Indices Dow Transportation closed at 9102.12 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 465.24. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 22878.45 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1166.39. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Russell 2000 closed at 1329.81 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 63.49. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 closed at 6262.77 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 364.46. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
S&P 500 closed at 2467.70 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 121.18. 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 $46.61 per barrel with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 4.48. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Gold futures (GC) closed at 1269.8 with a low closing candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 14.9. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Agriculture (DBA) ETF gapped down and closed at 16.96 with a bullish ‘inverted hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.12. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze.
Commodities (DBC) ETF closed at 14.71 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.37. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds Bond futures (/ZB) closed at 144’16 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.688. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 80.97 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.42. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Currency The dollar index ($DXY) closed at 97.012 with a bullish candle intertwined with its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.59. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily and Weekly Squeeze.
EUR/USD closed at 1.1350 with a bearish candle intertwined with its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0077. Intermediate Cycle is positive and rising slope. Short Cycle is positive and flat. Market direction: Sell.
USD/JPY closed at 111.35 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.274. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
6S (Swiss Franc) – closed at 1.0122 with a big bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0115. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling 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 XLE, XLY, XLK, XLF, XLI and XLB.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLY, XLK, XLF, XLI and XLB respectively.
Market Internals Market Sentiment has turned bullish. Market Breadth is sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 116.46. Vix is at 32.29 and Vix Futures is at 25.55.
The Week Ahead The indices had a big upday from a grossly oversold position. The upthrust is an all-time record perhaps from a short squeeze. Market internals remain bearish. Skew is normal. Vix and Vix futures have trended down. The prognosis is for the major trend to be down with a short term uptrend to sideways.
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.
26 December 2018 – A record thrust upwards!
Indices
Dow Transportation closed at 9102.12 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 465.24. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Dow Industrial closed at 22878.45 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1166.39. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.
Russell 2000 closed at 1329.81 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 63.49. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Nasdaq 100 closed at 6262.77 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 364.46. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
S&P 500 closed at 2467.70 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 121.18. 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 $46.61 per barrel with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 4.48. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Gold futures (GC) closed at 1269.8 with a low closing candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 14.9. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Agriculture (DBA) ETF gapped down and closed at 16.96 with a bullish ‘inverted hammer’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.12. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze.
Commodities (DBC) ETF closed at 14.71 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.37. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds
Bond futures (/ZB) closed at 144’16 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.688. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 80.97 with a big bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.42. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Currency
The dollar index ($DXY) closed at 97.012 with a bullish candle intertwined with its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.59. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily and Weekly Squeeze.
EUR/USD closed at 1.1350 with a bearish candle intertwined with its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0077. Intermediate Cycle is positive and rising slope. Short Cycle is positive and flat. Market direction: Sell.
USD/JPY closed at 111.35 with a big bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.274. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
6S (Swiss Franc) – closed at 1.0122 with a big bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0115. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling 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 XLE, XLY, XLK, XLF, XLI and XLB.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLE, XLY, XLK, XLF, XLI and XLB respectively.
Market Internals
Market Sentiment has turned bullish. Market Breadth is sloping downwards showing more losers than gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 116.46. Vix is at 32.29 and Vix Futures is at 25.55.
The Week Ahead
The indices had a big upday from a grossly oversold position. The upthrust is an all-time record perhaps from a short squeeze. Market internals remain bearish. Skew is normal. Vix and Vix futures have trended down. The prognosis is for the major trend to be down with a short term uptrend to sideways.
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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