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23 April 2019 – UpTrend continues

Indices
Dow Transportation closed at 11003.09 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 74.39. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.

Dow Industrial closed at 26656.39 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 192.4. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Russell 2000 closed at 1585.0931 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 27.54. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. 

Nasdaq 100 closed at 7810.7062 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 105.84. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

S&P 500 (SPX) closed at 2933.68 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 28.34. 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 $66.18 per barrel with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.02. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.  

Gold futures (GC) closed at 1274.3 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 10.6. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

Commodities (DBC) ETF closed at 16.31 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.066. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.   

Bonds
Bond futures (/ZB) closed at 146’17 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.5. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

High Yield bond ETF (HYG) closed at 86.83 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.35. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell. 

Currency
The dollar index ($DXY) closed at 97.594 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.497. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.    

EUR/USD closed at 1.1226 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0068. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily and weekly Squeeze.

USD/JPY closed at 111.85 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.384. 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 XLF, XLK, XLI, XLY, XLB 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 rather bullish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping upwards and showing accumulation. Skew is at 124.65. Vix is at 12.28 and Vix Futures is at 14.15.   

The Week Ahead 
Market Internals are weakening. Skew is normal. Vix is below 13 and Vix futures is below 15. The uptrend in the indices have continued but there are signs of impending weakness. Market Sentiment remains bullish. Earnings season is here and the uptrend is still evident although market internals are signalling caution. Volatility has increased.

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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