Bursa KLCI

28 June 2018 – Short term pullback, indices still in positive cycle

Indices
Dow Transportation closed at 10307.56 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 153.57. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Intermediate – Sell. Current – Sell/Sell. Strong Sell. It is in a weekly Squeeze.

Dow Industrial closed at 24216.05 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 310.95. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell. It is in a weekly Squeeze. Strong Sell.

Russell 2000 closed at 1645.0167 with a spinning top doji candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 17.88. 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 7031.6039 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 105.02. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Sell/Sell.

S&P 500 closed at 2716.31 with a bullish candle below its 8 EMA, 21 EMA and on its 50 SMA. Daily trading range was 32.35. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Intermediate – Sell. Current – Sell/Sell. It is in a weekly Squeeze. Strong Sell.

Metals and Commodities
WTI Crude oil futures (CL) closed at $73.28 per barrel with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.83. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate Term – Buy. Current – Buy/Buy. Strong Buy.

Gold futures (GC) closed at 1249.5 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 8.6. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell. Strong Sell.

Agriculture (DBA) ETF closed at 17.77 with an inverted hammer candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.167. 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 closed at 17.48 with a bearish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.13. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Buy/Buy.

Bonds
Bond futures (/ZB) closed at 145’07 with a tiny doji candle above its 8 EMA, 21 EMA and 50 EMA. Daily trading range was 0.4375. BuySellTimer is in its positive cycle. TSI is positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy. Strong Buy signal.

High Yield bond ETF (HYG) closed at 85.52 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.24. 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. Short term momentum is downwards.

Currencies
The dollar index ($DXY) closed at 95.316 with a small spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.441. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Buy/Buy.

EUR/USD closed at 1.1567 with a small spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0073. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Neutral/Sell.

USD/JPY closed at 110.48 with a spinning top doji candle above its 8 EMA, 21 EMA and above its 50 SMA. Daily trading range was 0.682. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Sell. Current – Buy/Buy.

6S(Swiss Franc) – closed at 1.0092 with a small doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0031. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope and flat. Market direction: Intermediate – Buy. Current – Neutral/Sell. It is in a daily Squeeze.

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, XLE, XLK, XLB, XLV, XLF and XLI.

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

Market Internals
Market sentiment is neutral. Market breadth continues to slope downwards showing more losers to gainers. Accumulation/ Distribution is sloping downward showing distribution. Skew is at 136.34. Vix is at 16.85 and Vix futures is at 16.00.

The Week Ahead
Market internals continues to lose strength. Skew is normal. Vix has decreased but is still up from the beginning of the week. The market is expecting more volatility. Market sentiment is neutral. The prospect of a Global Trade War continues. The prognosis is for continuing volatility and further pullback.

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

 

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