Bursa KLCI

21 May 2018 – Indices grind upward, bond yields continue upwards as well

Indices
Dow Transportation closed at 10910.55 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 136.57. 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 24542.54 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 203.43. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Russell 2000 closed at 1637.442 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.2724. 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 6905.5323 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 71.92. BuySellTimer is in its negative cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

S&P 500 closed at 2733.01 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 13.49. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Intermediate – Buy. Current – Buy/Buy.

Metals and Commodities
WTI Crude oil futures (CL) closed at $72.66 per barrel with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.36. 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 1292 with a hammer candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.5. 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 gapped up and closed at 18.99 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.15. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Neutral/Buy.

Commodities (DBC) ETF closed at 18.29 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.1749. 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 141’11 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.7187. BuySellTimer is in its negative cycle. TSI is in its negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

High Yield bond ETF (HYG) closed at 85.52 with a bullish marubozu candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.13. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Sell/Sell.

Currencies
The dollar index ($DXY) closed at 93.539 with a bearish inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.546. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

EUR/USD closed at 1.1790 with a hammer candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0078. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

USD/JPY closed at 109.73 with a low closing spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.576. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

6S(Swiss Franc) – closed at 1.005 with a small doji candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.0032. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Neutral/Buy.

Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLI, XLE, XLK, XLB and XLF.

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

Market Internals
Market sentiment is rather bullish. Market breadth is sloping upwards meaning more gainers than losers. Market Volume is sloping upwards meaning accumulation. Skew is 134.02. Vix is at 13.08 and Vix futures is at 14.10.

The Week Ahead
Market internals are strong. Market sentiment is rather bullish. Skew is normal. Vix and Vix futures are below 15 which indicate that the market is wary but bullish. The prognosis is for a bullish bias.

Futures Summary(daily chart):
ES – Intermediate Buy. Short term Buy/Buy.
NQ – Intermediate Buy. Short term Buy/Buy. Weekly Squeeze.
YM – Intermediate Buy. Short term Buy/Buy.
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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