Bursa KLCI

24 May 2017 – The grind upwards continues

Dow Transportation closed at 9022.52 with a doji candle on its 21 EMA and below its 50 SMA. Daily trading range was 47.03. Momentum is sideways. Volumetric buying pressure is at 97.4%. BuySellTimer is in a positive cycle.

Dow Industrial gapped up and closed at 21012.42 with a bullish candle above its 21 EMA and 50 SMA. Daily trading range was 89.2399. Momentum is upwards. Volumetric buying pressure is at 100%. BuySellTimer is in positive cycle.

Russell 2000 closed at 1382.5086 with a spinning top doji candle on its 21 EMA and above 50 SMA. Daily trading range was 9.5201. Momentum is sideways. Volumetric buying pressure is at 84.4%. BuySellTimer is in a positive cycle.

Nasdaq 100 gapped up and closed at 5730.3014 with a bullish hammer candle above its moving averages. Daily trading range was 27.4036. Momentum is upward. Volumetric buying pressure is at 100%. BuySellTimer is in a positive cycle.

S&P 500 gapped up and closed at 2404.39 with a bullish candle above its moving averages. Daily trading range was 7.59. Momentum is upwards. Volumetric buying pressure is at 100%. BuySellTimer is in a positive cycle.

Metals and Commodities
WTI Crude oil futures closed with a spinning top doji candle above its moving averages. Momentum is upward. It is trading at $51.57 per barrel. BuySellTimer is in a positive cycle.

Gold futures closed with a bullish candle above its 21 EMA and 50 SMA. It is trading at $1257.5 per ounce. Momentum is upward. BuySellTimer is in a positive cycle.

Silver futures closed with a bullish marubozu candle above its moving averages. It is trading at $17.180 per ounce. Momentum is neutral. BuySellTimer is in a positive cycle.

Agriculture (DBA) ETF gapped down and closed at 19.84 with a bearish hammer candle below its 21 EMA and on its 50 SMA. Momentum is sideways. BuySellTimer is in a negative cycle.

Commodities (DBC) ETF closed at 15.09 with a spinning top doji candle above its moving averages. Momentum is neutral. BuySellTimer is in a positive cycle.

 

Bonds
Bond futures (ZB) closed with a bullish candle above its 21 EMA and 50 SMA. It is trading at 153’24. Momentum is upward. BuySellTimer is in a positive cycle.

High Yield bond ETF (HYG) closed at 88.59 with a bullish candle above its moving averages. Momentum is upward. BuySellTimer is in a positive cycle.

 

Currencies
$DXY closed with a bearish candle below its moving averages. It is trading at 97.041. Momentum is sharply downward.

EUR/USD closed with a bullish marubozu candle above its 21 EMA and 50 SMA. It is trading at 1.1222. Momentum is upward.

USD/JPY closed with a bearish inverted hammer candle below its 21 EMA but above its 50 SMA. Momentum is downward. It is trading at 111.58.

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

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

Market Internals
Vix closed at 10.02. Vix futures is at 11.95. Skew is at 123.11. Market sentiment is bullish. Market breadth is sloping upward. Volumetric accumulation/distribution is sloping upward.

The Week Ahead
The Vix and Vix futures are below 11 and 12 respectively and show no sign of fear. S&P 500 is poised to break above 2400. The prognosis is for more upward movement due to the buying pressure.

Penny Stocks Breaking Upwards!
UMC and ZNGA.

 

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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