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8 June 2018 – Weekly Review – Slow grind upwards


Indices (Weekly chart)
Dow Transportation closed at 10938.47 with a high closing spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 287.93. 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 25316.53.21 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 615.27. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction:- Intermediate Buy. Current – Neutral/Buy.

Russell 2000 closed at 1672.49 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 38.765. 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 7152.62 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 113.3613. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. It has just exited its weekly Squeeze. Market direction:- Intermediate term – Buy. Current – Buy/Buy.

S&P 500 closed at 2779.03 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 40.39. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. It is in a weekly Squeeze. Market direction. Intermediate term – Buy. Current – Buy/Buy.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $65.56 per barrel with a doji candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 2.02. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – Buy. Current – Sell/Sell.

Gold futures (GC) closed at 1303.5 with a bullish candle below its 8 EMA, 21 EMA and above its 50 SMA. Weekly trading range was 14.3. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. It is in a Squeeze. Market direction:- Intermediate Term – Sell. Current – Sell/Sell.

Agriculture (DBA) ETF closed at 18.77 with a big bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.83. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. It is in a weekly and monthly Squeeze. Market direction:- Intermediate Term – Sell. Short term – Sell/Sell.

Commodities (DBC) ETF closed at 17.85 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.28. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – Buy. Current – Buy/Buy. Negative divergence.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 143’01 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 2.156. BuySellTimer is in its negative cycle. TSI is in its negative cycle and positive slope. Market direction:- Intermediate Term – Sell. Current – Sell/Buy.

High Yield bond ETF (HYG) closed at 85.66 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 0.54. BuySellTimer is in a negative cycle. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Sell. Current – Sell/Sell.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 93.535 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.103. TSI is in a positive cycle and positive slope. Market direction:- Intermediate Term – Buy. Current – Buy/Buy.

EUR/USD closed at 1.1767 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0187. TSI is in a negative cycle and negative slope. Market direction:- Intermediate Term – Sell. Current – Sell/Sell.

USD/JPY closed at 109.50 with doji candle above its 8 EMA and 21 EMA and below its 50 SMA. Weekly trading range was 1.064. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Sell. Current – Buy/Buy.

6S (Swiss Franc) closed at 1.0165 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0105. BuySellTimer is in a positive cycle. TSI is in a negative cycle and negative slope. Market direction:- Intermediate Term – Sell. Current – Sell/Buy.

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

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 showing nett gainers to losers. Market Volume is sloping upwards showing accumulation. Skew is at 133.11. Vix is at 12.18 and Vix futures 13.35.

The Week Ahead
Market internals continue to show strength. Market sentiment is bullish, market breadth is showing nett gainers to nett losers, volume accumulation/distribution is showing accumulation.

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

Stocks Buy Watchlist
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Penny Stocks BreakOut
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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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