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18 October 2019 – Weekly Review – Indices dumped with bond


Indices (Weekly chart)
Dow Transportation closed at 10508.74 with a bullish candle above its 200 SMA and intertwined with its 8 EMA, 21 EMA, 50 SMA. Weekly trading range – 365.73. 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 – Strong UpTrend. Momentum – Strong Upward. RSI – 52.5. The index is in a weekly and monthly Squeeze.    

Dow Industrial closed at 26770.20 with a gravestone doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 370.93. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Weak Downward. It is in a weakly and monthly Squeeze. RSI – 54.1.

Russell 2000 closed at 1535.4822 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 42.683. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – negative and rising slope. Short Cycle Wave – negative and rising slope. Market direction – Strong UpTrend. Momentum – Weak Downward. RSI – 50.6.       

Nasdaq 100 closed at 7868.4908 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 153.99. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 57.1.

S&P 500 closed at 2986.20 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 45.35. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 56.8.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $53.85 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and and above its 200 SMA. Weekly trading range was 2.52. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and falling slope. Short cycle – negative and falling slope. Market direction:- Strong DownTrend. Momentum – Strong Downwards. RSI – 44.8.

Gold futures (GC) closed at 1493.4 with a small doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 22.4. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short cycle – negative and falling slope. Market direction:- Weak UpTrend. Momentum – Strong Downward. RSI – 63.6.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 160’04 with a small bearish candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Weekly trading range was 2.4375. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short cycle – negative and falling. Market direction:- Neutral. Momentum – Strong Downward. RSI – 55.7.         

High Yield bond ETF (HYG) closed at 87.09 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Weekly trading range – 0.44. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Neutral. RSI – 55.4.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 97.141 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Weekly trading range – 1.5039. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and falling slope. Short cycle – negative and falling slope. Market direction:- Strong DownTrend. Momentum – Strong Downward. RSI – 47.2.

EUR/USD closed at 1.1172 with a big bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Weekly trading range – 0.0181. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and rising slope. Short cycle – positive and rising slope. Market direction:- Weak UpTrend. Momentum – Strong Upward. RSI – 51.2.   

USD/JPY closed at 108.43 with a doji candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Weekly trading range – 1.2699. Fractal Chaos Band – Within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and rising slope. Short cycle – positive and rising slope. Market direction:- Weak UpTrend. Momentum – Weak Upward. RSI – 50.7.

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

On a 12-monthly lookback, the relative strength order of the ETFs are /ES, SPX, SPY, XLY, XLK, XLP, XLU, XLF, XLI, XLB, XLV and XLE respectively.

Market Internals
Market Sentiment is bullish. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 126.24. Vix is at 14.25 and Vix futures 16.68.

The Week Ahead
Market continues to be volatile. Indices struggles to break to new high. Bond has been range trading for the last 3 days but the weekly momentum is now downwards. Skew is normal. Market internals continue to show strength. The prognosis is for the indices to have a bullish bias and the bond to have a bearish bias. .

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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