Indices
Dow Transportation closed at 10727.35 with a hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 96.52. BuySellTimer is in its negative cycle. TSI is in a positive cycle and positive slope. Market direction – Intermediate – Buy. Negative divergence signal. Current – Buy/Buy.
Dow Industrial closed at 24886.81 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 24886.81. BuySellTimer is in a negative cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.
Russell 2000 closed at 1627.6092 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.841. 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 6953.6307 with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 107.76. 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 2733.29 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 23.79. 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 $72.13 per barrel with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.07. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Buy/Buy.
Gold futures (GC) closed at 1294.5 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.7. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Sell/Buy.
Agriculture (DBA) ETF closed at 19.29 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.18. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.
Commodities (DBC) ETF closed at 18.41 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.20. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.
Bonds
Bond futures (/ZB) closed at 142’14 with a bullish candle above its 8 EMA and on its 21 EMA and below its 50 SMA. Daily trading range was 1.28. BuySellTimer is in its positive cycle. TSI is in its negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Neutral/Buy.
High Yield bond ETF (HYG) closed at 85.65 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.26. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Neutral/Buy.
Currencies
The dollar index ($DXY) closed at 93.947 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.674. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.
EUR/USD closed at 1.1695 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0113. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.
USD/JPY closed at 110.06 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 1.3559. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Sell/Sell.
6S(Swiss Franc) – closed at 1.0063 with a bearish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.0085. 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 XLK, XLI, XLE, XLF and XLB.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLK, XLY, XLB and XLI respectively.
Market Internals
Market sentiment is bullish. Market breadth is sloping upwards. Accumulation/Distribution is showing accumulation. Skew is at 135.61 which is normal. Vix is at 12.58 and Vix futures is at 14.17.
The Week Ahead
The upward momentum appears to have stalled. Market sentiment is not as bullish. Market internals are still strong. Vix and Vix futures are not showing sign of fear. The prognosis is for a sideways market.
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/Buy. Weekly Squeeze.
CL – Intermediate Buy. Short term Buy/Buy.
To YOUR wealth!
Would you like to learn to trade stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
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23 May – Lacklustre market, sideways action
Indices
Dow Transportation closed at 10727.35 with a hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 96.52. BuySellTimer is in its negative cycle. TSI is in a positive cycle and positive slope. Market direction – Intermediate – Buy. Negative divergence signal. Current – Buy/Buy.
Dow Industrial closed at 24886.81 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 24886.81. BuySellTimer is in a negative cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.
Russell 2000 closed at 1627.6092 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.841. 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 6953.6307 with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 107.76. 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 2733.29 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 23.79. 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 $72.13 per barrel with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.07. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Buy/Buy.
Gold futures (GC) closed at 1294.5 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.7. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Sell/Buy.
Agriculture (DBA) ETF closed at 19.29 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.18. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.
Commodities (DBC) ETF closed at 18.41 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.20. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.
Bonds
Bond futures (/ZB) closed at 142’14 with a bullish candle above its 8 EMA and on its 21 EMA and below its 50 SMA. Daily trading range was 1.28. BuySellTimer is in its positive cycle. TSI is in its negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Neutral/Buy.
High Yield bond ETF (HYG) closed at 85.65 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.26. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Neutral/Buy.
Currencies
The dollar index ($DXY) closed at 93.947 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.674. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.
EUR/USD closed at 1.1695 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0113. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.
USD/JPY closed at 110.06 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 1.3559. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Sell/Sell.
6S(Swiss Franc) – closed at 1.0063 with a bearish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.0085. 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 XLK, XLI, XLE, XLF and XLB.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLK, XLY, XLB and XLI respectively.
Market Internals
Market sentiment is bullish. Market breadth is sloping upwards. Accumulation/Distribution is showing accumulation. Skew is at 135.61 which is normal. Vix is at 12.58 and Vix futures is at 14.17.
The Week Ahead
The upward momentum appears to have stalled. Market sentiment is not as bullish. Market internals are still strong. Vix and Vix futures are not showing sign of fear. The prognosis is for a sideways market.
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/Buy. Weekly Squeeze.
CL – Intermediate Buy. Short term Buy/Buy.
To YOUR wealth!
Would you like to learn to trade stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
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