Bursa KLCI

2 March 2018 – China imposes tariffs, market came tumbling down

Indices
Dow Transportation closed at 10190.57 with a bearish and a reverse trend candle pattern below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 343.42. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell. Early Warnings – Index is bearish.

Dow Industrial closed at 23644.19 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 779.28. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell. Early Warnings – .

Russell 2000 closed at 1492.5305 with a big bearish 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 6390.8369 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 238.35. 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 2581.88 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 84.5. 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 $62.85 per barrel with a big bearish candle below its 8 EMA, 21 EMA and on its 50 SMA. Daily trading range was 2.62. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction – Sell/Sell.

Gold futures (GC) closed at 1345.4 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 20.2. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction – Buy/Buy. Early warnings?

Agriculture (DBA) ETF closed at 18.71 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.245. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Sell/Sell.

Commodities (DBC) ETF closed at 16.75 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.205. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction – Sell/Sell.

Bonds
Bond futures (/ZB) closed at 146’270 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.125. 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 84.96 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.375. 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 89.992 with a small bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.3319. TSI is in a negative cycle and positive slope. It is in a Squeeze. Market direction – Buy/Buy.

EUR/USD closed at 1.2301 with a small bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0019. TSI is in a positive cycle and nagative slope. It is in a Squeeze. Market direction – Sell/Sell.

USD/JPY closed at 105.88 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.795. TSI is in a negative cycle and positive slope. It is in a Squeeze. Market direction – Buy/Buy.

6S(Swiss Franc) – closed at 1.0537 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0041. 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, XLE, XLF, XLI and XLK.

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

Market Internals
Market sentiment is bearish. Market breadth is sloping downwards which means more losers to gainers. Volume accumulation/distribution is sloping downwards showing distribution. Vix is at 22.87 and Vix futures at 23.62. SKEW is at 119.68.

The Week Ahead
Market Sentiment is bearish and is spending more time being bearish. Market internals are weakening. Skew is normal. The Linear Regression Channel is showing a downtrending channel. The prognosis is for continued bearishness.

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

Stocks Buy Watchlist
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Penny Stocks BreakOut
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