Indices Dow Transportation closed at 11030.04 with a small dragonfly doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 98.03. 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 – 65.1.
Dow Industrial closed at 27492.56 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 118.24. 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 – 65.5.
Russell 2000 closed at 1589.5417 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 12.59. 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 – 63.6.
Nasdaq 100 closed at 8196.0279 with a small candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 52.8162. 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 – 66.4.
S&P 500(SPX) gapped up and closed at 3076.78 with a small dragonfly doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 12.45. 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 – 67.4.
Metals and Commodities WTI Crude oil futures (CL) closed at $56.39 per barrel with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 1.74. Fractal Chaos Band – crossed below its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak. RSI – 54.8.
Gold (/GC) closed at 1492 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 12.1. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and flat. Medium Cycle Wave – negative and flat. Short Cycle Wave – negative and falling. Market direction – Strong DownTend. Momentum – Strong Downward. RSI – 46.5.
Commodities (DBC) ETF closed at 15.58 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.2164. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 57.7.
Bonds Bond futures (/ZB) closed at 158’21 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.1875. Fractal Chaos Band – closed within its FCB lowerband. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 42.9.
High Yield bond ETF (HYG) closed at 86.81 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.126. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 45.2.
Currency The dollar index ($DXY) closed at 97.949 with a doji candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 0.2. 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 – 50.9.
EUR/USD closed at 1.1073 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range – 0.0076. Fractal Chaos Band – closed below its FCB lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 46.3.
USD/JPY closed at 108.96 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.3619. 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 – Weak Upward. RSI – 55.1.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLF, XLI, SPX, SPY, XLK, /ES, XLB, XLV, XLY, XLP, XLE and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLF, SPX, XLK, SPY, XLI, /ES, XLB, XLP, XLV, XLY, XLU and XLE.
Market Internals Market Sentiment – Rather Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 125.20. Vix – 12.62 and Vix Futures – 14.90.
The Week Ahead The indices have been pulling back slightly the last couple of days. The US Treasury bond futures have been rising steadily as it is inversely correlated to the indices. Market internals still indicate strength. Skew is normal. Vix is below 13 and Vix futures is below 15. The prognosis is still for a bullish bias to the indices.
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.
6 November 2019 – Sideways
Indices
Dow Transportation closed at 11030.04 with a small dragonfly doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range is 98.03. 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 – 65.1.
Dow Industrial closed at 27492.56 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 118.24. 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 – 65.5.
Russell 2000 closed at 1589.5417 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 12.59. 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 – 63.6.
Nasdaq 100 closed at 8196.0279 with a small candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 52.8162. 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 – 66.4.
S&P 500 (SPX) gapped up and closed at 3076.78 with a small dragonfly doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 12.45. 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 – 67.4.
Metals and Commodities
WTI Crude oil futures (CL) closed at $56.39 per barrel with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 1.74. Fractal Chaos Band – crossed below its FCB Upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak. RSI – 54.8.
Gold (/GC) closed at 1492 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 12.1. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and flat. Medium Cycle Wave – negative and flat. Short Cycle Wave – negative and falling. Market direction – Strong DownTend. Momentum – Strong Downward. RSI – 46.5.
Commodities (DBC) ETF closed at 15.58 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.2164. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 57.7.
Bonds
Bond futures (/ZB) closed at 158’21 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.1875. Fractal Chaos Band – closed within its FCB lowerband. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 42.9.
High Yield bond ETF (HYG) closed at 86.81 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.126. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 45.2.
Currency
The dollar index ($DXY) closed at 97.949 with a doji candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range – 0.2. 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 – 50.9.
EUR/USD closed at 1.1073 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range – 0.0076. Fractal Chaos Band – closed below its FCB lowerband. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 46.3.
USD/JPY closed at 108.96 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range – 0.3619. 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 – Weak Upward. RSI – 55.1.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLF, XLI, SPX, SPY, XLK, /ES, XLB, XLV, XLY, XLP, XLE and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLF, SPX, XLK, SPY, XLI, /ES, XLB, XLP, XLV, XLY, XLU and XLE.
Market Internals
Market Sentiment – Rather Bullish. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upwards and showing accumulation. Skew – 125.20. Vix – 12.62 and Vix Futures – 14.90.
The Week Ahead
The indices have been pulling back slightly the last couple of days. The US Treasury bond futures have been rising steadily as it is inversely correlated to the indices. Market internals still indicate strength. Skew is normal. Vix is below 13 and Vix futures is below 15. The prognosis is still for a bullish bias to the indices.
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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