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18 January 2019 – Weekly Review – Bulls won!


Indices (Weekly chart)
Dow Transportation closed at 10012.06 with a big bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Weekly trading range was 527.52. Intermediate Cycle is negative with falling slope. Short term cycle is negative with rising slope. Market direction:- Sell.     

Dow Industrial closed at 24706.35 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Weekly trading range was 984.98. Intermediate Cycle is negative and falling slope. Short term cycle is negative and rising slope. Market direction:- Sell.   

Russell 2000 closed at 1482.5011 with a bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Weekly trading range was 55.897. Intermediate Cycle is negative and falling. Short term cycle is negative and rising. Market direction:- Sell.      

Nasdaq 100 closed at 6784.61 with a bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Weekly trading range was 303.59. Intermediate Cycle is negative and falling slope. Short term cycle is negative and rising slope. Market direction:- Sell.         

S&P 500 closed at 2670.71 with a bullish marubozu candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Weekly trading range was 105.06. 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 $53.99 per barrel with a bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Weekly trading range was 3.76. Intermediate Cycle is negative and falling slope. Short term cycle is negative and rising slope. Market direction:- Buy.

Gold futures (GC) closed at 1281.3 with a bearish candle above its 8 EMA, 21 EMA , 50 SMA and 200 SMA. Weekly trading range was 16.5. Intermediate Cycle is positive and rising slope. Short term cycle is positive and rising slope. Market direction:- Buy.  

Bonds (Weekly charts)
Bond futures (/ZB) closed at 144’17 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Weekly trading range was 2.063. 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 84.50 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Weekly trading range was 1.12. Intermediate Cycle is negative and rising slope. Short term cycle is negative and rising slope. Market direction:- Buy.         

Currencies (Weekly charts)
The dollar index ($DXY) closed at 96.364 with a bullish candle on its 8 EMA and above its 21 EMA, 200 SMA, 50 SMA. Weekly trading range was 0.928. 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 1.1363 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Weekly trading range was 0.0136. Intermediate Cycle is negative and rising slope. Short term cycle is negative and rising slope. Market direction:- Buy.       

USD/JPY closed at 109.76 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Weekly trading range was 1.902. Intermediate Cycle is positive and falling slope. Short term cycle is negative and falling slope. Market direction:- Sell.    

6S (Swiss Franc) closed at 1.0097 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Weekly trading range was 0.017. 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, XLF, XLI and XLY respectively.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLF, XLI and XLY 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 131.19. Vix is at 17.80 and Vix futures 18.25.

The Week Ahead
The indices continue to push upwards amidst intraday volatilities. Skew is normal. Vix and Vix futures continue to trend downwards. The prognosis is for continued bullishness 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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