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2 March 2018 – Weekly Review – Market Volatility continues


Indices (Weekly chart)
Dow Transportation closed at 10332.98 with a bearish candle just below its 8 EMA, 21 EMA and above its 50 SMA. Weekly trading range was 676.6. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction is Neutral/Bearish.

Dow Industrial closed at 24538.06 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 1582.59. BuySellTimer is in positive cycle. TSI is in a positive cycle and negative slope. Market direction is Neutral/Neutral.

Russell 2000 closed at 1533.17 with a bearish candle below its 8 EMA and above 21 EMA and 50 SMA. Weekly trading range was . BuySellTimer is in negative cycle. TSI is in a positive cycle and negative slope. Market direction is Neutral/Neutral.

Nasdaq 100 closed at 6811.04 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 358.1. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope. Market direction is Buy/Buy.

S&P 500 closed at 2691.25 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 141.83. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope. Market direction is Neutral/Neutral.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $61.45 per barrel with a bearish candle below its 8 EMA and above 21 EMA and 50 SMA. Weekly trading range was 4.11. BuySellTimer is in a positive cycle. TSI is in a positive cycle and negative slope. Market direction is Neutral/Neutral.

Gold futures (GC) closed at 1323.7 with a spinning top doji candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 39.3. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction is Neutral/Neutral.

Agriculture (DBA) ETF closed at 19.39 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.4. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction is Buy/Buy. It is in a weekly Squeeze.

Commodities (DBC) ETF closed at 16.63 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 0.55. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction is Neutral/Neutral.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 143’09 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 2.5. BuySellTimer is in its negative cycle. TSI is in its negative cycle and negative slope. Market direction is Sell/Sell.

High Yield bond ETF (HYG) closed at 85.75 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.41. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction is Sell/Sell.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 89.977 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.429. TSI is in a negative cycle and positive slope. Market direction is Sell/Sell.

EUR/USD closed at 1.2316 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.02. TSI is in a positive cycle and negative slope. Market direction is Buy/Buy.

USD/JPY closed at 105.73 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 2.425. TSI is in a negative cycle and negative slope. Market direction is Sell/Sell.

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

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

Market Internals
Market Sentiment is bearish. Market Breadth is sloping slightly downwards showing nett losers to gainers. Volumetric Acc/Dis is sloping downwards and showing distribution. SKEW is at 127.48. Vix is at 19.59 and Vix futures is at 19.11.

The Week Ahead
The market continues to be volatile. The market has been impacted by news event which has increased its volatility. Market internals has deteriorated slightly and the overall world economy could be impacted by trade disputes. The prognosis is for further volatility and selling pressure.

Futures (Daily Chart):
ES – Sell/Sell
NQ – Neutral/Neutral
GC – Sell/Sell
CL – Sell/Sell

Stocks Buy Watchlist
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Penny Stocks BreakOut
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To YOUR wealth!

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