Bursa KLCI

Z5 Fri, 24 May 2024

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Z5 Thur, 23 May 2024

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Z5 Wed, 22 May 2024

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Z5 Fri, 10 May 2024

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Z5 Tues, 30 April 2024

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Z5 Mon, 29 April 2024

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7 February 2019 – Trade Uncertainties, market pauses

Indices
Dow Transportation closed at 10198.06 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 124.7. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and falling slope. Market direction – Buy. 

Dow Industrial closed at 25169.53 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 389.78. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and falling slope. Market direction – Buy. 

Russell 2000 closed at 1505.63 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 23.655. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. 

Nasdaq 100 closed at 6904.9806 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 143.27. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.

S&P 500 closed at 2706.05 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 44.35. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $53.9 per barrel with a small candle below its 8 EMA, 21 EMA, 200 SMA and above its 50 SMA. Daily trading range was 2.41. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.     

Gold futures (GC) closed at 1313.8 with a small bullish candle on its 8 EMA, above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 9.4. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.

Commodities (DBC) ETF closed at 15.47 with a small bearish candle intertwined with its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.2684. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.   

Bonds
Bond futures (/ZB) closed at 146’12 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.844. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.  

High Yield bond ETF (HYG) closed at 84.81 with a doji candle on its 8 EMA, above its 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.44. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy. 

Currency
The dollar index ($DXY) closed at 96.567 with a bullish candle above its 8 EMA, 21 EMA, 200 SMA and 50 SMA. Daily trading range was 0.295. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.      

EUR/USD closed at 1.1338 with a bearish candle below its 8 EMA, 21 EMA, 200 SMA and 50 SMA. Daily trading range was 0.0043. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze.

USD/JPY closed at 109.79 with a bearish candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 0.481. Intermediate Cycle is negative 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 XLI, XLK, XLU and XLF.

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

Market Internals
Market Sentiment remains bullish. Market Breadth is sloping upwards showing more gainers to losers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 124.45. Vix is at 16.37 and Vix Futures is at 17.61.   

The Week Ahead
The indices are showing sign of hesitation and we could be seeing a turn. Skew is normal. Vix and Vix futures has gone up above 16. The dollar index is trending upwards and Gold is trending downwards. Oil prices appear to have peaked for now. Vix and Vix futures have increased. The prognosis is for a pause in the uptrend.

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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