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8 September 2017 – Weekly Review – A market moving sideways


Indices (Weekly chart)
Dow Transportation closed at 9383.74 with a small bullish candle above its 21 EMA and 50 SMA. Weekly trading range was 161.7. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope.

Dow Industrial closed at 21797.79 with a small bearish candle on its 8 EMA and above the 21 EMA and 50 SMA. Weekly trading range was 211.46. BuySellTimer is in positive cycle. TSI is in a positive cycle and negative slope.

Russell 2000 closed at 1399.43 with a bearish candle just above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 20.66. BuySellTimer is in negative cycle. TSI is in a positive cycle and negative slope.

Nasdaq 100 closed at 5913.3685 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 90.66. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope.

S&P 500 closed at 2461.43 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 25.42. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $47.56 per barrel with a small low closing doji candle on its 8 EMA, 21 EMA and below its 50 SMA. Weekly trading range was 2.27. BuySellTimer is in a negative cycle. TSI is in a negative cyle and positive slope.

Gold futures (GC) gapped up and closed at 1351.0 with a bullish candle above its moving averages. Weekly trading range was 31.3. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope.

Agriculture (DBA) ETF closed at 18.85 with a small bullish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.22. BuySellTimer is in negative cycle. TSI is in a negative cycle and negative slope.

Commodities (DBC) ETF closed at 15.12 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.23. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 157’15 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 3.125. BuySellTimer is in its positive cycle. TSI is in its positive cycle and positive slope.

High Yield bond ETF (HYG) closed at 87.79 with a bearish marubozu candle below its 8 EMA, 21 EMA and above its 50 SMA. Weekly trading range was 0.49. BuySellTimer is in negative cycle. TSI is in a positive cycle and negative slope.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 92.849 with a spinning top doji candle below its moving averages. Weekly trading range was 1.7259. TSI is in a negative cycle and negative slope.

EUR/USD closed at 1.1858 with a bearish candle above its moving averages. Weekly trading range was 0.0247. TSI is in a positive cycle and positive slope.

USD/JPY closed at 110.26 with a bullish candle on its 8 EMA and below it 21 EMA and 50 SMA. Weekly trading range was 2.40. TSI is in a negative cycle and negative slope.

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

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

Market Internals
Market Sentiment is slightly bullish. Market Breadth is sloping upwards. Volumetric Acc/Dis is showing distribution. SKEW is at 130.57. Vix is at 12.12 and Vix futures is at 13.275.

The Week Ahead
Market internals are still showing strength. The indices are trending sideways. Vix and Vix futures are telling us that the market is not expecting any near term volatility. High yield bond is showing signs of potential market weakness. The prognosis is for the indices to trend sideways but with negative bias.

Penny Stocks Buy watchlist
ARWR, AUY, AVEO, BITCH, BLDP, BTG, CDNA, DMTX, FENG, GFI, GGB, GLUU, GRPN, IPI, HMNY, KGC, MGTI, NGD, PACB, PDLI, RADA, SAND, SB, SENS, SID, TGB, TRMR, TRQ, UMC, VCEL, WPRT and XNET.

 

To YOUR wealth!

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