Bursa KLCI

3 August 2018 – A positive week for the indices


Indices (Weekly chart)
Dow Transportation closed at 11096.97 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 220.31. Intermediate Cycle is positive with rising slope. Short term cycle is positive with rising slope. Market direction:- Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.

Dow Industrial closed at 25462.58 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 380.09. Intermediate Cycle is positive and flat. Short term cycle is positive and rising. Market direction:- Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.

Russell 2000 closed at 1673.3721 with a small spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 34.57. Intermediate Cycle is positive and falling. Short term cycle is positive and falling. Market direction:- Buy. Fractal Bias – Bullish.

Nasdaq 100 closed at 7395.4885 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 236.71. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy. Fractal Bias – Bullish.

S&P 500 closed at 2840.35 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 44.04. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy. Fractal Bias – Bullish.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $68.68 per barrel with a doji candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 3.51. Intermediate Cycle is positive and falling. Short term cycle is positive and falling. Market direction:- Buy. Fractal Bias – Bullish.

Gold futures (GC) closed at 1221.9 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 25.3. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell. Fractal Bias – Bearish.

Agriculture (DBA) ETF closed at 17.51 with a low closing spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.39. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell.

Commodities (DBC) ETF closed at 17.16 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 0.48. Intermediate Cycle is positive and falling. Short term cycle is negative and falling. Market direction:- Neutral. Fractal Bias – Neutral.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 143’01 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.6562. Intermediate Cycle is negative and rising. Short term cycle is negative and falling. Market direction:- Bearish. It is in a Squeeze. Fractal Bias – Neutral.

High Yield bond ETF (HYG) closed at 85.95 with a doji candle above its 8 EMA and 21 EMA and below its 50 SMA. Weekly trading range was 0.485. Intermediate Cycle is negative and rising. Short term cycle is positive and rising. Market direction:- Buy. It is in a Squeeze. Fractal Bias – Bearish.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 95.161 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.204. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy. Fractal Bias – Bullish.

EUR/USD closed at 1.1567 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.019. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell. Fractal Bias – Bearish.

USD/JPY closed at 111.25 with a low closing spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.406. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy. It is in a monthly Squeeze. Fractal Bias – Bullish.

6S (Swiss Franc) closed at 1.0088 with a low closing doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.0088. Intermediate Cycle is negative and falling. Short term cycle is negative and rising. Market direction:- Sell. Fractal Bias – Bearish.

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

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLV, XLP, XLU, XLY, XLK and XLI 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 146.19. Vix is at 11.64 and Vix futures 13.56.

The Week Ahead
Market internals continue to give mixed signals. Market breadth is showing more and more decliners while there is more and more volume accumulation. Vix is trending downwards while SKEW is persistently high above 142. The prognosis is for a slow uptrend but with the potential for pullbacks due to the SKEW.

Futures (Weekly Chart):
ES – Intermediate Cycle – Positive/Rising. Current – Positive/Rising. Market direction – Buy. Fractal Bias – Bullish.
NQ – Intermediate Cycle – Positive/Rising. Current – Positive/Rising. Market direction – Buy. Fractal Bias – Bullish
YM – Intermediate Cycle – Positive/Rising. Current – Positive/Rising. Market direction – Buy. Weekly Squeeze. Fractal Bias – Bullish.
RTY – Intermediate Cycle – Positive/Falling. Current – Positive/Falling. Market direction – Neutral. Fractal Bias – Bearish.
GC – Intermediate Cycle – Negative/Falling. Current – Negative/Falling. Market direction – Sell. Fractal Bias – Bearish.
CL – Intermediate Cycle – Negative/Falling. Current – Negative/Falling. Market direction – Buy. Fractal Bias – Buy.

Stocks Buy Watchlist
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Penny Stocks BreakOut
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