Indices Dow Transportation closed at 10231.90 with an inverted hammer candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 217.46. Long Cycle is negative and rising slope. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 26062.68 with a small tombstone doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 226.67. Long Cycle is negative with rising slope. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Russell 2000 closed at 1523.5611 with an inverted hammer candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 21.25. Long Cycle is negative and rising slope. Intermediate Cycle is negative and sharp rising slope. Short Cycle is positive and sharp rising slope. Market direction: Buy.
Nasdaq 100 closed at 7501.9289 with a small bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 155.70. Long Cycle is negative and rising slope. Intermediate Cycle is negative and sharp rising slope. Short Cycle is positive and sharp rising slope. Market direction: Buy.
S&P 500(SPX) closed at 2886.73 with a small gravestone doji candle above its 8 EMA, 21 EMA, 50 SMA, 200SMA. Daily trading range was 31.43. Long Cycle is negative and sharp rising slope. Intermediate Cycle is positive and sharp rising slope. Short Cycle is positive and sharp rising slope. Market direction: Buy.
Metals and Commodities WTI Crude oil futures (CL) closed at $53.42 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.79. Long Cycle is negative and falling slope. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. RSI is 32.6.
Gold (/GC) closed at 1331.8 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 15.9. Long Cycle is positive and rising slope. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
Commodities (DBC) ETF closed at 15.13 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.15. Long Cycle is negative and falling slope. Intermediate Cycle is negative and rising slope. Short Cycle is negative and sharp rising slope. Market direction: Sell. RSI is 38.4.
Bonds Bond futures (/ZB) closed at 153’09 with a bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.25. Long Cycle is positive and falling. slope. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 86.23 with a small bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 0.33. Long Cycle is negative and rising slope. Intermediate Cycle is negative and sharp rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency The dollar index ($DXY) closed at 96.772 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.372. Long Cycle is negative and falling slope. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
EUR/USD closed at 1.1310 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0043. Long Cycle is positive and rising slope. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.. RSI is 63.3.
USD/JPY closed at 108.42 with a small candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.5439. Long Cycle is negative and rising slope. 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 XLB, XLK and XLY.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLK, XLF, XLP, XLV and XLY respectively.
Market Internals Market Sentiment is bullish. Market Breadth is sloping upward showing more gainers to losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 114.38. Vix is at 15.94 and Vix Futures is at 16.40.
The Week Ahead The indices are still rising. Market Sentiment is bullish and market internals are showing bullish signals. Skew is normal. Vix is below 16 and Vix futures is below 17. The prognosis is for continuing strength and continuing rise in the indices.
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.
10 June 2019 – A more positive market sentiment
Indices
Dow Transportation closed at 10231.90 with an inverted hammer candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 217.46. Long Cycle is negative and rising slope. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 26062.68 with a small tombstone doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 226.67. Long Cycle is negative with rising slope. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Russell 2000 closed at 1523.5611 with an inverted hammer candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 21.25. Long Cycle is negative and rising slope. Intermediate Cycle is negative and sharp rising slope. Short Cycle is positive and sharp rising slope. Market direction: Buy.
Nasdaq 100 closed at 7501.9289 with a small bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 155.70. Long Cycle is negative and rising slope. Intermediate Cycle is negative and sharp rising slope. Short Cycle is positive and sharp rising slope. Market direction: Buy.
S&P 500 (SPX) closed at 2886.73 with a small gravestone doji candle above its 8 EMA, 21 EMA, 50 SMA, 200SMA. Daily trading range was 31.43. Long Cycle is negative and sharp rising slope. Intermediate Cycle is positive and sharp rising slope. Short Cycle is positive and sharp rising slope. Market direction: Buy.
Metals and Commodities
WTI Crude oil futures (CL) closed at $53.42 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.79. Long Cycle is negative and falling slope. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. RSI is 32.6.
Gold (/GC) closed at 1331.8 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 15.9. Long Cycle is positive and rising slope. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
Commodities (DBC) ETF closed at 15.13 with a small doji candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.15. Long Cycle is negative and falling slope. Intermediate Cycle is negative and rising slope. Short Cycle is negative and sharp rising slope. Market direction: Sell. RSI is 38.4.
Bonds
Bond futures (/ZB) closed at 153’09 with a bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.25. Long Cycle is positive and falling. slope. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 86.23 with a small bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 0.33. Long Cycle is negative and rising slope. Intermediate Cycle is negative and sharp rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency
The dollar index ($DXY) closed at 96.772 with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.372. Long Cycle is negative and falling slope. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.
EUR/USD closed at 1.1310 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0043. Long Cycle is positive and rising slope. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.. RSI is 63.3.
USD/JPY closed at 108.42 with a small candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.5439. Long Cycle is negative and rising slope. 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 XLB, XLK and XLY.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLB, XLK, XLF, XLP, XLV and XLY respectively.
Market Internals
Market Sentiment is bullish. Market Breadth is sloping upward showing more gainers to losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 114.38. Vix is at 15.94 and Vix Futures is at 16.40.
The Week Ahead
The indices are still rising. Market Sentiment is bullish and market internals are showing bullish signals. Skew is normal. Vix is below 16 and Vix futures is below 17. The prognosis is for continuing strength and continuing rise in the indices.
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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