Bursa KLCI

8 May 2018 – Is a breakout imminent in the indices?

Indices
Dow Transportation closed at 10360.21 with a bullish candle above its 8 EMA and 21 EMA and on its 50 SMA. Daily trading range was 159.94. BuySellTimer is in its positive cycle. TSI is in a negative cycle and negative slope. Market direction – Intermediate – Buy. Current – Buy/Buy.

Dow Industrial closed at 24360.21 with a small doji candle above its 8 EMA, 21 EMA and below its 50 SMA. Daily trading range was 214. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. The index has exited its Squeeze. Market direction: Intermediate – Buy. Current – Buy/Buy.

Russell 2000 closed at 1586.3924 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 9.6981. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Nasdaq 100 closed at 6815.4826 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 60.57. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

S&P 500 closed at 2671.92 with a small doji candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 21.14. BuySellTimer is in its negative cycle. TSI is in a negative cycle and positive slope. It is in a Squeeze. Market direction – Intermediate – Buy. Current – Buy/Buy.

Metals and Commodities
WTI Crude oil futures (CL) closed at $70.04 per barrel with a big doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 2.77. 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.

Gold futures (GC) closed at 1315 with a big spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 12.3. 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 19.19 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.1. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Neutral/Sell.

Commodities (DBC) ETF closed at 17.73 with a big hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.15. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Bonds
Bond futures (/ZB) closed at 143’07 with a small bearish 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 85.37 with a small bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.16. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Buy. Current – Sell/Sell.

Currencies
The dollar index ($DXY) closed at 93.082 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.626. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

EUR/USD closed at 1.1863 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.01. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

USD/JPY closed at 109.11 with a doji candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.523. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

6S(Swiss Franc) – closed at 1.0013 with a small spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0041. 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, XLK, XLI, XLF and XLY.

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

Market Internals
Market sentiment is bullish. Market breadth is sloping upwards meaning more gainers than losers. Market Volume is sloping upwards meaning accumulation. Skew is 125.10. Vix is at 14.71 and Vix futures is at 15.85. Both continues to drop.

The Week Ahead
With the market sentiment being bullish and market internals looking strong and Vix and Vix futures decreasing and Skew is normal, the prognosis is for a slow grind upwards in the indices.

Futures Summary(daily chart):
ES – Intermediate Buy. Short term Buy/Buy. Daily Squeeze.
NQ – Intermediate Buy. Short term Buy/Buy. Daily and Weekly Squeeze.
YM – Intermediate Buy. Short term Buy/Buy. Daily Squeeze.
GC – Intermediate Sell. Short term Sell/Sell. Weekly Squeeze.
CL – Intermediate 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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