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5 March 2019 – Indices on the way down?

Indices
Dow Transportation closed at 10314.08 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 110.8. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell.

Dow Industrial closed at 25806.63 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 151.52. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell. 

Russell 2000 closed at 1568.2835 with a bearish candle below its 8 EMA, 200 SMA and above its 21 EMA, 50 SMA. Daily trading range was 8.177. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. 

Nasdaq 100 closed at 7156.7851 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 57.61. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.

S&P 500 closed at 2789.65 with a small bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 13.47. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $56.28 per barrel with a small bullish candle below its 8EMA, 200 SMA and above its 21 EMA, 50 SMA. Daily trading range was 1.1. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.     

Gold futures (GC) closed at 1288.6 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 8.6. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

Commodities (DBC) ETF closed at 15.91 with a small bullish candle intertwined between its 8 EMA, 21 EMA and above its 50 SMA and below its 200 SMA. Daily trading range was 0.09. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.   

Bonds
Bond futures (/ZB) closed at 144’14 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.656. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

High Yield bond ETF (HYG) closed at 85.44 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.13. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. 

Currency
The dollar index ($DXY) closed at 96.892 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.368. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.      

EUR/USD closed at 1.1307 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.005. 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 111.86 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.439. 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 XLE, XLK, XLU, XLB, XLI, XLY 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 bullish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 126.40. Vix is at 14.74 and Vix Futures is at 15.70.  

The Week Ahead 
Dow Transportation, Dow Industrial, Russell 2000 and S&P 500 have Sell signals now. Oil has the Sell signal. Vix and Vix futures are below 15 and 16 respectively. Skew is normal. Market internals are weakening. The prognosis is for the indices to turn downwards.    

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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