10 September 2019 – Indices poised to break out to new highs
Indices Dow Transportation closed at 10672.12 with a big bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 207.05. Fractal Chaos Band – Closed 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 – 62.8.
Dow Industrial closed at 26909.43 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 192.38. 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 – 59.6.
Russell 2000 closed at 1542.9887 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 27.0705. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 58.1.
Nasdaq 100 gapped down and closed at 7814.7423 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 88.7884. Fractal Chaos Band – closed 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 – 55.3.
S&P 500(SPX) gapped down and closed at 2979.39 with a small bullish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 22.38. 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 – 58.4.
Metals and Commodities WTI Crude oil futures (CL) closed at $57.87 per barrel with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.56. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 57.6.
Gold (/GC) closed at 1493.8 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 17. Fractal Chaos Band – below its FCB lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 47.5.
Commodities (DBC) ETF closed at 15.28 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.14. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 57.1.
Bonds Bond futures (/ZB) closed at 160’27 with a big bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 2.5. Fractal Chaos Band – Below its FCB Lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 42.9.
High Yield bond ETF (HYG) closed at 87.28 with a high closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.21. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 58.2.
Currency The dollar index ($DXY) closed at 98.324 with a small doji candle on its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.204. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 54.
EUR/USD closed at 1.1042 with a doji candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0029. 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 – Weak DownTrend. Momentum – Strong Upward. RSI – 44.
USD/JPY closed at 107.51 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.4009. Fractal Chaos Band – above its 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 – 59.3.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, XLY, SPY, XLP, /ES, SPX, XLF, XLU, XLK, XLE, XLB and XLV.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, XLY, SPY, SPX, XLP, /ES, XLK, XLU, XLF, XLB, XLV and XLE.
Market Internals Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 119.01. Vix – 15.20 and Vix Futures – 16.45.
The Week Ahead Market internals continue to show strength which is good for equities. Skew is normal. Vix and Vix futures are below 16 and 17 respectively. Bond futures continue to pullback. The prognosis is for continued rise in the indices.
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.
10 September 2019 – Indices poised to break out to new highs
Indices
Dow Transportation closed at 10672.12 with a big bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 207.05. Fractal Chaos Band – Closed 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 – 62.8.
Dow Industrial closed at 26909.43 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 192.38. 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 – 59.6.
Russell 2000 closed at 1542.9887 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 27.0705. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 58.1.
Nasdaq 100 gapped down and closed at 7814.7423 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 88.7884. Fractal Chaos Band – closed 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 – 55.3.
S&P 500 (SPX) gapped down and closed at 2979.39 with a small bullish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 22.38. 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 – 58.4.
Metals and Commodities
WTI Crude oil futures (CL) closed at $57.87 per barrel with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.56. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 57.6.
Gold (/GC) closed at 1493.8 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 17. Fractal Chaos Band – below its FCB lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 47.5.
Commodities (DBC) ETF closed at 15.28 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.14. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 57.1.
Bonds
Bond futures (/ZB) closed at 160’27 with a big bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 2.5. Fractal Chaos Band – Below its FCB Lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 42.9.
High Yield bond ETF (HYG) closed at 87.28 with a high closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.21. Fractal Chaos Band – within the FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 58.2.
Currency
The dollar index ($DXY) closed at 98.324 with a small doji candle on its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.204. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak UpTrend. Momentum – Strong Downward. RSI – 54.
EUR/USD closed at 1.1042 with a doji candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0029. 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 – Weak DownTrend. Momentum – Strong Upward. RSI – 44.
USD/JPY closed at 107.51 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.4009. Fractal Chaos Band – above its 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 – 59.3.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, XLY, SPY, XLP, /ES, SPX, XLF, XLU, XLK, XLE, XLB and XLV.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, XLY, SPY, SPX, XLP, /ES, XLK, XLU, XLF, XLB, XLV and XLE.
Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 119.01. Vix – 15.20 and Vix Futures – 16.45.
The Week Ahead
Market internals continue to show strength which is good for equities. Skew is normal. Vix and Vix futures are below 16 and 17 respectively. Bond futures continue to pullback. The prognosis is for continued rise in the indices.
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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