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19 June 2019 – A breakout upwards in the indices!

Indices
Dow Transportation closed at 10341.63 with a doji candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. It is within its Fractal Chaos Band. Daily trading range was 83.95. Long Cycle is negative and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Up Trend. RSI is 52.7.

Dow Industrial closed at 26504.00 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. It has broken out above its Fractal Chaos Band. Daily trading range was 154.7. Long Cycle is positive and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Strong Up Trend. Momentum – Strong Up. RSI is 65.9.

Russell 2000 closed at 1555.58 with a small bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. It has broken out above its Fractal Chaos Band. Daily trading range was 8.864. Long Cycle is negative and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Strong UpTrend. Momentum – Strong Upward. RSI is 58.5.

Nasdaq 100 closed at 7667.74 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. It is above the Fractal Chaos Band. Daily trading range was 75.278. Long Cycle is negative and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI is 62.4.

S&P 500 (SPX) closed at 2926.46 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200SMA. It is above the Fractal Chaos Band. Daily trading range was 20.31. Long Cycle is positive and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI is 64.5.   

Metals and Commodities
WTI Crude oil futures (CL) closed at $54.38 per barrel with a doji candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. It closed within the Fractal Chaos Band. Daily trading range was 1.15. Long Cycle is negative and rising slope. Medium Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction – Weak DownTrend. Momentum – Strong Upward. RSI is 45.3.

Gold (/GC) closed at 1364.3 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. It is above its Fractal Chaos Band. Daily trading range was 21.8. Long Cycle is positive and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong upward. RSI is 79.6.

Commodities (DBC) ETF closed at 15.35 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.145. It is within is Fractal Chaos Band. Long Cycle is negative and rising slope. Medium Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Up Trend. Momentum – Strong Upward. RSI is 47.8.    

Bonds
Bond futures (/ZB) closed at 155’13 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.25. It is above its Fractal Chaos Band. Long Cycle is positive and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Strong UpTrend. RSI is 72.9.

High Yield bond ETF (HYG) gapped up and closed at 87.17 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.64. It is above its Fractal Chaos Band. Long Cycle is positive and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Strong UpTrend. Momentum – Strong Upward. RSI is 66.1. 

Currency
The dollar index ($DXY) closed at 97.222 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.3219. It is within its Fractal Chaos Band. Long Cycle is negative and rising slope. Medium Cycle is negative and rising slope. Short Cycle is positive and falling slope. Market direction – Strong Downward. Momentum – Strong upwards. RSI is 43.    

EUR/USD closed at 1.1193 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0061. It is has broken out below its Fractal Chaos Band. Long Cycle is positive and falling slope. Medium Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Strong DownTrend. Momentum – Strong Downward. RSI is 54.6.

USD/JPY closed at 108.09 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.716. It is within its Fractal Chaos Band. Long Cycle is negative and rising slope. Medium Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction – Strong DownTrend. Momentum – Weak Upwards. RSI is 28.9. 

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

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

Market Internals
Market Sentiment is bullish. Market Breadth is sloping upward showing more gainers to losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 115.93. Vix is at 14.33 and Vix Futures is at 15.85.   

The Week Ahead 
The indices, Gold, bonds broke upwards. The dollar index is down. Market Sentiment is bullish and market internals continues to signal bullishness. Skew is normal. Vix is below 15 and Vix futures is below 16. The prognosis is for continuing strength and upward trend in the indices.

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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