Bursa KLCI

8 August 2018 – A pause before the push upwards?

Indices
Dow Transportation closed at 11174.92 with a spinning top doji candle above its 8EMA, 21 EMA and 50 SMA. Daily trading range was 71.49. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.

Dow Industrial closed at 25583.75 with a small spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 76.63. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.

Russell 2000 closed at 1686.88 with a hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.67. Intermediate Cycle is positive and flat. Short Cycle is positive and flat slope. Market direction: Neutral. Fractal Bias – Neutral.

Nasdaq 100 closed at 7469.545 with a small spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 50.45. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.

S&P 500 gapped up and closed at 2857.70 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 9.35. 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 $66.78 per barrel with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 3.05. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bearish.

Gold futures (GC) closed at 1221.8 with a small bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.2. 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 17.54 with a bearish candle intertwined with its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.09. 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 17.11 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.28. Intermediate Cycle is negative and rising slope. Short Cycle is positive and flat. Market direction: Neutral. Fractal Bias – Neutral.

Bonds
Bond futures (/ZB) closed at 142’23 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.5625. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Neutral. Fractal Bias – Neutral.

High Yield bond ETF (HYG) closed at 86.10 with a small spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.085. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.

Currency
The dollar index ($DXY) closed at 95.085 with a low closing spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.423. 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 1.1609 with a small spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0054. 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 110.97 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.598. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Neutral.

6S (Swiss Franc) – closed at 1.0102 with a bullish candle intertwined with its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.0042. Intermediate Cycle is negative and flat. Short Cycle is negative and flat. Market direction: Sell. 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, XLK, XLV and XLU.

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

Market Internals
Market sentiment is bullish. Market breadth is sloping downwards showing more losers to gainers. Volume Accumulation/ Distribution is sloping upwards showing nett accumulation. Skew is at 139.84. Vix is at 10.81 and Vix futures is at 12.57.

The Week Ahead
Market internals continue to show strength. Vix and Vix futures low. SKEW is back to normal. Market breadth is showing a slight bearishness. Volume is still showing a lot of accumulation. 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/Falling. 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 – Neutral. Fractal Bias – Bullish.
CL – Intermediate Cycle – Negative/Falling. Current – Negative/Falling. Market direction – Sell. Fractal Bias – Bearish.

To YOUR wealth!

Would you like to learn to trade stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.


Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>