Summary (Weekly Chart) $DJT – UpTrend and in a preliminary Squeeze. /YM – UpTrend and in a preliminary Squeeze. /RTY – UpTrend and in a preliminary Squeeze. /NQ – UpTrend. /ES – UpTrend and in a preliminary Squeeze.
/CL – UpTrend. /GC – UpTrend and in a preliminary Squeeze. /ZB – UpTrend and in a tight Squeeze. HYG – UpTrend and in a preliminary Squeeze.
$DXY – DownTrend and in a tight Squeeze. EUR/USD – UpTrend and in a Squeeze. USD/JPY – DownTrend and in a nested tight Squeeze.
Summary (Daily Chart) $DJT – UpTrend and in a Squeeze. /YM – UpTrend and in a tight Squeeze. /RTY – DownTrend and in a tight Squeeze. /NQ – UpTrend. /ES – UpTrend and in a Squeeze.
/CL – UpTrend and in a Squeeze. /GC – UpTrend. /ZB – UpTrend and in a preliminary Squeeze. HYG – UpTrend and in a preliminary Squeeze.
$DXY – DownTrend and in a daily and weekly Squeeze. EUR/USD – UpTrend and in a tight Squeeze. USD/JPY – DownTrend and in a daily and weekly Squeeze.
Market Internals (Daily Chart) Market Sentiment – Extremely Bullish.Put/Call ratio – 0.601. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping upward and showing accumulation. Vix – 27.29 and Vix Futures – 28.88. Skew – 135.68.
The Nasdaq 100 and the S&P 500 are rather bullish while the Dow Transportation is lagging behind. The HYG high yield bond ETF is range trading. With more and more stimulus pumping the economy, the financial market is on a tear. It will take some time before the bullishness subsides but when it does, the pullback will be substantial.
The prognosis is for the bullishness to continue.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLY, XLK, SPX, /ES, SPY, XLP, XLB, XLV, XLI, XLF, XLU and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLY, XLK, XLV, XLB, SPX, SPY, /ES, XLP, XLI, XLU, XLF and XLE.
10 July 2020 – Nasdaq 100 continues all time high
Summary (Weekly Chart)
$DJT – UpTrend and in a preliminary Squeeze. /YM – UpTrend and in a preliminary Squeeze. /RTY – UpTrend and in a preliminary Squeeze. /NQ – UpTrend. /ES – UpTrend and in a preliminary Squeeze.
/CL – UpTrend. /GC – UpTrend and in a preliminary Squeeze. /ZB – UpTrend and in a tight Squeeze. HYG – UpTrend and in a preliminary Squeeze.
$DXY – DownTrend and in a tight Squeeze. EUR/USD – UpTrend and in a Squeeze. USD/JPY – DownTrend and in a nested tight Squeeze.
Summary (Daily Chart)
$DJT – UpTrend and in a Squeeze. /YM – UpTrend and in a tight Squeeze. /RTY – DownTrend and in a tight Squeeze. /NQ – UpTrend. /ES – UpTrend and in a Squeeze.
/CL – UpTrend and in a Squeeze. /GC – UpTrend. /ZB – UpTrend and in a preliminary Squeeze. HYG – UpTrend and in a preliminary Squeeze.
$DXY – DownTrend and in a daily and weekly Squeeze. EUR/USD – UpTrend and in a tight Squeeze. USD/JPY – DownTrend and in a daily and weekly Squeeze.
Market Internals (Daily Chart)
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.601. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping upward and showing accumulation. Vix – 27.29 and Vix Futures – 28.88. Skew – 135.68.
The Nasdaq 100 and the S&P 500 are rather bullish while the Dow Transportation is lagging behind. The HYG high yield bond ETF is range trading. With more and more stimulus pumping the economy, the financial market is on a tear. It will take some time before the bullishness subsides but when it does, the pullback will be substantial.
The prognosis is for the bullishness to continue.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLY, XLK, SPX, /ES, SPY, XLP, XLB, XLV, XLI, XLF, XLU and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLY, XLK, XLV, XLB, SPX, SPY, /ES, XLP, XLI, XLU, XLF and XLE.
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