Bursa KLCI

23 April 2018 – The indecision continues – Dollar strengthens

Indices
Dow Transportation closed at 10621.15 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 97.68. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Intermediate – Buy. Current – Buy/Buy.

Dow Industrial closed at 24448.69 with a small spinning top doji candle sandwiched between its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 208.35. BuySellTimer is in a negative cycle. TSI is in a positive cycle and positive slope. The index is in a Squeeze. Market direction: Intermediate – Sell. Current – Neutral/Sell.

Russell 2000 closed at 1562.1202 with a doji candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 15.203. BuySellTimer is in a negative cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Sell. Current – Buy/Buy.

Nasdaq 100 closed at 6648.80 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 108.1006. BuySellTimer is in its negative cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Neutral/Sell.

S&P 500 closed at 2670.29 with a small spinning top doji candle sandwiched between its 8 EMA, 21 EMA and below its 50 SMA. Daily trading range was 24.87. BuySellTimer is in its negative cycle. TSI is in a negative cycle and positive slope. Market direction – Intermediate – Sell. Current – Neutral/Sell.

Metals and Commodities
WTI Crude oil futures (CL) closed at $68.92 per barrel with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.89. 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 1328.7 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 13.8. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. The index is in a Squeeze. Market direction: Intermediate – Sell. Current – Sell/Sell.

Agriculture (DBA) ETF closed at 18.79 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.12. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. It is in a Squeeze. Market direction: Intermediate – Sell. Current – Sell/Sell.

Commodities (DBC) ETF closed at 17.46 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.17. BuySellTimer is in its negative cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Bonds
Bond futures (/ZB) closed at 142’30 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.7812. BuySellTimer is in its negative cycle. TSI is in its negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

High Yield bond ETF (HYG) closed at 85.66 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.26. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Neutral/Sell.

Currencies
The dollar index ($DXY) closed at 90.929 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.665. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/BUy.

EUR/USD closed at 1.2208 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0092. TSI is in a negative cycle and negative slope. It is in a daily Squeeze. Market direction: Intermediate – Sell. Current – Sell/Sell.

USD/JPY closed at 108.69 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.0909. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

6S(Swiss Franc) – closed at 1.0271 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0042. 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, XLY, XLI and XLF.

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

Market Internals
Market sentiment is bullish. Market breadth is sloping downwards which means more losers to gainers. Volume accumulation/distribution is sloping downwards showing distribution. Vix is at 16.34 and Vix futures at 16.70. SKEW is at 126.48.

The Week Ahead
10-year bond futures has been moving steadily down and the yield is now at 2.973. This is having a big impact on the Equity market. Although the companies are reporting record profits, the market has not been moving up. This is because all these good earnings have already been baked into the current price. The cost to borrow money keeps increasing which makes the equity market unattractive. The prognosis is that the market will continue to experience selling.

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

Stocks Buy Watchlist
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Penny Stocks BreakOut
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