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8 April 2019 – The grind upwards continues

Indices
Dow Transportation closed at 10744.97 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 68.55. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.

Dow Industrial closed at 26341.02 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 178.96. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Russell 2000 closed at 1579.0049 with a hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 11.345. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Nasdaq 100 closed at 7599.74 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 65.66. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

S&P 500 (SPX) closed at 2895.77 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 15.17. 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 $64.46 per barrel with a bullish candle above its 8EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.35. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.     

Gold futures (GC) closed at 1301.6 with a bullish candle above its 8 EMA, 200 SMA and below its 21 EMA, 50 SMA. Daily trading range was 12.4. Intermediate Cycle is negative and falling slope. Short Cycle is negative and rising slope. Market direction: Sell.

Commodities (DBC) ETF closed at 16.23 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.08. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.   

Bonds
Bond futures (/ZB) closed at 147’18 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.9375. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.

High Yield bond ETF (HYG) closed at 86.38 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.12. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Currency
The dollar index ($DXY) closed at 97.059 with a big bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.414. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.    

EUR/USD closed at 1.1260 with a bullish candle above its 8 EMA, and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0063. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. It is in a weekly Squeeze.

USD/JPY closed at 111.46 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.462. 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 XLK, XLY, XLB, XLF, XLE and XLI.

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

Market Internals
Market Sentiment is rather bullish. Market Breadth is sloping upwards showing more gainers to losers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 129.13. Vix is at 13.18 and Vix Futures is at 14.65.  

The Week Ahead 
Market Internals continues to show strength. Skew is normal. Vix is below 14 and Vix futures is below 15. Indices are grinding upwards. Dow Industrial has broken above its resistance. High Yield bond is showing risk on. The prognosis is for a further upside.

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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