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11 January 2019 – Weekly Review – Indices retraces upward


Indices (Weekly chart)
Dow Transportation closed at 9625.25 with a bullish candle on its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 517.23. Intermediate Cycle is negative with falling slope. Short term cycle is negative with falling slope. Market direction:- Sell.     

Dow Industrial closed at 23995.95 with a bullish candle on its 8 EMA and below its 21 EMA, 50 SMA and above its 200 SMA. Weekly trading range was 713.19. Intermediate Cycle is negative and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell.   

Russell 2000 closed at 1447.3848 with a bullish marubozu candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Weekly trading range was 67.54. Intermediate Cycle is negative and falling. Short term cycle is negative and rising. Market direction:- Sell.      

Nasdaq 100 closed at 6601.3953 with a bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Weekly trading range was 218.08. Intermediate Cycle is negative and falling slope. Short term cycle is negative and rising slope. Market direction:- Sell.         

S&P 500 closed at 2596.26 with a bullish marubozu candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Weekly trading range was 73.26. Intermediate Cycle is negative and falling slope. Short term cycle is negative and rising slope. Market direction:- Sell.   

Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $51.70 per barrel with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 5.2. Intermediate Cycle is negative and falling slope. Short term cycle is negative and rising slope. Market direction:- Sell.

Gold futures (GC) closed at 1287.9 with a doji candle above its 8 EMA, 21 EMA , 50 SMA and 200 SMA. Weekly trading range was 17.8. Intermediate Cycle is negative and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy.  

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 2.594. Intermediate Cycle is positive and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy.         

High Yield bond ETF (HYG) closed at 83.89 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Weekly trading range was 1.82. Intermediate Cycle is negative and rising slope. Short term cycle is negative and rising slope. Market direction:- Sell.         

Currencies (Weekly charts)
The dollar index ($DXY) closed at 95.664 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Weekly trading range was 1.17. 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 1.1465 with a bullish candle above its 8 EMA and 200 SMA and below its 21 EMA and 50 SMA. Weekly trading range was 0.0176. Intermediate Cycle is negative and rising slope. Short term cycle is negative and rising slope. Market direction:- Buy.       

USD/JPY closed at 108.57 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 1.32. Intermediate Cycle is positive and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell.    

6S (Swiss Franc) closed at 1.0224 with an ‘inverted hammer’ candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Weekly trading range was 0.0154. Intermediate Cycle is negative and rising slope. Short term cycle is positive 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 XLE, XLY, XLI, XLF and XLB respectively.

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

Market Internals
Market Sentiment is slightly bullish. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards showing accumulation. Skew is at 119.09. Vix is at 18.19 and Vix futures 19.05.

The Week Ahead
This past week has seen wild volatility. The indices have paused and may pull back from its bounce upwards. Earnings season is upon us and that will create even more volatility. 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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