28 October 2022 – Weekly Review – Rally continues

Summary (3-Day Chart)
$DJT – Neutral Trend with Upward momentum.
/YM – UpTrend with Upward momentum.
/RTY – UpTrend with Upward momentum.
/NQ – DownTrend with Upward momentum.
/ES – Neutral Trend with Upward momentum.

/CL – DownTrend with Upward momentum.
/GC – DownTrend with Neutral momentum.
/ZB – DownTrend with Neutral momentum.
HYG – Neutral Trend with Upward momentum.
DBC – DownTrend with Upward momentum.

Summary (Daily Chart)
$DJT – UpTrend with Upward momentum.
/YM – UpTrend with Upward momentum.
/RTY – UpTrend with Upward momentum.
/NQ – Neutral Trend with Upward momentum.
/ES – UpTrend with Upward momentum.

/CL – UpTrend with Upward momentum.
/GC – DownTrend with Upward momentum.
/ZB – DownTrend with Upward momentum.
HYG – UpTrend with Upward momentum.
DBC – UpTrend with Neutral momentum.

$DXY – Neutral Trend with Downward momentum.
EUR/USD – UpTrend with Upward momentum.
USD/JPY – UpTrend with Downward momentum.

US Dollar is in an uptrend.

Tight Squeezes
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Squeezes (Daily)
/BTC, /CL, /NQ, /RTY

Preliminary Squeezes (Daily)
$DJT, $DXY, /ES, /ZN, DBC, EUR/USD, HYG, NDX

Market Internals (Daily Chart)
Market Sentiment – Bearish.
Put/Call ratio – 1.111
Market Breadth – above the threshold line showing more gainers than losers.
Volume Acc/Dis – above the threshold line showing accumulation.
Vix – 25.75

Market Internals are signaling Bullishness.

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

On a 12-monthly period, the relative strength order of the S&P ETF 500 sectors are XLE, XLV, XLI, XLP, XLU, XLF, 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 till about 10 am ET. The Bears did not give up and started to overwhelmed the Bulls and took /RTY down till about 10:12 am. From then, there was volatility till 10:35 am. The Bulls started to overwhelm the Bears managed to take the /RTY higher till market Close at 4 pm.

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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