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12 Feb 2019 – Indices on the move on positive news of Trade Talks

Indices
Dow Transportation closed at 10445.27 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 186.19. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Dow Industrial closed at 25425.76 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 405.87. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and falling slope. Market direction – Buy. 

Russell 2000 closed at 1538.2303 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 19.91. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Nasdaq 100 closed at 7014.669 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 112.57. 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 above its 8 EMA, 21 EMA, 50 SMA and on its 200 SMA. Daily trading range was 38.39. 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 $53.34 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 1.75. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.     

Gold futures (GC) closed at 1314.2 with a bullish candle on its 8 EMA, above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 8.3. 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 145’25 with a bearish marubozu candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.75. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.  

High Yield bond ETF (HYG) closed at 85.24 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.44. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. 

Currency
The dollar index ($DXY) closed at 96.695 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.5459. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.      

EUR/USD closed at 1.1324 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.0081. 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 110.45 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.311. 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 is rather bullish. Market Breadth is sloping upwards showing more gainers to losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 128.60. Vix is at 15.43 and Vix Futures is at 16.80.   

The Week Ahead
The indices continue to trend upwards. The Dow Industrial futures and the S&P 500 futures have broken above its 200 SMA. The rest of the indices are approaching the 200 SMA. Trade talks between China and USA is still ongoing looking positive. SKEW is normal. Vix and Vix future sare now below 16 and 17 respectively.

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 continue.

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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