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26 April 2019 – Weekly Review – A Bullish week

Indices ( Weekly Chart )
Dow Transportation closed at 10881.77 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 345.94. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.

Dow Industrial closed at 26543.33 with a doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 385.68. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy. 

Russell 2000 closed at 1591.8157 with a bullish candle above its 8 EMA, 21 EMA 50 SMA and 200 SMA. Daily trading range was 39.57. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Nasdaq 100 closed at 7826.6791 with a bullish marubozu candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 198.09. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.

S&P 500 (SPX) closed at 2939.88 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 43.53. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Buy.    

Metals and Commodities (Weekly Chart)
WTI Crude oil futures (CL) closed at $62.80 per barrel with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 4.32. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.  

Gold futures (GC) closed at 1288.4 with a bullish candle below its 8 EMA, 21 EMA and above its 50 SMA, 200 SMA. Daily trading range was 23. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

Commodities (DBC) ETF closed at 16.03 with a bearish candle below its 50 SMA, on its 8 EMA and above its 21 EMA, 200 SMA. Daily trading range was 0.413. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.   

Bonds
Bond futures (/ZB) closed at 147’20 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 1.688. Intermediate Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.

High Yield bond ETF (HYG) closed at 86.97 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.455. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy. 

Currency
The dollar index ($DXY) closed at 98.051 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.072. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.    

EUR/USD closed at 1.1140 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.015. Intermediate Cycle is negative and rising slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily and weekly Squeeze.

USD/JPY closed at 111.56 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 1.019. 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, XLI and XLV.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY and XLI 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 126.29. Vix is at 12.73 and Vix Futures is at 14.40.   

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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