Bursa KLCI

23 August 2017 – The downtrend continues

Dow Transportation gapped down and traded down and closed at 9086.30 with a bearish marubozu candle below its moving averages. Daily trading range was 118.48. Momentum is downwards. TSI is in negative cycle and slope downwards. BuySellTimer is in a negative cycle.

Dow Industrial gapped down and traded slightly downwards and closed at 21812.09 with a small bearish candle on its flat 21 EMA. Daily trading range was 58.27. Momentum is sideways. TSI is in positive cycle and slope downwards. BuySellTimer is in a negative cycle.

Russell 2000 traded sideways to close at 1369.7387 with a small dragonfly doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.11. Momentum is sideways. TSI is in negative cycle and slope upwards. BuySellTimer is in a negative cycle.

Nasdaq 100 gapped down and closed at 5851.7833 with a small bullish candle above its 8 EMA and below its 21 EMA. Daily trading range was 24.07. Momentum is sideways. TSI is in positive cycle and slope downwards. BuySellTimer is in a negative cycle.

S&P 500 gapped down and closed at 2444.04 with a small doji candle below its moving averages. Daily trading range was 7.49. Momentum is sideways. TSI is in negative cycle and slope downwards. BuySellTimer is in a negative cycle.

Metals and Commodities
WTI Crude oil futures closed at $48.37 with a bullish candle above its 21 EMA and 50 SMA. Momentum is sideways. TSI is in positive cycle and sloping upwards. BuySellTimer is in a negative cycle.

Gold futures closed at $1296.3 with a bullish candle above its moving averages. Momentum is sideways. TSI is in positive cycle and sloping downwards. BuySellTimer is in a positive cycle.

Agriculture ETF (DBA) closed at 18.48 with a bearish candle below its moving averages. Momentum is downwards. TSI is in negative cycle and sloping downwards. BuySellTimer is in a negative cycle.

Commodities ETF (DBC) closed at 14.83 with a bullish candle above its 21 EMA. Momentum is upwards. TSI is in positive cycle and slope upwards. BuySellTimer is in a positive cycle.

 

Bonds
Bond futures (ZB) closed at 156’16 with a bullish candle above its moving averages. Momentum is upwards. TSI is in positive cycle and positive slope. BuySellTimer is in a positive cycle.

High Yield bond ETF (HYG) gapped down and traded upwards and closed at 87.93 with a bullish candle below its 21 EMA. Momentum is sideways. TSI is in negative cycle and slope upwards. BuySellTimer is in a positive cycle.

 

Currencies
$DXY closed at 93.239 with a bearish candle below its downsloping 21 EMA. Momentum is sideways. TSI is in negative cycle and positive slope.

EUR/USD closed at 1.1806 with a bullish candle just above its EMA. Momentum is sideways. TSI is in positive cycle and slope downwards.

USD/JPY closed at 109.17 with a bearish candle below its moving averages. Momentum is sideways. TSI is in negative cycle and positive slope.

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

Market Internals
Vix closed at 12.25. Vix futures is at 13.60. Skew is at 129.98. Market sentiment is bullish. Market breadth is sloping downward. Volumetric accumulation/distribution is sloping upwards.

The Week Ahead
Market internals shows a deteriorating market breadth and distribution in the intermediate term. The indices are largely trading sideways. The prognosis is for a continuing sideways market.

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