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28 December 2018 – Weekly Review – A Wild Week!!


Indices (Weekly chart)
Dow Transportation closed at 9109.13 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA and on its 200 SMA. Weekly trading range was 609.05. Intermediate Cycle is negative with falling slope. Short term cycle is negative with falling slope. Market direction:- Sell.     

Dow Industrial closed at 23062.40 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Weekly trading range was 1669.35. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell.   

Russell 2000 closed at 1337.92284 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 89.3083. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell.      

Nasdaq 100 closed at 6285.2664 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Weekly trading range was 493.246. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell.         

S&P 500 closed at 2485.74 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Weekly trading range was 173.69. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell.   

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $45.12 per barrel with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 4.64. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell.

Gold futures (GC) closed at 1283.4 with a bullish candle above its 8 EMA, 21 EMA , 50 SMA and 200 SMA. Weekly trading range was 25.6. Intermediate Cycle is negative and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy.  

Agriculture (DBA) ETF closed at 16.97 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 0.32. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:-  Sell.   

Commodities (DBC) ETF closed at 14.45 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 0.38. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell.     

Bonds (Weekly charts)
Bond futures (/ZB) closed at 145’24 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Weekly trading range was 1.6875. Intermediate Cycle is negative and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy.         

High Yield bond ETF (HYG) closed at 81.04 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 1.7699. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell.         

Currencies (Weekly charts)
The dollar index ($DXY) closed at 96.391 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 0.9279. Intermediate Cycle is positive and falling slope. Short term cycle is positive and falling slope. Market direction:- Sell. It is in a Squeeze.

EUR/USD closed at 1.1443 with a bullish candle above its 8 EMA and 200 SMA and below its 21 EMA and 50 SMA. Weekly trading range was 0.0129. Intermediate Cycle is negative and rising slope. Short term cycle is negative and rising slope. Market direction:- Buy.       

USD/JPY closed at 110.26 with a bearish candle below its 8 EMA, 21 EMA and 200 SMA and on its 50 SMA. Weekly trading range was 1.274. Intermediate Cycle is positive and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell.    

6S (Swiss Franc) closed at 1.0232 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Weekly trading range was 0.017. Intermediate Cycle is negative and rising slope. Short term cycle is negative and rising slope. Market direction:- Buy. It is in a monthly Squeeze.  

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

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

Market Internals
Market Sentiment is rather bullish. Market Breadth is sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 117.26. Vix is at 28.34 and Vix futures 25.31.

The Week Ahead
This past week has seen wild volatility. The indices have rebounded from an extremely oversold position. It is likely that there will be a small upward momentum heading into the end of the year. 2019 will likely be volalite as well. The prognosis is for continued volatility in the market.  

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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