12 August 2020 – Gold and Bonds pulling back

Summary (The Week Ahead)
$DJT – UpTrend. /YM – UpTrend. /RTY – UpTrend. /NQ – UpTrend and in a preliminary Squeeze. /ES – UpTrend.

The indices continue to trend upward.

/CL – Sideways and in a tight Squeeze. /GC – DownTrend. /ZB – DownTrend and in a preliminary Squeeze. HYG – DownTrend. DBC – UpTrend.

Junk bond (HYG) is pulling back and DBC is still in an UpTrend. We might be seeing the indices pausing sideways.

$DXY – UpTrend. EUR/USD – DownTrend. USD/JPY – UpTrend.

Market Internals
Market Sentiment – Bullish. Put/Call ratio – 0.635. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Vix –22.37. Vix Futures – 23.50. Skew – 137.01.

The indices continue grinding upward but there are signs of lost of momentum.

Relative Strength – Sectors.

On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLY, SPX, SPY, /ES, XLV, XLP, XLB, XLI, XLK, XLU, XLF and XLE.

On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLY, SPX, XLV, SPY, XLB, /ES, XLK, XLP, XLI, XLU, XLF and XLE.

Indices/Indexes as of close of 12 Aug 2020

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.