Bursa KLCI

28 May 2018 – It is sideways and it continues ….

Indices
Dow Transportation closed at 10900.06 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 111.53. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Intermediate – Buy. Current – Buy/Buy. Negative divergence signal.

Dow Industrial closed at 24753.09 with a small doji candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 136.41. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Buy/Buy. Negative divergence signal.

Russell 2000 closed at 1626.9278 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 5.4. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy. Negative divergence signal.

Nasdaq 100 closed at 6960.9188 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 40.673. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy. Negative signal divergence.

S&P 500 closed at 2721.33 with a small doji candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 12.37. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction – Intermediate – Buy. Current – Buy/Buy.

Metals and Commodities
WTI Crude oil futures (CL) closed at $67.5 per barrel with a big bearish marubozu candle below its 8 EMA, 21 EMA and on its 50 SMA. Daily trading range was 3.38. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Gold futures (GC) closed at 1302.1 with a bearish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 5.8. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Neutral/Buy.

Agriculture (DBA) ETF closed at 19.36 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 gapped down and closed at 18.02 with a bearish marubozu candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.155. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Neutral/Sell.

Bonds
Bond futures (/ZB) closed at 143’10 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.8437. BuySellTimer is in its positive cycle. TSI is in its negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Buy/Buy.

High Yield bond ETF (HYG) closed at 85.56 with a small doji candle sandwiched between its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.175. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Sell/Buy.

Currencies
The dollar index ($DXY) closed at 94.253 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.547. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

EUR/USD closed at 1.1623 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.012. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

USD/JPY closed at 109.40 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.5949. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Sell/Sell.

6S(Swiss Franc) – closed at 1.0077 with a bearish candle sandwiched between its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.0026. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Buy/Buy.

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

Market Internals
Market sentiment is bullish. Market breadth is sloping upwards. Accumulation/Distribution is showing accumulation. Skew is at 140.78 which is normal. Vix is at 13.22 and Vix futures is at 14.42.

The Week Ahead
There are negative divergences appearing in the indices. Skew is climbing upwards. Vix and Vix futures is still relatively low. The prognosis is for the indices to experience a quick pullback this coming week.

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

 

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