Bursa KLCI

17 August 2018 – The UpTrend continues


Indices (Weekly chart)
Dow Transportation closed at 11227.80 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 275.44. Intermediate Cycle is positive with rising slope. Short term cycle is positive with rising slope. Market direction:- Buy. Fractal Bias – Bullish.

Dow Industrial broke out and closed at 25669.32 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 762.39. Intermediate Cycle is positive and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy. It has exited its weekly Squeeze. Fractal Bias – Neutral.

Russell 2000 closed at 1692.95 with a bullish hammer candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 31.43. Intermediate Cycle is positive and falling. Short term cycle is positive and falling. Market direction:- Neutral. Fractal Bias – Bullish.

Nasdaq 100 closed at 7377.5442 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 160.298. Intermediate Cycle is positive and rising. Short term cycle is positive and falling. Market direction:- Buy. Fractal Bias – Bullish.

S&P 500 closed at 2850.13 with a “hammer” candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 53.14. Intermediate Cycle is positive and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy. Fractal Bias – Bullish.

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $65.20 per barrel with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 3.94. Intermediate Cycle is positive and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.

Gold futures (GC) closed at 1191.8 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 54.3. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell. Fractal Bias – Bearish.

Agriculture (DBA) ETF closed at 17.44 with a bullish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.41. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Neutral. Fractal Bias – Bearish.

Commodities (DBC) ETF closed at 16.81 with a spinning top doji candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 0.55. Intermediate Cycle is positive and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Sell.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 144’22 with a doji candle above its 8 EMA and 21 EMA and below its 50 SMA. Weekly trading range was 1.25. Intermediate Cycle is negative and rising slope. Short term cycle is negative and rising slope. Market direction:- Neutral. It is in a Squeeze. Fractal Bias – Bullish.

High Yield bond ETF (HYG) closed at 86.04 with a small “hammer” candle above its 8 EMA and 21 EMA and below its 50 SMA. Weekly trading range was 0.34. Intermediate Cycle is negative and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy. It is in a Squeeze. Fractal Bias – Bearish.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 96.132 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.83. Intermediate Cycle is positive and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy. Fractal Bias – Bullish.

EUR/USD broke down and closed at 1.1441 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0143. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell. Fractal Bias – Bearish.

USD/JPY closed at 110.47 with a low closing doji candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 1.321. Intermediate Cycle is positive and rising. Short term cycle is positive and falling. Market direction:- Neutral. It is in a monthly Squeeze. Fractal Bias – Bullish.

6S (Swiss Franc) closed at 1.0071 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0085. Intermediate Cycle is negative and falling slope. Short term cycle is negative and rising slope. 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 XLU, XLV, XLP, XLK, XLI, XLF, XLB and XLY respectively.

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

Market Internals
Market Sentiment is bullish. Market Breadth is sloping upwards showing more gainers than losers. Market Volume is sloping upwards showing distribution. Skew is at 146.01. Vix is at 12.64 and Vix futures 13.05.

The Week Ahead
Market internals are showing strength. Vix and Vix futures have come down somewhat to below 14. Skew is elevated. The market continues to be volatile. The prognosis is for this market to come under selling pressure.

 

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