Bursa KLCI

7 July 2017 – A week of divergence


Indices (Weekly chart)
Dow Transportation touched all-time high of 9704.52 and closed at 9694.94 with a bullish candle above its moving averages. Weekly trading range was 143.6499. Weekly momentum is upwards. BuySellTimer is in its positive cycle.

Dow Industrial touched all-time high of 21562.75 and closed at 21414.34 with a doji candle above its moving averages. Weekly trading range was 257.3699. Weekly momentum is upwards. BuySellTimer is in positive cycle.

Russell 2000 closed at 1415.8354 with a doji candle above its moving averages. Weekly trading range was 30.5386. Momentum is upwards. BuySellTimer is in positive cycle. It is in a Squeeze.

Nasdaq 100 closed at 5656.4696 with a hammer candle above its 21 EMA. Weekly trading range was 105.3382. Momentum is sideways. BuySellTimer is in its negative cycle.

S&P 500 closed at 2425.18 with a spinning top doji candle above its moving averages. Weekly trading range was 31.47. Momentum is upwards. BuySellTimer is in its positive cycle.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $44.33 per barrel with a bearish candle below its 8 EMA and 21 EMA. Weekly trading range was $3.5399. Momentum is bearish. BuySellTimer is in a negative cycle.

Gold futures (GC) closed at 1211.9 with a bearish candle below its 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 36. Momentum is downwards. BuySellTimer is in a negative cycle.

Agriculture (DBA) ETF closed at 20.10 with a spinning top doji candle above its 21 EMA. Weekly trading range was 0.42. Momentum is sideways. BuySellTimer is in positive cycle.

Commodities (DBC) ETF closed at 14.25 with a bearish candle below its 21 EMA and 50 SMA. Weekly trading range was 0.49. Momentum is downward. BuySellTimer is in its negative cycle.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 151’25 with a bearish marubozu candle below its 21 EMA and 50 SMA. Weekly trading range was 2.375. Momentum is sideways. BuySellTimer is in its negative cycle.

High Yield bond ETF (HYG) closed at 87.60 with a bearish candle below its 21 EMA and 200 SMA. Weekly trading range was 0.7999. Momentum is sideways. BuySellTimer is in negative cycle.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 95.999 with a small bullish candle below its 21 EMA. Weekly trading range is 0.882. Momentum is downward.

EUR/USD closed at 1.1399 with a high closing spinning top doji candle above its 50 SMA and 21 EMA. Weekly trading range was 0.0127. Momentum is upward.

USD/JPY closed at 113.89 with a bullish marubozu candle above its 21 EMA. Weekly trading range was 2.087. Weekly momentum is upward.

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

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

Market Internals
Vix closed at 11.19. Vix futures is at 12.575. Skew is at 131.58. Market sentiment is slightly bullish. Market breadth is sloping downward. Volumetric accumulation/distribution is sloping downward.

The Week Ahead
The Dow Transportation and Industrial made new all-time high for the week. The Nasdaq 100 and S&P 500 have pulled back but the overall momentum in the market has a bullish bias. The prognosis is to look for buying opportunity with the recent pullback.

Penny Stocks of the Day
DGLY.

 

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