Indices Dow Transportation closed at 10148.68 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 315.23. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 42.2.
Dow Industrial closed at 26279.91 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 593.72. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and falling. Medium Cycle – negative and rising. Short Cycle – positive and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 44.4.
Russell 2000 closed at 1510.575 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 32.76. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 43.6.
Nasdaq 100 closed at 7728.1515 with a bullish marubozu candle above its 8 EMA, 50 SMA, 200 SMA and below its 21 EMA. Daily trading range – 225.013. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 49.5.
S&P 500(SPX) closed at 2926.32 with a bullish marubozu candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 66.26. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 47.3.
Metals and Commodities WTI Crude oil futures (CL) closed at $56.73 per barrel with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 3.26. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 52.8.
Gold (/GC) closed at 1512.4 with a big bearish spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 57.2. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Weak Upward. RSI – 66.7.
Commodities (DBC) ETF closed at 15.19 with a big bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.394. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 46.8.
Bonds Bond futures (/ZB) closed at 162’13 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.7812. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 72.6.
High Yield bond ETF (HYG) closed at 86.33 with a big bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 0.53. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 47.
Currency The dollar index ($DXY) closed at 97.826 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.53. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 53.9.
EUR/USD closed at 1.1169 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0058. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 47.3.
USD/JPY closed at 106.73 with a big bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.907. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 42.4.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLK, XLP, SPY, SPX, /ES, XLY, XLB, XLV, XLI, XLF and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLK, SPY, /ES, SPX, XLB, XLY, XLI, XLF, XLV and XLE.
Market Internals Market Sentiment – Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 117.58. Vix – 17.52 and Vix Futures – 18.35.
The Week Ahead Market Sentiment remains bearish. Skew is normal. Vix is below 18. Vix Futures is below 19. Although the indices went up, market internals remains weak. News that there was a phone conversation between China and American negotiators sent the market upwards. The prognosis is for continuing volatility and selling pressure to continue.
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.
13 August 2019 – A reversal upwards
Indices
Dow Transportation closed at 10148.68 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 315.23. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 42.2.
Dow Industrial closed at 26279.91 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 593.72. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and falling. Medium Cycle – negative and rising. Short Cycle – positive and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 44.4.
Russell 2000 closed at 1510.575 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 32.76. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 43.6.
Nasdaq 100 closed at 7728.1515 with a bullish marubozu candle above its 8 EMA, 50 SMA, 200 SMA and below its 21 EMA. Daily trading range – 225.013. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 49.5.
S&P 500 (SPX) closed at 2926.32 with a bullish marubozu candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 66.26. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 47.3.
Metals and Commodities
WTI Crude oil futures (CL) closed at $56.73 per barrel with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 3.26. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 52.8.
Gold (/GC) closed at 1512.4 with a big bearish spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 57.2. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Weak Upward. RSI – 66.7.
Commodities (DBC) ETF closed at 15.19 with a big bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.394. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 46.8.
Bonds
Bond futures (/ZB) closed at 162’13 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.7812. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 72.6.
High Yield bond ETF (HYG) closed at 86.33 with a big bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range – 0.53. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 47.
Currency
The dollar index ($DXY) closed at 97.826 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.53. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 53.9.
EUR/USD closed at 1.1169 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0058. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 47.3.
USD/JPY closed at 106.73 with a big bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.907. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 42.4.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLK, XLP, SPY, SPX, /ES, XLY, XLB, XLV, XLI, XLF and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLK, SPY, /ES, SPX, XLB, XLY, XLI, XLF, XLV and XLE.
Market Internals
Market Sentiment – Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 117.58. Vix – 17.52 and Vix Futures – 18.35.
The Week Ahead
Market Sentiment remains bearish. Skew is normal. Vix is below 18. Vix Futures is below 19. Although the indices went up, market internals remains weak. News that there was a phone conversation between China and American negotiators sent the market upwards. The prognosis is for continuing volatility and selling pressure to continue.
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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