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14 Feb 2019 – Oil in a Squeeze upwards, indices falter

Indices
Dow Transportation closed at 10537.63 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and on its 200 SMA. Daily trading range was 146.14. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Dow Industrial closed at 25439.39 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 250.81. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and falling slope. Market direction – Buy. 

Russell 2000 closed at 1545.1052 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 16.796. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Nasdaq 100 closed at 7015.8758 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 78.192. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.

S&P 500 closed at 2745.73 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and on its 200 SMA. Daily trading range was 26.67. 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 $54.47 per barrel with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 1.6. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.     

Gold futures (GC) closed at 1315.7 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 12.7. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.

Commodities (DBC) ETF closed at 15.62 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.12. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Sell.   

Bonds
Bond futures (/ZB) closed at 146’18 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.22. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.  

High Yield bond ETF (HYG) closed at 85.13 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.365. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. 

Currency
The dollar index ($DXY) closed at 97.018 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.336. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.      

EUR/USD closed at 1.1294 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.006. 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 110.46 with a bearish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.674. Intermediate Cycle is positive 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 XLE.

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 bullish. Market Breadth is sloping upwards showing more gainers to losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 126.89. Vix is at 16.22 and Vix Futures is at 17.22.   

The Week Ahead
The indices have paused for the day but the uptrend continues. Trade talks between China and USA is still ongoing and there should be no US Government shutdown. SKEW is normal. Vix and Vix future are now below 17 and 18 respectively.

Oil is in a daily Squeeze and is squeezing upwards. Gold is range trading. 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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