Indices Dow Transportation closed at 10162.16 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 151.06. Intermediate Cycle is positive and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 25473.23 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 320.91. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell.
Russell 2000 closed at 1523.6287 with a bearish marubozu candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 15.36. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Nasdaq 100 closed at 7026.8827 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA SMA. Daily trading range was 110.66. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
S&P 500(SPX) closed at 2748.93 with a bearish marubozu candle on its 200 SMA and below its 8 EMA, 21 EMA and above its 50 SMA. Daily trading range was 32.36. 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 $56.4 per barrel with a doji candle on its 8EMA, below its 200 SMA and above its 21 EMA, 50 SMA. Daily trading range was 0.91. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Gold futures (GC) closed at 1286.1 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 8.8. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Commodities (DBC) ETF closed at 15.78 with a small bearish candle intertwined between its 8 EMA, 21 EMA and above its 50 SMA and below its 200 SMA. Daily trading range was 0.08. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Bonds Bond futures (/ZB) closed at 145’23 with a bullish marubozu candle above its 8 EMA, 21 EMA, 200 SMA and on its 50 SMA. Daily trading range was 1.063. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
High Yield bond ETF (HYG) closed at 85.24 with a small bearish candle below its 8 EMA and on its 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.18. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Currency The dollar index ($DXY) closed at 97.598 with a huge bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.4949. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
EUR/USD closed at 1.1192 with a huge bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0143. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily and weekly Squeeze.
USD/JPY closed at 111.47 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.375. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling 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 XLU, XLE, XLB, XLK, 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 has turned slightly bearish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 123.14. Vix is at 16.59 and Vix Futures is at 16.75.
The Week Ahead The indices are now pulling back and all of them have the Sell signals. Bond is headed upwards again. Gold and Oil is sideways and Oil is particularly volatile. Market Sentiment is slightly bearish. Market Internals are weakening. Skew is normal. The prognosis is for the indices to continue 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.
7 March 2019 – Indices headed South …….
Indices
Dow Transportation closed at 10162.16 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 151.06. Intermediate Cycle is positive and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 25473.23 with a bearish candle below its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 320.91. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell.
Russell 2000 closed at 1523.6287 with a bearish marubozu candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 15.36. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Nasdaq 100 closed at 7026.8827 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA SMA. Daily trading range was 110.66. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
S&P 500 (SPX) closed at 2748.93 with a bearish marubozu candle on its 200 SMA and below its 8 EMA, 21 EMA and above its 50 SMA. Daily trading range was 32.36. 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 $56.4 per barrel with a doji candle on its 8EMA, below its 200 SMA and above its 21 EMA, 50 SMA. Daily trading range was 0.91. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Gold futures (GC) closed at 1286.1 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 8.8. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Commodities (DBC) ETF closed at 15.78 with a small bearish candle intertwined between its 8 EMA, 21 EMA and above its 50 SMA and below its 200 SMA. Daily trading range was 0.08. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Bonds
Bond futures (/ZB) closed at 145’23 with a bullish marubozu candle above its 8 EMA, 21 EMA, 200 SMA and on its 50 SMA. Daily trading range was 1.063. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
High Yield bond ETF (HYG) closed at 85.24 with a small bearish candle below its 8 EMA and on its 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.18. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Currency
The dollar index ($DXY) closed at 97.598 with a huge bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.4949. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
EUR/USD closed at 1.1192 with a huge bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0143. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily and weekly Squeeze.
USD/JPY closed at 111.47 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.375. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling 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 XLU, XLE, XLB, XLK, 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 has turned slightly bearish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 123.14. Vix is at 16.59 and Vix Futures is at 16.75.
The Week Ahead
The indices are now pulling back and all of them have the Sell signals. Bond is headed upwards again. Gold and Oil is sideways and Oil is particularly volatile. Market Sentiment is slightly bearish. Market Internals are weakening. Skew is normal. The prognosis is for the indices to continue 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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