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29 May 2019 – It is all about trade, market falls

Indices
Dow Transportation closed at 9929.95 with a small bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA, 200 SMA. Daily trading range was 125.43. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell.

Dow Industrial closed at 25126.41 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 409.53. Intermediate Cycle is negative and falling slope. Short Term Cycle is negative and falling slope. Market direction – Sell. 

Russell 2000 closed at 1489.95 with a bearish marubozu candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 22.6. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. 

Nasdaq 100 gapped down and closed at 7216.86 with a doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 101.71. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

S&P 500 (SPX) closed at 2783.02 with a hammer candle above its 200 SMA and below its 8 EMA, 21 EMA, 50 SMA. Daily trading range was 36.33. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.    

Metals and Commodities
WTI Crude oil futures (CL) closed at $59.06 per barrel with a doji candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 2.26. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.

Gold (/GC) closed at 1282.0 with a gravestone doji candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 11.6. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Buy. 

Commodities (DBC) ETF gapped up and closed at 15.70 with a small bearish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.14. Intermediate Cycle is negative and falling slope. Short Cycle is negative slope. Market direction: Sell.   

Bonds
Bond futures (/ZB) closed at 151’22 with an inverted hammer candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.09. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.

High Yield bond ETF (HYG) closed at 85.34 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.32. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. 

Currency
The dollar index ($DXY) closed at 98.134 with a big bullish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.343. Intermediate Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.    

EUR/USD closed at 1.1130 with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.0048. Intermediate Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell. It is in a daily Squeeze.

USD/JPY closed at 109.58 with a bullish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.55. Intermediate Cycle is negative and rising slope. Short Cycle is negative 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 XLU, XLE, XLF, XLB, XLI and XLV.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLF, XLK, XLP, XLY, XLV and XLU respectively.  

Market Internals
Market Sentiment is slightly bearish. Market Breadth is sloping downwards showing more losers to gainers. Volume Acc/Dis is sloping downwards and showing distribution. Skew is at 111.93. Vix is at 17.90 and Vix Futures is at 17.61. PMO is at -0.282.   

The Week Ahead 
The indices closed lower as the trade war escalates. Vix is below 18 and Vix futures is below 18. Market internals continues to show weakness. Skew is normal. The prognosis is for continuing volatility and selling pressure.

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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