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31 January 2019 – Oil pulls back, Gold still on uptrend

Indices
Dow Transportation closed at 10059.37 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 117.63. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Dow Industrial closed at 24999.67 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 207.53. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Russell 2000 closed at 1499.4189 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 15.924. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Nasdaq 100 closed at 6906.839 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 128.435. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

S&P 500 closed at 2704.10. with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 30.3. 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 $54.02 per barrel with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 1.75. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.    

Gold futures (GC) closed at 1325.7 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 8.9. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

Commodities (DBC) ETF closed at 15.52 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.26. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.   

Bonds
Bond futures (/ZB) closed at 146’25 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 1.125. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.  

High Yield bond ETF (HYG) closed at 85.11 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.36. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Currency
The dollar index ($DXY) closed at 95.557 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.455. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.      

EUR/USD closed at 1.1445 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0078. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a weekly Squeeze.

USD/JPY closed at 108.85 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.574. Intermediate Cycle is negative and rising slope. Short Cycle is negative 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 XLI, XLE, XLK, XLY and XLF.

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

Market Internals
Market Sentiment is bullish. Market Breadth is sloping upwards showing more gainers to losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 126.53. Vix is at 16.57 and Vix Futures is at 17.25.   

The Week Ahead
The indices continues to trend upwards. Oil and Gold have pulled back. Skew is normal. Vix and Vix futures continue to pullback. The prognosis is for the trend to continue.

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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