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20 May 2019 – Trade War Escalates, Google takes action

Indices
Dow Transportation closed at 10461.73 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 118.95. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.

Dow Industrial closed at 25679.90 with a small doji candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 203.45. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell. 

Russell 2000 closed at 1524.9632 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 14.13. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. 

Nasdaq 100 closed at 7376.7034 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 151.76. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

S&P 500 (SPX) closed at 2840.23 with a doji candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 28.24. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $63.3 per barrel with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 1.36. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy.

Gold (/GC) closed at 1277.5 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 5.5. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. 

Commodities (DBC) ETF closed at 15.97 with a small candle above its 8 EMA, 21 EMa and below its 50 SMA, 200 SMA. Daily trading range was 0.15. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.   

Bonds
Bond futures (/ZB) closed at 149’10 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.719. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.

High Yield bond ETF (HYG) closed at 85.86 with a spinning top doji candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 0.295. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. 

Currency
The dollar index ($DXY) closed at 97.929 with a doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.155. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.    

EUR/USD closed at 1.1165 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.0024. 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 110.05 with a doji candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.505. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising 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 XLU, XLV, XLP, XLE, XLF, XLY and XLI.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLP, XLK, XLF, XLY and XLU respectively.  

Market Internals
Market Sentiment is neutral. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 115.25. Vix is at 16.31 and Vix Futures is at 15.55.   

The Week Ahead 
The indices closed lower as the trade war escalates. Vix is below 17 and Vix futures is below 16. Market internals are showing weakness. Skew is normal. The prognosis is for continuing volatility 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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