Bursa KLCI

18 June 2018 – Indices rolling over?

Indices
Dow Transportation closed at 11049.85 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 139.54. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Intermediate – Buy. Current – Buy/Buy. It is a daily and weekly Squeeze.

Dow Industrial gapped down and closed at 24987.47 with a hammer candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 177.33. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Neutral/Sell. It is in a weekly Squeeze.

Russell 2000 closed at 1692.46 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 18.05. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy. There is a negative divergence.

Nasdaq 100 closed at 7251.41 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 70.27. BuySellTimer is in its positive cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Buy/Buy. There is a negative divergence.

S&P 500 closed at 2773.75 with a bullish candle on its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 17.87. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction – Intermediate – Buy. Current – Neutral/Sell. It is in a weekly Squeeze.

Metals and Commodities
WTI Crude oil futures (CL) closed at $65.68 per barrel with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 2.42. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Gold futures (GC) closed at 1280.6 with a small doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 5.4. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Agriculture (DBA) ETF closed at 18.28 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.15. 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 17.42 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.14. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Bonds
Bond futures (/ZB) closed at 143’23 with a doji candle above its 8 EMA, 21 EMA and 50 EMA. Daily trading range was 0.6562. BuySellTimer is in its positive cycle. TSI is in its positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

High Yield bond ETF (HYG) closed at 86.11 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.15. 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.

Currencies
The dollar index ($DXY) closed at 94.76 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.35. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Neutral/Buy.

EUR/USD closed at 1.16291 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0288. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

USD/JPY closed at 110.53 with a spinning top candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.441. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Neutral/Buy.

6S(Swiss Franc) – closed at 1.0126 with a bullish candle on its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.0055. BuySellTimer is in a negative 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, XLK, XLV, XLB, XLP and XLU.

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

Market Internals
Market sentiment is bullish. Market breadth has flattened. Accumulation/ Distribution has turned downwards showing distribution. Skew is at 140.92. Vix is at 12.31 and Vix futures is at 14.10.

The Week Ahead
Market internals continue to weaken. Market breadth has flattened. Volume accumulation/distribution is showing distribution. Skew is about normal but close to the high end. Vix remains low but Vix futures is going up in anticipation of a pullback in the market. The market is very much impacted by news event. The prognosis is for the market to pullback.

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

 

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