Bursa KLCI

25 June 2018 – Indices rolled over on Trade War concerns

Indices
Dow Transportation closed at 10521.23 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 306.06. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction – Intermediate – Sell. Current – Sell/Sell. It is in a daily and weekly Squeeze.

Dow Industrial closed at 24252.80 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 379.34. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell. It is in a weekly Squeeze.

Russell 2000 closed at 1657.5096 with a bearish marubozu candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 34.95. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Sell/Sell.

Nasdaq 100 closed at 7038.17 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA. Daily trading range was 167.32. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

S&P 500 closed at 2717.07 with bearish marubozu candle below its 8 EMA and 21 EMA and on its 50 SMA. Daily trading range was 44.27. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction – Intermediate – Sell. Current – Sell/Sell. It is in a weekly Squeeze. Strong Sell signal.

Metals and Commodities
WTI Crude oil futures (CL) closed at $69.28 per barrel with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.66. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate Term – Sell. Current – Buy/Buy.

Gold futures (GC) closed at 1267.3 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 8.9. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell. Strong Sell signal.

Agriculture (DBA) ETF gapped down and closed at 17.92 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.13. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell. Strong Sell.

Commodities (DBC) ETF gapped down and closed at 17.23 with a small doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.11. 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 144’10 with a small bullish candle above its 8 EMA, 21 EMA and 50 EMA. Daily trading range was 0.5937. BuySellTimer is in its positive cycle. TSI is positive cycle and positive cycle. Market direction: Intermediate – Buy. Current – Buy/Buy. It is i1n a daily and weekly Squeeze.

High Yield bond ETF (HYG) gapped down and closed at 85.71 with a bearish candle below its 8 EMA and 21 EMA and on its 50 SMA. Daily trading range was 0.18. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Sell/Sell. It is in a weekly Squeeze.

Currencies
The dollar index ($DXY) closed at 94.288 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.4859. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

EUR/USD closed at 1.1702 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.0084. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

USD/JPY closed at 109.98 with a bearish candle below its 8 EMA and on its 21 EMA and above its 50 SMA. Daily trading range was 0.916. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

6S(Swiss Franc) – closed at 1.0206 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0036. BuySellTimer is in a positive cycle. TSI is in a positive 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 XLU, XLP, XLY and XLV.

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

Market Internals
Market sentiment is neutral. Market breadth is sloping downwards showing more losers to gainers. Accumulation/ Distribution is sloping downward showing distribution. Skew is at 134.66. Vix is at 17.33 and Vix futures is at 15.80.

The Week Ahead
Market internals continues to lose strength. Skew is normal. Vix has shot up above Vix futures. This means that the market is expecting the volatility to be relatively Skew is normal and market sentiment is neutral. Market sentiment has been bullish for a very long time. With the looming Trade War, the prognosis is for continuing volatility and further pullback can be expected.

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

 

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