Bursa KLCI

7 June 2018 – Are the indices about to roll over?

Indices
Dow Transportation closed at 10842.82 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 96.1. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope. Market direction – Intermediate – Buy. Current – Sell/Buy. Negative divergence signal. There is a daily and weekly Squeeze.

Dow Industrial closed at 25241.41 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 161.61. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy. It is in a weekly Squeeze.

Russell 2000 closed at 1667.7746 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 19.096. 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 7152.8302 with a bearish engulfing candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 96.58. 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 2770.37 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 19.74. 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 $65.95 per barrel with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.26. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Gold futures (GC) closed at 1301.3 with a low closing doji candle on its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 8.8. 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 18.58 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.31. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Commodities (DBC) ETF closed at 17.86 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.11. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Bonds
Bond futures (/ZB) closed at 143’15 with a bullish engulfing candle above its 8 EMA and 21 EMA and below its 50 EMA. Daily trading range was 2.156. BuySellTimer is in its positive cycle. TSI is in its positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

High Yield bond ETF (HYG) closed at 85.71 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.22. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Neutral/Buy. It is in a daily and weekly Squeeze.

Currencies
The dollar index ($DXY) closed at 93.466 with a bearish candle below its 8 EMA and on its 21 EMA and above its 50 SMA. Daily trading range was 0.381. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Neutral/Sell. Negative divergence.

EUR/USD closed at 1.1798 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA. Daily trading range was 0.0067. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Neutral/Buy.

USD/JPY closed at 109.68 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.743. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Neutral/Buy.

6S(Swiss Franc) – closed at 1.0204 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA. Daily trading range was 0.0079. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. 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 XLY, XLV, XLK, XLB, XLF, XLE and XLI.

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 remains bullish. Market breadth is sloping upwards showing nett gainers to losers. Accumulation/ Distribution is sloping upwards showing accumulation. Skew is at 133.84. Vix is at 12.13 and Vix futures is at 13.32.

The Week Ahead
Market internals continue to remain strong. Market breadth continues to show gainers to losers. Volume accumulation continues. Skew is normal. Vix and Vix futures is showing now fear. The prognosis is for a quick pullback before the market continues upwards.

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

 

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