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11 Feb 2019 – Dollar index uptrend, Gold range trades

Indices
Dow Transportation closed at 10304.45 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 147. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and falling slope. Market direction – Buy. 

Dow Industrial closed at 25053.11 with a small bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 187.65. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and falling slope. Market direction – Buy. 

Russell 2000 closed at 1518.9822 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 13.5414. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. 

Nasdaq 100 closed at 6909.1847 with a bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 64.53. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.

S&P 500 closed at 2709.80 with a small bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 14.26. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $52.45 per barrel with a small candle intertwined with its 8 EMA, 21 EMA and below its 200 SMA and above its 50 SMA. Daily trading range was 1.55. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.     

Gold futures (GC) closed at 1311.6 with a bearish candle below its 8 EMA, above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 11.6. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.

Commodities (DBC) ETF closed at 15.40 with a small bullish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 0.18. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.   

Bonds
Bond futures (/ZB) closed at 146’16 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.7187. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy.  

High Yield bond ETF (HYG) closed at 84.83 with a small bullish candle on its 8 EMA, above its 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.17. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. 

Currency
The dollar index ($DXY) closed at 97.073 with a big bullish candle above its 8 EMA, 21 EMA, 200 SMA and 50 SMA. Daily trading range was 0.498. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.      

EUR/USD closed at 1.1275 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and 50 SMA. Daily trading range was 0.0062. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze.

USD/JPY closed at 110.35 with a bullish candle above its 8 EMA, 21 EMA and above its 50 SMA and below its 200 SMA. Daily trading range was 0.752. Intermediate Cycle is negative 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 XLI, XLK, XLU and XLF.

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

Market Internals
Market Sentiment remains bullish. Market Breadth is sloping upwards showing more gainers to losers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 129.19. Vix is at 15.97 and Vix Futures is at 15.95.   

The Week Ahead
The indices continue to trend upwards. The Dow Industrial futures has broken above its 200 SMA. The rest of the indices are approaching the 200 SMA. Trade talks between China and USA is still ongoing. SKEW is normal. Vix and Vix future sare now below 16 and it will continue to trend downwards as the indices moved upwards.

Gold is trading downwards as the Dollar index trades upwards. Bond is also range trading as the indices trend upwards. The prognosis is for a bullish 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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