20 December 2019 – Weekly Review – Indices surged to new all time high
Indices (Weekly chart) Dow Transportation ($DJT) closed at 10900.73 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 221.01. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 56. The index is in its monthly Squeeze.
Dow Industrial ($DJI) closed at 28455.09 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 473.26. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium CycleWave – positive and rising. Short cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. It is in a monthly Squeeze. RSI – 68.4.
Russell 2000 closed at 1671.902 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 36.45. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 66.7.
Nasdaq 100 closed at 8678.491 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 199.9545. Fractal Chaos Band – Above its FCB upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 73.6.
S&P 500 closed at 3221.22 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 56.85. 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 – 73.4.
Metals and Commodities (Weekly charts) WTI Crude oil futures (CL) closed at $60.36 per barrel with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 1.69. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Strong Upwards. RSI – 57.5.
Gold futures (GC) closed at 1482.4 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 11.5. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and rising slope. Short cycle – negative and rising slope. Market direction:- Strong UpTrend. Momentum – Weak Downward. RSI – 56.7.
Bonds (Weekly charts) Bond futures (/ZB) closed at 156’05 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Weekly trading range was 2.6562. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short cycle – negative and falling. Market direction:- Weak DownTrend. Momentum – Strong Downward. RSI – 46.4.
High Yield bond ETF (HYG) closed at 87.72 with a gravestone doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 0.64. Fractal Chaos Band – closed above its FCB Upperband. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Weak Upward. RSI – 60.6.
Currencies (Weekly charts) The dollar index ($DXY) closed at 97.680 with a bullish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Weekly trading range – 0.8279. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – negative and falling slope. Short cycle – negative and falling slope. Market direction:- Weak DownTrend. Momentum – Weak Downward. RSI – 49.7.
EUR/USD closed at 1.1079 with a bearish candle above its 21 EMA and below its 8 EMA, 50 SMA, 200 SMA. Weekly trading range – 0.0108. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and rising slope. Short cycle – negative and rising slope. Market direction:- Weak UpTrend. Momentum – Weak Upward. RSI – 47.8.
USD/JPY closed at 109.47 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Weekly trading range – 0.499. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Strong Upward. RSI – 55.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the ETFs are XLK, SPX, XLV, /ES, SPY, XLY, XLP, XLB, XLE, XLU, XLF AND XLI respectively.
On a 12-monthly lookback, the relative strength order of the ETFs are XLK, SPX, /ES, XLV, XLY, SPY, XLP, XLB, XLF, XLU, XLI and XLE respectively.
Market Internals Market Sentiment is extremely bullish. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 147.17. Vix is at 12.51 and Vix futures 14.83.
The Week Ahead Market Sentiment is extremely bullish. Skew is showing overly bullish bias. Market internals are strong. Vix is below 13 and Vix futures are below 15. The indices RSI in the daily and weekly charts are showing over bought conditions. It might be that this market will continue with its bullish and be sold off in the New Year. The prognosis is to be cautious trading and overly bullish 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.
20 December 2019 – Weekly Review – Indices surged to new all time high
Indices (Weekly chart)
Dow Transportation ($DJT) closed at 10900.73 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 221.01. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Weak Upward. RSI – 56. The index is in its monthly Squeeze.
Dow Industrial ($DJI) closed at 28455.09 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 473.26. 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. It is in a monthly Squeeze. RSI – 68.4.
Russell 2000 closed at 1671.902 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 36.45. Fractal Chaos Band – closed above its FCB upperband. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 66.7.
Nasdaq 100 closed at 8678.491 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 199.9545. Fractal Chaos Band – Above its FCB upperband. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short cycle – positive and rising. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 73.6.
S&P 500 closed at 3221.22 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 56.85. 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 – 73.4.
Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $60.36 per barrel with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 1.69. Fractal Chaos Band – Within its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Strong Upwards. RSI – 57.5.
Gold futures (GC) closed at 1482.4 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 11.5. Fractal Chaos Band – within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – positive and rising slope. Short cycle – negative and rising slope. Market direction:- Strong UpTrend. Momentum – Weak Downward. RSI – 56.7.
Bonds (Weekly charts)
Bond futures (/ZB) closed at 156’05 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Weekly trading range was 2.6562. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling. Medium Cycle Wave – negative and falling. Short cycle – negative and falling. Market direction:- Weak DownTrend. Momentum – Strong Downward. RSI – 46.4.
High Yield bond ETF (HYG) closed at 87.72 with a gravestone doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range – 0.64. Fractal Chaos Band – closed above its FCB Upperband. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Weak Upward. RSI – 60.6.
Currencies (Weekly charts)
The dollar index ($DXY) closed at 97.680 with a bullish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Weekly trading range – 0.8279. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – positive and falling slope. Medium Cycle Wave – negative and falling slope. Short cycle – negative and falling slope. Market direction:- Weak DownTrend. Momentum – Weak Downward. RSI – 49.7.
EUR/USD closed at 1.1079 with a bearish candle above its 21 EMA and below its 8 EMA, 50 SMA, 200 SMA. Weekly trading range – 0.0108. Fractal Chaos Band – Closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – negative and rising slope. Short cycle – negative and rising slope. Market direction:- Weak UpTrend. Momentum – Weak Upward. RSI – 47.8.
USD/JPY closed at 109.47 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Weekly trading range – 0.499. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and rising slope. Medium Cycle Wave – positive and rising slope. Short cycle – positive and rising slope. Market direction:- Strong UpTrend. Momentum – Strong Upward. RSI – 55.
Relative Strength – Sectors
On a 3-monthly lookback, the relative strength order of the ETFs are XLK, SPX, XLV, /ES, SPY, XLY, XLP, XLB, XLE, XLU, XLF AND XLI respectively.
On a 12-monthly lookback, the relative strength order of the ETFs are XLK, SPX, /ES, XLV, XLY, SPY, XLP, XLB, XLF, XLU, XLI and XLE respectively.
Market Internals
Market Sentiment is extremely bullish. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 147.17. Vix is at 12.51 and Vix futures 14.83.
The Week Ahead
Market Sentiment is extremely bullish. Skew is showing overly bullish bias. Market internals are strong. Vix is below 13 and Vix futures are below 15. The indices RSI in the daily and weekly charts are showing over bought conditions. It might be that this market will continue with its bullish and be sold off in the New Year. The prognosis is to be cautious trading and overly bullish 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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