Indices (Weekly chart)
Dow Transportation closed at 10741.50 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 422.32. Intermediate Cycle is positive with falling slope. Short term cycle is positive and rising slope. Market direction:- Sell. It is in a weekly Squeeze.
Dow Industrial closed at 25058.12 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 235.68. Intermediate Cycle is positive and flat. Short term cycle is positive and rising. Market direction:- Buy. It is in a weekly Squeeze.
Russell 2000 closed at 1696.81 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 31.01. Intermediate Cycle is positive and rising. Short term cycle is positive and falling. Market direction:- Buy.
Nasdaq 100 closed at 7350.23 with a small spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 130.13. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy.
S&P 500 closed at 2801.83 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 27.52. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy.
Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $68.14 per barrel with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 4.58. Intermediate Cycle is positive and falling. Short term cycle is positive and falling. Market direction:- Neutral.
Gold futures (GC) closed at 1231.9 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 35.1. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell.
Agriculture (DBA) ETF closed at 17.44 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.27. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell.
Commodities (DBC) ETF gapped down and closed at 16.94 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 0.34. Intermediate Cycle is positive and falling. Short term cycle is negative and falling. Market direction:- Sell.
Bonds (Weekly charts)
Bond futures (/ZB) closed at 144’08 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.625. Intermediate Cycle is negative and rising. Short term cycle is negative and falling. Market direction:- Buy.
High Yield bond ETF (HYG) closed at 85.62 with a doji candle above its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 0.245. Intermediate Cycle is negative and rising. Short term cycle is negative and rising. Market direction:- Buy.
Currencies (Weekly charts)
The dollar index ($DXY) closed at 94.476 with an inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.36. Intermediate Cycle is positive and rising. Short term cycle is positive and falling. Market direction:- Buy.
EUR/USD closed at 1.1721 with a bullish hammer candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0169. Intermediate Cycle is negative and falling. Short term cycle is negative and rising. Market direction:- Bearish.
USD/JPY closed at 112.40 with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 2.453. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy.
6S (Swiss Franc) closed at 1.0115 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0128. Intermediate Cycle is negative and rising. Short term cycle is negative and rising. 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 XLK, XLV, XLI, XLF and XLU respectively.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY, XLV, XLP and XLU respectively.
Market Internals
Market Sentiment is bullish. Market Breadth is sloping downwards showing more losers than gainers. Market Volume is sloping downwards showing distribution. Skew is at 152.72. Vix is at 12.86 and Vix futures 14.35.
The Week Ahead
Market internals is losing strength. Vix is below 13 and Vix futures is just above 14 indicating there is expectation of some near term volatility. Skew is above 152 which is exceptionally high. The prognosis is for a quick pullback early next week.
Futures (Daily Chart):
ES – Intermediate – Positive/Rising. Current – Positive/Falling. Market direction – Neutral.
NQ – Intermediate – Positive/Falling. Current – Positive/Falling. Market direction – Neutral.
YM – Intermediate – Positive/Rising. Current – Positive/Falling. Market direction – Buy. Weekly Squeeze.
GC – Intermediate – Negative/Rising. Current – Negative/Rising. Market direction – Sell.
CL – Intermediate – Negative/Falling. Current – Negative/Rising. Market direction – Sell.
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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20 July 2018 – Skew continues to be extremely high!
Indices (Weekly chart)
Dow Transportation closed at 10741.50 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 422.32. Intermediate Cycle is positive with falling slope. Short term cycle is positive and rising slope. Market direction:- Sell. It is in a weekly Squeeze.
Dow Industrial closed at 25058.12 with a small doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 235.68. Intermediate Cycle is positive and flat. Short term cycle is positive and rising. Market direction:- Buy. It is in a weekly Squeeze.
Russell 2000 closed at 1696.81 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 31.01. Intermediate Cycle is positive and rising. Short term cycle is positive and falling. Market direction:- Buy.
Nasdaq 100 closed at 7350.23 with a small spinning top doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 130.13. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy.
S&P 500 closed at 2801.83 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 27.52. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy.
Metals and Commodities (Weekly charts)
WTI Crude oil futures (CL) closed at $68.14 per barrel with a bearish candle below its 8 EMA and above its 21 EMA and 50 SMA. Weekly trading range was 4.58. Intermediate Cycle is positive and falling. Short term cycle is positive and falling. Market direction:- Neutral.
Gold futures (GC) closed at 1231.9 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 35.1. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell.
Agriculture (DBA) ETF closed at 17.44 with a doji candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.27. Intermediate Cycle is negative and falling. Short term cycle is negative and falling. Market direction:- Sell.
Commodities (DBC) ETF gapped down and closed at 16.94 with a bullish candle below its 8 EMA and 21 EMA and above its 50 SMA. Weekly trading range was 0.34. Intermediate Cycle is positive and falling. Short term cycle is negative and falling. Market direction:- Sell.
Bonds (Weekly charts)
Bond futures (/ZB) closed at 144’08 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.625. Intermediate Cycle is negative and rising. Short term cycle is negative and falling. Market direction:- Buy.
High Yield bond ETF (HYG) closed at 85.62 with a doji candle above its 8 EMA and below its 21 EMA and 50 SMA. Weekly trading range was 0.245. Intermediate Cycle is negative and rising. Short term cycle is negative and rising. Market direction:- Buy.
Currencies (Weekly charts)
The dollar index ($DXY) closed at 94.476 with an inverted hammer candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 1.36. Intermediate Cycle is positive and rising. Short term cycle is positive and falling. Market direction:- Buy.
EUR/USD closed at 1.1721 with a bullish hammer candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0169. Intermediate Cycle is negative and falling. Short term cycle is negative and rising. Market direction:- Bearish.
USD/JPY closed at 112.40 with a big bullish candle above its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 2.453. Intermediate Cycle is positive and rising. Short term cycle is positive and rising. Market direction:- Buy.
6S (Swiss Franc) closed at 1.0115 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Weekly trading range was 0.0128. Intermediate Cycle is negative and rising. Short term cycle is negative and rising. 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 XLK, XLV, XLI, XLF and XLU respectively.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY, XLV, XLP and XLU respectively.
Market Internals
Market Sentiment is bullish. Market Breadth is sloping downwards showing more losers than gainers. Market Volume is sloping downwards showing distribution. Skew is at 152.72. Vix is at 12.86 and Vix futures 14.35.
The Week Ahead
Market internals is losing strength. Vix is below 13 and Vix futures is just above 14 indicating there is expectation of some near term volatility. Skew is above 152 which is exceptionally high. The prognosis is for a quick pullback early next week.
Futures (Daily Chart):
ES – Intermediate – Positive/Rising. Current – Positive/Falling. Market direction – Neutral.
NQ – Intermediate – Positive/Falling. Current – Positive/Falling. Market direction – Neutral.
YM – Intermediate – Positive/Rising. Current – Positive/Falling. Market direction – Buy. Weekly Squeeze.
GC – Intermediate – Negative/Rising. Current – Negative/Rising. Market direction – Sell.
CL – Intermediate – Negative/Falling. Current – Negative/Rising. Market direction – Sell.
Stocks Buy Watchlist
.
Penny Stocks BreakOut
.
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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