Indices Dow Transportation gapped down and closed at 10842.63 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range is 130.25. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Neutral. Momentum – Strong Downward. RSI – 54.7.
Dow Industrial closed at 27783.59 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 219.2. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 71.3.
Russell 2000 gapped down and closed at 1589.1788 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 14.06. Fractal Chaos Band – closed 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 – 60.8.
Nasdaq 100 closed at 8259.8132 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 41.2296. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 68.5.
S&P 500(SPX) closed at 3094.04 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 19.26. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 69.1.
Metals and Commodities WTI Crude oil futures (CL) closed at $57.38 per barrel with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and on its 200 SMA. Daily trading range – 1.33. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 58.3.
Gold (/GC) closed at 1464.3 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 11.5. Fractal Chaos Band – below its FCB lowerband. Long Cycle Wave – negative and falling slope. Medium Cycle Wave – negative and falling slope. Short Cycle Wave – negative and falling slope. Market direction – Strong DownTend. Momentum – Strong Downward. RSI – 38.9.
Commodities (DBC) ETF closed at 15.55 with a bullish candle below its 200 SMA and above its 8 EMA, 21 EMA, 50 SMA. Daily trading range – 0.1. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak Upward. Momentum – Weak Downward. RSI – 55.5.
Bonds Bond futures (/ZB) closed at 157’10 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.4687. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 41.9.
High Yield bond ETF (HYG) closed at 86.73 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.14. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 43.3.
Currency The dollar index ($DXY) closed at 98.317 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.155. Fractal Chaos Band – closed above its FCB upperband. 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 – 56.3.
EUR/USD closed at 1.1006 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0024. Fractal Chaos Band – closed below its FCB lowerband. 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 – 39.5.
USD/JPY closed at 108.8 with a bearish candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range – 0.5. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 52.2.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, XLV, SPX, SPY, /ES, XLI, XLB, XLF, XLP, XLY, XLE and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, SPX, SPY, /ES, XLV, XLI, XLB, XLP, XLF, XLY, XLU and XLE.
Market Internals Market Sentiment – Rather Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 124.61. Vix – 13 and Vix Futures – 14.04.
The Week Ahead The market is entering a stage of distribution and market internals are weakening. Skew is normal. Vix has risen a bit and Vix futures is below 15. Dow Transportation has a DownTrend signal and Russell 2000 looks to be in a downtrend. The other futures indices like ES, NQ and Dow Industrial are still making new highs. The prognosis is for a turn in the market over the next few days.
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.
13 November 2019 – Is the market turning?
Indices
Dow Transportation gapped down and closed at 10842.63 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range is 130.25. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Neutral. Momentum – Strong Downward. RSI – 54.7.
Dow Industrial closed at 27783.59 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 219.2. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 71.3.
Russell 2000 gapped down and closed at 1589.1788 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 14.06. Fractal Chaos Band – closed 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 – 60.8.
Nasdaq 100 closed at 8259.8132 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 41.2296. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 68.5.
S&P 500 (SPX) closed at 3094.04 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 19.26. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 69.1.
Metals and Commodities
WTI Crude oil futures (CL) closed at $57.38 per barrel with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and on its 200 SMA. Daily trading range – 1.33. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 58.3.
Gold (/GC) closed at 1464.3 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 11.5. Fractal Chaos Band – below its FCB lowerband. Long Cycle Wave – negative and falling slope. Medium Cycle Wave – negative and falling slope. Short Cycle Wave – negative and falling slope. Market direction – Strong DownTend. Momentum – Strong Downward. RSI – 38.9.
Commodities (DBC) ETF closed at 15.55 with a bullish candle below its 200 SMA and above its 8 EMA, 21 EMA, 50 SMA. Daily trading range – 0.1. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – negative and falling. Market direction – Weak Upward. Momentum – Weak Downward. RSI – 55.5.
Bonds
Bond futures (/ZB) closed at 157’10 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 1.4687. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 41.9.
High Yield bond ETF (HYG) closed at 86.73 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range – 0.14. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 43.3.
Currency
The dollar index ($DXY) closed at 98.317 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.155. Fractal Chaos Band – closed above its FCB upperband. 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 – 56.3.
EUR/USD closed at 1.1006 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.0024. Fractal Chaos Band – closed below its FCB lowerband. 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 – 39.5.
USD/JPY closed at 108.8 with a bearish candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range – 0.5. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Weak UpTrend. Momentum – Weak Downward. RSI – 52.2.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, XLV, SPX, SPY, /ES, XLI, XLB, XLF, XLP, XLY, XLE and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, SPX, SPY, /ES, XLV, XLI, XLB, XLP, XLF, XLY, XLU and XLE.
Market Internals
Market Sentiment – Rather Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downwards and showing distribution. Skew – 124.61. Vix – 13 and Vix Futures – 14.04.
The Week Ahead
The market is entering a stage of distribution and market internals are weakening. Skew is normal. Vix has risen a bit and Vix futures is below 15. Dow Transportation has a DownTrend signal and Russell 2000 looks to be in a downtrend. The other futures indices like ES, NQ and Dow Industrial are still making new highs. The prognosis is for a turn in the market over the next few days.
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.
Share this:
Related