Bursa KLCI

Z5 Fri, 24 May 2024

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Z5 Wed, 22 May 2024

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Z5 Wed, 15 May 2024

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Bursa Mon, 13 May 2024

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Z5 Fri, 10 May 2024

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Z5 Tues, 30 April 2024

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18 April 2018 – Upward grind continues

Indices
Dow Transportation closed at 10770.15 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 188.08. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Intermediate – Buy. Current – Buy/Buy.

Dow Industrial closed at 24748.07 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 111.45. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. The index is in a Squeeze. Market direction: Intermediate – Buy. Current – Buy/Buy.

Russell 2000 closed at 1583.562 with a bullish inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.86. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Nasdaq 100 closed at 6833.21 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 68.64. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Buy/Buy.

S&P 500 closed at 2708.64 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 13.86. BuySellTimer is in its positive cycle. TSI is in a negative cycle and positive slope. Market direction – Intermediate – Sell. Current – Buy/Buy.

Metals and Commodities
WTI Crude oil futures (CL) closed at $68.76 per barrel with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 2.36. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Gold futures (GC) closed at 1352.4 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 14. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. The index is in a Squeeze. Market direction: Intermediate – Buy. Current – Buy/Buy.

Agriculture (DBA) ETF gapped up and closed at 19.05 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.09. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. It is in a Squeeze. Market direction: Intermediate – Sell. Current – Neutral/Sell.

Commodities (DBC) ETF gapped up and closed at 17.57 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.18. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Bonds
Bond futures (/ZB) closed at 144’23 with a bearish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 1.1875. BuySellTimer is in its negative cycle. TSI is in its positive cycle and negative slope. It is in a Squeeze. Market direction: Intermediate – Buy. Current – Sell/Sell.

High Yield bond ETF (HYG) closed at 86.37 with a bearish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.22. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

Currencies
The dollar index ($DXY) closed at 89.608 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.329. TSI is flat. It is in a Squeeze. Market direction: Intermediate – Sell. Current – Sell/Sell.

EUR/USD closed at 1.2373 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0055. TSI is flat. It is in a daily Squeeze. Market direction: Intermediate – Buy. Current – Buy/Buy.

USD/JPY closed at 107.22 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.393. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

6S(Swiss Franc) – closed at 1.0373 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.005. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLB, XLK, XLY and XLI.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLK, XLB, XLY and XLU respectively.

Market Internals
Market sentiment is bullish. Market breadth is sloping upwards which means more gainers to losers. Volume accumulation/distribution is sloping upwards showing accumulation. Vix is at 15.60 and Vix futures at 16.37. SKEW is at 146.26.

The Week Ahead
The indices have been grinding upwards. Market internals look strong. Vix and Vix futures have been trending downward. SKEW is highly elevated which means that market participants is expecting the market to have a quick downward move over the next couple of days. The prognosis is for a quick move downwards within the next 2-3 days.

Futures Summary(daily chart):
ES – Intermediate Buy. Short term Buy/Buy. Buy Signal.
NQ – Intermediate Buy. Short term Buy/Buy. Buy Signal.
YM – Intermediate Buy. Short term Buy/Buy. Buy Signal.
GC – Intermediate Buy. Short term Buy/Buy. Buy Signal
CL – Intermediate Buy. Short term Buy/Buy. Buy Signal.

Stocks Buy Watchlist
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Penny Stocks BreakOut
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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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