Bursa KLCI

15 June 2018 – Tariffs and good economic figures, indices push upwards


Indices (Weekly chart)
Dow Transportation closed at 11073.99 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 212.72. 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 25090.48 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 508.45. 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 1683.908 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 18.12. 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 7255.7558 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 145.22. 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 2779.66 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 29.74. 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 $64.19 per barrel with a bearish inverted hammer candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 2.87. 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 1282.0 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 35.1. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. It is in a Squeeze. Market direction:- Intermediate Term – Sell. Current – Sell/Sell.

Agriculture (DBA) ETF closed at 18.46 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.58. 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 17.27 with a bearish marubozu candle below its 8 EMA and on its 21 EMA and above its 50 SMA. Weekly trading range was 0.69. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction:- Intermediate Term – Buy. Current – Sell/Sell. Negative divergence.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 143’22 with a bullish candle on its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 2.25. 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 86.12 with a bullish marubozu candle above its 8 EMA and 21 EMA and below its 50 SMA. Weekly trading range was 0.5. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Sell. Current – Buy/Buy.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 94.788 with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.938. TSI is in a positive cycle and positive slope. Market direction:- Intermediate Term – Buy. Current – Buy/Buy.

EUR/USD closed at 1.1609 with a big bearish engulfing candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0308. TSI is in a negative cycle and negative slope. Market direction:- Intermediate Term – Sell. Current – Sell/Sell.

USD/JPY closed at 110.65 with big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.5909. TSI is in a negative cycle and positive slope. Market direction:- Intermediate Term – Buy. Current – Buy/Buy.

6S (Swiss Franc) closed at 1.0102 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0152. 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 XLY, XLV, XLP 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 has flattened. Market Volume is sloping downwards showing distribution. Skew is at 140.92. Vix is at 11.98 and Vix futures 12.60.

The Week Ahead
Market Internals is weakening. Market sentiment remains bullish. Market breadth has flattened. Volume accumulation/distribution is showing distribution. Vix remains low and SKEW is high but not over the threshold of 142. The prognosis is for a volatile week ahead as the market will be news driven to the imposition of tariffs.

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