Bursa KLCI

22 March 2018 – Market tumbles on fear of Trade War

Indices
Dow Transportation closed at 10353.46 with a big bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 266.01. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction – Neutral/Sell.

Dow Industrial gapped down and closed at 23957.89 with a big bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 587.27. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

Russell 2000 closed at 1543.8719 with a big bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 32.72. BuySellTimer is in negative cycle. TSI is in a positive cycle and negative slope. Market direction – Neutral/Sell.

Nasdaq 100 gapped down and closed at 6682.2552 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 130.59. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction – Sell/Sell.

S&P 500 closed at 2643.69 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 54.09. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

Metals and Commodities
WTI Crude oil futures (CL) closed at $64.21 per barrel with a bearish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.6. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

Gold futures (GC) closed at 1328.9 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 10.4. 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 16.81 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.086. 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 144’28 with a big bullish candle above its 8 EMA, 21 EMA and below its 50 SMA. Daily trading range was 1.81. 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 85.14 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.45. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction – Sell/Sell.

Currencies
The dollar index ($DXY) closed at 89.815 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.564. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

EUR/USD closed at 1.2301 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0102. TSI is in a positive cycle and negative slope. Market direction – Neutral/Sell.

USD/JPY closed at 105.26 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.819. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

6S(Swiss Franc) – closed at 1.0613 with a doji candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.006. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction is Buy/Buy.

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

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

Market Internals
Market sentiment has turned bearish. Market breadth is sloping downwards which means more losers to gainers. Volume accumulation/distribution is sloping downwards showing distribution. Vix is at 23.34 and Vix futures at 19.95. SKEW is at 131.52.

The Week Ahead
Market internals are weakening. Skew is back to normal. Vix is above 23 which means that investors are hedging. Vix futures are forecasting a more stable near term market. The prognosis is for the market to continue to be volatile.

Futures (daily chart):
ES – Intermediate Bearish. Short term Sell/Sell.
NQ – Intermediate Bearish. Short term Sell/Sell.
YM – Intermediate Bearish. Short term Sell/Sell.
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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