Bursa KLCI

28 August 2018 – US – Mexico Trade deals

Indices
Dow Transportation closed at 11390.58 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 94.83. 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 26064.02 with a small bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 84.39. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. Fractal Bias – Bullish.

Russell 2000 closed at 1728.4215 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.088. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.

Nasdaq 100 gapped up and closed at 7570.2455 with a small candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 32.00. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.

S&P 500 closed at 2897.52 with a small candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 10.27. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bullish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $68.53 per barrel with a bearish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.99. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Neutral.

Gold futures (GC) closed at 1207 with a bearish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 14.9. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. Fractal Bias – Neutral.

Agriculture (DBA) ETF closed at 16.90 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.22. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Bearish. Fractal Bias – Bearish.

Commodities (DBC) ETF closed at 17.20 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.1449. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. Fractal Bias – Bearish.

Bonds
Bond futures (/ZB) closed at 144’15 with a bearish candle below its 8 EMA and on its 21 EMA and above its 50 SMA. Daily trading range was 0.8437. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Neutral. Fractal Bias – Bullish.

High Yield bond ETF (HYG) closed at 86.37 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.09. 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 94.717 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.478. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. Fractal Bias – Bearish.

EUR/USD closed at 1.1694 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.007. Intermediate Cycle is negative and rising. Short Cycle is positive and rising. Market direction: Buy. Fractal Bias – Bullish.

USD/JPY closed at 111.18 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.397. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a Squeeze. Fractal Bias – Neutral.

6S (Swiss Franc) – closed at 1.026 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0066. Intermediate Cycle is positive and rising. Short Cycle is positive and rising. Market direction: Buy. It is in a weekly Squeeze. Fractal Bias – Bullish.

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

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

Market Internals
Market sentiment is Bullish. Market breadth is rising showing more gainers to losers. Volume Accumulation/ Distribution is rising and shows nett accumulation. Skew is at 140.88. Vix is at 12.50 and Vix futures is at 14.10.

The Week Ahead
Market internals continue to show strength as the indices trend upwards. SKEW is back to normal. Vix is above 12 and is reasonably low and Vix futures is above 14 which means that the market is forecasting near term volatility. The prognosis is for a bullish bias in the indices.

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