27 December 2018 – Plunge Protection Team working?
Indices Dow Transportation closed at 9154.24 with a bullish candle on its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 323.08. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell.
Dow Industrial closed at 23138.82 with a bullish marubozu candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 871.47. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell.
Russell 2000 closed at 1331.82 with a dragonfly doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 40.065. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Nasdaq 100 closed at 6288.302 with a big bullish marubozu candle on its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 245.581. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
S&P 500 closed at 2488.83 with a big bullish marubozu candle on its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 91.16. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Metals and Commodities WTI Crude oil futures (CL) closed at $45.41 per barrel with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.33. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
Gold futures (GC) closed at 1278.1 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 12.5. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Agriculture (DBA) ETF closed at 16.90 with a bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.05. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze.
Commodities (DBC) ETF closed at 14.57 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.15. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds Bond futures (/ZB) closed at 145 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.4062. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Sell.
High Yield bond ETF (HYG) closed at 80.92 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.595. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Currency The dollar index ($DXY) closed at 96.572 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.6. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily and Weekly Squeeze.
EUR/USD closed at 1.1428 with a bullish marubozu candle intertwined with its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0103. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising. Market direction: Sell.
USD/JPY closed at 110.99 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and on its 200 SMA. Daily trading range was 0.903. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
6S (Swiss Franc) – closed at 1.0201 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0118. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLB, XLF, XLK, XLY and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLB, XLF, XLK, XLY and XLI respectively.
Market Internals Market Sentiment has turned slightly bullish. Market Breadth is sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 115.18. Vix is at 29.96 and Vix Futures is at 25.05.
The Week Ahead The Plunge Protection Team must be at work pushing up the market at the close of the normal market hours and after market hours. The prognosis is for the overall macro view to be bearish but it is likely that the indices will trend upwards for a few more sessions till the end of the year. Volatility remains the order of the day.
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.
27 December 2018 – Plunge Protection Team working?
Indices
Dow Transportation closed at 9154.24 with a bullish candle on its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 323.08. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell.
Dow Industrial closed at 23138.82 with a bullish marubozu candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 871.47. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell.
Russell 2000 closed at 1331.82 with a dragonfly doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 40.065. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Nasdaq 100 closed at 6288.302 with a big bullish marubozu candle on its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 245.581. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
S&P 500 closed at 2488.83 with a big bullish marubozu candle on its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 91.16. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Metals and Commodities
WTI Crude oil futures (CL) closed at $45.41 per barrel with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.33. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
Gold futures (GC) closed at 1278.1 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 12.5. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Agriculture (DBA) ETF closed at 16.90 with a bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.05. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze.
Commodities (DBC) ETF closed at 14.57 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.15. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds
Bond futures (/ZB) closed at 145 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.4062. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Sell.
High Yield bond ETF (HYG) closed at 80.92 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.595. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Currency
The dollar index ($DXY) closed at 96.572 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.6. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily and Weekly Squeeze.
EUR/USD closed at 1.1428 with a bullish marubozu candle intertwined with its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0103. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising. Market direction: Sell.
USD/JPY closed at 110.99 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and on its 200 SMA. Daily trading range was 0.903. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
6S (Swiss Franc) – closed at 1.0201 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0118. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLB, XLF, XLK, XLY and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLB, XLF, XLK, XLY and XLI respectively.
Market Internals
Market Sentiment has turned slightly bullish. Market Breadth is sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 115.18. Vix is at 29.96 and Vix Futures is at 25.05.
The Week Ahead
The Plunge Protection Team must be at work pushing up the market at the close of the normal market hours and after market hours. The prognosis is for the overall macro view to be bearish but it is likely that the indices will trend upwards for a few more sessions till the end of the year. Volatility remains the order of the day.
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.
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