Indices Dow Transportation closed at 10416.13 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 106.44. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak upward. RSI – 53.3.
Dow Industrial closed at 26806.14 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 177.25. Fractal Chaos Band – Within its FCB. Long Cycle – positive and rising. Medium Cycle – positive and falling. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 64.
Russell 2000 closed at 1561.3866 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.6. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 55.4.
Nasdaq 100 closed at 7785.7867 with a tiny bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 85.192. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 61.3.
S&P 500(SPX) closed at 2975.95 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 20.32. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 64.3.
Metals and Commodities WTI Crude oil futures (CL) closed at $57.57 per barrel with a small candle candle intertwined amongst its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.16. Fractal Chaos Band – within the FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – UpTrend. Momentum – Neutral. RSI – 51.5.
Gold (/GC) closed at 1397.6 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.13. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Downwards. RSI – 57.9.
Commodities (DBC) ETF closed at 15.62 with a bearish inverted hammer candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range – 0.145. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and flat. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – UpTrend. Momentum – Neutral. RSI – 51.3.
Bonds Bond futures (/ZB) closed at 156’04 with a small inverted hammer candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.75. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – UpTrend. Momentum – Downward. RSI – 56.4.
High Yield bond ETF (HYG) closed at 87.34 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.38. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 58.2.
Currency The dollar index ($DXY) closed at 97.364 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.256. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 58.2.
EUR/USD closed at 1.1211 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0027. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – DownTrend. Momentum – downward. RSI – 41.2.
USD/JPY closed at 108.71 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.524. Fractal Chaos Band – above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 57.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLY, XLP and XLK.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLY, XLP and XLK respectively.
Market Internals Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downwards and showing distribution. Skew -121.42. Vix – 13.96 and Vix Futures – 15.05.
The Week Ahead Market Sentiment remains bullish. The indices are pulling back although it is still on an uptrend in the higher timeframe. Skew is normal. Vix is below 14 and Vix Futures is below 16. Market Internals are showing strength. The prognosis is for a short pullback.
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.
8 July 2019 – Indices pulled back, profit taking
Indices
Dow Transportation closed at 10416.13 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 106.44. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak upward. RSI – 53.3.
Dow Industrial closed at 26806.14 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 177.25. Fractal Chaos Band – Within its FCB. Long Cycle – positive and rising. Medium Cycle – positive and falling. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 64.
Russell 2000 closed at 1561.3866 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.6. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 55.4.
Nasdaq 100 closed at 7785.7867 with a tiny bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 85.192. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 61.3.
S&P 500 (SPX) closed at 2975.95 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 20.32. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 64.3.
Metals and Commodities
WTI Crude oil futures (CL) closed at $57.57 per barrel with a small candle candle intertwined amongst its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.16. Fractal Chaos Band – within the FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – UpTrend. Momentum – Neutral. RSI – 51.5.
Gold (/GC) closed at 1397.6 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.13. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Downwards. RSI – 57.9.
Commodities (DBC) ETF closed at 15.62 with a bearish inverted hammer candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range – 0.145. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and flat. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – UpTrend. Momentum – Neutral. RSI – 51.3.
Bonds
Bond futures (/ZB) closed at 156’04 with a small inverted hammer candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.75. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – UpTrend. Momentum – Downward. RSI – 56.4.
High Yield bond ETF (HYG) closed at 87.34 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.38. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 58.2.
Currency
The dollar index ($DXY) closed at 97.364 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.256. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 58.2.
EUR/USD closed at 1.1211 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0027. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – DownTrend. Momentum – downward. RSI – 41.2.
USD/JPY closed at 108.71 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.524. Fractal Chaos Band – above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – UpTrend. Momentum – Upward. RSI – 57.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLY, XLP and XLK.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLY, XLP and XLK respectively.
Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downwards and showing distribution. Skew -121.42. Vix – 13.96 and Vix Futures – 15.05.
The Week Ahead
Market Sentiment remains bullish. The indices are pulling back although it is still on an uptrend in the higher timeframe. Skew is normal. Vix is below 14 and Vix Futures is below 16. Market Internals are showing strength. The prognosis is for a short pullback.
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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