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8 January 2018 – Indices grind upwards

Indices
Dow Transportation touched new high at 11000.37 and closed at 10997.63 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 75.5. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope.

Dow Industrial touched new high at 25311.99 and closed at 25283 with a small hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 76.58. BuySellTimer is in positive cycle. TSI is in a positive cycle and positive slope.

Russell 2000 touched new high at 1562.99 and closed at 1561.81 with a high closing spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 14.76. BuySellTimer is in positive cycle. TSI is in a positive cycle and positive slope.

Nasdaq 100 touched new high at 6680.32 and closed at 6676.63 with a marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 31.12. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope.

S&P 500 touched new all-time high at 2748.51 and closed at 2747.71 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.91. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope.

Metals and Commodities
WTI Crude oil futures (CL) closed at $61.9 per barrel with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.71. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope.

Gold futures (GC) closed at 1321.2 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 5. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope.

Agriculture (DBA) ETF gapped down and closed at 18.7 with a hammer candle below its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 0.105. BuySellTimer is in a negative cycle. TSI is in a positive cycle and positive slope.

Commodities (DBC) ETF closed at 16.70 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.07. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope.

Bonds
Bond futures (/ZB) closed at 151’25 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.125. BuySellTimer is in its negative cycle. TSI is in its negative cycle and negative slope.

High Yield bond ETF (HYG) closed at 87.90 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.17. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope.

Currencies
The dollar index ($DXY) closed at 92.343 with a bullish candle on its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.175. TSI is in a negative cycle and positive slope.

EUR/USD closed at 1.1966 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.0017. TSI is in a positive cycle and negative slope.

USD/JPY closed at 113.07 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.6689. 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, XLB, XLI, XLK and XLY respectively.

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

Market Internals
Market Sentiment is positive. Market Breadth is showing more gainers to losers. Volumetric Acc/Dis is showing accumulation. SKEW is at 128. Vix is at 9.52 and Vix futures is at 10.55.

The Week Ahead
Market internals is strong. Vix and Vix futures are at record low. There is no fear in the market. The indices continue to trend upwards. The prognosis is for continuing strength.

Futures:
ES – Continuing Buy Signal
NQ – Continuing Buy Signal
GC – Continuing Buy Signal
CL – Continuing Buy Signal

Stocks Buy Watchlist
AMRN, AUY, BIOS, BTG, BW, CERC, CLD, EGO, EXK, GAPFF, GGB, GORO, GPL, GTE, MUX, NXTD, OCRX, SRNE.

Penny Stocks BreakOut
ACNNF, AMRN, ARREF, CGA, DELT, DMPI, FAX, GALXF, GIGM, GNMK, GST, IVITF, KOPN, MYSZ, NWKRF, PKD, PRED, SB, SIFY, USAU, WTI and YGE.

 

To YOUR wealth!

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