12 December 2022 – Indices rallied on FED hopes

Indices/Indices as of close of 12 December 2022 — Chart 1: Overall market analysis of the indices, oil, gold, bond and US dollar index

Summary (The Week Ahead)
$DJT – UpTrend and Downward momentum.
/YM – UpTrend and Downward momentum.
/RTY – UpTrend and Downward momentum.
/NQ – UpTrend and Downward momentum.
/ES – UpTrend and Downward momentum.

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

Daily Tight Squeezes (The Week Ahead)
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Daily Squeezes (The Week Ahead)
$DJI, /BTC, /ES, /NQ, /RTY, /YM, NDX

Preliminary Squeezes (The Week Ahead)
$DJT, $DXY, EUR/USD, HYG, SPX

Indices/Market Internals as of close of 12 December 2022 — Chart 2 – Market Internals

Market Internals
Market Sentiment – Bullish.
Put/Call ratio – 1.348
Market Breadth – below threshold showing more losers than gainers.
Volume Acc/Dis – below threshold line showing distribution.
Vix – 25.0

QTiTTs signal is Bullish.

Relative Strength – Sectors

Indices/S&P 500 Sectors as close of 12 December 2022 — 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 XLU, XLV, XLP, XLI, XLK, XLB, XLF, XLC, XLE and XLY.

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

In chart 4 above shows the 1 minute chart of the /RTY.

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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