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Z_Top5_24June 2022

Z5 Daily
Z5 - Top 5 stocks for today.

Z_Top5_23 June 2022

Z5 Daily
Z5 - Top 5 stocks for today.

8 July 2021 – Indices tumbled

Summary (The Week Ahead)
$DJTDownTrend and downward momentum and in a preliminary Squeeze. /YMUpTrend and Upward momentum and in a preliminary Squeeze. /RTYDownTrend and downward momentum and in a preliminary Squeeze. /NQ UpTrend and upward momentum. /ESUpTrend with upward momentum.

The indices are giving mixed signals. The Dow Transportation and Russell 2000 are heading downwards but the S&P 500, Nasdaq 100 and Dow Industrial are still in an upTrend.

/CLSideward Trend and downward momentum and in a Squeeze. /GCSideward Trend and upward momentum. /ZBUpTrend and upward momentum. HYGUpTrend with upward momentum. DBCDownTrend with downward momentum and in a preliminary Squeeze.

Junk bond (HYG) and DBC are diverging.

Market Internals
Market SentimentBullish. Put/Call ratio – 0.613. Market Breadth – sloping downwards showing more losers than gainers. Volume Acc/Dis – sloping downwards showing distribution. Skew – 152.15. Vix – 16.2.

Market internals are showing bearish bias and the Skew is extremely high. The number of stocks going up is narrowing. The stage is set for this market to continue to be volatile and reverse downward.

Relative Strength – Sectors.

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

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

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