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11 October 2017 – Dow Industrial and S&P 500 grind to new highs

Dow Transportation traded upwards and closed at 9976.66 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 63.6. Momentum is sideways. BuySellTimer is in a positive cycle. TSI is in positive cycle and positive slope.

Dow Industrial touched new all-time high at 22872.89 and closed at 22872.89 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 51.23. Momentum is upwards. BuySellTimer is in a positive cycle. TSI is in positive cycle and positive slope.

Russell 2000 closed at 1506.9245 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 5.47. Momentum is sideways. BuySellTimer is in a positive cycle. TSI is in positive cycle and negative slope.

Nasdaq 100 closed at 6081.25 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 29.80. Momentum is upwards. BuySellTimer is in a positive cycle. TSI is in positive cycle and positive slope.

S&P 500 touched new all-time high at 2555.24 and closed at 2555.24 with a bullish maurbozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.37. Momentum is upwards. BuySellTimer is in a positive cycle. TSI is in positive cycle and positive slope.

Metals and Commodities
WTI Crude oil futures closed at $51.02 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Momentum is sideways. BuySellTimer is in a positive cycle. TSI is in positive cycle and positive slope.

Gold futures closed at $1293.9 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA. Momentum is upwards. BuySellTimer is in a positive cycle. TSI is in negative cycle and positive slope.

Agriculture ETF (DBA) closed at 19.10 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Momentum is upwards. BuySellTimer is in a positive cycle. TSI is in positive cycle and positive slope. It is in a Squeeze.

Commodities ETF (DBC) gapped up and closed at 15.45 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Momentum is sideways. BuySellTimer is in a positive cycle. TSI is in positive cycle and positive slope.

 

Bonds
Bond futures (ZB) closed at 152’14 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Momentum is sideways. BuySellTimer is in a negative cycle. TSI is in negative cycle and negative slope.

High Yield bond ETF (HYG) closed at 88.39 with a bearish marubozu candle below its 8 EMA, 21 EMA and above its 50 SMA. Momentum is sideways. BuySellTimer is in a negative cycle. TSI is in positive cycle and negative slope.

 

Currencies
$DXY closed at 92.957 with a bearish candle below its 8 EMA and 21 EMA and found support on its 50 SMA. Momentum is downwards. TSI is in a positive cycle and negative slope.

EUR/USD closed at 1.1857 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Momentum is upwards. TSI is in negative cycle and positive slope.

USD/JPY closed at 112.48 with a doji candle below its 8 EMA and above its 21 EMA and 50 SMA. Momentum is sideways. TSI is in positive cycle and negative slope.

6S (Swiss Franc futures) closed at 1.0318 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Momentum is sideways. BuySellTimer is in a positive cycle. TSI is in a 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 XLF, XLK, XLE, XLI, XLB and XLU respectively.

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

Market Internals
Vix closed at 9.85. Vix futures is at 10.75. Skew is at 138.74. Market sentiment is bullish. Market breadth is sloping upwards. Volumetric accumulation/distribution is sloping upwards.

The Week Ahead
Market internals continue to remain and Dow Industrial and S&P 500 made new all-time highs. The Vix and Vix futures are indicating no fear immediately and in the near term futures. The prognosis is for the market to continue to break out to new highs.

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ACRX, APPS, ARDM, ARWR, ATRS, CATB, DMTX, FCEL, FENG, GRPN, ITEK, PDLI, PLUG, SCYX, SRAX, VKTX and WPRT.

 

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