30 May 2019 – Is bond Overbought? Signs of coming recession?
Indices Dow Transportation closed at 9926.47 with a doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 142.08. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 25169.88 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 151.79. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Russell 2000 closed at 1485.5309 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 22.63. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 gapped down and closed at 7245.403 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 58.36. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
S&P 500(SPX) closed at 2788.86 with a doji candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 22.26. 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 $56.41 per barrel with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMa. Daily trading range was 3.37. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Gold (/GC) closed at 1293.2 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 14.7. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 15.54 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.22. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds Bond futures (/ZB) closed at 152’20 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.313. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 85.52 with a low closing doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.31. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Currency The dollar index ($DXY) closed at 98.171 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.193. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
EUR/USD closed at 1.1128 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0026. 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 109.60 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.459. 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, XLF, XLK and XLE.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLF, XLP, XLY, XLU and XLV 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 112.68. Vix is at 17.30 and Vix Futures is at 18.05.
The Week Ahead The indices closed lower with the lack of news about the trade war. Vix is below 18 and Vix futures is below 19. Market internals continue to show 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.
30 May 2019 – Is bond Overbought? Signs of coming recession?
Indices
Dow Transportation closed at 9926.47 with a doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 142.08. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 25169.88 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 151.79. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Russell 2000 closed at 1485.5309 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 22.63. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 gapped down and closed at 7245.403 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 58.36. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
S&P 500 (SPX) closed at 2788.86 with a doji candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 22.26. 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 $56.41 per barrel with a big bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMa. Daily trading range was 3.37. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Gold (/GC) closed at 1293.2 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 14.7. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 15.54 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.22. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds
Bond futures (/ZB) closed at 152’20 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.313. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 85.52 with a low closing doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.31. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Currency
The dollar index ($DXY) closed at 98.171 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.193. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
EUR/USD closed at 1.1128 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0026. 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 109.60 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.459. 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, XLF, XLK and XLE.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLF, XLP, XLY, XLU and XLV 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 112.68. Vix is at 17.30 and Vix Futures is at 18.05.
The Week Ahead
The indices closed lower with the lack of news about the trade war. Vix is below 18 and Vix futures is below 19. Market internals continue to show 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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