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8 August 2017 – Dow Industrial and S&P 500, Ever Higher!

Dow Transportation closed at 9232.85 with a low closing doji candle below its moving averages. Daily trading range was 119.3. Momentum is downwards. Volumetric buy/sell pressure is at 42.6%. BuySellTimer is in a negative cycle.

Dow Industrial touched all-time high at 22179.11 in new all-time high and closed at 22085.34 with a doji candle above its moving averages. Daily trading range was 121.8. Momentum is sideways. Volumetric buy/sell pressure is at 91.8%. BuySellTimer is in positive cycle.

Russell 2000 closed at 1410.1509 with a bearish spinning top doji candle below its moving averages. Daily trading range was 18.7. Momentum is downward. Volumetric buy/sell pressure is at 47%. BuySellTimer is in a negative cycle.

Nasdaq 100 closed at 5926.3519 with a low closing doji candle above its moving averages. Daily trading range was 62.4. Momentum is sideways. Volumetric Buy/Sell pressure is at 85.7%. BuySellTimer is in a positive cycle.

S&P 500 touched all-time high at 2490.87 and closed at 2474.92 with a low closing spinning top doji candle above its moving averages. Daily trading range was 20.5. Momentum is sideways. Volumetric buying pressure is at 87.6%. BuySellTimer is in a negative cycle.

Metals and Commodities
WTI Crude oil futures closed at $48.96 with a bearish candle above its 21 EMA, 50 SMA. Momentum is sideways. BuySellTimer is in a positive cycle.

Gold futures closed at $1266.5 with a bullish candle above its 21 EMA and 50 SMA. Momentum is sideways. BuySellTimer is in a negative cycle.

Agriculture (DBA) ETF closed at 19.63 with a bearish marubozu candle below its 21 EMA and 50 SMA. Momentum is downwards. BuySellTimer is in a negative cycle.

Commodities (DBC) ETF closed at 14.86 with a bullish inverted hammer candle above its 21 EMA and 50 SMA. Momentum is sideways. BuySellTimer is in a positive cycle.

 

Bonds
Bond futures (ZB) closed at 154’04 with a bullish ‘hammer’ candle above its 21 EMA and 50 SMA. Momentum is upwards. BuySellTimer is in a positive cycle.

High Yield bond ETF (HYG) closed at 88.08 with a big bearish candle below its 21 EMA and 50 SMA. Momentum is downwards. BuySellTimer is in a negative cycle.

 

Currencies
$DXY closed at 93.607 with a bullish candle below its 21 EMA and 50 SMA. Momentum is sideways.

EUR/USD closed at 1.1751 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Momentum is sideways.

USD/JPY closed at 109.85 with a bearish candle below its moving averages. Momentum is sideways.

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

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

Market Internals
Vix closed at 10.96. Vix futures is at 11.85. Skew is at 140.05. Market sentiment is bullish. Market breadth is sloping downward. Volumetric accumulation/distribution is sloping upwards.

The Week Ahead
Dow Industrial and S&P 500 made all-time high but sold off in the afternoon. Vix spiked up above 10. Market internals remain strong. The S&P 500 has been showing distribution. Also the HYG (junk bond ETF), the Russell 2000 and S&P 500 are trending downwards. The prognosis is for caution as it is the end of the earnings season.

Buy Penny Stocks!
BLRX, GGB, GLUU, INAP, KOPN, MGTI, NMM, ONDK, PDLI, TMQ, WPRT and XXII.

Stocks in Squeeze with strong buying pressure!
BWA, EMR, LEN, SPG, TRIP, TXN and WM.

 

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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