Indices
Dow Transportation closed at 10301.28 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 249.3. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.
Dow Industrial gapped up and closed at 24601.27 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 474.68. BuySellTimer is in negative cycle. TSI is in a positive cycle and negative slope. Market direction – Bearish.
Russell 2000 closed at 1490.98 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 31.23. BuySellTimer is in negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.
Nasdaq 100 closed at 6523.8513 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 140.98. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.
S&P 500 closed at 2656 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 50.16. 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 $59.38 per barrel with an inverted hammer candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.39. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.
Gold futures (GC) closed at 1325.1 with a bullish candle below its 8 EMA, 21 EMA and above its 50 SMA. Daily trading range was 13.7. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction – Bearish. Gold is in a Squeeze.
Agriculture (DBA) ETF closed at 18.94 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.12. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction – Neutral/Bullish.
Commodities (DBC) ETF closed at 16.23 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.106. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.
Bonds
Bond futures (/ZB) closed at 144’10 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 2.06. BuySellTimer is in its negative cycle. TSI is in its negative cycle and negative slope. Market direction – Bearish.
High Yield bond ETF (HYG) closed at 85.53 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.495. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. Market direction – Bearish.
Currencies
The dollar index ($DXY) closed at 90.108 with a bearish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.359. TSI is in a negative cycle and positive slope. Market direction – Bullish.
EUR/USD closed at 1.2290 with a bullish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.0062. TSI is in a positive cycle and negative slope. Market direction – Bearish.
USD/JPY closed at 108.64 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.447. TSI is in a negative cycle and negative 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 XLk, XLB, XLY and XLE 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, XLB and XLE respectively.
Market Internals
Market Sentiment is bullish. Market breadth continues to slope downwards showing nett loss to gainers. Market Volume accumulation/distribution has turned upwards showing accumulation. SKEW is 148.02. Vix is at 25.61 and Vix futures is at 26.05.
The Week Ahead
The indices are recovering from an oversold conditions. Market internals are showing stabilisation from the downtrend. SKEW is extremely elevated which means that the indices could be headed for another move downwards. Vix and Vix futures are still elevated to show. The prognosis is for more volatility and a possible move downwards to test the previous support.
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!
Would you like to learn to trade stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
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12 February 2018 – SKEW is UP! Are the Indices setting up to move downward?
Indices
Dow Transportation closed at 10301.28 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 249.3. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.
Dow Industrial gapped up and closed at 24601.27 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 474.68. BuySellTimer is in negative cycle. TSI is in a positive cycle and negative slope. Market direction – Bearish.
Russell 2000 closed at 1490.98 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 31.23. BuySellTimer is in negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.
Nasdaq 100 closed at 6523.8513 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 140.98. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.
S&P 500 closed at 2656 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 50.16. 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 $59.38 per barrel with an inverted hammer candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.39. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.
Gold futures (GC) closed at 1325.1 with a bullish candle below its 8 EMA, 21 EMA and above its 50 SMA. Daily trading range was 13.7. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction – Bearish. Gold is in a Squeeze.
Agriculture (DBA) ETF closed at 18.94 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.12. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction – Neutral/Bullish.
Commodities (DBC) ETF closed at 16.23 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.106. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.
Bonds
Bond futures (/ZB) closed at 144’10 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 2.06. BuySellTimer is in its negative cycle. TSI is in its negative cycle and negative slope. Market direction – Bearish.
High Yield bond ETF (HYG) closed at 85.53 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.495. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. Market direction – Bearish.
Currencies
The dollar index ($DXY) closed at 90.108 with a bearish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.359. TSI is in a negative cycle and positive slope. Market direction – Bullish.
EUR/USD closed at 1.2290 with a bullish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.0062. TSI is in a positive cycle and negative slope. Market direction – Bearish.
USD/JPY closed at 108.64 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.447. TSI is in a negative cycle and negative 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 XLk, XLB, XLY and XLE 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, XLB and XLE respectively.
Market Internals
Market Sentiment is bullish. Market breadth continues to slope downwards showing nett loss to gainers. Market Volume accumulation/distribution has turned upwards showing accumulation. SKEW is 148.02. Vix is at 25.61 and Vix futures is at 26.05.
The Week Ahead
The indices are recovering from an oversold conditions. Market internals are showing stabilisation from the downtrend. SKEW is extremely elevated which means that the indices could be headed for another move downwards. Vix and Vix futures are still elevated to show. The prognosis is for more volatility and a possible move downwards to test the previous support.
Futures (daily chart):
ES – Sell
NQ – Sell
YM – Sell
GC – Sell
CL – Sell
Stocks Buy Watchlist
.
Penny Stocks BreakOut
.
To YOUR wealth!
Would you like to learn to trade stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
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