Indices Dow Transportation closed at 9624.70 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 232.97. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 24001.92 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 311.53. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Russell 2000 closed at 1445.4324 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 21.24. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 closed at 6620.9417 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 107.57. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
S&P 500 closed at 2596.64 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 35.8. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Metals and Commodities WTI Crude oil futures (CL) closed at $52.32 per barrel with a spinning top doji candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.33. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Gold futures (GC) closed at 1287.1 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 11.3. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
Agriculture (DBA) ETF closed at 17.18 with bearish ‘rolling pin’ candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 0.155. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 15.37 with a small spinning top doji candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.13. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Bonds Bond futures (/ZB) closed at 145’0 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.375. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
High Yield bond ETF (HYG) gapped up and closed at 83.83 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.55. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency The dollar index ($DXY) closed at 95.551 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.587. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
EUR/USD closed at 1.1498 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0085. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily and weekly Squeeze.
USD/JPY closed at 108.41 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.7489. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLY, XLI, XLB and XLF.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLY, XLI, XLB and XLF respectively.
Market Internals Market Sentiment is Neutral. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 117.72. Vix is at 19.50 and Vix Futures is at 20.25.
The Week Ahead Market Sentiment is Neutral which usually portends that there is a potential reversal. Skew is normal. Vix and Vix futures are still elevated above 19 and 20 respectively. Oil should be trending sideways as it reached its 50 SMA and awaiting a break upwards. Market internals are giving mixed signals. The prognosis is for a potential pullback in the indices.
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.
10 January 2019 – Indices continue upmove
Indices
Dow Transportation closed at 9624.70 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 232.97. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 24001.92 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 311.53. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Russell 2000 closed at 1445.4324 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 21.24. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 closed at 6620.9417 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 107.57. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
S&P 500 closed at 2596.64 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 35.8. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Metals and Commodities
WTI Crude oil futures (CL) closed at $52.32 per barrel with a spinning top doji candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.33. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Gold futures (GC) closed at 1287.1 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 11.3. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
Agriculture (DBA) ETF closed at 17.18 with bearish ‘rolling pin’ candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 0.155. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 15.37 with a small spinning top doji candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.13. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Bonds
Bond futures (/ZB) closed at 145’0 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.375. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
High Yield bond ETF (HYG) gapped up and closed at 83.83 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.55. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency
The dollar index ($DXY) closed at 95.551 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.587. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
EUR/USD closed at 1.1498 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0085. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily and weekly Squeeze.
USD/JPY closed at 108.41 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.7489. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLY, XLI, XLB and XLF.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLY, XLI, XLB and XLF respectively.
Market Internals
Market Sentiment is Neutral. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 117.72. Vix is at 19.50 and Vix Futures is at 20.25.
The Week Ahead
Market Sentiment is Neutral which usually portends that there is a potential reversal. Skew is normal. Vix and Vix futures are still elevated above 19 and 20 respectively. Oil should be trending sideways as it reached its 50 SMA and awaiting a break upwards. Market internals are giving mixed signals. The prognosis is for a potential pullback in the indices.
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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