Indices Dow Transportation closed at 10645.42 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 133.57. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 26150.58 with a small bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 237.88. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and falling slope. Market direction – Buy.
Russell 2000 closed at 1559.6834 with a big bearish candle below its 8 EMA, 200 SMA and above its 21 EMA, 50 SMA. Daily trading range was 20.61. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 closed at 7568.4863 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 44.12. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
S&P 500(SPX) closed at 2878.20 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 22.44. 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 $64.42 per barrel with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.11. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Gold futures (GC) closed at 1308.2 with a bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 9.8. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 16.20 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0765. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Bonds Bond futures (/ZB) closed at 147’28 with a small bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.7812. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
High Yield bond ETF (HYG) closed at 86.32 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.15. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Sell.
Currency The dollar index ($DXY) closed at 97.018 with a bearish hammer candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.227. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
EUR/USD closed at 1.1261 with a low closing doji candle above its 8 EMA, and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0029. 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 111.12 with a bearish candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range was 0.595. Intermediate Cycle is positive and falling 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 XLY, XLK, XLB, XLF, XLI and XLE.
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 slightly bullish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 127.66. Vix is at 14.28 and Vix Futures is at 15.16.
The Week Ahead Market Internals is showing weakness. Skew is normal. Vix is below 15 and Vix futures is below 16. Indices are showing signs of reversing. The prognosis is for a quick reversal downwards.
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.
9 April 2019 – Pullback or correction?
Indices
Dow Transportation closed at 10645.42 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 133.57. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 26150.58 with a small bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 237.88. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and falling slope. Market direction – Buy.
Russell 2000 closed at 1559.6834 with a big bearish candle below its 8 EMA, 200 SMA and above its 21 EMA, 50 SMA. Daily trading range was 20.61. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 closed at 7568.4863 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 44.12. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
S&P 500 (SPX) closed at 2878.20 with a small bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 22.44. 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 $64.42 per barrel with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.11. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Gold futures (GC) closed at 1308.2 with a bullish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 9.8. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 16.20 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0765. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Bonds
Bond futures (/ZB) closed at 147’28 with a small bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.7812. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
High Yield bond ETF (HYG) closed at 86.32 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.15. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Sell.
Currency
The dollar index ($DXY) closed at 97.018 with a bearish hammer candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.227. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
EUR/USD closed at 1.1261 with a low closing doji candle above its 8 EMA, and below its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0029. 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 111.12 with a bearish candle above its 21 EMA, 50 SMA and below its 8 EMA, 200 SMA. Daily trading range was 0.595. Intermediate Cycle is positive and falling 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 XLY, XLK, XLB, XLF, XLI and XLE.
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 slightly bullish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 127.66. Vix is at 14.28 and Vix Futures is at 15.16.
The Week Ahead
Market Internals is showing weakness. Skew is normal. Vix is below 15 and Vix futures is below 16. Indices are showing signs of reversing. The prognosis is for a quick reversal downwards.
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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