11 November 2021 – Inflation worries drag down market
Summary (The Week Ahead) $DJT – UpTrend and decelerating upward momentum. /YM – UpTrend and decelerating upward momentum. /RTY – UpTrend and decelerating upward momentum. /NQ – UpTrend and decelerating upward momentum. /ES – UpTrend with decelerating upward momentum.
The indices are still in an upTrend but has lost momentum.
/CL – Sideward Trend and accelerating downward momentum and in a Squeeze. /GC – UpTrend and accelerating upward momentum. /ZB – UpTrend and accelerating upward momentum. HYG – DownTrend with decelerating upward momentum and in a preliminary Squeeze. DBC – Sideward Trend with accelerating downward momentum.
Junk bond (HYG) and DBC are trending sideward with bearish bias. This indicates the market is now range trading and could be turning downwards.
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 XLB, XLP, XLE, XLK, XLI, XLF, XLY, XLV and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLB, XLP, XLF, XLI, XLK, XLE, XLV, XLY and XLU.
To Your Wealth! Would you like to learn to trade Stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
11 November 2021 – Inflation worries drag down market
Summary (The Week Ahead)
$DJT – UpTrend and decelerating upward momentum. /YM – UpTrend and decelerating upward momentum. /RTY – UpTrend and decelerating upward momentum. /NQ – UpTrend and decelerating upward momentum. /ES – UpTrend with decelerating upward momentum.
The indices are still in an upTrend but has lost momentum.
/CL – Sideward Trend and accelerating downward momentum and in a Squeeze. /GC – UpTrend and accelerating upward momentum. /ZB – UpTrend and accelerating upward momentum. HYG – DownTrend with decelerating upward momentum and in a preliminary Squeeze. DBC – Sideward Trend with accelerating downward momentum.
Junk bond (HYG) and DBC are trending sideward with bearish bias. This indicates the market is now range trading and could be turning downwards.
Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.586. Market Breadth – sloping upwards showing more gainers than losers. Volume Acc/Dis – sloping downwards showing distribution. Skew – 144.03. Vix – 17.66.
Market internals are showing bullish bias.
Relative Strength – Sectors.
On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLB, XLP, XLE, XLK, XLI, XLF, XLY, XLV and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLB, XLP, XLF, XLI, XLK, XLE, XLV, XLY and XLU.
To Your Wealth!
Would you like to learn to trade Stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948.
If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
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