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8 February 2018 – Another big fall in the indices

Indices
Dow Transportation closed at 10159.6 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 400.47. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

Dow Industrial closed at 24860.46 with a huge bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1054.45. BuySellTimer is in negative cycle. TSI is in a positive cycle and negative slope. Market direction – Bearish.

Russell 2000 closed at 1463.79 with a huge bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 47.47. BuySellTimer is in negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

Nasdaq 100 closed at 6306.10 with a huge bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 301.86. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

S&P 500 closed at 2581 with a huge bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 104.71. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $60.42 per barrel with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.82. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction – Bearish.

Gold futures (GC) closed at 1320.8 with a doji candle below its 8 EMA, 21 EMA and above its 50 SMA. Daily trading range was 15.5. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction – Bearish. Gold is in a Squeeze.

Agriculture (DBA) ETF closed at 18.86 with a bearish marubozu candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.1311. BuySellTimer is in a positive cycle. TSI is in a positive cycle and negative slope. Market direction – Neutral/Bullish.

Commodities (DBC) ETF closed at 16.37 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.22. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction – Bearish.

Bonds
Bond futures (/ZB) closed at 144’09 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.344. BuySellTimer is in its negative cycle. TSI is in its negative cycle and negative slope. Market direction – Bearish.

High Yield bond ETF (HYG) closed at 85.19 with a big bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.82. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

Currencies
The dollar index ($DXY) closed at 90.278 with a doji candle above its 8 EMA and on its 21 EMA and below its 50 SMA. Daily trading range was 0.554. TSI is in a negative cycle and positive slope. Market direction – Bullish.

EUR/USD closed at 1.2246 with a spinning top doji candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.008. TSI is in a positive cycle and negative slope. Market direction – Bearish.

USD/JPY closed at 108.73 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.709. TSI is in a negative cycle and positive slope. Market direction – Neutral -Neutral.

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

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

Market Internals
Market Sentiment is bearish. Market breadth is sloping downwards showing nett loss to gainers. Market Volume is showing distribution. SKEW is 130.92. Vix is at 33.46 and Vix futures is at 27.15.

The Week Ahead
The indices suffered another big drop. Market internals are showing distribution and continuing weakness. Vix and Vix futures are elevated and in backwardation. The prognosis is for continuing weakness in the market.

Futures (daily chart):
ES – Sell
NQ – Sell
YM – Sell
GC – Sell
CL – Sell

Stocks Buy Watchlist
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Penny Stocks BreakOut
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To YOUR wealth!

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