Indices Dow Transportation closed at 10865.58 with a small spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range is 106.02. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 48.1.
Dow Industrial gapped down and closed at 29232.19 with a spinning top doji candle below its 8 EMa and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 281.27. 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 – 54.9.
Russell 2000 closed at 1683.5224 with a small spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 12.9871. 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 – 55.3.
Nasdaq 100 closed at 9629.8024 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 80.443. 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 – Weak Upward. RSI – 73.4.
S&P 500(SPX) closed at 3370.29 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 24.55. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 63.2.
Metals and Commodities WTI Crude oil futures (CL) closed at $52.36 per barrel with a doji candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.5. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Neutral. Momentum – Strong Upward. RSI – 44.
Gold (/GC) closed at 1605.6 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 26.4. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 68.5.
Commodities (DBC) ETF closed at 14.76 with a bullish marubozu candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.13. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Neutral. Momentum – Strong Upward. RSI – 43.
Bonds Bond futures (/ZB) closed at 163’01 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.4375. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 60.9.
High Yield bond ETF (HYG) closed at 88.22 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.255. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 54.3.
Currency The dollar index ($DXY) closed at 99.446 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.335. 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 – 73.8.
EUR/USD closed at 1.0791 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0051. Fractal Chaos Band – closed below 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 – 23.4.
USD/JPY closed at 109.86 with a big doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.2939. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 58.2.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, XLK, /ES, SPY, SPX, XLY, XLP, XLV, XLI, XLF, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLK, /ES, SPY, SPX, XLP, XLY, XLV, XLF, XLI, XLB and XLE.
Market Internals Market Sentiment – Extremely Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 137.66. Vix – 14.83 and Vix Futures – 15.45.
The Week Ahead Skew is normal. Vix has increased to below 15 and Vix futures is below 16. Market Internals are showing weakness. Market sentiment is extremely bullish. Gold has shot up as market weakens. The prognosis is for a volatile 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.
18 February 2020 – Gold surges
Indices
Dow Transportation closed at 10865.58 with a small spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range is 106.02. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – positive and falling. Market direction – Strong DownTrend. Momentum – Weak Downward. RSI – 48.1.
Dow Industrial gapped down and closed at 29232.19 with a spinning top doji candle below its 8 EMa and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range – 281.27. 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 – 54.9.
Russell 2000 closed at 1683.5224 with a small spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 12.9871. 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 – 55.3.
Nasdaq 100 closed at 9629.8024 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 80.443. 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 – Weak Upward. RSI – 73.4.
S&P 500 (SPX) closed at 3370.29 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 24.55. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 63.2.
Metals and Commodities
WTI Crude oil futures (CL) closed at $52.36 per barrel with a doji candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.5. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Neutral. Momentum – Strong Upward. RSI – 44.
Gold (/GC) closed at 1605.6 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 26.4. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising slope. Medium Cycle Wave – positive and rising slope. Short Cycle Wave – positive and rising slope. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 68.5.
Commodities (DBC) ETF closed at 14.76 with a bullish marubozu candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.13. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – negative and rising. Medium Cycle Wave – negative and rising. Short Cycle Wave – positive and rising. Market direction – Neutral. Momentum – Strong Upward. RSI – 43.
Bonds
Bond futures (/ZB) closed at 163’01 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 1.4375. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and rising. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 60.9.
High Yield bond ETF (HYG) closed at 88.22 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.255. Fractal Chaos Band – closed above its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and rising. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Strong Upward. RSI – 54.3.
Currency
The dollar index ($DXY) closed at 99.446 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.335. 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 – 73.8.
EUR/USD closed at 1.0791 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0051. Fractal Chaos Band – closed below 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 – 23.4.
USD/JPY closed at 109.86 with a big doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 0.2939. Fractal Chaos Band – closed within its FCB. Long Cycle Wave – positive and rising. Medium Cycle Wave – positive and falling. Short Cycle Wave – positive and falling. Market direction – Strong UpTrend. Momentum – Neutral. RSI – 58.2.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLU, XLK, /ES, SPY, SPX, XLY, XLP, XLV, XLI, XLF, XLB and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLK, /ES, SPY, SPX, XLP, XLY, XLV, XLF, XLI, XLB and XLE.
Market Internals
Market Sentiment – Extremely Bullish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 137.66. Vix – 14.83 and Vix Futures – 15.45.
The Week Ahead
Skew is normal. Vix has increased to below 15 and Vix futures is below 16. Market Internals are showing weakness. Market sentiment is extremely bullish. Gold has shot up as market weakens. The prognosis is for a volatile 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.
Share this:
Related