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22 May 2019 – World in a trade wars, indecisive indices

Indices
Dow Transportation closed at 10332.98 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 203.1. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.

Dow Industrial closed at 25776.61 with a small doji candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 123.1. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell. 

Russell 2000 closed at 1531.63 with a small bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 16.88. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. 

Nasdaq 100 closed at 7420.66 with a small candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 47.4. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

S&P 500 (SPX) closed at 2856.27 with a doji candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 14.36. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $61.32 per barrel with a bearish marubozu candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 0.48. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

Gold (/GC) closed at 1272.9 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 5.1. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. 

Commodities (DBC) ETF closed at 15.75 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.23. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.   

Bonds
Bond futures (/ZB) closed at 149’29 with a big bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.875. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.

High Yield bond ETF (HYG) closed at 86.20 with a bullish marubozu candle below its 50 SMA and above its 8 EMA, 21 EMA, 200 SMA. Daily trading range was 0.23. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell. 

Currency
The dollar index ($DXY) closed at 98.085 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.229. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.    

EUR/USD closed at 1.1149 with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.0031. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily Squeeze.

USD/JPY closed at 110.33 with a bearish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.387. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising 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, XLV, XLP, XLK, XLF and XLI.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLP, 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 upwards and showing accumulation. Skew is at 115.42. Vix is at 14.75 and Vix Futures is at 16.55.   

The Week Ahead 
The indices closed lower as the trade war escalates. Vix is below 15 and Vix futures is below 17. Market internals are showing some 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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