Bursa KLCI

31 August 2018 – Bulls aided by trade agreements


Indices (Weekly chart)
Dow Transportation closed at 11303.76 with low closing doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 204.9. Intermediate Cycle is positive with rising slope. Short term cycle is positive with rising slope. Market direction:- Buy. Fractal Bias – Bullish.

Dow Industrial closed at 25964.82 with a inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 288.17. Intermediate Cycle is positive and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy. Fractal Bias – Bullish.

Russell 2000 closed at 1740.7531 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 19.73. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy. Fractal Bias – Bullish.

Nasdaq 100 closed at 7654.5536 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 179.09. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy. Fractal Bias – Bullish.

S&P 500 closed at 2901.52 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 31.81. 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 $69.88 per barrel with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 2.28. Intermediate Cycle is positive and falling slope. Short term cycle is positive and falling slope. Market direction:- Sell. Fractal Bias – Neutral.

Gold futures (GC) closed at 1206.9 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 18.6. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell. Fractal Bias – Bearish.

Agriculture (DBA) ETF closed at 17.06 with a spinning top doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.355. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Neutral. Fractal Bias – Bearish.

Commodities (DBC) ETF closed at 17.38 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.29. Intermediate Cycle is positive and falling slope. Short term cycle is positive and rising slope. Market direction:- Buy. Fractal Bias – Bearish.

Bonds (Weekly charts)
Bond futures (/ZB) closed at 144’02 with a bearish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 2.4062. 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 86.36 with a small doji candle above its 8 EMA, 21 EMA and below its 50 SMA. Weekly trading range was 0.24. 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 – Bullish.

Currencies (Weekly charts)
The dollar index ($DXY) closed at 95.099 with a doji candle on its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 0.8659. Intermediate Cycle is positive and rising slope. Short term cycle is positive and falling slope. Market direction:- Buy. Fractal Bias – Bullish.

EUR/USD broke down and closed at 1.1599 with an inverted hammer candle on its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 0.0148. Intermediate Cycle is negative and falling slope. Short term cycle is negative and rising slope. Market direction:- Neutral. Fractal Bias – Bearish.

USD/JPY closed at 110.97 with a spinning top doji candle on its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 1.1419. 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 1.0337 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0199. Intermediate Cycle is negative and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy. It is in a daily and 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 XLY, XLK, XLI, XLV, XLB and XLE respectively.

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

Market Internals
Market Sentiment is bullish. Market Breadth is sloping upwards showing more gainers than losers. Market Volume has flattened. Skew is at 146.91. Vix is at 12.86 and Vix futures 13.98.

The Week Ahead
Market internals are is showing strength. Vix and Vix futures have increased showing expectation of volatility. Skew is elevated. The uptrend on the weekly chart continues. The prognosis is for the market to continue but selling pressure persists.

To YOUR wealth!

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