26 April 2021 – Market straining to move upwards

Indices/Indices as of close of 26 Apr 2021

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

The indices are trending upwards.

/CL – UpTrend and sideward momentum and in a preliminary Squeeze. /GC – UpTrend and upward momentum. /ZB – UpTrend and upward momentum and in a preliminary Squeeze. HYG – UpTrend with upward momentum. DBC – UpTrend with upward momentum.

Junk bond (HYG) and DBC are in an upTrend.

Indices/Market Internals as of close of 26 Apr 2021

Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.509. Market Breadth – sloping upwards showing more gainers than losers. Volume Acc/Dis – sloping upwards showing accumulation. Skew – 139.09. Vix – 17.64.

Market internals are showing bullishness.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 26 Apr 2021

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

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

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