19 March 2021 – Weekly Review – Indices pulled back, UpTrend remains
Summary (Weekly Chart)
$DJT – UpTrend with upward momentum. /YM – UpTrend with upward momentum. /RTY – UpTrend with upward momentum. /NQ – UpTrend with downward momentum. /ES – UpTrend with upward momentum.
The indices are back on an UpTrend during a volatile week.
/CL – UpTrend with upward momentum. /GC – DownTrend with downward momentum and in a preliminary Squeeze. /ZB – DownTrend with Downward momentum. HYG – Sideward Trend with downward momentum. DBC – UpTrend with upward momentum.
$DXY – Sideward Trend with upward momentum. EUR/USD – DownTrend with downward momentum and in a preliminary Squeeze. USD/JPY – UpTrend with upward momentum.
US Dollar is still sidewards and does not know which way it wants to go.
Summary (Daily Chart) $DJT – UpTrend with upward momentum. /YM – UpTrend with upward momentum. /RTY – UpTrend with upward momentum and in a preliminary Squeeze. /NQ – DownTrend with downward momentum and in a Squeeze. /ES – UpTrend with upward momentum and in a Squeeze.
/CL – DownTrend with downward momentum and in a preliminary Squeeze. /GC – DownTrend with upward momentum. /ZB – DownTrend with downward momentum. HYG – DownTrend with downward momentum and in a preliminary Squeeze. DBC – DownTrend with downward momentum.
Oil is showing signs of pulling back. High Yield bond (HYG) which measures market appetite for risk is trending downwards. Commodities (DBC) is trending downwards as well. It is a risk-off market.
$DXY – UpTrend with upward momentum. EUR/USD – DownTrend with downward momentum. USD/JPY – UpTrend with upward momentum.
Market Internals (Daily Chart) Market Sentiment – Bullish . Put/Call ratio – 0.635. Market Breadth – sloping downward showing more losers to gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 141.47. Vix – 21.58.
Market Internals are showing weakness.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLI, XLB, XLF, SPX, /ES, XLP, SPY, XLE, XLY, XLU, XLV and XLK.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLB, XLI, SPX, /ES, SPY, XLF, XLY, XLP, XLV, XLK, XLE and XLU.
19 March 2021 – Weekly Review – Indices pulled back, UpTrend remains
Summary (Weekly Chart)
$DJT – UpTrend with upward momentum. /YM – UpTrend with upward momentum. /RTY – UpTrend with upward momentum. /NQ – UpTrend with downward momentum. /ES – UpTrend with upward momentum.
The indices are back on an UpTrend during a volatile week.
/CL – UpTrend with upward momentum. /GC – DownTrend with downward momentum and in a preliminary Squeeze. /ZB – DownTrend with Downward momentum. HYG – Sideward Trend with downward momentum. DBC – UpTrend with upward momentum.
$DXY – Sideward Trend with upward momentum. EUR/USD – DownTrend with downward momentum and in a preliminary Squeeze. USD/JPY – UpTrend with upward momentum.
US Dollar is still sidewards and does not know which way it wants to go.
Summary (Daily Chart)
$DJT – UpTrend with upward momentum. /YM – UpTrend with upward momentum. /RTY – UpTrend with upward momentum and in a preliminary Squeeze. /NQ – DownTrend with downward momentum and in a Squeeze. /ES – UpTrend with upward momentum and in a Squeeze.
/CL – DownTrend with downward momentum and in a preliminary Squeeze. /GC – DownTrend with upward momentum. /ZB – DownTrend with downward momentum. HYG – DownTrend with downward momentum and in a preliminary Squeeze. DBC – DownTrend with downward momentum.
Oil is showing signs of pulling back. High Yield bond (HYG) which measures market appetite for risk is trending downwards. Commodities (DBC) is trending downwards as well. It is a risk-off market.
$DXY – UpTrend with upward momentum. EUR/USD – DownTrend with downward momentum. USD/JPY – UpTrend with upward momentum.
Market Internals (Daily Chart)
Market Sentiment – Bullish . Put/Call ratio – 0.635. Market Breadth – sloping downward showing more losers to gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 141.47. Vix – 21.58.
Market Internals are showing weakness.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLI, XLB, XLF, SPX, /ES, XLP, SPY, XLE, XLY, XLU, XLV and XLK.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLB, XLI, SPX, /ES, SPY, XLF, XLY, XLP, XLV, XLK, XLE and XLU.
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