Bursa KLCI

24 April 2018 – A decisive move to the downside

Indices
Dow Transportation closed at 10400.10 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 374.69. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction – Intermediate – Sell. Current – Neutral/Sell.

Dow Industrial closed at 24024.13 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 751.21. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. The index is in a Squeeze. Market direction: Intermediate – Sell. Current – Sell/Sell.

Russell 2000 closed at 1553.2811 with a spinning top doji candle below its 8 EMA and on its 21 EMA and above its 50 SMA. Daily trading range was 32.1813. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Neutral/Sell.

Nasdaq 100 closed at 6509.04 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 224.1526. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

S&P 500 closed at 2634.56 with a big bearish candle sandwiched below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 66.23. BuySellTimer is in its negative cycle. TSI is in a negative cycle and positive slope. Market direction – Intermediate – Sell. Current – Sell/Sell.

Metals and Commodities
WTI Crude oil futures (CL) closed at $67.72 per barrel with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.84. BuySellTimer is in a positive cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Gold futures (GC) closed at 1332.2 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.9. 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 18.93 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.19. 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 – Neutral/Sell.

Commodities (DBC) ETF closed at 17.37 with a bearish candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.15. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Bonds
Bond futures (/ZB) closed at 142’11 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.2812. 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 85.49 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.39. 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 90.796 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.366. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/BUy.

EUR/USD closed at 1.2231 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0062. TSI is in a negative cycle and negative slope. It has exited its daily Squeeze. Market direction: Intermediate – Sell. Current – Sell/Sell.

USD/JPY closed at 108.80 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.669. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

6S(Swiss Franc) – closed at 1.026 with a small spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0045. 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, XLF, XLY, XLV, XLB and XLU.

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

Market Internals
Market sentiment is slightly bullish. Market breadth is sloping downwards which means more losers to gainers. Volume accumulation/distribution is sloping downwards showing distribution. Vix is at 18.02 and Vix futures at 17.81. SKEW is at 126.50.

The Week Ahead
Yield from the 10-year Treasury note touched 3% which spooked investors. Market internals are weakening. Vix and Vix futures are above 18 and 17 respectively but not extremely high. Skew is normal. The Vix and Vix futures readings are telling that investors had done some hedging to the downside. As such the decline may not be quick. The prognosis is for declines in the indices but at a slow and steady rate.

Futures Summary(daily chart):
ES – Intermediate Sell. Short term Sell/Sell. Squeeze. No trade. No divergence signal.
NQ – Intermediate Sell. Short term Sell/Sell. Squeeze. No trade. No divergence signal.
YM – Intermediate Sell. Short term Sell/Sell. Squeeze. No trade. No divergence signal.
GC – Intermediate Sell. Short term Sell/Sell. Squeeze. No trade. No divergence signal.
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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