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20 February 2018 – Is the market setting up for the next move upwards?

Indices
Dow Transportation closed at 10340.60 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 170.52. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish/Bearish.

Dow Industrial closed at 24964.75 with a bearish marubozu candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 294.82. BuySellTimer is in positive cycle. TSI is in a negative cycle and positive slope. Market direction – – Neutral/Bullish.

Russell 2000 closed at 1529.99 with a bearish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 18.87. BuySellTimer is in positive cycle. TSI is in a negative cycle and positive slope. Market direction – Neutral/Bullish.

Nasdaq 100 closed at 6779.69 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 97.52. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Neutral/Bullish.

S&P 500 closed at 2716.26 with a spinning top doji candle above its 8 EMA and 50 SMA and above its 21 EMA. Daily trading range was 30.84. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction – Neutral/Bullish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $61.57 per barrel with a low closing spinning top candle above its 8 EMA and 50 SMA and below its 21 EMA. Daily trading range was 1.22. BuySellTimer is in a positive cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish/Bearish.

Gold futures (GC) closed at 1331.4 with a big bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 23.4. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction – Bearish/Bearish. Gold is in its daily Squeeze.

Agriculture (DBA) ETF closed at 18.98 with a long low closing spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.10. BuySellTimer is in a positive cycle. TSI is in a positive cycle and negative slope. Market direction – Bullish/Bullish.

Commodities (DBC) ETF closed at 16.62 with a spinning top doji candle above its 8 EMA and 50 SMA and below its 21 EMA. Daily trading range was 0.099. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction – Neutral/Bearish.

Bonds
Bond futures (/ZB) closed at 143’14 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.0312. BuySellTimer is in its negative cycle. TSI is in its negative cycle and positive slope. Market direction – Bearish/Bearish.

High Yield bond ETF (HYG) closed at 86.45 with a bullish marubozu candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.44. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction – Neutral/Bullish.

Currencies
The dollar index ($DXY) closed at 89.728 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.585. TSI is in a negative cycle and positive slope. Market direction – Bullish.

EUR/USD closed at 1.2336 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.0092. TSI is in a positive cycle and negative slope. Market direction – Bearish/Bearish. It is in a daily Squeeze.

USD/JPY closed at 107.31 with a bullish candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.822. TSI is in a negative cycle and positive slope. Market direction – Bearish/Bearish.

6S(Swiss Franc) – closed at 1.0706 with a big bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.0124. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction is Bullish/Bearish.

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

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

Market Internals
Market Sentiment is bullish. Market breadth slopes slightly upwards showing slight nett gainers to losers. Market Volume accumulation/distribution is sloping upwards showing accumulation. SKEW is 131.63. Vix is at 20.60 and Vix futures is at 18.45.

The Week Ahead
Market internals are showing strength even though the indices are slightly bearish. These are the signs that the smart money is accumulating. The indices have pulled back and looks to be setting up for the next move upwards. The prognosis is that the market is consolidating for the next move upwards.

Futures (daily chart):
ES – Neutral/Bullish
NQ – Neutral/Bullish
YM – Neutral/Neutral
GC – Bearish/Bearish
CL – Bearish/Bearish

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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