Bursa KLCI

Z5 Fri, 24 May 2024

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12 July 2018 – UpTrend continues

Indices
Dow Transportation closed at 10488.62 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 116.66. Intermediate Cycle is negative and rising slope. Short Term Cycle is negative and falling slope. Market direction – Buy. It is in a weekly Squeeze.

Dow Industrial closed at 24924.89 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 137.07. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction – Buy. It is in a weekly Squeeze.

Russell 2000 closed at 1690.277 with a spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 13.17. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.

Nasdaq 100 closed at 7366.2502 with a bullish marubozu candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 94.55. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

S&P 500 closed at 2798.29 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 17.69. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

Metals and Commodities
WTI Crude oil futures (CL) closed at $70.35 per barrel with a small doji candle below its 8 EMA and 21 EMA and above its 50 SMA. Daily trading range was 2.01. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.

Gold futures (GC) closed at 1247.7 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 7.4. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell.

Agriculture (DBA) ETF closed at 17.40 with a small bullish marubozu candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.1712. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.

Commodities (DBC) ETF closed at 17.0 with a small high closing doji candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.2. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

Bonds
Bond futures (/ZB) closed at 145’14 with a small hammer candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.4375. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Neutral.

High Yield bond ETF (HYG) gapped up and closed at 85.61 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.21. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. It is in a weekly Squeeze.

Currency
The dollar index ($DXY) closed at 94.828 with a small bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.299. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

EUR/USD closed at 1.167 with a small doji candle intertwined between its 8 EMA and 21 EMA and below its 50 SMA. Daily trading range was 0.0045. Intermediate Cycle is negative and rising slope. Short Cycle is positive and falling slope. Market direction: Neutral.

USD/JPY closed at 112.53 with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.7129. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. It has exited its daily Squeeze. Market direction: Buy.

6S(Swiss Franc) – closed at 1.0031 with a bearish candle intertwined with its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.008. Intermediate Cycle is negative and flat. Short Cycle is negative and falling. Market direction: Neutral. It is in a daily Squeeze.

Relative Strength – Sectors</b On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLV, XLK and XLY.

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

Market Internals
Market sentiment is bullish. Market breadth is sloping upwards showing more gainers to losers. Accumulation/ Distribution is sloping upwards showing nett accumulation. Skew is at 138.22. Vix is at 12.58 and Vix futures is at 13.35.

The Week Ahead</b3
Market internals continue to show strength. Vix and Vix futures have come down indicating the expectation of less volatility now and in the short term. Skew is normal. Dow Industrial and Russell 2000 is not participating in the latest rally. This might be an indication that the rally might be short term. The prognosis is for the rally to continue.

Futures Summary(Daily chart):
ES – Intermediate Cycle – Positive/Rising. Current – Positive/Rising. Market direction – Buy.
NQ – Intermediate Cycle – Positive/Rising. Current – Positive/Rising. Market direction – Buy.
YM – Intermediate Cycle – Negative/Rising. Current – Positive/Rising. Market direction – Buy. Weekly Squeeze.
GC – Intermediate Cycle – Negative/Falling. Current – Negative/Falling. Market direction – Sell.
CL – Intermediate Cycle – Positive/Falling. Current – Positive/Falling. Market direction – 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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