Bursa KLCI

6 July 2018 – Weekly Review – Good NFP numbers, market end on a high


Indices (Weekly chart)
Dow Transportation closed at 10473.93 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 228.63. Intermediate Cycle is positive with falling slope. Short term cycle is negative and falling slope. BuySellTimer is in its negative cycle. Market direction:- Sell.

Dow Industrial closed at 24456.48 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 442.73. Intermediate Cycle is positive and flat. Short term cycle is negative and flat. Market direction:- Sell. . It is in a weekly Squeeze.

Russell 2000 closed at 1694.0543 with a big bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 64.12. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy.

Nasdaq 100 closed at 7207.3338 with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 247.85. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy.

S&P 500 closed at 2759.82 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 65.46. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $73.92 per barrel with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 3.13. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy.

Gold futures (GC) closed at 1255.9 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 23.6. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell.

Agriculture (DBA) ETF closed at 17.91 with a high closing doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.29. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell.

Commodities (DBC) ETF closed at 17.47 with a bearish doji candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 0.32. Intermediate Cycle is positive and falling. Short term cycle is positive and falling. Market direction:- Sell.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 145’27 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Weekly trading range was 1.844. Intermediate Cycle is negative and rising. Short term cycle is positive and rising. Market direction:- Buy.

High Yield bond ETF (HYG) gapped down and closed at 85.33 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.73. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 93.963 with a bearish inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.22. Intermediate Cycle is positive and rising. Short term cycle is positive and falling. Market direction:- Buy.

EUR/USD closed at 1.1749 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0176. Intermediate Cycle is negative and falling. Short term cycle is negative and rising. Market direction:- Neutral.

USD/JPY closed at 110.45 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.857. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy.

6S (Swiss Franc) closed at 1.0162 with a doji candle on its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 0.008. Intermediate Cycle is positive and falling. Short term cycle is negative and rising. Market direction:- Neutral.

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

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

Market Internals
Market Sentiment is bullish. Market Breadth continues to slope downwards showing more losers than gainers. Market Volume is sloping upwards showing accumulation. Skew is at 141.02. Vix is at 13.37 and Vix futures 14.50.

The Week Ahead
Market internals is gaining strength. Market breadth is showing more gainers than losers and the market is showing accumulation. Skew is starting to be elevated. Vix and Vix futures have been decreasing so the market is expecting this uptrend to continue for a short term and intermediate volatility is expected.

Futures (Daily Chart):
ES – Intermediate – Negative/Rising. Current – Positive/Rising. Market direction – Buy. Weekly Squeeze.
NQ – Intermediate – Positive/Falling. Current – Positive/Rising. Market direction – Buy.
YM – Intermediate – Negative/Rising. Current – Negative/Rising. Market direction – Neutral. Weekly Squeeze.
GC – Intermediate – Negative/Rising. Current – Negative/Rising. Market direction – Neutral.
CL – Intermediate – Positive/Rising. Current – Positive/Falling. Market direction – Buy.

Stocks Buy Watchlist
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Penny Stocks BreakOut
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To YOUR wealth!

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