25 October 2021 – Indices melting up!

Indices/Indices as of close of 25 October 2021

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

The indices are now in an upTrend and accelerating upward.

/CL – UpTrend and decelerating upward momentum. /GC –UpTrend and accelerating upward momentum. /ZB – DownTrend and decelerating downward momentum. HYG – DownTrend with decelerating downward momentum. DBC – UpTrend with decelerating upward momentum.

Junk bond (HYG) and DBC are trending in opposite directions. This indicates a risk-on market.

Indices/Market Internals as of close of 25 October 2021 — Market Internals

Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.597. Market Breadth – sloping upwards showing more gainers than losers. Volume Acc/Dis – sloping downwards showing distribution. Skew – 140.94. Vix – 15.24.

Market internals are showing bullishness.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 25 October 2021 — Ranking the Strength of the S&P 500 ETFs over 12 month period

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

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

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