Bursa KLCI

14 July 2017 – Weekly Review – Bulls continue running


Indices (Weekly chart)
Dow Transportation touched all-time high of 9763.66 and closed at 9742.76 with a bullish candle above its moving averages. Weekly trading range was 207.69. Weekly momentum is upwards. BuySellTimer is in its positive cycle.

Dow Industrial touched all-time high of 21681.53 and closed at 21637.74 with a bullish candle above its moving averages. Weekly trading range was 402.2299. Weekly momentum is upwards. BuySellTimer is in positive cycle.

Russell 2000 closed at 1428.82 with a bullish candle above its moving averages. Weekly trading range was 30.3432. Momentum is upwards. BuySellTimer is in positive cycle. It is in a Squeeze.

Nasdaq 100 closed at 5838.0831 with a bullish candle above its 21 EMA. Weekly trading range was 194.5407. Momentum is upwards. BuySellTimer is in its positive cycle.

S&P 500 closed at 2457.5 with a bullish candle above its moving averages. Weekly trading range was 51. Momentum is upwards. BuySellTimer is in its positive cycle.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $46.68 per barrel with a bullish candle below its 21 EMA. Weekly trading range was $3.09. Momentum is bearish. BuySellTimer is in a negative cycle.

Gold futures (GC) closed at 1228.0 with a bullish candle below its 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 28.7. Momentum is downwards. BuySellTimer is in a negative cycle.

Agriculture (DBA) ETF closed at 20.07 with a bearish candle above its 21 EMA. Weekly trading range was 0.3399. Momentum is upwards. BuySellTimer is in positive cycle.

Commodities (DBC) ETF closed at 14.53 with a bullish candle below its 21 EMA and 50 SMA. Weekly trading range was 0.33. Momentum is downward. BuySellTimer is in its negative cycle.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 152’14 with a bullish candle below its 21 EMA and 50 SMA. Weekly trading range was 1.875. Momentum is sideways. BuySellTimer is in its negative cycle.

High Yield bond ETF (HYG) closed at 88.53 with a big bullish candle above its 21 EMA and 200 SMA. Weekly trading range was 1.0499. Momentum is upwards. BuySellTimer is in positive cycle.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 95.11 with a bearish candle below its 21 EMA. Weekly trading range is 1.117. Momentum is downward.

EUR/USD closed at 1.1467 with a bullish candle above its 50 SMA and 21 EMA. Weekly trading range was 0.0118. Momentum is upward.

USD/JPY closed at 112.52 with a bearish candle above its 21 EMA. Weekly trading range was 2.227. 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 XLK, XLF, XLV, XLB, XLI and XLE respectively.

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

Market Internals
Vix closed at 9.51. Vix futures is at 10.575. Skew is at 137.71. Market sentiment is rather bullish. Market breadth is sloping upward. Volumetric accumulation/distribution is sloping upward.

The Week Ahead
Vix is below 10 which is rather low. Vix futures is below 11 which means it is not pricing in short term volatility. Market internals show strength. The prognosis is for the market to continue trending upwards.

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