18 June 2021 – Weekly Review – S&P 500 joins the Dows in heading South
Summary (Weekly Chart)
$DJT – UpTrend with downward momentum. /YM – UpTrend with downward momentum. /RTY – Sideward Trend with downward momentum and in a tight Squeeze. /NQ – UpTrend with upward momentum and in a preliminary Squeeze. /ES – UpTrend with upward momentum.
The indices are turning downwards on the weekly chart.
/CL – UpTrend with upward momentum and in a preliminary Squeeze. /GC – DownTrend with downward momentum. /ZB – UpTrend with upward momentum. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with upward momentum.
Both HYG and DBC are in an UpTrend and as such the upTrend is intact.
$DXY – UpTrend with upward momentum and in a preliminary Squeeze. EUR/USD – DownTrend with downward momentum and in a preliminary Squeeze. USD/JPY – UpTrend with upward momentum.
US Dollar has turned uptrend.
Summary (Daily Chart) $DJT – DownTrend with downward momentum. /YM – DownTrend with downward momentum. /RTY – DownTrend with downward momentum. /NQ – UpTrend with upward momentum. /ES – DownTrend with downward momentum and in a Squeeze.
/CL – UpTrend with upward momentum. /GC – DownTrend with downward momentum. /ZB – UpTrend with upward momentum. HYG – UpTrend with upward momentum and in a preliminary Squeeze. DBC – DownTrend with downward momentum.
Commodities have turned downwards. High Yield bond (HYG) which measures market appetite for risk is still trending upwards. The market is turning downwards.
$DXY – UpTrend with upward momentum. EUR/USD – DownTrend with downward momentum. USD/JPY – UpTrend with upward momentum and in a preliminary Squeeze.
Market Internals (Daily Chart) Market Sentiment – Bullish . Put/Call ratio – 0.55. Market Breadth – sloping upward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 150.78. Vix – 20.70.
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 XLK, XLV, SPX, SPY, XLE, /ES, XLY, XLP, XLF, XLB, XLI and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, XLV, SPX, SPY, /ES, XLE, XLY, XLI, XLF, XLP, XLB and XLU.
18 June 2021 – Weekly Review – S&P 500 joins the Dows in heading South
Summary (Weekly Chart)
$DJT – UpTrend with downward momentum. /YM – UpTrend with downward momentum. /RTY – Sideward Trend with downward momentum and in a tight Squeeze. /NQ – UpTrend with upward momentum and in a preliminary Squeeze. /ES – UpTrend with upward momentum.
The indices are turning downwards on the weekly chart.
/CL – UpTrend with upward momentum and in a preliminary Squeeze. /GC – DownTrend with downward momentum. /ZB – UpTrend with upward momentum. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with upward momentum.
Both HYG and DBC are in an UpTrend and as such the upTrend is intact.
$DXY – UpTrend with upward momentum and in a preliminary Squeeze. EUR/USD – DownTrend with downward momentum and in a preliminary Squeeze. USD/JPY – UpTrend with upward momentum.
US Dollar has turned uptrend.
Summary (Daily Chart)
$DJT – DownTrend with downward momentum. /YM – DownTrend with downward momentum. /RTY – DownTrend with downward momentum. /NQ – UpTrend with upward momentum. /ES – DownTrend with downward momentum and in a Squeeze.
/CL – UpTrend with upward momentum. /GC – DownTrend with downward momentum. /ZB – UpTrend with upward momentum. HYG – UpTrend with upward momentum and in a preliminary Squeeze. DBC – DownTrend with downward momentum.
Commodities have turned downwards. High Yield bond (HYG) which measures market appetite for risk is still trending upwards. The market is turning downwards.
$DXY – UpTrend with upward momentum. EUR/USD – DownTrend with downward momentum. USD/JPY – UpTrend with upward momentum and in a preliminary Squeeze.
Market Internals (Daily Chart)
Market Sentiment – Bullish . Put/Call ratio – 0.55. Market Breadth – sloping upward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 150.78. Vix – 20.70.
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 XLK, XLV, SPX, SPY, XLE, /ES, XLY, XLP, XLF, XLB, XLI and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, XLV, SPX, SPY, /ES, XLE, XLY, XLI, XLF, XLP, XLB and XLU.
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