Bursa KLCI

16 April 2018 – Earnings Season , Indices grind upwards

Indices
Dow Transportation gapped up and closed at 10610.18 with a bullish candle in a doji sandwich candle pattern above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 208.69. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction – Intermediate – Buy. Current – Buy/Buy.

Dow Industrial closed at 24573.04 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 195.16. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Russell 2000 closed at 1563.03 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 15.89. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Nasdaq 100 closed at 6675.1787 with a doji candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 66.68. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

S&P 500 closed at 2677.84 with a small bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 21.33. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction – Buy/Buy.

Metals and Commodities
WTI Crude oil futures (CL) closed at $66.34 per barrel with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.61. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Gold futures (GC) closed at 1348.9 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.7. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Agriculture (DBA) ETF closed at 18.85 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.18. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Commodities (DBC) ETF closed at 17.24 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.12. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Bonds
Bond futures (/ZB) closed at 145’17 with a small doji candle on its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.906. BuySellTimer is in its negative cycle. TSI is in its positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Neutral/Sell.

High Yield bond ETF (HYG) closed at 86.42 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.23. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Currencies
The dollar index ($DXY) closed at 89.764 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.461. TSI is in a negative cycle and negative slope. It has exited its Squeeze. Market direction: Intermediate – Sell. Current – Sell/Sell.

EUR/USD closed at 1.2378 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.007. TSI is in a positive cycle and positive slope. It is in a daily Squeeze. Market direction: Intermediate – Buy. Current – Buy/Buy.

USD/JPY closed at 107.10 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.5709. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

6S(Swiss Franc) – closed at 1.047 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0065. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/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.

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 bullish. Market breadth is sloping upwards which means more gainers to losers. Volume accumulation/distribution is sloping upwards showing accumulation. Vix is at 16.19 and Vix futures at 16.45. SKEW is at 131.47. The prognosis is for a continuation of this bullish market.

The Week Ahead
The indices have been grinding upwards and the Vix and Vix futures have been steadily dropping. .

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

Stocks Buy Watchlist
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Penny Stocks BreakOut
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To YOUR wealth!

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