Bursa KLCI

1 May 2018 – Indecisive market continues

Indices
Dow Transportation closed at 10388.39 with a hammer candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 144.11. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction – Intermediate – Sell. Current – Sell/Sell.

Dow Industrial closed at 24099.05 with a dragonfly doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 309.1. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope and flat. The index is in a Squeeze. Market direction: Intermediate – Sell. Current – Sell/Sell.

Russell 2000 closed at 1550.342 with a bullish candle below its 8 EMA and 21 EMA and on its 50 SMA. Daily trading range was 23.145. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Nasdaq 100 closed at 6681.9607 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA. Daily trading range was 107.15. BuySellTimer is in its negative cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Buy/Buy.

S&P 500 closed at 2654.80 with a bullish hammer candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 29.86. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Intermediate – Sell. Current – Sell/Sell.

Metals and Commodities
WTI Crude oil futures (CL) closed at $67.5 per barrel with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.25. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Neutral/Sell.

Gold futures (GC) closed at 1304.6 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 15.1. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Agriculture (DBA) ETF closed at 19.48 with a big bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.26. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Commodities (DBC) ETF closed at 17.46 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.13. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Bonds
Bond futures (/ZB) closed at 143’10 with a doji candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.6562. BuySellTimer is in its positive cycle. TSI is in its negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Sell/Buy.

High Yield bond ETF (HYG) gapped down and closed at 85.40 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.22. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Currencies
The dollar index ($DXY) closed at 92.457 with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.767. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

EUR/USD closed at 1.1991 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0102. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

USD/JPY closed at 109.85 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.65. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

6S(Swiss Franc) – closed at 1.0073 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0068. 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, XLY, XLK, XLU and XLV.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLK, XLU and XLY 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 15.49 and Vix futures at 16.50. SKEW is at 128.21.

The Week Ahead
The indices continue to be volatile. Market internals are showing weakness. Skew is normal. Vix and Vix futures are normal and is neither low nor high. The prognosis is for more sideways action.

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

Stocks Buy Watchlist
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Penny Stocks BreakOut
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