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15 October 2019 – Indices gather strength, bond flops

Indices
Dow Transportation closed at 10386.29 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 177.41. Fractal Chaos Band – closed above its FCB. 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 – 55.5.

Dow Industrial closed at 27024.80 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 332.75. 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 – 57.7.

Russell 2000 closed at 1523.3016 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 8 EMA. Daily trading range – 22.987. Fractal Chaos Band – above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 52.7.

Nasdaq 100 closed at 7942.8509 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 117.804. 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 – 59.8.

S&P 500 (SPX) closed at 2966.15 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 9.9. Fractal Chaos Band – Above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 52.7.

Metals and Commodities
WTI Crude oil futures (CL) closed at $52.91 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.4. 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 – Strong Upward. RSI – 42.

Gold (/GC) closed at 1487.3 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 22.2. 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 – 43.6.

Commodities (DBC) ETF closed at 15.18 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.115. 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 – Strong Upward. RSI – 51.5.

Bonds
Bond futures (/ZB) closed at 159’27 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 2. Fractal Chaos Band – Broke 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 – 42.

High Yield bond ETF (HYG) closed at 87.02 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.27. Fractal Chaos Band – above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 54.8.

Currency
The dollar index ($DXY) closed at 98.308 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.436. Fractal Chaos Band – within its FCB. 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 – 44.5.


EUR/USD closed at 1.1031 with a small doji candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range – 0.0054. Fractal Chaos Band – within its FCB. 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 – 54.1.

USD/JPY closed at 108.84 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. 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 – 62.1.

Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, SPX, XLV, /ES, SPY, XLF, XLY, XLU, XLI, XLP, XLB and XLE.

On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, SPX, SPY, /ES, XLY, XLF, XLU, XLP, XLI, 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 – 127.17. Vix – 13.54 and Vix Futures – 17.26.   

The Week Ahead 
The market has resolved itself to a bullish sentiment. The indices pushed up strongly and US 30 year Treasury bond sold off. Market internals are pointing to strength. Vix has decreased to below 14 and Vix futures are below 18 indicating potential for rise in volatility. Skew is normal. The prognosis is for a bullish equity market.

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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