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15 August 2019 – Confusing news, Confused market

Indices
Dow Transportation closed at 9764.49 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 175.08. Fractal Chaos Band – Closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 33.7.

Dow Industrial closed at 25579.39 with a small ‘hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 300.09. 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 – 36.0.

Russell 2000 closed at 1461.648 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 14.66. Fractal Chaos Band – below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 35.2.

Nasdaq 100 closed at 7484.888 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 94.136. Fractal Chaos Band – closed 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 – 40.7.

S&P 500 (SPX) closed at 2847.60 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 31.16. 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 – 38.6.

Metals and Commodities
WTI Crude oil futures (CL) closed at $54.95 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.88. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Weak DownTrend. Momentum – Weak Downward. RSI – 47.3.

Gold (/GC) closed at 1533.9 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 19.4. 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 – Weak UpTrend. Momentum – Strong Upward. RSI – 71.3.

Commodities (DBC) ETF closed at 14.84 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.155. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 38.6.

Bonds
Bond futures (/ZB) closed at 165’27 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.406. Fractal Chaos Band – Above its FCB Upperband. 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 – 76.2.

High Yield bond ETF (HYG) closed at 85.81 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMa. Daily trading range – 0.34. 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 – 41.9.

Currency
The dollar index ($DXY) closed at 98.153 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.415. 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 – 59.1.


EUR/USD closed at 1.1136 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.006. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Strong UpTrend. Momentum – Strong Downward. RSI – 44.

USD/JPY closed at 106.10 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.071. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Weak 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, XLP, /ES, XLK, XLV, SPY, XLY, SPX, XLI, XLB, XLF and XLE.

On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLK, SPY, SPX, XLY, XLB, XLI, XLF, XLV and XLE.  

Market Internals
Market Sentiment – Bearish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 112.52. Vix – 21.18 and Vix Futures – 20.50.   

The Week Ahead 
Market Sentiment remains bearish. Skew is low. Vix is below 22. Vix Futures is below 21. Market internals remains weak. The indices continued its downtrend. Bond and Gold continued its upTrend. The prognosis is for continuing Selling pressure. The indices will continue to remain volatile. .

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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