Bursa KLCI

7 August 2018 – Indices carry on upwards

Indices
Dow Transportation closed at 11217.56 with a bullish candle above its 8EMA, 21 EMA and 50 SMA. Daily trading range was 110.36. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.

Dow Industrial gapped up and closed at 25628.91 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 141.07. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.

Russell 2000 closed at 1688.3 with an inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 9.5. Intermediate Cycle is positive and flat. Short Cycle is positive and flat slope. Market direction: Neutral. Fractal Bias – Neutral.

Nasdaq 100 closed at 7462.6531 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 35.08. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Bullish. Fractal Bias – Neutral.

S&P 500 gapped up and closed at 2858.45 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 7.51. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Bullish. Fractal Bias – Bullish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $69.09 per barrel with a tiny candle intertwined with its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.19. Intermediate Cycle is negative and flat. Short Cycle is negative and flat. Market direction: Neutral. Fractal Bias – Bearish.

Gold futures (GC) closed at 1218.8 with a small inverted hammer candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 8.7. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Bullish.

Agriculture (DBA) ETF closed at 17.55 with a bullish marubozu candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.16. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Neutral.

Commodities (DBC) ETF closed at 17.32 with a small candle below its 50 SMA and above its 8 EMA and 21 EMA. Daily trading range was 0.09. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.

Bonds
Bond futures (/ZB) closed at 142’18 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.8125. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Neutral.

High Yield bond ETF (HYG) closed at 86.15 with a inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.15. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a weekly Squeeze.

Currency
The dollar index ($DXY) closed at 95.186 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.374. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Bullish. It is in a Squeeze. Fractal Bias – Bullish.

EUR/USD closed at 1.1598 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0058. Intermediate Cycle is negative and falling. Short Cycle is negative and falling. Market direction: Sell. It is in a Squeeze. Fractal Bias – Neutral.

USD/JPY closed at 111.37 with a doji candle intertwined with its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.481. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. Fractal Bias – Neutral.

6S (Swiss Franc) – closed at 1.0077 with a small low closing doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0038. Intermediate Cycle is negative and flat. Short Cycle is negative and flat. Market direction: Bearish. It is in a Squeeze. Fractal Bias – Neutral.

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

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

Market Internals
Market sentiment is bullish. Market breadth is sloping upwards showing more gainers to losers. Volume Accumulation/ Distribution is sloping upwards showing nett accumulation. Skew is at 138.94. Vix is at 10.93 and Vix futures is at 12.75.

The Week Ahead
Market internals are now in sync and showing bullishness. Volatility Vix and Vix futures have decreased. SKEW is back to normal. The prognosis is for the uptrend to continue.

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. It is in a Squeeze. Fractal Bias – Neutral
YM – Intermediate Cycle – Positive/Rising. Current – Positive/Rising. Market direction – Buy. Weekly Squeeze. Fractal Bias – Bullish.
RTY – Intermediate Cycle – Positive/Flat. Current – Positive/Rising. Market direction – Buy. It is in a Squeeze. Fractal Bias – Neutral.
GC – Intermediate Cycle – Negative/Rising. Current – Negative/Rising. Market direction – Buy. Fractal Bias – Bullish.
CL – Intermediate Cycle – Negative/Flat. Current – Negative/Rising. Market direction – Buy. Fractal Bias – Bearish.

To YOUR wealth!

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