Indices Dow Transportation closed at 10807.46 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 109.17. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell.
Dow Industrial closed at 26554.39 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 81.79. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell.
Russell 2000 closed at 1598.3563 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 11.26. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 closed at 7839.0383 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 38.88. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
S&P 500(SPX) closed at 2943.03 with a small candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 10.17. 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 $63.61 per barrel with a small bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.23. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Gold futures (GC) closed at 1281.7 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 9.2. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 16.04 with a small spinning top doji candle below its 8 EMA, 21 EMA, 200 SMA and on its 50 SMA. Daily trading range was 0.08. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds Bond futures (/ZB) closed at 147’04 with a bearish marubozu candle on its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.8125. Intermediate Cycle is positive and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 86.93 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.07. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency The dollar index ($DXY) closed at 97.852 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.274. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
EUR/USD closed at 1.1183 with a bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0044. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze.
USD/JPY closed at 111.64 with an inverted hammer candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.4. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
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, XLV, XLI, XLB and XLP.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY and XLF 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 125.79. Vix is at 13.11 and Vix Futures is at 14.60.
The Week Ahead Market Internals are weakening. Skew is normal. Vix is below 14 and Vix futures is below 15. Market Sentiment remains bullish. Earnings season is here and has resulted in increase in volatility. The prognosis is for increase in volatility. We could be seeing the market going sideways.
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.
29 April 2019 – Grinding uptrend, Sell in May
Indices
Dow Transportation closed at 10807.46 with a bearish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 109.17. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell.
Dow Industrial closed at 26554.39 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 81.79. Intermediate Cycle is positive and falling slope. Short Term Cycle is positive and falling slope. Market direction – Sell.
Russell 2000 closed at 1598.3563 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 11.26. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 closed at 7839.0383 with a small bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 38.88. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
S&P 500 (SPX) closed at 2943.03 with a small candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 10.17. 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 $63.61 per barrel with a small bullish candle below its 8 EMA and above its 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.23. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
Gold futures (GC) closed at 1281.7 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 9.2. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
Commodities (DBC) ETF closed at 16.04 with a small spinning top doji candle below its 8 EMA, 21 EMA, 200 SMA and on its 50 SMA. Daily trading range was 0.08. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
Bonds
Bond futures (/ZB) closed at 147’04 with a bearish marubozu candle on its 8 EMA, 21 EMA and above its 50 SMA and 200 SMA. Daily trading range was 0.8125. Intermediate Cycle is positive and rising slope. Short Cycle is negative and rising slope. Market direction: Buy.
High Yield bond ETF (HYG) closed at 86.93 with a small doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.07. Intermediate Cycle is positive and falling slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency
The dollar index ($DXY) closed at 97.852 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.274. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
EUR/USD closed at 1.1183 with a bullish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0044. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a weekly Squeeze.
USD/JPY closed at 111.64 with an inverted hammer candle below its 8 EMA and above its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.4. Intermediate Cycle is positive and falling slope. Short Cycle is positive and falling slope. Market direction: Sell.
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, XLV, XLI, XLB and XLP.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY and XLF 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 125.79. Vix is at 13.11 and Vix Futures is at 14.60.
The Week Ahead
Market Internals are weakening. Skew is normal. Vix is below 14 and Vix futures is below 15. Market Sentiment remains bullish. Earnings season is here and has resulted in increase in volatility. The prognosis is for increase in volatility. We could be seeing the market going sideways.
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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