Bursa KLCI

20 April 2018 – Weekly Review – Is the market in a downtrending channel?


Indices (Weekly chart)
Dow Transportation closed at 10578.90 with a bullish inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 401.46. BuySellTimer is in its positive cycle. TSI is in its positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Sell/Buy.

Dow Industrial closed at 24462.94 with a low closing doji candle on its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 483.93. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Buy. Current – Sell/Buy.

Russell 2000 closed at 1564.1235 with a bullish inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 41.53. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. It is in a Squeeze. Market direction:- Intermediate – Buy, Current – Buy/Buy.

Nasdaq 100 closed at 6667.751 with a low closing doji candle on its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 223.877. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate term – Buy. Current – Neutral/Sell.

S&P 500 closed at 2670.14 with a low closing doji candle on its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 56.88. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope. Market direction. Intermediate term – Buy. Current – Sell/Sell.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $68.06 per barrel with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 3.99. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction:- Intermediate Term – Buy. Current – Buy/Buy.

Gold futures (GC) closed at 1337.6 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 22. BuySellTimer is in a positive cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – Buy. Current – Buy/Buy.

Agriculture (DBA) ETF closed at 18.85 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.36. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction:- Intermediate Term – Buy. Short term – Neutral/Sell. It is in a monthly Squeeze.

Commodities (DBC) ETF closed at 17.47 with a bullish spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.46. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction:- Intermediate Term – Buy. Current – Buy/Buy.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 142’30 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 3.1562. BuySellTimer is in its negative cycle. TSI is in its negative cycle and negative slope. Market direction:- Intermediate Term – Sell. Current – Sell/Sell.

High Yield bond ETF (HYG) closed at 85.89 with a bearish marubozu candle on its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 0.79. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Sell. Current – Sell/Sell.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 90.264 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 1.248. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Sell. Current – Neutral/Buy.

EUR/USD closed at 1.2289 with a bearish spinning top doji candle on its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 0.0163. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – Buy. Current – Neutral/Sell.

USD/JPY closed at 107.62 with a small spinning top doji candle above its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 0.9719. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Sell. Current – Neutral/Buy.

6S (Swiss Franc) closed at 1.0301 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0202. BuySellTimer is a negative cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – 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, XLY, XLI, XLF 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, XLU, XLY and XLI 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 133.07. Vix is at 16.88 and Vix futures is at 17.05.

The Week Ahead
Market internals are showing a weakening in the market. Vix and Vix futures are in the midrange between 16 and 18 which indicate more volatility. The prognosis is for more volatility in the indices as it is also now news driven.

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