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9 March 2020 – Oil tanks, Indices crashed, Bonds to the moon

Indices
Dow Transportation closed at 8083.49 with a big huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range is 940.76. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 17.5.

Dow Industrial gapped down and closed at 23851.02 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 2158.71. Fractal Chaos Band – closed below 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 – 27.6.

Russell 2000 gapped down and closed at 1313.44 with a huge bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 138.465. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and rising. Short Cycle Wave – negative and falling. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 21.

Nasdaq 100 gapped down and closed at 7948.0272 with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 618.194. Fractal Chaos Band – closed below its FCB. Long Cycle Wave – negative and falling. Medium Cycle Wave – negative and falling. Short Cycle Wave – negative and rising. Market direction – Strong DownTrend. Momentum – Strong Downward. RSI – 31.

S&P 500 (SPX) gapped down and closed at 2746.56 with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 237.94. 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 – 27.1.

Metals and Commodities
WTI Crude oil futures (CL) gapped down and closed at $32.86 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 14.23. 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 – 21.7.

Gold (/GC) gapped up and closed at 1680.1 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 46.3. Fractal Chaos Band – closed within 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 – 63.4.

Commodities (DBC) ETF gapped down and closed at 12.32 with a doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.1. 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 – 16.7.

Bonds
Bond futures (/ZB) closed at 184’26 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 13.4062. 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 – 80.7.

High Yield bond ETF (HYG) gapped down and closed at 81.39 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 5.41. 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 – 20.4.

Currency
The dollar index ($DXY) gapped down and closed at 95.069 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 1.4429. 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 – 25.9.


EUR/USD gapped up and closed at 1.1449 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range – 0.0219. 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 – 76.

USD/JPY closed at 102.33 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range – 4.1329. 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 – 25.8.

Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLP, XLU, /ES, XLV, XLY, XLI, XLF, XLK, SPX, SPY, XLB and XLE.

On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLU, XLP, XLK, XLV, /ES, XLY, XLI, XLF, SPX, SPY, XLB, and XLE.  

Market Internals
Market Sentiment – Bearish. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 121.57. Vix – 54.46 and Vix Futures – 40.66.   

The Week Ahead 
Oil gapped down and the indices followed it downwards. Panic set in and bond was bought till 191’22. Trading range for bond for the day was 13.4062 and RSI on the daily and weekly charts were above 80! Dow Industrial had a trading range of 2230 and the S&P 500 had a trading range of 248.75. It was a day of extreme volatility in the market. The prognosis is for a decrease in volatility.

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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