Indices Dow Transportation closed at 10475.08 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 168.15. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 25648.02 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 382.95. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Russell 2000 closed at 1548.2713 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 20.58. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 closed at 7503.2456 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 170.322. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
S&P 500(SPX) closed at 2850.96 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 43.6. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Metals and Commodities WTI Crude oil futures (CL) closed at $62.13 per barrel with a bullish candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 1.49. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Gold futures (GC) closed at 1297.2 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 8.1. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 15.96 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 0.18. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy.
Bonds Bond futures (/ZB) closed at 149’29 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.9375. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 85.71 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.32. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Currency The dollar index ($DXY) closed at 97.554 with a low closing doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.2639. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Sell.
EUR/USD closed at 1.1200 with a doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.0045. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. It is in a daily and weekly Squeeze.
USD/JPY closed at 109.57 with a high closing doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.544. Intermediate Cycle is negative 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 XLV, XLK, XLU, XLP, XLE, XLY and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLP, XLY, XLF and XLU respectively.
Market Internals Market Sentiment is slightly bullish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 120.87. Vix is at 16.44 and Vix Futures is at 17.20.
The Week Ahead It was another day of recovery for the market. Vix and Vix futures are now below 17 and 18 respectively. Market Sentiment is slightly bullish. Market internals remain bearish. SKEW is normal. The prognosis is for continuing volatility and continuing 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.
15 May 2019 – Plenty of Bulls
Indices
Dow Transportation closed at 10475.08 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 168.15. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 25648.02 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 382.95. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Russell 2000 closed at 1548.2713 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 20.58. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 closed at 7503.2456 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 170.322. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
S&P 500 (SPX) closed at 2850.96 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 43.6. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Metals and Commodities
WTI Crude oil futures (CL) closed at $62.13 per barrel with a bullish candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 1.49. Intermediate Cycle is positive and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Gold futures (GC) closed at 1297.2 with a spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 8.1. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 15.96 with a bullish marubozu candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 0.18. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Buy.
Bonds
Bond futures (/ZB) closed at 149’29 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.9375. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 85.71 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.32. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Currency
The dollar index ($DXY) closed at 97.554 with a low closing doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.2639. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Sell.
EUR/USD closed at 1.1200 with a doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.0045. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. It is in a daily and weekly Squeeze.
USD/JPY closed at 109.57 with a high closing doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.544. Intermediate Cycle is negative 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 XLV, XLK, XLU, XLP, XLE, XLY and XLI.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLP, XLY, XLF and XLU respectively.
Market Internals
Market Sentiment is slightly bullish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 120.87. Vix is at 16.44 and Vix Futures is at 17.20.
The Week Ahead
It was another day of recovery for the market. Vix and Vix futures are now below 17 and 18 respectively. Market Sentiment is slightly bullish. Market internals remain bearish. SKEW is normal. The prognosis is for continuing volatility and continuing 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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