Bursa KLCI

27 February 2018 – Fear of more rate hikes, market pulls back

Indices
Dow Transportation closed at 10523.79 with a big bearish marubozu candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 300.35. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction – Neutral/Neutral.

Dow Industrial closed at 25410.03 with a bearish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 392.52. BuySellTimer is in positive cycle. TSI is in a negative cycle and positive slope. Market direction – Neutral/Buy.

Russell 2000 closed at 1536.47 with a big bearish candle on its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 28.16. BuySellTimer is in positive cycle. TSI is in a negative cycle and positive slope. Market direction – Neutral/Neutral.

Nasdaq 100 closed at 6900.35 with a big bearish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 102.78. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

S&P 500 closed at 2744.28 with a big bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 44.93. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction – Neutral/Buy.

Metals and Commodities
WTI Crude oil futures (CL) closed at $62.64 per barrel with a bearish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.47. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction – Neutral/Buy.

Gold futures (GC) closed at 1319.2 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 24. BuySellTimer is in a positive cycle. TSI is in a positive cycle and negative slope. Market direction – Neutral/Buy. Gold is in its daily Squeeze.

Agriculture (DBA) ETF closed at 19.10 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.075. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

Commodities (DBC) ETF closed at 16.78 with a bearish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.14. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Neutral/Buy.

Bonds
Bond futures (/ZB) closed at 142’25 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.406. BuySellTimer is in its negative cycle. TSI is in its negative cycle and positive slope. Market direction – Sell/Sell.

High Yield bond ETF (HYG) closed at 86.31 with a bearish candle above its 8 EMA and on its 21 EMA and below its 50 SMA. Daily trading range was 0.30. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction – Buy/Buy.

Currencies
The dollar index ($DXY) closed at 90.364 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.805. TSI is in a negative cycle and positive slope. There is positive divergence for the US Dollar Index and it is turning upwards. Market direction – Buy/Buy.

EUR/USD closed at 1.2232 with a big bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.0124. TSI is in a positive cycle and negative slope. Market direction – Sell/Sell.

USD/JPY closed at 107.31 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.894. TSI is in a negative cycle and positive slope. Market direction – Sell/Sell.

6S(Swiss Franc) – closed at 1.0664 with a spinning top doji candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.0067. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction is Bearish/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 XLI respectively.

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

Market Internals
Market Sentiment remains bullish. Market Breadth is sloping upwards which still shows more gainers to decliners. Market Volume Acc/Dis still shows accumulation. SKEW is at 131.72. Vix is at 18.59 and Vix futures is at 18.05.

The Week Ahead
The Vix and Vix futures have risen slightly and in backwardation. This is when the immediate volatility is higher than the near term future volatility. The other market internals continue to show strength. Skew is normal. The prognosis is for a short term pullback and a bullish market in the intermediate term.

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

Stocks Buy Watchlist
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Penny Stocks BreakOut
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To YOUR wealth!

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