21 August 2020 – Weekly Review – Apple is a US$ 2 Trillion company

Indices/Weekly Indexes as of close of 21 Aug 2020

Summary (Weekly Chart)
$DJT – UpTrend. /YM – UpTrend. /RTY – UpTrend. /NQ – UpTrend. /ES – UpTrend.

The UpTrend in the indices continues.

/CL – UpTrend. /GC – UpTrend. /ZB – UpTrend and in a Squeeze. HYG – UpTrend and in a preliminary Squeeze.

$DXY – DownTrend. EUR/USD – UpTrend. USD/JPY – DownTrend and in a Squeeze.

Summary (Daily Chart)
$DJT – UpTrend. /YM – UpTrend and in a preliminary Squeeze. /RTY – DownTrend. /NQ – UpTrend and in a preliminary Squeeze. /ES – UpTrend.

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

$DXY – UpTrend. EUR/USD – DownTrend. USD/JPY – DownTrend and in a preliminary and weekly Squeeze.

Market Internals (Daily Chart)
Market Sentiment – Bullish. Put/Call ratio – 0.618. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Vix – 22.54 and Vix Futures – 26. Skew – 146.73.

The indices looked to be in the process of turning downwards and bond could be turning upwards. Gold could be in the process of turning upwards.

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

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