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19 December 2018 – FED kept to interest rate hike, indices is down

Indices
Dow Transportation closed at 9147.66 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 394.91. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. 

Dow Industrial closed at 23323.66 with a big ‘rolling pin’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 884.7. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. 

Russell 2000 closed at 1349.229 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 48.78. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. 

Nasdaq 100 closed at 6342.9681 with a big ‘rolling pin’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 290.68. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

S&P 500 closed at 2506.96 with a ‘rolling pin’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 96.33. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $47.41 per barrel with a small bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.12. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.     

Gold futures (GC) closed at 1246.7 with a bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 16.9. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy. It is in a weekly Squeeze.

Agriculture (DBA) ETF closed at 17.19 with a spinning top doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.1583. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily and weekly Squeeze.   

Commodities (DBC) ETF closed at 15.01 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.235. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.   

Bonds
Bond futures (/ZB) closed at 145’23 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.8125. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.  

High Yield bond ETF (HYG) gapped down and closed at 82.08 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.72. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. 

Currency
The dollar index ($DXY) closed at 96.97 with a high closing spinning top doji candle below its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.546. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. It is in a daily and Weekly Squeeze.     

EUR/USD closed at 1.1373 with a low closing spinning top doji candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 0.008. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.

USD/JPY closed at 112.46 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.573. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.  

6S (Swiss Franc) – closed at 1.016 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0049. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.  

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

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

Market Internals
Market Sentiment is bearish. Market Breadth is sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 125.38. Vix is at 25.58 and Vix Futures is at 22.35.   

The Week Ahead
The FED kept to the interest rate hike of 0.25 and that immediately caused the market to come tumbling down. Gold and Oil were climbing up steadily before the announcement from the FED. The prognosis is for the indices to keep trending downwards for the near term.

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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