Bursa KLCI

13 April 2018 – Uncertainty in market


Indices (Weekly chart)
Dow Transportation closed at 10369.49 with a bullish candle on its 8 EMA and below its 21 EMA and above its 50 SMA. Weekly trading range was 360.3. BuySellTimer is in its negative cycle. TSI is in its positive cycle and negative slope. Market direction: Intermediate – Buy. Short term – Sell/Sell.

Dow Industrial closed at 24360.14 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 691.62. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Buy, Short term – Sell/Buy.

Russell 2000 closed at 1549.51 with a bullish marubozu candle above its 8 EMA and 21 EMA and 50 SMA. Weekly trading range was 49.85. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. It is in a Squeeze. Market direction:- Intermediate – Buy, Short term – Sell/Buy.

Nasdaq 100 closed at 6628.3424 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 237.28. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate term – Buy. Short term Sell/Sell.

S&P 500 closed at 2656.30 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 69.47. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction. Intermediate term – Sell. Short term -Sell/Sell.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $67.39 per barrel with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 5.83. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction:- Intermediate Term – Buy, Short Term – Buy/Buy.

Gold futures (GC) closed at 1348.6 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 39.3. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction:- Intermediate Term – Buy, Short Term – Buy/Buy.

Agriculture (DBA) ETF closed at 18.91 with a small spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.295. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Sell. Short term – Sell/Sell. It is in a weekly Squeeze.

Commodities (DBC) ETF closed at 17.30 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.605. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction:- Intermediate Term – Buy, Short Term – Buy/Buy.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 145’16 with a bearish doji candle on its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 1.781. BuySellTimer is in its negative cycle. TSI is in its negative cycle and positive slope. Market direction:- Intermediate Term – Sell, Short Term – Sell/Buy.

High Yield bond ETF (HYG) closed at 86.29 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 1. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Sell, Short Term – Neutral/Buy.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 89.770 with a small bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.918. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Neutral. Short Term – Sell/Sell.

EUR/USD closed at 1.2329 with a small spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0135. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – Neutral, Short Term – Buy/Buy.

USD/JPY closed at 107.34 with a bullish ‘rolling pin’ candle above its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 1.165. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Neutral. Short Term – Neutral/Buy.

6S (Swiss Franc) closed at 1.0445 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Week trading range was 0.0127. BuySellTimer is a negative cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – Neutral, Short Term – Neutral/Sell.

Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLB and XLK respectively.

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

Market Internals
Market Sentiment is slightly bullish. Market breadth is sloping downwards which means there are more losers to gainers. Volumetric Acc/Dis is sloping downwards indicating distribution. SKEW is at 126.00. Vix is at 17.41 and Vix futures is at 17.92.

The Week Ahead
Market Sentiment indicates the market the uncertainly in the market. The market internals measuring market breadth is showing more losers to gainers and there are distribution going on. These typically tells us that there is little confidence in this market and it is prone to big sell-off. The prognosis is for greater uncertainties amidst the threat of trade wars and actual war in the middle east.

Futures (Daily Chart):
ES – Intermediate Term – Sell. Short Term – Sell/Buy.
NQ – Intermediate Term – Sell. Short Term – Sell/Sell.
YM – Intermediate Term – Sell. Short Term – Sell/Buy.
GC – Intermediate Term – Buy. Short Term – Buy/Buy.
CL – Intermediate Term – Buy. Short Term – Sell/Sell.

Stocks Buy Watchlist
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Penny Stocks BreakOut
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