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4 January 2019 – Weekly Review – Volatility continues, Market closes up

Indices
Dow Transportation closed at 9225.02 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 371.76. Intermediate Cycle is negative and rising slope. Short Term Cycle is negative and rising slope. Market direction – Buy. 

Dow Industrial closed at 23433.16 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 832.42. Intermediate Cycle is negative and rising slope. Short Term Cycle is negative and rising slope. Market direction – Buy. 

Russell 2000 closed at 1380.7471 with a bullish marubozu candle above its 8 EMA, on its 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 52.33. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. 

Nasdaq 100 closed at 6422.6737 with a bullish candle above its 8 EMA, on its 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 298.07. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.

S&P 500 closed at 2531.94 with a bullish marubozu candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 90.18. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $48.31 per barrel with a bullish candle above its 8 EMA, on its 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 2.57. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.    

Gold futures (GC) closed at 1286.2 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 22.3. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

Agriculture (DBA) ETF closed at 16.94 with a bearish ‘rolling pin’ candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0988. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.    

Commodities (DBC) ETF closed at 14.85 with an ‘inverted hammer’ candle above its 8 EMA and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.31. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.   

Bonds
Bond futures (/ZB) closed at 146’25 with a big bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.25. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.  

High Yield bond ETF (HYG) closed at 82.39 with a bullish candle above its 8 EMA, 21 EMA and below its 50 SMA and 200 SMA. Daily trading range was 1.465. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. 

Currency
The dollar index ($DXY) closed at 96.199 with a low closing doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.566. 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.     

EUR/USD closed at 1.1393 with a doji candle intertwined with its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0073. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.

USD/JPY closed at 108.50 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.0799. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. 

6S (Swiss Franc) – closed at 1.0200 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0057. 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, XLF, XLY, XLB and XLI.

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

Market Internals
Market Sentiment is bullish. Market Breadth is sloping upwards showing more gainers than losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 111.44. Vix is at 21.38 and Vix Futures is at 22.00.   

The market has been moving based on news and today, there was the news of the China-USA Trade War and negotiators coming together. Also Jerome Powell was testifying that the FED can be flexible when it comes to rate hikes. The market trended higher and market sentiment is now bullish. The prognosis is for volatility to continue and the market continue to be news driven.

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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