22 January 2021 – Weekly Review – Inauguration and a week of All-Time Highs
Summary (Weekly Chart)
$DJT – UpTrend with upward momentum. /YM – UpTrend with upward momentum and new All-time high. /RTY – UpTrend with upward momentum and new All-Time high. /NQ – UpTrend with upward momentum and new All-Time high. /ES – UpTrend with upward momentum.
The indices made new all-time highs for the week and pulled back on Friday. UpTrend continues.
/CL – UpTrend with upward momentum. /GC – DownTrend with downward momentum and in a Squeeze. /ZB – DownTrend with Downward momentum and in a preliminary Squeeze. HYG – UpTrend with upward momentum. DBC – UpTrend with upward momentum.
$DXY – DownTrend with downward momentum. EUR/USD – UpTrend with upward momentum. USD/JPY – DownTrend with sideward momentum and in a Weekly and Monthly Squeeze.
US Dollar continues to squeeze downward.
Summary (Daily Chart) $DJT – UpTrend with downward momentum. /YM – UpTrend with downward momentum and in a preliminary Squeeze. /RTY – UpTrend with upward momentum . /NQ – UpTrend with upward momentum and in a preliminary Squeeze. /ES – UpTrend with upward momentum.
/CL – UpTrend with upward momentum. /GC – DownTrend with sideward momentum. /ZB – Downward with downward momentum. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with Downward momentum.
Oil continues to trade above USD 50 but is meeting some resistance at that level. High Yield bond (HYG) which measures market appetite for risk continues to trend upwards. Commodities (DBC) is in an UpTrend with Downward momentum. It is a risk-on market.
$DXY – Sidewards with upward momentum. EUR/USD – Sideward with downward momentum and in a preliminary Squeeze. USD/JPY – UpTrend with sideward momentum and in a Squeeze.
Market Internals (Daily Chart) Market Sentiment – Extremely Bullish . Put/Call ratio – 0.496. Market Breadth – sloping downward showing more losers to gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 145.55. Vix – 21.91.
Market Internals are showing some weakness with a potential for pullback.
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, XLF, XLE, XLI, XLB, XLU and XLP.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are SPX, SPY, XLK, /ES, XLY, XLV, XLI, XLB, XLF, XLP, XLU and XLE.
22 January 2021 – Weekly Review – Inauguration and a week of All-Time Highs
Summary (Weekly Chart)
$DJT – UpTrend with upward momentum. /YM – UpTrend with upward momentum and new All-time high. /RTY – UpTrend with upward momentum and new All-Time high. /NQ – UpTrend with upward momentum and new All-Time high. /ES – UpTrend with upward momentum.
The indices made new all-time highs for the week and pulled back on Friday. UpTrend continues.
/CL – UpTrend with upward momentum. /GC – DownTrend with downward momentum and in a Squeeze. /ZB – DownTrend with Downward momentum and in a preliminary Squeeze. HYG – UpTrend with upward momentum. DBC – UpTrend with upward momentum.
$DXY – DownTrend with downward momentum. EUR/USD – UpTrend with upward momentum. USD/JPY – DownTrend with sideward momentum and in a Weekly and Monthly Squeeze.
US Dollar continues to squeeze downward.
Summary (Daily Chart)
$DJT – UpTrend with downward momentum. /YM – UpTrend with downward momentum and in a preliminary Squeeze. /RTY – UpTrend with upward momentum . /NQ – UpTrend with upward momentum and in a preliminary Squeeze. /ES – UpTrend with upward momentum.
/CL – UpTrend with upward momentum. /GC – DownTrend with sideward momentum. /ZB – Downward with downward momentum. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with Downward momentum.
Oil continues to trade above USD 50 but is meeting some resistance at that level. High Yield bond (HYG) which measures market appetite for risk continues to trend upwards. Commodities (DBC) is in an UpTrend with Downward momentum. It is a risk-on market.
$DXY – Sidewards with upward momentum. EUR/USD – Sideward with downward momentum and in a preliminary Squeeze. USD/JPY – UpTrend with sideward momentum and in a Squeeze.
Market Internals (Daily Chart)
Market Sentiment – Extremely Bullish . Put/Call ratio – 0.496. Market Breadth – sloping downward showing more losers to gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 145.55. Vix – 21.91.
Market Internals are showing some weakness with a potential for pullback.
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, XLF, XLE, XLI, XLB, XLU and XLP.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are SPX, SPY, XLK, /ES, XLY, XLV, XLI, XLB, XLF, XLP, XLU and XLE.
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