17 September 2019 – Oil tumbles, a crack in the market?
Indices Dow Transportation closed at 10705.65 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 95.18. 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 – 60.9.
Dow Industrial gapped down and closed at 27110.80 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 126.66. 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 – 60.8.
Russell 2000 closed at 1578.29 with a bearish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 15.18. 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 – 62.8.
Nasdaq 100 closed at 7888.7863 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 50.22. 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 – 57.4.
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 – 60.9.
Metals and Commodities WTI Crude oil futures (CL) closed at $58.63 per barrel with a huge bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 4.13. Fractal Chaos Band – crossed below its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 56.2.
Gold (/GC) closed at 1509 with a tiny candle intertwined with its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 14.1. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and flat. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 50.7.
Commodities (DBC) ETF closed at 15.48 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.37. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 58.1.
Bonds Bond futures (/ZB) closed at 159’20 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.25. Fractal Chaos Band – Within its FCB Lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 40.7.
High Yield bond ETF (HYG) closed at 87.52 with a high closing doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.19. Fractal Chaos Band – crossed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.2.
Currency The dollar index ($DXY) closed at 98.211 with a big bearish marubozu candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.5559. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 51.3.
EUR/USD closed at 1.1070 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.0084. 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 UpTrend. Momentum – Strong Upward. RSI – 49.6.
USD/JPY closed at 108.10 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.3479. 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 – 64.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, SPY, XLU, /ES, XLF, SPX, XLB, XLY, XLK, XLP, XLE and XLV.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are SPY, XLI, SPX, /ES, XLU, XLF, XLK, XLY, XLB, XLP, XLV and XLE.
Market Internals Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 117.94. Vix – 14.44 and Vix Futures – 17.20.
The Week Ahead Market Volume is showing distribution while market Breadth continues to show nett gainers. Skew is normal. Vix is below 15 while Vix futures has increased to be below 18. Vix futures is pricing in volatility. Oil has reversed downward. High Yield bond continues to trend upwards. The prognosis is for competing buying and selling pressure in the indices and hence volatility can be expected.
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.
17 September 2019 – Oil tumbles, a crack in the market?
Indices
Dow Transportation closed at 10705.65 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 95.18. 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 – 60.9.
Dow Industrial gapped down and closed at 27110.80 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 126.66. 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 – 60.8.
Russell 2000 closed at 1578.29 with a bearish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 15.18. 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 – 62.8.
Nasdaq 100 closed at 7888.7863 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 50.22. 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 – 57.4.
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 – 60.9.
Metals and Commodities
WTI Crude oil futures (CL) closed at $58.63 per barrel with a huge bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 4.13. Fractal Chaos Band – crossed below its FCB Upperband. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 56.2.
Gold (/GC) closed at 1509 with a tiny candle intertwined with its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 14.1. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and flat. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 50.7.
Commodities (DBC) ETF closed at 15.48 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.37. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 58.1.
Bonds
Bond futures (/ZB) closed at 159’20 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.25. Fractal Chaos Band – Within its FCB Lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 40.7.
High Yield bond ETF (HYG) closed at 87.52 with a high closing doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.19. Fractal Chaos Band – crossed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.2.
Currency
The dollar index ($DXY) closed at 98.211 with a big bearish marubozu candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range – 0.5559. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and rising. Short Cycle Wave – negative and falling. Market direction – Weak DownTrend. Momentum – Strong Downward. RSI – 51.3.
EUR/USD closed at 1.1070 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.0084. 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 UpTrend. Momentum – Strong Upward. RSI – 49.6.
USD/JPY closed at 108.10 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.3479. 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 – 64.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, SPY, XLU, /ES, XLF, SPX, XLB, XLY, XLK, XLP, XLE and XLV.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are SPY, XLI, SPX, /ES, XLU, XLF, XLK, XLY, XLB, XLP, XLV and XLE.
Market Internals
Market Sentiment – Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 117.94. Vix – 14.44 and Vix Futures – 17.20.
The Week Ahead
Market Volume is showing distribution while market Breadth continues to show nett gainers. Skew is normal. Vix is below 15 while Vix futures has increased to be below 18. Vix futures is pricing in volatility. Oil has reversed downward. High Yield bond continues to trend upwards. The prognosis is for competing buying and selling pressure in the indices and hence volatility can be expected.
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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