Bursa KLCI

7 March 2018 – A drop and recovery in the indices

Indices
Dow Transportation closed at 10408.88 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 99.94. BuySellTimer is in its negative cycle. TSI is in a negative cycle and positive slope. Market direction – Neutral/Sell.

Dow Industrial closed at 24801.36 with a “hammer” candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 314.56. BuySellTimer is in negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

Russell 2000 closed at 1574.53 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 26.27. BuySellTimer is in positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

Nasdaq 100 closed at 6929.39 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 84.57. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

S&P 500 closed at 2726.80 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 28.86. BuySellTimer is in its negative cycle. TSI is in a negative cycle and positive slope. Market direction – Neutral/Neutral.

Metals and Commodities
WTI Crude oil futures (CL) closed at $61.35 per barrel with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 2. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

Gold futures (GC) closed at 1326.3 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 19. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell. Gold is in its daily Squeeze.

Agriculture (DBA) ETF gapped downp and closed at 19.42 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.155. BuySellTimer is in a positive cycle. TSI is in a positive cycle and negative slope. Market direction – Buy/Buy.

Commodities (DBC) ETF closed at 16.61 with a bearish candle below its 8 EMA, 21 EMA and and 50 SMA. Daily trading range was 0.255. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

Bonds
Bond futures (/ZB) closed at 143’04 with a low closing spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1. 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 85.66 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.205. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

Currencies
The dollar index ($DXY) closed at 89.593. with a small spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.372. TSI is in a negative cycle and negative slope. Market direction – Neutral/Sell.

EUR/USD closed at 1.2410 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.006. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

USD/JPY closed at 106.05 with a high closing doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.77. TSI is in a negative cycle and positive slope. Market direction – Sell/Neutral.

6S(Swiss Franc) – closed at 1.0609 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.0097. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction is Sell/Sell. Swiss franc is in a Squeeze.

Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK 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 remains bullish. Market breadth is sloping upwards showing nett gainers to decliners. Volume accumulation/distribution is sloping upwards showing accumulation. Vix is at 18.73 and Vix futures at 17.76. Skew is at 128.17.

The Week Ahead
Market internals remain strong. Vix and Vix futures are coming down and they indicates that market volatility is coming down. Skew is normal. The prognosis is for continuing strength in the market internals.

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

Stocks Buy Watchlist
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Penny Stocks BreakOut
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