10 August 2021 – Dow rises to new All-time high

Indices/Indices as of close of 10 August 2021

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

The indices remained volatile.

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

Junk bond (HYG) is on a downTrend and DBC is range trading. The market is volatile.

Indices/Market Internals as of close of 10 August 2021

Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.55. Market Breadth – sloping upwards showing more gainers than losers. Volume Acc/Dis – sloping upwards showing accumulation. Skew – 148.27. Vix – 16.79.

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

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 10 August 2021

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

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

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