Bursa KLCI

21 March 2018 – Oil surges, indices is sideways

Indices
Dow Transportation closed at 10657.73 with an inverted hammer candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 141.23. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

Dow Industrial closed at 24682.31 with a small bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 322.25. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Neutral/Sell.

Russell 2000 closed at 1579.30 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 17.34. BuySellTimer is in positive cycle. TSI is in a positive cycle and negative slope. Market direction – Buy/Buy.

Nasdaq 100 closed at 6853.45 with a spinning top doji candle below its 8 EMA, 21 EMA and above its 50 SMA. Daily trading range was 101.81. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction – Neutral/Sell.

S&P 500 closed at 2711.93 with a low closing doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 29.35. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Neutral/Sell.

Metals and Commodities
WTI Crude oil futures (CL) closed at $65.49 per barrel with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.97. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

Gold futures (GC) closed at 1332.5 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 27.4. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction – Buy/Buy. Gold is in a daily Squeeze.

Agriculture (DBA) ETF closed at 18.85 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.11. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

Commodities (DBC) ETF gapped up and closed at 16.94 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.24. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

Bonds
Bond futures (/ZB) closed at 143’24 with a high closing spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.219. BuySellTimer is in its negative cycle. TSI is in its negative cycle and positive slope. Market direction – Neutral/Sell.

High Yield bond ETF (HYG) closed at 85.65 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.29. 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 89.7. with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.767. TSI is in a negative cycle and negative slope. Market direction – Neutral/Sell.

EUR/USD closed at 1.2337 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0109. TSI is in a positive cycle and negative slope. Market direction – Neutral/Buy.

USD/JPY closed at 106.04 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.759. TSI is in a negative cycle and negative slope. Market direction – Neutral/Sell.

6S(Swiss Franc) – closed at 1.061 with a big bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.0085. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction is Neutral/Buy.

Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLI, XLY, XLF and XLK. 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 has turned bullish. Market breadth is sloping downwards which means more losers to gainers. Volume accumulation/distribution is sloping slightly downwards showing distribution. Vix is at 17.86 and Vix futures at 17.35. SKEW is at 133.69.

The Week Ahead
Market internals are showing some weakening. Skew is back to normal. Vix is above 17 showing continuing volatility and Vix futures is also forecasting continuing volatility. The prognosis is for the market to be volatile. It is likely we are in a transitional market.

Futures (daily chart):
ES – Intermediate Bearish. Short term Neutral/Sell. No Trade
NQ – Intermediate Bearish. Short term Neutral/Sell
YM – Intermediate Bearish. Short term Neutral/Sell. No Trade.
GC – Intermediate Bearish. Short term Buy/Buy. No Trade.
CL – Intermediate Bullish. Short term Buy/Buy.

Stocks Buy Watchlist
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Penny Stocks BreakOut
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To YOUR wealth!

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