Bursa KLCI

4 May 2018 – Weekly Review – Indices close at high


Indices (Weekly chart)
Dow Transportation closed at 10370.23 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA. Weekly trading range was 536.5. BuySellTimer is in its negative cycle. TSI is in its positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Dow Industrial closed at 24262.51 with a high closing spinning top doji candle below its 8 EMA, 21 EMA and above its 50 SMA. Weekly trading range was 966.92. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Sell. Current – Sell/Sell.

Russell 2000 closed at 1565.60 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 45.05. 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 6769.116 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 243.49. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate term – Buy. Current – Neutral/Buy.

S&P 500 closed at 2663.42 with a high closing doji candle on its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 70.88. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction. Intermediate term – Sell. Current – Sell/Sell.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $69.79 per barrel with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 3.12. 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 1316.0 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 23.6. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – Sell. Current – Sell/Sell.

Agriculture (DBA) ETF closed at 19.32 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.35. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. It is in a weekly and monthly Squeeze. Market direction:- Intermediate Term – Buy. Short term – Buy/Buy.

Commodities (DBC) ETF closed at 17.69 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.35. 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 143’16 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.5625. 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 85.42 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.69. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction:- Intermediate Term – Sell. Current – Sell/Buy.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 92.569 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Weekly trading range was 1.418. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Buy. Current – Buy/Buy.

EUR/USD closed at 1.1964 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 0.0233. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – Sell. Current – Sell/Sell.

USD/JPY closed at 109.11 with a doji candle above its 8 EMA and 21 EMA and below its 50 SMA. Weekly trading range was 1.387. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Sell. Current – Neutral/Buy.

6S (Swiss Franc) closed at 1.0032 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0156. BuySellTimer is in a negative cycle. TSI is in a negative 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, XLK, XLU, XLY, XLI and XLF respectively.

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 bullish. Market breadth is sloping slightly upwards which means there are more gainers to losers. Volumetric Acc/Dis is sloping downwards indicating distribution. SKEW is at 127.37. Vix is at 14.77 and Vix futures is at 15.85.

The Week Ahead
Market closed on a positive note on Friday. Market sentiment is bullish again. Market internals are mixed. Skew is normal. Vix and Vix futures have been coming down which would indicate more support for the bulls. The prognosis for the bulls to move the indices further up earlier in the week and close lower by the end of the week.

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