Indices Dow Transportation closed at 10676.57 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 154.67. 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 – 62.2.
Dow Industrial closed at 26805.53 with a bearish candle on its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 217.44. Fractal Chaos Band – 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 – 52.8.
Russell 2000 closed at 1550.1804 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 12.445. 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 – 58.7.
Nasdaq 100 closed at 7966.7186 with a small hammer candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 80.18 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 – Weak Upward. RSI – 58.7.
S&P 500(SPX) closed at 3010.29 with a hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 15.65. 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 – 58.4.
Metals and Commodities WTI Crude oil futures (CL) closed at $56.07 per barrel with a small spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 1.1. Fractal Chaos Band – above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 56.2.
Gold (/GC) closed at 1506.7 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 50 SMA. Daily trading range – 16.5. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 52.
Commodities (DBC) ETF gapped up and closed at 15.52 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.12. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 64.8.
Bonds Bond futures (/ZB) closed at 159’30 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 43.7.
High Yield bond ETF (HYG) closed at 87.32 with a bullish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.15. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.7.
Currency The dollar index ($DXY) closed at 97.666 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.494. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 41.8.
EUR/USD closed at 1.1102 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.0069. 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 – Neutral. RSI – 57.4.
USD/JPY closed at 108.59 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.258. 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 – 59.9.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, SPX, XLF, /ES, XLK, SPY, XLP, XLV, XLI, XLY, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, SPX, XLK, XLP, SPY, XLF, /ES, XLI, XLY, 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 – 125.22. Vix – 13.71 and Vix Futures – 16.05.
The Week Ahead Market internals continue to show strength. Market sentiment is rather bullish which means the following day thens to be a down day. Skew is normal. Vix is below 14 and Vix futures is below 17. Volatility continues in the earnings season. Bond is showing sign of bottoming and may reversed upwards. The prognosis is for a volatile market with bullish 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.
24 October 2019 – Bulls and Bears collide
Indices
Dow Transportation closed at 10676.57 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 154.67. 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 – 62.2.
Dow Industrial closed at 26805.53 with a bearish candle on its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 217.44. Fractal Chaos Band – 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 – 52.8.
Russell 2000 closed at 1550.1804 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 12.445. 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 – 58.7.
Nasdaq 100 closed at 7966.7186 with a small hammer candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 80.18 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 – Weak Upward. RSI – 58.7.
S&P 500 (SPX) closed at 3010.29 with a hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 15.65. 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 – 58.4.
Metals and Commodities
WTI Crude oil futures (CL) closed at $56.07 per barrel with a small spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 1.1. Fractal Chaos Band – above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 56.2.
Gold (/GC) closed at 1506.7 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 50 SMA. Daily trading range – 16.5. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Weak UpTrend. Momentum – Strong Upward. RSI – 52.
Commodities (DBC) ETF gapped up and closed at 15.52 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.12. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 64.8.
Bonds
Bond futures (/ZB) closed at 159’30 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Weak Upward. RSI – 43.7.
High Yield bond ETF (HYG) closed at 87.32 with a bullish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.15. Fractal Chaos Band – above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 60.7.
Currency
The dollar index ($DXY) closed at 97.666 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.494. Fractal Chaos Band – within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Neutral. RSI – 41.8.
EUR/USD closed at 1.1102 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.0069. 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 – Neutral. RSI – 57.4.
USD/JPY closed at 108.59 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.258. 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 – 59.9.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, SPX, XLF, /ES, XLK, SPY, XLP, XLV, XLI, XLY, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, SPX, XLK, XLP, SPY, XLF, /ES, XLI, XLY, 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 – 125.22. Vix – 13.71 and Vix Futures – 16.05.
The Week Ahead
Market internals continue to show strength. Market sentiment is rather bullish which means the following day thens to be a down day. Skew is normal. Vix is below 14 and Vix futures is below 17. Volatility continues in the earnings season. Bond is showing sign of bottoming and may reversed upwards. The prognosis is for a volatile market with bullish 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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