Summary (The Week Ahead) $DJT – DownTrend and downward momentum. /YM – DownTrend and downward momentum. /RTY – UpTrend and sideward momentum. /NQ – UpTrend and upward momentum. /ES – UpTrend with upward momentum and in a 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. /ZB – UpTrend and upward momentum. HYG – UpTrend with upward momentum and in a preliminary Squeeze. DBC – UpTrend with upward momentum.
Junk bond (HYG) and DBC are on an upTrend again. It looks like the pullback has been short.
Market internals are showing bearish bias and the Skew is extremely high. The stage is set for this market to continue to be volatile.
Relative Strength – Sectors.
On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, XLV, SPX, /ES, SPY, XLE, XLY, XLF, XLI, XLB, XLP and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, SPX, XLV, /ES, SPY, XLE, XLI, XLY, XLF, XLP, XLB and XLU.
To Your Wealth! Would you like to learn to trade Stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
21 June 2021 – A bounce or a turnaround?
Summary (The Week Ahead)
$DJT – DownTrend and downward momentum. /YM – DownTrend and downward momentum. /RTY – UpTrend and sideward momentum. /NQ – UpTrend and upward momentum. /ES – UpTrend with upward momentum and in a 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. /ZB – UpTrend and upward momentum. HYG – UpTrend with upward momentum and in a preliminary Squeeze. DBC – UpTrend with upward momentum.
Junk bond (HYG) and DBC are on an upTrend again. It looks like the pullback has been short.
Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.66. Market Breadth – sloping downwards showing more losers than gainers. Volume Acc/Dis – sloping downwards showing distribution. Skew – 158.36. Vix – 17.89.
Market internals are showing bearish bias and the Skew is extremely high. The stage is set for this market to continue to be volatile.
Relative Strength – Sectors.
On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, XLV, SPX, /ES, SPY, XLE, XLY, XLF, XLI, XLB, XLP and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, SPX, XLV, /ES, SPY, XLE, XLI, XLY, XLF, XLP, XLB and XLU.
To Your Wealth!
Would you like to learn to trade Stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948.
If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
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