Market Internals Market Sentiment – Bearish. Put/Call ratio – 1.051 Market Breadth – above threshold line showing more gainers than losers. Volume Acc/Dis – above threshold line showing accumulation overall. Vix – 27.39
QTiTTs signal is Neutral.
Relative Strength – Sectors
Chart 3 – 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, XLV, XLF, XLI, XLP, XLB, XLU, XLK, XLY and XLC.
On a 12-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLE, XLV, XLI, XLP, XLF, XLU, XLB, XLK, XLY and XLC.
Chart 4 -1 minute day chart with QTiTTs
In chart 4 above, there was the initial violent up/down movement that characterize the market Open. The Bulls had the initial advantage but the Bears did not give up. At about 9:45 am ET, the Bears finally overwhelmed the Bulls and took the market down till about 10 am. After that, the Bulls came back in and took it higher but it was very much a range trading tussle till near to 2 pm ET when the Bears finally took the /RTY down.
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.
Definitions Bullish bias – Candle Close is above 55 SMA and 8 EMA or 21 EMA and 8 EMA is above 21 EMA Bullish – Candle Close is above 8 EMA, 21 EMA, 55 SMA and 8 EMA is above 21 EMA Bearish bias – Candle Close is below 55 SMA and 8 EMA or 21 EMA and 8 EMA is below 21 EMA Bearish – Candle Close is below 8 EMA, 21 EMA, 55 SMA and 8 EMA is below 21 EMA
27 October 2022 – Bulls hit a Wall of Resistance
Summary (The Week Ahead)
$DJT – Neutral Trend and Upward momentum.
/YM – UpTrend and Upward momentum.
/RTY – Neutral Trend and Upward momentum.
/NQ – Neutral Trend and Upward momentum.
/ES – Neutral Trend and Upward momentum.
The indices are trending downward and momentum is downward.
/CL – UpTrend and Upward momentum.
/GC – DownTrend and Upward momentum.
/ZB – DownTrend and Upward momentum.
HYG – Neutral Trend and Upward momentum.
DBC – Upward Trend and Neutral momentum.
Daily Tight Squeezes (The Week Ahead)
–
Daily Squeezes (The Week Ahead)
/BTC, /CL, /ES, /NQ, /RTY
Preliminary Squeezes (The Week Ahead)
$DJT, $DXY, EUR/USD, HYG, NDX, SPX
Market Internals
Market Sentiment – Bearish.
Put/Call ratio – 1.051
Market Breadth – above threshold line showing more gainers than losers.
Volume Acc/Dis – above threshold line showing accumulation overall.
Vix – 27.39
QTiTTs signal is Neutral.
Relative Strength – Sectors
On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLE, XLV, XLF, XLI, XLP, XLB, XLU, XLK, XLY and XLC.
On a 12-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLE, XLV, XLI, XLP, XLF, XLU, XLB, XLK, XLY and XLC.
In chart 4 above, there was the initial violent up/down movement that characterize the market Open. The Bulls had the initial advantage but the Bears did not give up. At about 9:45 am ET, the Bears finally overwhelmed the Bulls and took the market down till about 10 am. After that, the Bulls came back in and took it higher but it was very much a range trading tussle till near to 2 pm ET when the Bears finally took the /RTY down.
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.
Definitions
Bullish bias – Candle Close is above 55 SMA and 8 EMA or 21 EMA and 8 EMA is above 21 EMA
Bullish – Candle Close is above 8 EMA, 21 EMA, 55 SMA and 8 EMA is above 21 EMA
Bearish bias – Candle Close is below 55 SMA and 8 EMA or 21 EMA and 8 EMA is below 21 EMA
Bearish – Candle Close is below 8 EMA, 21 EMA, 55 SMA and 8 EMA is below 21 EMA
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