Bursa KLCI

16 January 2017 – Market in consolidation

The market is consolidating ahead of the US Presidential inauguration. With many unknowns and controversies with the President-elect, the market could well chose to be cautious.

Dow Transportation closed at 9202.34 with a marubozu candle above its moving averages. Daily trading range was 69.93. Momentum is positive. Volumetric buying pressure is at 82.3%. BuySellTimer is in its positive cycle.

Dow Industrial closed at 19885.73 with a doji candle on its 8 EMA and above its 21 EMA. Daily trading range was 102.649. Momentum is upward. Volumetric buying pressure is at 67%. BuySellTimer is in a neutral cycle. The index is in a daily Squeeze.

Russell 2000 closed at 1372.0471 with a bullish marubozu candle above its moving averages. Daily trading range was 14.792. Momentum is upward. Volumetric buying pressure is at 76.9%. BuySellTimer is in its neutral cycle. The index is in a daily Squeeze.

Nasdaq 100 closed at 5059.5095 above its moving averages. Daily trading range was 21.027. Momentum is upward. Volumetric buying pressure is at 100%. BuySellTimer is in a positive cycle. The index is in a weekly and monthly Squeeze.

S&P 500 closed with a small inverted hammer candle at 2274.64 above its moving averages. Daily trading range was 7.169. Momentum is upward. Volumetric buying pressure is at 99.1%. BuySellTimer is in a neutral cycle. It is in a daily Squeeze.

Metals and Commodities
WTI Crude oil futures closed with a small bearish candle on its 8 EMA. It is trading at $52.42 per barrel. BuySellTimer is in positive cycle.

Gold futures closed with a bullish marubozu candle above its 21 EMA and 50 SMA. It is trading at $1209.7 per ounce. BuySellTimer is in positive cycle.

Silver futures closed above its 21 EMA and on its 50 SMA with a high closing doji candle. It is trading at $16.950 per ounce. BuySellTimer is in a positive cycle.

Agriculture (DBA) ETF closed at 20.73 on its 200 SMA with a bullish candle. BuySellTimer is in a positive cycle.

Commodities (DBC) ETF closed at 15.89 with a small bullish candle above its moving averages. Momentum is bullish. BuySellTimer is in a positive cycle. It has exited its daily Squeeze.

Bonds
Bond futures (ZB) closed above its 50 SMA at 152’24. Momentum remains upward. BuySellTimer is in a positive cycle.

High Yield bond ETF (HYG) closed at 87.32 with a small spinnning top doji candle. Momentum is upward. BuySellTimer is in positive cycle.

Currencies
Dollar Index (DX) closed with a bearish hammer candle below its 50 SMA. It is trading at 101.110. Momentum is downward. BuySellTimer is in a negative cycle.

EUR/USD closed with a doji candle above its 21 EMA and 50 SMA. It is trading at 1.06467. Momentum remains upward.

USD/JPY closed with a spinning top doji candle candle below its moving averages. It is trading at 113.503. Momentum remains downward.

Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLY, XLK, XLI and XLU respectively.

On a 3-month lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLF, XLI, XLE, XLB and XLY respectively.

Market Internals
Vix closed lower at 11.23. Vix futures is at 12.25. Skew is at 132.32. Market sentiment is bullish. Market breadth is sloping upward. Volumetric accumulation/distribution is sloping upward.

The Week Ahead
Market internals remains strong sentiment is telling us that market participants are starting to be more cautious. The prognosis is that the market is still strong but more cautious until there is more clarity on many issues after the US Presidential inauguration.

Stock of the Day
The Stock of the Day is ADBE. Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.

 

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.


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