Bursa KLCI

14 March 2017 – Market indecision, bears are waiting

Dow Transportation closed at 9123.06 with a bearish marubozu candle below its 50 SMA. Daily trading range was 133.2299. Momentum is bearish. Volumetric buying pressure is at 60.3%. BuySellTimer is in a negative cycle.

Dow Industrial closed at 20837.37 with a small doji candle above its moving averages. Daily trading range was 87.6899. Momentum is neutral. Volumetric buying pressure is at 100%. BuySellTimer is in negative cycle.

IWM (Russell 2000) closed at 135.63 with a doji candle below its moving averages. Daily trading range was 1.2699. Momentum is downward. Volumetric buying pressure is at 53.7%. BuySellTimer is in a negative cycle.

Nasdaq 100 closed at 5382.1674 with a small doji candle above its moving averages. Daily trading range was 24.1797. Momentum is upward. Volumetric buying pressure is at 99.9%. BuySellTimer is in a positive cycle.

S&P 500 closed at 2365.45 with a small bearish candle below its 8 EMA. Daily trading range was 10.37. Momentum is neutral. Volumetric buying pressure is at 99.9%. BuySellTimer is in a negative cycle.

Metals and Commodities
WTI Crude oil futures closed with a big high closing doji candle below its 200 SMA. Momentum is downward. It is trading at $48.45 per barrel. BuySellTimer is in a negative cycle.

Gold futures closed with a bearish candle below its moving averages. It is trading at $1199.3 per ounce. Momentum is downward. BuySellTimer is in a negative cycle.

Silver futures closed with a bearish candle below its moving averages. It is trading at $16.915 per ounce. Momentum is downward. BuySellTimer is in a negative cycle.

Agriculture (DBA) ETF closed at 20.01 with a doji candle below its moving averages. Momentum is downward. BuySellTimer is in a negative cycle.

Commodities (DBC) ETF closed at 14.83 with a big bullish candle below its 200 SMA. Momentum is downward. BuySellTimer is in a negative cycle.

Bonds
Bond futures (ZB) closed with a bullish candle below its moving averages. It is trading at 146’28. Momentum is downward. BuySellTimer is in a negative cycle.

High Yield bond ETF (HYG) closed at 86.11 with a doji candle on its 200 SMA. Momentum is downward. BuySellTimer is in a negative cycle.

Currencies
EUR/USD closed with a big bearish hammer candle on its 21 EMA and 50 SMA. It is trading at 1.0612. Momentum is upward.

USD/JPY closed with a doji candle above its moving averages. Momentum is upward. It is trading at 114.63.

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

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

Market Internals
Vix closed at 12.30. Vix futures is at 12.58. Skew is at 146.11. Market sentiment is neutral. Market breadth is sloping downward and deteriorating. Volumetric accumulation/distribution is sloping upward.

The Week Ahead
The market is sending mixed signal for the short term. Market breadth is deteriorating and the SKEW tells us that market participants are anticipating moves to the downside. Vix has increased but Vix futures is not showing fear. Market sentiment is neutral. The prognosis is an undecided market and waiting for news of the interest rate hike by the FED.

Stock of the Day
The Stock of the Day is ABBV. Abbvie Inc is a research-based biopharmaceutical company. It develops and markets therapies that address a range of diseases.

 

To YOUR wealth!

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