26 August 2019 – Indices rise on hope of renewed trade talks
Indices Dow Transportation closed at 9834.72 with a small spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 124.38. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and fall. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 40.3.
Dow Industrial closed at 25898.83 with a harami candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 312.35. 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 – Strong DownTrend. Momentum – Weak Downward. RSI – 44.6.
Russell 2000 closed at 1476.0025 with a bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.855. Fractal Chaos Band – within 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 – 42.2.
Nasdaq 100 closed at 7575.02 with a harami candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 112.772. 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 – Strong DownTrend. Momentum – Strong Downward. RSI – 46.
S&P 500(SPX) closed at 2878.38 with a harami candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 32.16. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 45.1.
Metals and Commodities WTI Crude oil futures (CL) closed at $53.8 per barrel with an “inverted hammer” candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.3. Fractal Chaos Band – on its FCB LowerBand. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 43.3.
Gold (/GC) closed at 1536.9 with a bearish “inverted hammer” candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 30.2. Fractal Chaos Band – crossed below its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 66.9.
Commodities (DBC) ETF closed at 14.80 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.19. Fractal Chaos Band – on its FCB lowerband. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 38.9.
Bonds Bond futures (/ZB) closed at 165’08 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.41. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 68.1.
High Yield bond ETF (HYG) closed at 86.98 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.43. Fractal Chaos Band – above the FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 56.5.
Currency The dollar index ($DXY) closed at 98.042 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.828. 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 – Weak Downward. RSI – 52.7.
EUR/USD closed at 1.1099 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0069. 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 – 43.7.
USD/JPY closed at 106.09 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.96. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 42.9.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLK, XLY, SPY, SPX, XLV, XLI, XLF, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLK, SPY, /ES, XLY, SPX, XLI, XLB, 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 – 113.07. Vix – 19.32 and Vix Futures – 19.50.
The Week Ahead Market Sentiment is slightly bullish. Skew is low. Vix is below 20. Vix Futures is below 20. Market internals are showing weakness in the market. The indices are very news driven right now with competing news regarding trade. The prognosis is for a volatile market to continue and with selling pressure.
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.
26 August 2019 – Indices rise on hope of renewed trade talks
Indices
Dow Transportation closed at 9834.72 with a small spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 124.38. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and fall. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 40.3.
Dow Industrial closed at 25898.83 with a harami candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 312.35. 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 – Strong DownTrend. Momentum – Weak Downward. RSI – 44.6.
Russell 2000 closed at 1476.0025 with a bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.855. Fractal Chaos Band – within 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 – 42.2.
Nasdaq 100 closed at 7575.02 with a harami candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 112.772. 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 – Strong DownTrend. Momentum – Strong Downward. RSI – 46.
S&P 500 (SPX) closed at 2878.38 with a harami candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 32.16. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 45.1.
Metals and Commodities
WTI Crude oil futures (CL) closed at $53.8 per barrel with an “inverted hammer” candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.3. Fractal Chaos Band – on its FCB LowerBand. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 43.3.
Gold (/GC) closed at 1536.9 with a bearish “inverted hammer” candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 30.2. Fractal Chaos Band – crossed below its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 66.9.
Commodities (DBC) ETF closed at 14.80 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.19. Fractal Chaos Band – on its FCB lowerband. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 38.9.
Bonds
Bond futures (/ZB) closed at 165’08 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2.41. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 68.1.
High Yield bond ETF (HYG) closed at 86.98 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.43. Fractal Chaos Band – above the FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 56.5.
Currency
The dollar index ($DXY) closed at 98.042 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.828. 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 – Weak Downward. RSI – 52.7.
EUR/USD closed at 1.1099 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0069. 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 – 43.7.
USD/JPY closed at 106.09 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.96. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and rising. Market direction – Weak DownTrend. Momentum – Neutral. RSI – 42.9.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, /ES, XLK, XLY, SPY, SPX, XLV, XLI, XLF, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLK, SPY, /ES, XLY, SPX, XLI, XLB, 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 – 113.07. Vix – 19.32 and Vix Futures – 19.50.
The Week Ahead
Market Sentiment is slightly bullish. Skew is low. Vix is below 20. Vix Futures is below 20. Market internals are showing weakness in the market. The indices are very news driven right now with competing news regarding trade. The prognosis is for a volatile market to continue and with selling pressure.
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.
Share this:
Related