30 April 2019 – Summer approaching, lacklustre market
Indices Dow Transportation closed at 10847.02 with a bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 169.6. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell.
Dow Industrial closed at 26592.91 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 194.57. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell.
Russell 2000 closed at 1591.2109 with a small bearish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 19.387. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 closed at 7781.4557 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 112.97. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
S&P 500(SPX) closed at 2945.83 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 24.11. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Metals and Commodities WTI Crude oil futures (CL) closed at $63.47 per barrel with a small doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.45. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Gold futures (GC) closed at 1285.4 with a small bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range was 6.7. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 16.09 with a small doji candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 0.13. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds Bond futures (/ZB) closed at 147’20 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.875. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 86.94 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.12. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency The dollar index ($DXY) closed at 97.52 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.453. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
EUR/USD closed at 1.1214 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0053. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. It is in a weekly Squeeze.
USD/JPY closed at 111.4 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 0.451. Intermediate Cycle is positive and falling slope. Short Cycle is positive 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 XLF, XLK, XLV, XLY, XLP and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY, XLF, XLI, XLP and XLU respectively.
Market Internals Market Sentiment is bullish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 125.79. Vix is at 13.12 and Vix Futures is at 14.27.
The Week Ahead Market Internals are weakening. Market internals are telling us that more volume are going into fewer stocks which is not a healthy sign. Skew is normal. Vix is below 14 and Vix futures is below 15. Market Sentiment remains bullish. The prognosis is for increase in volatility and a possible market turn in the coming weeks.
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.
30 April 2019 – Summer approaching, lacklustre market
Indices
Dow Transportation closed at 10847.02 with a bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 169.6. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell.
Dow Industrial closed at 26592.91 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 194.57. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell.
Russell 2000 closed at 1591.2109 with a small bearish hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 19.387. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 closed at 7781.4557 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 112.97. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
S&P 500 (SPX) closed at 2945.83 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 24.11. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Metals and Commodities
WTI Crude oil futures (CL) closed at $63.47 per barrel with a small doji candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.45. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Gold futures (GC) closed at 1285.4 with a small bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range was 6.7. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 16.09 with a small doji candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 0.13. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds
Bond futures (/ZB) closed at 147’20 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.875. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 86.94 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.12. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency
The dollar index ($DXY) closed at 97.52 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.453. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
EUR/USD closed at 1.1214 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0053. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. It is in a weekly Squeeze.
USD/JPY closed at 111.4 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 0.451. Intermediate Cycle is positive and falling slope. Short Cycle is positive 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 XLF, XLK, XLV, XLY, XLP and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY, XLF, XLI, XLP and XLU respectively.
Market Internals
Market Sentiment is bullish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 125.79. Vix is at 13.12 and Vix Futures is at 14.27.
The Week Ahead
Market Internals are weakening. Market internals are telling us that more volume are going into fewer stocks which is not a healthy sign. Skew is normal. Vix is below 14 and Vix futures is below 15. Market Sentiment remains bullish. The prognosis is for increase in volatility and a possible market turn in the coming weeks.
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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