Bursa KLCI

9 February 2018 – Weekly Update – Have the indices found its short-term bottom?


Indices (Weekly chart)
Dow Transportation closed at 10136.61 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 957.11. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope.

Dow Industrial closed at 24190.90 with a bearish candle below its 8 EMA, 21 EMA and above 50 SMA. Weekly trading range was 2160.24. BuySellTimer is in positive cycle. TSI is in a positive cycle and negative slope.

Russell 2000 closed at 1477.84 with a big bearish marubozu candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 110.60. BuySellTimer is in negative cycle. TSI is in a positive cycle and negative slope.

Nasdaq 100 closed at 6412.6803 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 643.54. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope.

S&P 500 closed at 2619.55 with a big bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 230.70. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $59.05 per barrel with a big bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 7.33. BuySellTimer is in a positive cycle. TSI is in a positive cycle and negative slope.

Gold futures (GC) closed at 1318.1 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 40.3. BuySellTimer is in a positive cycle. TSI is in a positive cycle and negative slope.

Agriculture (DBA) ETF closed at 18.82 with a small spinning top doji candle above its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 0.2752. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope.

Commodities (DBC) ETF closed at 16.13 with a big bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 1. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 143’26 with a big bearish inverted hammer candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 4’125. BuySellTimer is in its negative cycle. TSI is in its negative cycle and negative slope.

High Yield bond ETF (HYG) closed at 84.95 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 2.549. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 90.324 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.546. TSI is in a negative cycle and positive slope.

EUR/USD closed at 1.225 with a big bearish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0269. TSI is in a positive cycle and negative slope.

USD/JPY closed at 108.78 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 2.242. 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 XLK, XLY, XLE and XLF respectively.

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

Market Internals
Market Sentiment is bearish. Market Breadth is sloping downwards showing nett losers to gainers. Volumetric Acc/Dis is sloping downwards and showing distribution. SKEW is at 128.51. Vix is at 29.06 and Vix futures is at 27.175.

The Week Ahead
Market internals continue to weaken. The indices have already pulled back more than 10% from its peak and thus we are in correction territory. The downward selling continues to pressure the market. Momentum is downward. The prognosis is for the correction to continue.

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

Stocks Buy Watchlist
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Penny Stocks BreakOut
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To YOUR wealth!

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