Bursa KLCI

29 March 2018 – A bounce or more to it – Transport leading the indices?

Indices
Dow Transportation closed at 10396.56 with a bullish and a morning star candle pattern below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 256.63. BuySellTimer is in its negative cycle. TSI is in a negative cycle and positive slope. Market direction – Neutral/Sell. Early Warnings – Morning Star candle pattern which could be a sign of a bullish movement.

Dow Industrial closed at 24103.11 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 386.17. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. Market direction – Sell/Sell. Early Warnings – The candle pattern is that of a “Morning Star” and the TSI is showing a positive divergence.

Russell 2000 closed at 1529.4267 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 26.71. BuySellTimer is in negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell. Early Warnings?

Nasdaq 100 gapped down and closed at 6581.1262 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 205.08. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell. Early Warnings?

S&P 500 closed at 2640.87 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 49.35. BuySellTimer is in its negative cycle. TSI is in a negative cycle and positive slope. Market direction – Sell/Sell.

Metals and Commodities
WTI Crude oil futures (CL) closed at $64.67 per barrel with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.41. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy.

Gold futures (GC) closed at 1329.6 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 7.2. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction – Neutral/Sell. Early warnings?

Agriculture (DBA) ETF closed at 18.81 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.23. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

Commodities (DBC) ETF closed at 16.98 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.2. 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 146’10 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.1562. BuySellTimer is in its positive cycle. TSI is in its positive cycle and positive slope. It has exited its Squeeze. Market direction – Buy/Buy.

High Yield bond ETF (HYG) closed at 85.64 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.31. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. Market direction – Buy/Buy.

Currencies
The dollar index ($DXY) closed at 90.019 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.279. TSI is in a negative cycle and positive slope. It is in a Squeeze. Market direction – Neutral/Buy.

EUR/USD closed at 1.231 with a small bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0051. TSI is in a negative cycle and nagative slope. It is in a Squeeze. Market direction – Neutral/Sell.

USD/JPY closed at 106.36 with a small doji candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.39. TSI is in a negative cycle and positive slope. It is in a Squeeze. Market direction – Buy/Buy.

6S(Swiss Franc) – closed at 1.0529 with a small spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.004. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. It is in a Squeeze. 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 XLU, XLP, XLF, XLE, XLK, XLI, XLV and XLY. respectively.

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

Market Internals
Market sentiment is bullish. Market breadth is sloping downwards which means more losers to gainers. Volume accumulation/distribution is sloping upwards showing accumulation. Vix is at 22.87 and Vix futures at 19.97. SKEW is at 119.34.

The Week Ahead
Market Sentiment has been flipping between bullish and bearish on the market the last week or so. Vix futures is lower than Vix which is indicating the investors are expecting the market to stabilise in the near future. Market internal is neither showing that investors are quite neutral at the moment and is neither buying or selling. The prognosis is further uncertainty in the market.

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 Neutral/Sell.
CL – Intermediate Bullish. Short term Buy/Buy.

Stocks Buy Watchlist
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Penny Stocks BreakOut
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