Dow Transportation closed at 9092.81 with a big bearish candle below its 21 EMA and 50 SMA. Daily trading range was 117.0199. Momentum is sideways. Volumetric buying pressure is at 34.7%. BuySellTimer is in a negative cycle.
Dow Industrial closed at 21012.28 with a small bullish candle above its moving averages. Daily trading range was 46.84. Momentum is upward. Volumetric buying pressure is at 100%. BuySellTimer is in positive cycle.
Russell 2000 closed at 1391.6394 with a bearish candle above its 21 EMA but below its 8 EMA. Daily trading range was 11.0066. Momentum is neutral. Volumetric buying pressure is at 49.7%. BuySellTimer is in a negative cycle.
Nasdaq 100 touched new all-time high of 5659.07 and closed at 5659.0689 with a bullish candle above its moving averages. Daily trading range was 21.0686. Momentum is upward. Volumetric buying pressure is at 93.9%. BuySellTimer is in a positive cycle.
S&P 500 touched new all-time high at 2401.36 and closed at 2399.38 with a doji candle above its moving averages. Daily trading range was 7.44. Momentum is upwards. Volumetric buying pressure is at 60.6%. BuySellTimer is in a positive cycle.
Metals and Commodities
WTI Crude oil futures closed with a spinning top doji candle below its 21 EMA, 50 SMA and 200 SMA. Momentum is downward. It is trading at $46.58 per barrel. BuySellTimer is in a negative cycle.
Gold futures closed with a low closing spinning top doji candle below its 21 EMA, 50 SMA and 200 SMA. It is trading at $1227.7 per ounce. Momentum is downward. BuySellTimer is in a negative cycle.
Silver futures closed with an inverted hammer candle below its moving averages. It is trading at $16.280 per ounce. Momentum is downward. BuySellTimer is in a negative cycle.
Agriculture (DBA) ETF closed at 20.10 with a bullish candle above its 21 EMA and 50 SMA but below its 200 SMA. Momentum is upward. BuySellTimer is in a positive cycle.
Commodities (DBC) ETF closed at 14.40 with a doji candle below its moving averages. Momentum is downward. BuySellTimer is in a negative cycle.
Bonds
Bond futures (ZB) closed with a bearish candle below its 21 EMA and above its 50 SMA. It is trading at 151’08. Momentum is downward. BuySellTimer is in a negative cycle.
High Yield bond ETF (HYG) closed at 87.68 with a bullish candle on its 21 EMA and above its 50 SMA. Momentum is downward. BuySellTimer is in a negative cycle.
Currencies
$DXY closed with a big bullish candle below its 21 EMA but above its 200 SMA. It is trading at 99.121. Momentum is downward.
EUR/USD closed with a big bearish candle above its 21 EMA. It is trading at 1.0930. Momentum is upward.
USD/JPY closed with a bullish candle above its 21 EMA and 50 SMA. Momentum is upward. It is trading at 113.19.
Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY, XLI, XLF, XLB and XLV respectively.
On a monthly lookback, the relative strength order of the ETFs that are underperforming the S&P 500 are XLE, XLB, XLF, XLP, XLU, XLV, XLY and XLI respectively.
On a 3-month lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLF, XLY, XLV, XLU and XLI respectively.
Market Internals
Vix closed at 9.77. Vix futures is at 11.42. Skew is at 128.12. Market sentiment is about bullish. Market breadth is has flattened. Volumetric accumulation/distribution is sloping upward.
The Week Ahead
The Vix closed below 10 and it shows that the market has no fear of any potential pullback. SKEW reflects the same lack of hedging activities of a possible pullback. The market waits for further announcements of tax cuts to further propel the market upwards. The prognosis is for more bullish breakout to new record highs.
Penny Stocks Breaking Upwards!
IPI, UMC and ZNGA.
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.
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8 May 2017 – New All-Time high in S&P 500 and Nasdaq
Dow Transportation closed at 9092.81 with a big bearish candle below its 21 EMA and 50 SMA. Daily trading range was 117.0199. Momentum is sideways. Volumetric buying pressure is at 34.7%. BuySellTimer is in a negative cycle.
Dow Industrial closed at 21012.28 with a small bullish candle above its moving averages. Daily trading range was 46.84. Momentum is upward. Volumetric buying pressure is at 100%. BuySellTimer is in positive cycle.
Russell 2000 closed at 1391.6394 with a bearish candle above its 21 EMA but below its 8 EMA. Daily trading range was 11.0066. Momentum is neutral. Volumetric buying pressure is at 49.7%. BuySellTimer is in a negative cycle.
Nasdaq 100 touched new all-time high of 5659.07 and closed at 5659.0689 with a bullish candle above its moving averages. Daily trading range was 21.0686. Momentum is upward. Volumetric buying pressure is at 93.9%. BuySellTimer is in a positive cycle.
S&P 500 touched new all-time high at 2401.36 and closed at 2399.38 with a doji candle above its moving averages. Daily trading range was 7.44. Momentum is upwards. Volumetric buying pressure is at 60.6%. BuySellTimer is in a positive cycle.
Metals and Commodities
WTI Crude oil futures closed with a spinning top doji candle below its 21 EMA, 50 SMA and 200 SMA. Momentum is downward. It is trading at $46.58 per barrel. BuySellTimer is in a negative cycle.
Gold futures closed with a low closing spinning top doji candle below its 21 EMA, 50 SMA and 200 SMA. It is trading at $1227.7 per ounce. Momentum is downward. BuySellTimer is in a negative cycle.
Silver futures closed with an inverted hammer candle below its moving averages. It is trading at $16.280 per ounce. Momentum is downward. BuySellTimer is in a negative cycle.
Agriculture (DBA) ETF closed at 20.10 with a bullish candle above its 21 EMA and 50 SMA but below its 200 SMA. Momentum is upward. BuySellTimer is in a positive cycle.
Commodities (DBC) ETF closed at 14.40 with a doji candle below its moving averages. Momentum is downward. BuySellTimer is in a negative cycle.
Bonds
Bond futures (ZB) closed with a bearish candle below its 21 EMA and above its 50 SMA. It is trading at 151’08. Momentum is downward. BuySellTimer is in a negative cycle.
High Yield bond ETF (HYG) closed at 87.68 with a bullish candle on its 21 EMA and above its 50 SMA. Momentum is downward. BuySellTimer is in a negative cycle.
Currencies
$DXY closed with a big bullish candle below its 21 EMA but above its 200 SMA. It is trading at 99.121. Momentum is downward.
EUR/USD closed with a big bearish candle above its 21 EMA. It is trading at 1.0930. Momentum is upward.
USD/JPY closed with a bullish candle above its 21 EMA and 50 SMA. Momentum is upward. It is trading at 113.19.
Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY, XLI, XLF, XLB and XLV respectively.
On a monthly lookback, the relative strength order of the ETFs that are underperforming the S&P 500 are XLE, XLB, XLF, XLP, XLU, XLV, XLY and XLI respectively.
On a 3-month lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLF, XLY, XLV, XLU and XLI respectively.
Market Internals
Vix closed at 9.77. Vix futures is at 11.42. Skew is at 128.12. Market sentiment is about bullish. Market breadth is has flattened. Volumetric accumulation/distribution is sloping upward.
The Week Ahead
The Vix closed below 10 and it shows that the market has no fear of any potential pullback. SKEW reflects the same lack of hedging activities of a possible pullback. The market waits for further announcements of tax cuts to further propel the market upwards. The prognosis is for more bullish breakout to new record highs.
Penny Stocks Breaking Upwards!
IPI, UMC and ZNGA.
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.
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