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21 December 2017 – Indices head higher

Dow Transportation touched new high at 10691.01 and closed at 10629.71 with an bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 102. Momentum is upwards. BuySellTimer is in a positive cycle. TSI is in positive cycle and positive slope.

Dow Industrial closed at 24782.29 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 84.64. Momentum is upwards. BuySellTimer is in a positive cycle. TSI is in its positive cycle and positive slope.

Russell 2000 closed at 1547.11 with bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.75. Momentum is upwards. BuySellTimer is in a positive cycle. TSI is in positive cycle and positive slope. The index is in a Squeeze.

Nasdaq 100 closed at 6472.69 with a low closing doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 33.74. Momentum is upwards. BuySellTimer is in a positive cycle. TSI is in positive cycle and positive slope.

S&P 500 closed at 2684.57 with a low closing doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.24. Momentum is upwards. BuySellTimer is in a positive cycle. TSI is in positive cycle and negative slope.

Metals and Commodities
WTI Crude oil futures closed at $58.23 with a bullish 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. It is in a Squeeze.

Gold futures closed at $1269.6 with a spinning top doji candle above its 8 EMA and 21 EMA and below its 50 SMA. Momentum is sideways. BuySellTimer is in a positive cycle. TSI is in negative cycle and positive slope.

Agriculture ETF (DBA) closed at 18.47 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 negative cycle and positive slope.

Commodities ETF (DBC) closed at 16.13 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Momentum is sideways. BuySellTimer is in a positive cycle. TSI is in negative cycle and positive slope.

 

Bonds
Bond futures (ZB) closed at 151 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Momentum is downwards. BuySellTimer is in a negative cycle. TSI is in negative cycle and negative slope.

High Yield bond ETF (HYG) gapped down and closed at 86.92 with a small doji candle below its 8 EMA, 21 EMA and 50 SMA. Momentum is downwards. BuySellTimer is in a negative cycle. TSI is in negative cycle and negative slope.

 

Currencies
$DXY closed at 93.296 with a low closing spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Momentum is sideways. TSI is in a negative cycle and negative slope.

EUR/USD closed at 1.1870 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Momentum is upwards. TSI is in positive cycle and positive slope. It is in a Squeeze.

USD/JPY closed at 111.91 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Momentum is upwards. TSI is in positive cycle and positive slope.

Swiss Franc (6S) futures closed at 1.0194 with a bearish candle on its 8 EMA and above its 21 EMA and 50 SMA. Momentum is upwards. BuySellTimer is in a positive cycle. TSI is in a positive 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 XLE, XLF, XLI, XLY, XLK and XLP respectively.

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

Market Internals
Vix closed at 9.62. Vix futures is at 11.25. Skew is at 132.63. Market sentiment is bullish. Market breadth is sloping upwards. Volumetric accumulation/distribution has flattened.

The Week Ahead
Market internals continue to point to a bullish market. Vix and Vix futures are low which implied a lack of fear in the market. Skew is normal. Dow Transportation and Russell continue to lead the market upwards. The prognosis is for continuation of the bullish sentiment in the market.

Top Buy Penny Stocks!
BITCF, BW, EGO, EXK, GAPFF, GORO, GPL, INTV, MFIN, MUX, MYMMF, OCRX, PIXY, SORL, SRNE, UEC, VSLR and VSQTF.

 

To YOUR wealth!

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