16 September 2019 – Oil rockets, market grinds up!
Indices Dow Transportation gapped down and closed at 10730.28 with a bullish spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 164.1. 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 – 61.8.
Dow Industrial gapped down and closed at 27076.82 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 186.96. 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 – 60.3.
Russell 2000 closed at 1584.597 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 19.93. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 64.8.
Nasdaq 100 gapped down and closed at 7852.4124 with a small candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 61.19. 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 – Strong UpTrend. Momentum – Strong Upward. RSI – 55.6.
S&P 500(SPX) gapped down and closed at 2997.96 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.72. 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 – Weak UpTrend. Momentum – Strong Upward. RSI – 59.7.
Metals and Commodities WTI Crude oil futures (CL) closed at $61.88 per barrel with a huge spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 8.56. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 66.3.
Gold (/GC) closed at 1505.9 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 24. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 49.9.
Commodities (DBC) ETF gapped up and closed at 15.78 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.84. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 67.8.
Bonds Bond futures (/ZB) closed at 158’25 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.7812. Fractal Chaos Band – Below its FCB Lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 39.7.
High Yield bond ETF (HYG) closed at 87.47 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.32. Fractal Chaos Band – crossed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.2.
Currency The dollar index ($DXY) closed at 98.644 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.854. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 55.2.
EUR/USD closed at 1.1 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0092. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 42.2.
USD/JPY closed at 108.08 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.743. 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 – 63.4.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, SPY, XLF, /ES, SPX, XLE, XLU, XLK, XLY, XLB, XLP and XLV.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, SPY, /ES, SPX, XLF, XLK, XLU, XLY, XLB, XLP, 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 – 119.16. Vix – 14.67 and Vix Futures – 14.70.
The Week Ahead Market internals continue to show bullishness. Skew is normal. Vix and Vix futures are below 15. Oil spiked due to events in Saudi Arabia and impacted their production level. High Yield bond continues to trend upwards. The prognosis is for continuing buying pressure on Oil and also for the indices to continue to trend upward.
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 September 2019 – Oil rockets, market grinds up!
Indices
Dow Transportation gapped down and closed at 10730.28 with a bullish spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 164.1. 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 – 61.8.
Dow Industrial gapped down and closed at 27076.82 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 186.96. 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 – 60.3.
Russell 2000 closed at 1584.597 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 19.93. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 64.8.
Nasdaq 100 gapped down and closed at 7852.4124 with a small candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 61.19. 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 – Strong UpTrend. Momentum – Strong Upward. RSI – 55.6.
S&P 500 (SPX) gapped down and closed at 2997.96 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 16.72. 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 – Weak UpTrend. Momentum – Strong Upward. RSI – 59.7.
Metals and Commodities
WTI Crude oil futures (CL) closed at $61.88 per barrel with a huge spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 8.56. Fractal Chaos Band – above its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 66.3.
Gold (/GC) closed at 1505.9 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 24. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 49.9.
Commodities (DBC) ETF gapped up and closed at 15.78 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.84. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 67.8.
Bonds
Bond futures (/ZB) closed at 158’25 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.7812. Fractal Chaos Band – Below its FCB Lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 39.7.
High Yield bond ETF (HYG) closed at 87.47 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.32. Fractal Chaos Band – crossed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.2.
Currency
The dollar index ($DXY) closed at 98.644 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.854. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and rising. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 55.2.
EUR/USD closed at 1.1 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0092. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 42.2.
USD/JPY closed at 108.08 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.743. 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 – 63.4.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, SPY, XLF, /ES, SPX, XLE, XLU, XLK, XLY, XLB, XLP and XLV.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, SPY, /ES, SPX, XLF, XLK, XLU, XLY, XLB, XLP, 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 – 119.16. Vix – 14.67 and Vix Futures – 14.70.
The Week Ahead
Market internals continue to show bullishness. Skew is normal. Vix and Vix futures are below 15. Oil spiked due to events in Saudi Arabia and impacted their production level. High Yield bond continues to trend upwards. The prognosis is for continuing buying pressure on Oil and also for the indices to continue to trend upward.
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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