution is sloping upward showing accumulation. Skew is at 148.75. Vix is at 13.14 and Vix futures is at 14.15.
The Week Ahead
Market internals are giving mixed message. Vix has remained at the same level as the indices trend sideways. Skew is rather elevated. Market sentiment remains bullish. The prognosis is for a slow grind upwards.
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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12 September 2018 – A slow grind upwards
Indices
Dow Transportation closed at 11512.02 with an inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 100.84. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.
Dow Industrial closed at 25998.92 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 216.29. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction – Neutral. Fractal Bias – Neutral.
Russell 2000 closed at 1715.6965 with a hammer candle below its 8 EMA and on its 21 EMA and above its 50 SMA. Daily trading range was 14.875. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Sell. Fractal Bias – Bullish.
Nasdaq 100 closed at 7488.0646 with a hammer candle intertwined with its its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 84.96. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Bullish.
S&P 500 closed at 2888.92 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 15.45. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Bullish.
Metals and Commodities
WTI Crude oil futures (CL) closed at $70.3 per barrel with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.76. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Gold futures (GC) closed at 1211.6 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 16.3. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.
Agriculture (DBA) ETF closed at 17.16 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.21. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Bullish. Fractal Bias – Bullish.
Commodities (DBC) ETF closed at 17.50 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.16. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.
Bonds
Bond futures (/ZB) closed at 142’08 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.375. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
High Yield bond ETF (HYG) closed at 86.09 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.26. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Bullish. It is in a weekly Squeeze. Fractal Bias – Bearish.
Currency
The dollar index ($DXY) closed at 94.809 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.55. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.
EUR/USD closed at 1.1625 with a spinning top doji candle above its 8 EMA, 50 SMA and 21 EMA. Daily trading range was 0.0079. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bearish.
USD/JPY closed at 111.24 with a bearish candle on its 8 EMA and 50 SMA and above 21 EMA. Daily trading range was 0.536. Intermediate Cycle is positive and flat. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily and Weekly Squeeze. Fractal Bias – Bearish.
6S (Swiss Franc) – closed at 1.0306 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0057. Intermediate Cycle is positive and falling. Short Cycle is positive and falling. Market direction: Sell. 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, XLV and XLP.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLU, XLI, XLP, XLY and XLK respectively.
Market Internals
Market sentiment is rather Bullish. Market breadth is sloping downward showing more losers than gainers. Volume Accumulation/ Distribution is sloping upward showing accumulation. Skew is at 148.75. Vix is at 13.14 and Vix futures is at 14.15.
The Week Ahead
Market internals are giving mixed message. Vix has remained at the same level as the indices trend sideways. Skew is rather elevated. Market sentiment remains bullish. The prognosis is for a slow grind upwards.
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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