Bursa KLCI

8 March 2018 – Indices on the move upwards again?

Indices
Dow Transportation closed at 10465.63 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 152.4. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction – Buy/Buy.

Dow Industrial closed at 24895.21 with a spinning top doji 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 1571.97 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 15.90. BuySellTimer is in positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

Nasdaq 100 closed at 6966.43 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 39.65. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

S&P 500 closed at 2738.97 with a bullish candle above its 8 EMA and 21 EMA and on its 50 SMA. Daily trading range was 17.8. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction – Buy/Buy.

Metals and Commodities
WTI Crude oil futures (CL) closed at $60.33 per barrel with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.45. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

Gold futures (GC) closed at 1322.5 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.2. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell. Gold has exited its daily Squeeze.

Agriculture (DBA) ETF closed at 19.48 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.14. BuySellTimer is in a positive cycle. TSI is in a positive cycle and negative slope. Market direction – Buy/Buy.

Commodities (DBC) ETF closed at 16.51 with a bearish candle below its 8 EMA, 21 EMA and and 50 SMA. Daily trading range was 0.1273. 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 143’01 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 1. BuySellTimer is in its positive cycle. TSI is in its negative cycle and positive slope. Market direction – Buy/Buy.

High Yield bond ETF (HYG) closed at 85.76 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.19. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction – Sell/Buy.

Currencies
The dollar index ($DXY) closed at 90.119. with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.79. TSI is in a negative cycle and positive slope. Market direction – Buy/Buy.

EUR/USD closed at 1.2410 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.0147. TSI is in a positive cycle and negative slope. Market direction – Sell/Sell.

USD/JPY closed at 106.22 with a small bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.421. TSI is in a negative cycle and positive slope. Market direction – Sell/Neutral.

6S(Swiss Franc) – closed at 1.052 with a bearish candle below its 8 EMA and 21 EMA and 50 SMA. Daily trading range was 0.011. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction is Sell/Sell. Swiss franc has exited its 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 16.54 and Vix futures at 17.25. Skew is at 129.62.

The Week Ahead
Market internals are showing strength. Vix and Vix futures continue to come down. Skew is normal. Dow Transportation and Dow Industrial have been trading sideways and that is a cause for caution. The prognosis is for some caution in a slightly bullish market.

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