Indices Dow Transportation closed at 10935.60 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 175.67. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 26449.54 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 109.16. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Russell 2000 closed at 1567.597 with a bearish candle below its 8 EMA, 200 SMA and above its 21 EMA, 50 SMA. Daily trading range was 27.02. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
Nasdaq 100 closed at 7680.72 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 60.34. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
S&P 500(SPX) closed at 2900.45 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 22.55. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
Metals and Commodities WTI Crude oil futures (CL) closed at $63.85 per barrel with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.96. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Gold futures (GC) closed at 1276.2 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 6.9. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Commodities (DBC) ETF closed at 16.16 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.09. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Bonds Bond futures (/ZB) closed at 146’06 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.594. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
High Yield bond ETF (HYG) closed at 86.64 with a bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.31. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
Currency The dollar index ($DXY) closed at 97.017 with a high closing doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.301. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
EUR/USD closed at 1.1293 with an inverted hammer candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 0.0044. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily and weekly Squeeze.
USD/JPY closed at 112.04 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.164. 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 XLF, XLK, XLY, XLB, XLI and XLP.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLI, XLY and XLB respectively.
Market Internals Market Sentiment is bullish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 125.78. Vix is at 12.60 and Vix Futures is at 14.85.
The Week Ahead Market Internals are weakening. Skew is normal. Vix is below 13 and Vix futures is below 15. The market is experiencing an increase in volatility. Market Sentiment remains bullish. The prognosis is for the uptrend to continue but with volatility.
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.
17 April 2019 – Are the indices topping?
Indices
Dow Transportation closed at 10935.60 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 175.67. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 26449.54 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 109.16. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Russell 2000 closed at 1567.597 with a bearish candle below its 8 EMA, 200 SMA and above its 21 EMA, 50 SMA. Daily trading range was 27.02. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
Nasdaq 100 closed at 7680.72 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 60.34. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
S&P 500 (SPX) closed at 2900.45 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 22.55. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.
Metals and Commodities
WTI Crude oil futures (CL) closed at $63.85 per barrel with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.96. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Gold futures (GC) closed at 1276.2 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 6.9. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Commodities (DBC) ETF closed at 16.16 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.09. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Bonds
Bond futures (/ZB) closed at 146’06 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.594. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
High Yield bond ETF (HYG) closed at 86.64 with a bearish candle on its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.31. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
Currency
The dollar index ($DXY) closed at 97.017 with a high closing doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.301. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
EUR/USD closed at 1.1293 with an inverted hammer candle above its 8 EMA, 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 0.0044. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. It is in a daily and weekly Squeeze.
USD/JPY closed at 112.04 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.164. 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 XLF, XLK, XLY, XLB, XLI and XLP.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLI, XLY and XLB respectively.
Market Internals
Market Sentiment is bullish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 125.78. Vix is at 12.60 and Vix Futures is at 14.85.
The Week Ahead
Market Internals are weakening. Skew is normal. Vix is below 13 and Vix futures is below 15. The market is experiencing an increase in volatility. Market Sentiment remains bullish. The prognosis is for the uptrend to continue but with volatility.
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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