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Z5 Fri, 24 May 2024

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Z5 Tues, 30 April 2024

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Z5 Mon, 29 April 2024

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5 June 2018 – ISM figures outperforms, indices are up

Indices
Dow Transportation closed at 10769.97 with a spinning top doji candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 150.21. BuySellTimer is in its negaive cycle. TSI is in a positive cycle and negative slope. Market direction – Intermediate – Buy. Current – Sell/Sell. Negative divergence signal.

Dow Industrial closed at 24799.98 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 127.96. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Sell. Current – Buy/Buy.

Russell 2000 closed at 1664.6254 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 11.93. 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 7166.7524 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 42.69. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

S&P 500 closed at 2748.80 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 13.1. BuySellTimer is in its positive cycle. TSI is in a positive cycle and positive slope. Market direction – Intermediate – Buy. Current – Buy/Buy.

Metals and Commodities
WTI Crude oil futures (CL) closed at $65.53 per barrel with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.35. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Gold futures (GC) closed at 1300.4 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 11.3. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Neutral/Buy.

Agriculture (DBA) ETF closed at 18.64 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.19. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Commodities (DBC) ETF closed at 17.73 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 0.19. BuySellTimer is in its negative cycle. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Bonds
Bond futures (/ZB) closed at 143’07 with a gravestone doji candle below its 8 EMA and 50 SMA and on its 21 EMA. Daily trading range was 0.75. BuySellTimer is in its positive cycle. TSI is in its positive cycle and positive slope. Market direction: Intermediate – Sell. Current – Buy/Buy.

High Yield bond ETF (HYG) closed at 85.47 with a bullish candle below its 50 SMA and above its 8 EMA and on its 21 EMA. Daily trading range was 0.22. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Sell/Sell.

Currencies
The dollar index ($DXY) closed at 93.82 with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Daily trading range was 0.534. TSI is in a positive cycle and negative slope. Market direction: Intermediate – Buy. Current – Neutral/Sell. Negative divergence.

EUR/USD closed at 1.1717 with a bullish candle above its 8 EMA and below its 21 EMA and 50 SMA. Daily trading range was 0.0079. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Sell. Current – Neutral/Buy.

USD/JPY closed at 109.77 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.528. TSI is in a positive cycle and positive slope. Market direction: Intermediate – Sell. Current – Buy/Buy.

6S(Swiss Franc) – closed at 1.0161 with a bullish candle above its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.0064. BuySellTimer is in a positive cycle. TSI is in a negative cycle and positive slope. Market direction: Intermediate – Buy. Current – Buy/Buy.

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

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

Market Internals
Market sentiment is rather bullish. Market breadth is sloping upwards showing nett gainers to losers. Accumulation/ Distribution is sloping upwards showing accumulationt. Skew is at 132.58. Vix is at 12.4 and Vix futures is at 13.55.

The Week Ahead
Market internals continue to show strength. Market sentiment is very bullish. Skew is normal and Vix and Vix futures are not showing any sign of fear. The US economy continues to show strength with ISM at high levels above 58 and unemployment below 4%. The prognosis is for the grind upwards to continue.

Futures Summary(daily chart):
ES – Intermediate Buy. Short term Buy/Buy.
NQ – Intermediate Buy. Short term Buy/Buy. Weekly Squeeze.
YM – Intermediate Buy. Short term Buy/Buy. Daily and Weekly Squeeze.
GC – Intermediate Sell. Short term Neutral/Buy. Weekly Squeeze. Positive divergence.
CL – Intermediate Sell. Short term Sell/Sell.

 

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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