Indices Dow Transportation closed at 10198.55 with a bearish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 189.04. Long Cycle is negative and rising slope. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 26048.51 with bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 249.8. Long Cycle is negative with rising slope. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Russell 2000 closed at 1519.1078 with a bearish candle above its 8 EMA, on its 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 22.95. Long Cycle is negative and rising slope. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 gapped up and closed at 7513.8491 with a bearish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 105.58. Long Cycle is negative and rising slope. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
S&P 500(SPX) gapped up and closed at 2885.72 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA, 200SMA. Daily trading range was 32.08. Long Cycle is negative and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and sharp rising slope. Market direction: Buy.
Metals and Commodities WTI Crude oil futures (CL) closed at $53.05 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.13. Long Cycle is negative and falling slope. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. RSI is 29.6.
Gold (/GC) closed at 1330.7 with a high closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 10.2. Long Cycle is positive and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
Commodities (DBC) ETF closed at 15.23 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.14. Long Cycle is negative and falling slope. Medium Cycle is negative and falling slope. Short Cycle is positive and sharp rising slope. Market direction: Sell. RSI is 41.7.
Bonds Bond futures (/ZB) closed at 153’18 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.1875. Long Cycle is positive and rising. slope. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Buy.
High Yield bond ETF (HYG) gapped up and closed at 86.35 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.439. Long Cycle is negative and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency The dollar index ($DXY) closed at 96.71 with a low closing doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.242. Long Cycle is negative and falling slope. Medium Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
EUR/USD closed at 1.1325 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0036. Long Cycle is positive and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.. RSI is 65.
USD/JPY closed at 108.50 with a small candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.454. Long Cycle is negative and rising slope. Medium Cycle is negative and falling slope. Short Cycle is negative and rising 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 XLK, XLB, XLY and XLP.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLB, XLF, XLP, XLV and XLY respectively.
Market Internals Market Sentiment is slightly bullish. Market Breadth is sloping upward showing more gainers to losers. Volume Acc/Dis is sloping sharply upwards and showing accumulation. Skew is at 113.81. Vix is at 15.99 and Vix Futures is at 16.56.
The Week Ahead The indices are pulled back slightly but the momentum is still upwards. Market Sentiment is bullish and market internals are showing rather bullish signals. Skew is normal. Vix is below 16 and Vix futures is below 17. The prognosis is for continuing strength and continuing rise in the indices.
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.
11 June 2019 – Indices take a breather
Indices
Dow Transportation closed at 10198.55 with a bearish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 189.04. Long Cycle is negative and rising slope. Intermediate Cycle is negative and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Dow Industrial closed at 26048.51 with bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 249.8. Long Cycle is negative with rising slope. Intermediate Cycle is positive and rising slope. Short Term Cycle is positive and rising slope. Market direction – Buy.
Russell 2000 closed at 1519.1078 with a bearish candle above its 8 EMA, on its 21 EMA and below its 50 SMA, 200 SMA. Daily trading range was 22.95. Long Cycle is negative and rising slope. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Nasdaq 100 gapped up and closed at 7513.8491 with a bearish candle above its 8 EMA, 21 EMA, 200 SMA and below its 50 SMA. Daily trading range was 105.58. Long Cycle is negative and rising slope. Intermediate Cycle is negative and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
S&P 500 (SPX) gapped up and closed at 2885.72 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA, 200SMA. Daily trading range was 32.08. Long Cycle is negative and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and sharp rising slope. Market direction: Buy.
Metals and Commodities
WTI Crude oil futures (CL) closed at $53.05 per barrel with a bearish candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 1.13. Long Cycle is negative and falling slope. Intermediate Cycle is negative and rising slope. Short Cycle is negative and rising slope. Market direction: Sell. RSI is 29.6.
Gold (/GC) closed at 1330.7 with a high closing spinning top doji candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 10.2. Long Cycle is positive and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and falling slope. Market direction: Buy.
Commodities (DBC) ETF closed at 15.23 with a bullish candle above its 8 EMA and below its 21 EMA, 50 SMA, 200 SMA. Daily trading range was 0.14. Long Cycle is negative and falling slope. Medium Cycle is negative and falling slope. Short Cycle is positive and sharp rising slope. Market direction: Sell. RSI is 41.7.
Bonds
Bond futures (/ZB) closed at 153’18 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.1875. Long Cycle is positive and rising. slope. Intermediate Cycle is positive and falling slope. Short Cycle is negative and falling slope. Market direction: Buy.
High Yield bond ETF (HYG) gapped up and closed at 86.35 with a bearish candle above its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.439. Long Cycle is negative and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.
Currency
The dollar index ($DXY) closed at 96.71 with a low closing doji candle below its 8 EMA, 21 EMA, 50 SMA and above its 200 SMA. Daily trading range was 0.242. Long Cycle is negative and falling slope. Medium Cycle is negative and falling slope. Short Cycle is negative and falling slope. Market direction: Sell.
EUR/USD closed at 1.1325 with a bullish candle above its 8 EMA, 21 EMA, 50 SMA and below its 200 SMA. Daily trading range was 0.0036. Long Cycle is positive and rising slope. Medium Cycle is positive and rising slope. Short Cycle is positive and rising slope. Market direction: Buy.. RSI is 65.
USD/JPY closed at 108.50 with a small candle below its 8 EMA, 21 EMA, 50 SMA and 200 SMA. Daily trading range was 0.454. Long Cycle is negative and rising slope. Medium Cycle is negative and falling slope. Short Cycle is negative and rising 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 XLK, XLB, XLY and XLP.
On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLB, XLF, XLP, XLV and XLY respectively.
Market Internals
Market Sentiment is slightly bullish. Market Breadth is sloping upward showing more gainers to losers. Volume Acc/Dis is sloping sharply upwards and showing accumulation. Skew is at 113.81. Vix is at 15.99 and Vix Futures is at 16.56.
The Week Ahead
The indices are pulled back slightly but the momentum is still upwards. Market Sentiment is bullish and market internals are showing rather bullish signals. Skew is normal. Vix is below 16 and Vix futures is below 17. The prognosis is for continuing strength and continuing rise in the indices.
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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