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4 August 2017 – Weekly Review – Dow All-Time Highs


Indices (Weekly chart)
Dow Transportation closed at 9277.63 with a bullish hammer candle on its 21 EMA. Weekly trading range was 178.4699. Weekly momentum is sideways. BuySellTimer is in its negative cycle.

Dow Industrial closed at new all-time high at 22092.81 with a bullish marubozu candle above its moving averages. Weekly trading range was 231.1. Weekly momentum is upwards. BuySellTimer is in positive cycle.

Russell 2000 closed at 1412.3211 with a bearish candle above its 21 EMA. Weekly trading range was 30.0741. Momentum is sideways. BuySellTimer is in negative cycle.

Nasdaq 100 closed at 5899.9052 with a bearish hammer candle above its 21 EMA. Weekly trading range was 91.25. Momentum is upwards. BuySellTimer is in its positive cycle.

S&P 500 closed at 2472.1 with a doji candle above its moving averages. Weekly trading range was 13.9. Momentum is upwards. BuySellTimer is in its positive cycle.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $49.52 per barrel with a spinning top doji candle above its 21 EMA. Weekly trading range was $2.06. Momentum is sideways. BuySellTimer is in a positive cycle.

Gold futures (GC) closed at 1264.3 with a bearish candle above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 20.5. Momentum is upwards. BuySellTimer is in a positive cycle.

Agriculture (DBA) ETF closed at 19.66 with a bearish candle below its 21 EMA and 50 SMA. Weekly trading range was 0.3499. Momentum is sideways. BuySellTimer is in negative cycle.

Commodities (DBC) ETF closed at 14.82 with a bearish candle above its 21 EMA but below its 50 SMA. Weekly trading range was 0.31. Momentum is neutral. BuySellTimer is in its positive cycle.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 154’05 with a bullish ‘rolling pin’ candle above its 21 EMA but below its 50 SMA. Weekly trading range was 3.0312. Momentum is sideways. BuySellTimer is in its positive cycle.

High Yield bond ETF (HYG) closed at 88.50 with a bearish marubozu candle above its 21 EMA and 200 SMA. Weekly trading range was 0.5799. Momentum is upwards. BuySellTimer is in positive cycle.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 93.490 with a spinning top doji candle below its moving averages. Weekly trading range was 1.2259. Momentum is downward.

EUR/USD closed at 1.1774 with a low closing spinning top doji candle above its moving averages. Weekly trading range was 0.0187. Momentum is upward.

USD/JPY closed at 110.69 with a bearish candle below its 21 EMA. Weekly trading range was 1.2049. Weekly momentum is downwards.

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

Market Internals
Vix closed at 10.03. Vix futures is at 11.275. Skew is at 139.81. Market sentiment is bullish. Market breadth is downward. Volumetric accumulation/distribution has flattened.

The Week Ahead
Market internals remain strong and Vix and Vix futures continue to remain low. Dow Industrial continue to make new all-time high while the Dow Transportation and Russell 2000 are the laggards. S&P 500 and Nasdaq 100 is taking a breather in the month of August. The prognosis is for a mixed market and many stocks will be trading sideways.

Penny Stocks BreakOut of the Day
INAP, MRNS, PACB and XXII.

 

To YOUR wealth!

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