Indices Dow Transportation closed at 9759.86 with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 166.1. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 24819.78 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 254.64. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Russell 2000 closed at 1469.983 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 16.35. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 gapped down and closed at 6978.02 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 191.27. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
S&P 500(SPX) closed at 2744.45 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 34.26. 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 $52.85 per barrel with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.52. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Gold (/GC) closed at 1330.2 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 22.8. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 0.21 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.21. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds Bond futures (/ZB) closed at 154’25 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.313. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 84.65 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.428. Long Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Currency The dollar index ($DXY) closed at 97.216 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.696. Long Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
EUR/USD closed at 1.1239 with a big bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0103. Long Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily Squeeze.
USD/JPY closed at 108.05 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.568. Long 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 XLU, XLB, XLP, XLE, XLF, XLI, XLK and XLK.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLP, XLF, XLU, XLB, XLV, XLK, XLY, XLE and XLI 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 distribution. Skew is at 112.32. Vix is at 18.86 and Vix Futures is at 18.30.
The Week Ahead The indices closed lower as the market is digesting the impact of tariffs. Market internals continuous to show a weakening. Skew is normal. Vix is below 19 and Vix futures is below 19. 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.
3 June 2019 – Slump Continues on Trade Worries
Indices
Dow Transportation closed at 9759.86 with an inverted hammer candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 166.1. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 24819.78 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 254.64. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Russell 2000 closed at 1469.983 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 16.35. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 gapped down and closed at 6978.02 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 191.27. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
S&P 500 (SPX) closed at 2744.45 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 34.26. 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 $52.85 per barrel with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.52. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Gold (/GC) closed at 1330.2 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 22.8. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 0.21 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.21. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds
Bond futures (/ZB) closed at 154’25 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.313. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 84.65 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.428. Long Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Currency
The dollar index ($DXY) closed at 97.216 with a big bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.696. Long Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
EUR/USD closed at 1.1239 with a big bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0103. Long Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily Squeeze.
USD/JPY closed at 108.05 with a small bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.568. Long 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 XLU, XLB, XLP, XLE, XLF, XLI, XLK and XLK.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLP, XLF, XLU, XLB, XLV, XLK, XLY, XLE and XLI 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 distribution. Skew is at 112.32. Vix is at 18.86 and Vix Futures is at 18.30.
The Week Ahead
The indices closed lower as the market is digesting the impact of tariffs. Market internals continuous to show a weakening. Skew is normal. Vix is below 19 and Vix futures is below 19. 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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