25 March 2019 – Down trend trumped by political news?
Indices Dow Transportation closed at 10000.79 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 139.49. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 25516.83 with a spinning top doji candle below its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 231.01. Intermediate Cycle is negative and falling slope. Short Term Cycle is positive and rising slope. Market direction – Sell.
Russell 2000 closed at 1512.8638 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA Daily trading range was 25.5. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 closed at 7316.97 with a small spinning top doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 77.232. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
S&P 500(SPX) closed at 2798.36 with a spinning top doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 24.77. 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 $59.08 per barrel with a small doji candle above its 8EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 1.18. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
Gold futures (GC) closed at 1321.6 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 13.9. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 16.00 with a small bullish candle on its 8 EMA and above its 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.16. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Bonds Bond futures (/ZB) closed at 149’05 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.53. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 85.81 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.26. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Currency The dollar index ($DXY) closed at 96.516 with a bearish candle intertwined with its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range was 0.27. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
EUR/USD closed at 1.1310 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0047. Intermediate Cycle is negative and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. It is in a weekly Squeeze.
USD/JPY closed at 109.95 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.535. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY, XLU, XLE and XLP.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLE, XLY and XLI respectively.
Market Internals Market Sentiment is bearish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 117.60. Vix is at 16.33 and Vix Futures is at 16.65.
The Week Ahead Market Internals are showing weakness. Skew is normal. Vix is below 17 and Vix futures is below 17. The prognosis is for a downtrend in the indices and selling pressure.
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.
25 March 2019 – Down trend trumped by political news?
Indices
Dow Transportation closed at 10000.79 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 139.49. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 25516.83 with a spinning top doji candle below its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 231.01. Intermediate Cycle is negative and falling slope. Short Term Cycle is positive and rising slope. Market direction – Sell.
Russell 2000 closed at 1512.8638 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA Daily trading range was 25.5. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 closed at 7316.97 with a small spinning top doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 77.232. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
S&P 500 (SPX) closed at 2798.36 with a spinning top doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 24.77. 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 $59.08 per barrel with a small doji candle above its 8EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 1.18. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
Gold futures (GC) closed at 1321.6 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 13.9. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 16.00 with a small bullish candle on its 8 EMA and above its 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.16. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Bonds
Bond futures (/ZB) closed at 149’05 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.53. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 85.81 with a doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.26. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Currency
The dollar index ($DXY) closed at 96.516 with a bearish candle intertwined with its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range was 0.27. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
EUR/USD closed at 1.1310 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0047. Intermediate Cycle is negative and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. It is in a weekly Squeeze.
USD/JPY closed at 109.95 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.535. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Relative Strength – Sectors On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY, XLU, XLE and XLP.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLE, XLY and XLI respectively.
Market Internals
Market Sentiment is bearish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 117.60. Vix is at 16.33 and Vix Futures is at 16.65.
The Week Ahead
Market Internals are showing weakness. Skew is normal. Vix is below 17 and Vix futures is below 17. The prognosis is for a downtrend in the indices and selling pressure.
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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