Indices Dow Transportation closed at 10171.61 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 249.32. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 25490.47 with a bearish candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 448.52. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell.
Russell 2000 closed at 1501.38 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 38.1417. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 gapped down and closed at 7307.9335 with a small candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 159.2. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
S&P 500(SPX) closed at 2822.24 with a bearish candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 50.78. 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 $58.57 per barrel with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMa. Daily trading range was 4.08. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Gold (/GC) closed at 1283.0 with a big bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range was 15. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Commodities (DBC) ETF gapped down and closed at 15.42 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.39. Intermediate Cycle is negative and falling slope. Short Cycle is negative slope. Market direction: Sell.
Bonds Bond futures (/ZB) closed at 151′ with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 1.625. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 85.77 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.53. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Currency The dollar index ($DXY) closed at 97.854 with a big bearish candle on its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.563. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
EUR/USD closed at 1.1180 with a big bullish candle its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.0079. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. It is in a daily Squeeze.
USD/JPY closed at 109.59 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.903. 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 and XLF.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLP, XLK, XLU, XLF, XLV and XLY 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 distribuation. Skew is at 114.71. Vix is at 16.92 and Vix Futures is at 16.95.
The Week Ahead The indices closed lower as the trade war escalates. Vix is below 17 and Vix futures is below 17. 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.
23 May 2019 – Beginning of the dump?
Indices
Dow Transportation closed at 10171.61 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 249.32. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 25490.47 with a bearish candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 448.52. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and rising slope. Market direction – Sell.
Russell 2000 closed at 1501.38 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 38.1417. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 gapped down and closed at 7307.9335 with a small candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 159.2. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
S&P 500 (SPX) closed at 2822.24 with a bearish candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 50.78. 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 $58.57 per barrel with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMa. Daily trading range was 4.08. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Gold (/GC) closed at 1283.0 with a big bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range was 15. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Commodities (DBC) ETF gapped down and closed at 15.42 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.39. Intermediate Cycle is negative and falling slope. Short Cycle is negative slope. Market direction: Sell.
Bonds
Bond futures (/ZB) closed at 151′ with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 1.625. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 85.77 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.53. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
Currency
The dollar index ($DXY) closed at 97.854 with a big bearish candle on its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.563. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
EUR/USD closed at 1.1180 with a big bullish candle its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.0079. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. It is in a daily Squeeze.
USD/JPY closed at 109.59 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.903. 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 and XLF.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLP, XLK, XLU, XLF, XLV and XLY 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 distribuation. Skew is at 114.71. Vix is at 16.92 and Vix Futures is at 16.95.
The Week Ahead
The indices closed lower as the trade war escalates. Vix is below 17 and Vix futures is below 17. 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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