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22 October 2018 – Are the Indices bottoming?

Indices
Dow Transportation closed at 10435.76 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 142.54. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell. Fractal Bias – Bearish.

Dow Industrial closed at 25317.41 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 325.29. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. Fractal Bias – Bearish.

Russell 2000 closed at 1539.5014 with a low closing spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 15.58. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.

Nasdaq 100 closed at 7141.2127 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 104.82. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Bearish.

S&P 500 closed at 2755.88 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 29.72. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $69.52 per barrel with a doji candle below its 8 EMA, 21 EMA and 50 SMA and above its 200 SMA. Daily trading range was 1.38. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

Gold futures (GC) closed at 1224.9 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 9.8. Intermediate Cycle is positive and rising. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Bullish.

Agriculture (DBA) ETF closed at 17.62 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA and below its 200 SMA. Daily trading range was 0.12. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. Fractal Bias – Bullish.

Commodities (DBC) ETF closed at 17.77 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.14. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Neutral. Fractal Bias – Bearish.

Bonds
Bond futures (/ZB) closed at 137’22 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.5937. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias – Bullish. It is OverSold.

High Yield bond ETF (HYG) closed at 84.94 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.28. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. Fractal Bias- Bearish.

Currency
The dollar index ($DXY) closed at 96.023 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.623. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish. It is in a Weekly Squeeze.

EUR/USD closed at 1.1463 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0093. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. Fractal Bias – Bearish.

USD/JPY closed at 112.81 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.538. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bearish.

6S (Swiss Franc) – closed at 1.0089 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.004. Intermediate Cycle is negative and falling. Short Cycle is negative and rising. Market direction: Sell. Fractal Bias – Bearish.

Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLP, XLK and XLV.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLP, XLK and XLV respectively.

Market Internals
Market Sentiment is bullish. Market Breadth continues to slope downwards showing more losers than gainers. Volume Accumulation/Distribution is sloping downwards which means the market is in distribution. Vix is at 19.64. Vix futures is at 18.85. Skew is at 125.68.

The Week Ahead
Market internals are telling us that the number of losers to gainers are still in favour of the loser. Volume Acc/Dist confirms that it is in distribution mode. Market sentiment has turned bullish. Vix and Vix futures are in backwardation which means the market is expecting to be less volatile in the short term. The prognosis is for the market to reverse 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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