21 July 2021 – Back in an UpTrend

Indices/Indices as of close of 21 July 2021

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

The indices are heading upwards.

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

Junk bond (HYG) and DBC are in a UpTrend.

Indices/Market Internals as of close of 21 July 2021

Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.588. Market Breadth – sloping downwards showing more losers than gainers. Volume Acc/Dis – sloping upwards showing accumulation. Skew – 155.34. Vix – 17.91.

Market internals are showing bullish bias and the Skew is extremely high.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 21 July 2021

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

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

Actions

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