16 July 2019 – Is Tranportation leading the market up?
Indices Dow Transportation closed at 10794.59 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range 275.35. Fractal Chaos Band – Above 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 – 64.9.
Dow Industrial closed at 27335.63 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 108.44. Fractal Chaos Band – Above its FCB. Long Cycle Wave – positive and rising. Medium Cycle – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 73.5.
Russell 2000 closed at 1561.9951 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 11.38. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle – negative and falling. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 54.3.
Nasdaq 100 closed at 7927.0771 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 61.98. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 65.6.
S&P 500(SPX) closed at 3004.04 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 13.87. Fractal Chaos Band – above the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 66.7.
Metals and Commodities WTI Crude oil futures (CL) closed at $57.48 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.99. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 48.8.
Gold (/GC) closed at 1407.6 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 17.9. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 57.6.
Commodities (DBC) ETF closed at 15.72 with a big bearish candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range – 0.345. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 50.8.
Bonds Bond futures (/ZB) closed at 153’31 with a hammer candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 1.094. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 48.5.
High Yield bond ETF (HYG) closed at 86.81 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.26. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 51.
Currency The dollar index ($DXY) closed at 97.375 with a big bullish candle and above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.523. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 56.2.
EUR/USD closed at 1.1209 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0061. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 42.4.
USD/JPY closed at 108.22 with a bullish candle on its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.561. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 48.4.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY and XLB.
On a 6-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 is XLK, XLY, XLU, XLP and XLI.
Market Internals Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downwards and showing distribution. Skew -125.15. Vix – 12.86 and Vix Futures – 15.32.
The Week Ahead Market Sentiment remains bullish. Market internals are giving mixed signals. Skew is normal. Vix is below 13 and Vix Futures is below 16. Vix futures is anticipating increased volatility. Even as the other indices pulled back, Dow Transportation is bucking the trend with its bullishness. The prognosis is for increased in volatility.
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.
16 July 2019 – Is Tranportation leading the market up?
Indices
Dow Transportation closed at 10794.59 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range 275.35. Fractal Chaos Band – Above 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 – 64.9.
Dow Industrial closed at 27335.63 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 108.44. Fractal Chaos Band – Above its FCB. Long Cycle Wave – positive and rising. Medium Cycle – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 73.5.
Russell 2000 closed at 1561.9951 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 11.38. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle – negative and falling. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 54.3.
Nasdaq 100 closed at 7927.0771 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 61.98. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 65.6.
S&P 500 (SPX) closed at 3004.04 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 13.87. Fractal Chaos Band – above the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 66.7.
Metals and Commodities
WTI Crude oil futures (CL) closed at $57.48 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.99. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 48.8.
Gold (/GC) closed at 1407.6 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 17.9. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 57.6.
Commodities (DBC) ETF closed at 15.72 with a big bearish candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range – 0.345. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 50.8.
Bonds
Bond futures (/ZB) closed at 153’31 with a hammer candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 1.094. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 48.5.
High Yield bond ETF (HYG) closed at 86.81 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.26. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 51.
Currency
The dollar index ($DXY) closed at 97.375 with a big bullish candle and above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.523. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 56.2.
EUR/USD closed at 1.1209 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0061. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 42.4.
USD/JPY closed at 108.22 with a bullish candle on its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.561. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 48.4.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY and XLB.
On a 6-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 is XLK, XLY, XLU, XLP and XLI.
Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downwards and showing distribution. Skew -125.15. Vix – 12.86 and Vix Futures – 15.32.
The Week Ahead
Market Sentiment remains bullish. Market internals are giving mixed signals. Skew is normal. Vix is below 13 and Vix Futures is below 16. Vix futures is anticipating increased volatility. Even as the other indices pulled back, Dow Transportation is bucking the trend with its bullishness. The prognosis is for increased in volatility.
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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