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20 February 2017 – Bulls march higher

Dow Transportation closed at 9495.39 with a bullish marubozu candle above its moving averages. Daily trading range was 87.35. Momentum is upward. Volumetric buying pressure is at 100%. BuySellTimer is in positive cycle.

Dow Industrial closed at 20624.05 with a bullish marubozu candle above its moving averages. Daily trading range was 91.4399. Momentum is upward. Volumetric buying pressure is at 100%. BuySellTimer is in positive cycle.

Russell 2000 closed at 1399.8619 with a dragonfly doji candle above its moving averages. Daily trading range was 7.1898. Momentum is upward. Volumetric buying pressure is at 100%. BuySellTimer is in its positive cycle.

Nasdaq 100 closed at new all-time high at 5324.72.6 with a bullish marubozu candle above its moving averages. Daily trading range was 25. Momentum is upward. Volumetric buying pressure is at 99.9%. BuySellTimer is in a positive cycle.

S&P 500 closed at all-time high 2351.16 with a bullish marubozu candle above its moving averages. Daily trading range was 11.5799. Momentum is upward. Volumetric buying pressure is at 100%. BuySellTimer is in a positive cycle.

Metals and Commodities
WTI Crude oil futures closed with a bullish candle above its 21 EMA. Momentum is sideways. It is trading at $53.99 per barrel. BuySellTimer is in positive cycle. It is in a Squeeze.

Gold futures closed with a bearish candle above its moving averages. It is trading at $1238.0 per ounce. Momentum is upward. BuySellTimer is in positive cycle.

Silver futures closed with a bearish candle above its moving averages and has found support on its 200 SMA. It is trading at $18.030 per ounce. Momentum is upward. BuySellTimer is in a positive cycle.

Agriculture (DBA) ETF gapped down and closed at 20.59 with a bullish marubozu candle above its 21 EMA. Momentum is sideways. BuySellTimer is in a positive cycle.

Commodities (DBC) ETF gapped down and closed at 15.78 with a bullish candle below its 21 EMA but above its 50 SMA. Momentum is downward. BuySellTimer has crossed into a negative cycle. It is in a Squeeze.

Bonds
Bond futures (ZB) closed with a bullish candle above its 21 EMA and 50 SMA. It is trading at 151’07. Momentum is sideways. BuySellTimer is in a positive cycle.

High Yield bond ETF (HYG) closed at 87.77 with a bullish marubozu candle above its moving averages. Momentum is upward. BuySellTimer is in a positive cycle.

Currencies
Dollar Index (DX) closed with a bullish candle above its 8 EMA and 21 EMA but below its 50 SMA. It is trading at 100.925. Momentum is downward. BuySellTimer is in a positive cycle.

EUR/USD closed with a small low closing spinning top doji candle above its 50 SMA and below its 21 EMA. It is trading at 1.0671. Momentum is downward.

USD/JPY closed with a small bullish candle below its 21 EMA and 50 SMA. Momentum is downward. It is trading at 113.20.

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

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

Market Internals
Vix closed at 11.49. Vix futures is at 13.00. Skew is at 141.13. Market sentiment is bullish. Market breadth is sloping upward. Volumetric accumulation/distribution is sloping upward.

The Week Ahead
The S&P 500 and the Nasdaq 100 continued to reach new high in a very bullish market. Skew levels are elevated meaning that market participants are protecting themselves with Out-of-Money puts in anticipation of a pullback. That can happen anytime. The prognosis is for a bullish market continuing but trade with caution.

Stock of the Day
The Stock of the Day is URRE. Uranium Resources, INC, is engaged in developing energy-related metals. As of December 16, 2016, the company has developed land position in two prospective lithium brine basins in Nevada and Utah in preparation.

 

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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