16 July 2021 – Weekly Review – The beginning of a pullback?
Summary (Weekly Chart)
$DJT – DownTrend with downward momentum. /YM – UpTrend with upward momentum. /RTY – Sideward Trend with sideward momentum and in a tight Squeeze. /NQ – UpTrend with upward momentum. /ES – UpTrend with upward momentum.
The indices are in an UpTrend on the weekly chart and the S&P 500 and Nasdaq 100 are making new all-time highs.
/CL – UpTrend with upward momentum. /GC – Sideward Trend with downward momentum. /ZB – UpTrend with upward momentum. HYG – UpTrend with upward momentum and in a preliminary 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 and in a Squeeze.
US Dollar is now in an Uptrend.
Summary (Daily Chart) $DJT – DownTrend with downward momentum and in a preliminary Squeeze. /YM – UpTrend with upward momentum. /RTY – DownTrend with downward momentum. /NQ – UpTrend with upward momentum. /ES – UpTrend with upward momentum.
/CL – DownTrend with downward momentum. /GC – UpTrend with upward momentum and in a preliminary Squeeze. /ZB – UpTrend with upward momentum. HYG – DownTrend with downward momentum. DBC – UpTrend with downward momentum and in a Squeeze.
Oil is now in a DownTrend. Commodities are turning downward. High Yield bond (HYG) which measures market appetite for risk is trending downwards. It is a risk-off market.
$DXY – UpTrend with upward momentum and in apreliminary Squeeze. EUR/USD – DownTrend with downward momentum and in a preliminary Squeeze. USD/JPY – DownTrend with downward momentum and in a preliminary Squeeze.
Market Internals (Daily Chart) Market Sentiment – Bullish . Put/Call ratio – 0.707. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 151.94. Vix – 18.45.
Market Internals are showing strength.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLV, XLK, /NQ, /ES, /YM, XLP, XLU, XLY, XLI, XLF, /RTY, XLB, $DJT and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, /YM, /ES, XLP, /NQ, XLK, XLY, XLI, XLU, XLF, /RTY, XLE, XLB and $DJT.
16 July 2021 – Weekly Review – The beginning of a pullback?
Summary (Weekly Chart)
$DJT – DownTrend with downward momentum. /YM – UpTrend with upward momentum. /RTY – Sideward Trend with sideward momentum and in a tight Squeeze. /NQ – UpTrend with upward momentum. /ES – UpTrend with upward momentum.
The indices are in an UpTrend on the weekly chart and the S&P 500 and Nasdaq 100 are making new all-time highs.
/CL – UpTrend with upward momentum. /GC – Sideward Trend with downward momentum. /ZB – UpTrend with upward momentum. HYG – UpTrend with upward momentum and in a preliminary 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 and in a Squeeze.
US Dollar is now in an Uptrend.
Summary (Daily Chart)
$DJT – DownTrend with downward momentum and in a preliminary Squeeze. /YM – UpTrend with upward momentum. /RTY – DownTrend with downward momentum. /NQ – UpTrend with upward momentum. /ES – UpTrend with upward momentum.
/CL – DownTrend with downward momentum. /GC – UpTrend with upward momentum and in a preliminary Squeeze. /ZB – UpTrend with upward momentum. HYG – DownTrend with downward momentum. DBC – UpTrend with downward momentum and in a Squeeze.
Oil is now in a DownTrend. Commodities are turning downward. High Yield bond (HYG) which measures market appetite for risk is trending downwards. It is a risk-off market.
$DXY – UpTrend with upward momentum and in apreliminary Squeeze. EUR/USD – DownTrend with downward momentum and in a preliminary Squeeze. USD/JPY – DownTrend with downward momentum and in a preliminary Squeeze.
Market Internals (Daily Chart)
Market Sentiment – Bullish . Put/Call ratio – 0.707. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 151.94. Vix – 18.45.
Market Internals are showing strength.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLV, XLK, /NQ, /ES, /YM, XLP, XLU, XLY, XLI, XLF, /RTY, XLB, $DJT and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, /YM, /ES, XLP, /NQ, XLK, XLY, XLI, XLU, XLF, /RTY, XLE, XLB and $DJT.
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