14 June 2021 – Sell signal in Dow Transportation

Indices/Indices as of close of 14 Jun 2021

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

The indices are giving mixed signals. The Dow Transportation is heading downwards but the S&P 500 is heading upwards.

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

Junk bond (HYG) and DBC are heading upwards.

Indices/Market Internals as of close of 14 June 2021

Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.493. Market Breadth – sloping upwards showing more gainers than losers. Volume Acc/Dis – sloping downwards showing distribution. Skew – 160.64. Vix – 16.39.

Market internals are showing bullish bias.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 14 June 2021

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

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

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