Bursa KLCI

1 June 2018 – Weekly Review – Tariffs, Bond Yields and Employment


Indices (Weekly chart)
Dow Transportation closed at 10893.97 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 263.8. BuySellTimer is in its positive cycle. TSI is in its positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Dow Industrial closed at 24635.21 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 466.64. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Sell. Current – Sell/Buy.

Russell 2000 closed at 1647.9834 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 39.79. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. It has exited its Squeeze. Market direction:- Intermediate – Buy, Current – Buy/Buy.

Nasdaq 100 closed at 7083.9252 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 197.7165. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction:- Intermediate term – Buy. Current – Buy/Buy.

S&P 500 closed at 2734.62 with a bullish candle above its 8 EMA, 21 EMA and its 50 SMA. Weekly trading range was 60.12. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction. Intermediate term – Buy. Current – Neutral/Buy.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $65.71 per barrel with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 3.16. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – Buy. Current – Neutral/Sell.

Gold futures (GC) closed at 1297.9 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 18.4. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – Sell. Current – Neutral/Sell.

Agriculture (DBA) ETF closed at 19.14 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.34. BuySellTimer is in a positive cycle. TSI is in a positive 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 17.91 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.38. 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 143’26 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 3.4375. BuySellTimer is in its positive cycle. TSI is in its negative cycle and positive slope. Market direction:- Intermediate Term – Sell. Current – Neutral/Buy.

High Yield bond ETF (HYG) closed at 85.19 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.4. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction:- Intermediate Term – Sell. Current – Sell/Sell.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 94.156 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.308. TSI is in a positive cycle and positive slope. Market direction:- Intermediate Term – Buy. Current – Buy/Buy.

EUR/USD closed at 1.1658 with a big high closing spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0218. TSI is in a negative cycle and negative slope. Market direction:- Intermediate Term – Sell. Current – Sell/Sell.

USD/JPY closed at 109.50 with a hammer candle above its 8 EMA and 21 EMA and below its 50 SMA. Weekly trading range was 1.721. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Sell. Current – Neutral/Buy.

6S (Swiss Franc) closed at 1.0131 with a bullish 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 XLK and XLI respectively.

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

Market Internals
Market Sentiment is bullish. Market Breadth is sloping upwards showing nett gainers to losers. Market Volume is sloping upwards showing accumulation. Skew is at 134.53. Vix is at 13.46 and Vix futures 14.40.

The Week Ahead
The indices have been resilient during the week. Market internals are still showing strength. Skew is normal. Vix is back below 14 and Vix futures are below 15. The prognosis is for a slow grind upwards.

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

Stocks Buy Watchlist
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Penny Stocks BreakOut
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To YOUR wealth!

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