10 March 2023 – Weekly Review – Silicon Valley Bank/Financial

Indices/Weekly Indices as of close of 10 March 2023 2023 — Chart 1: Weekly chart of the S&P 500 sectors

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

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

$DXY – NoTrend and Upward momentum.
EUR/USD – UpTrend and Downward momentum.
USD/JPY – NoTrend and Upward momentum.

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

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

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

Tight Squeezes
–

Squeezes (Daily)
/CL, EUR/USD

Preliminary Squeezes (Daily)
$DXY, /GC, /NQ, /ZB, /ZN, DBC, HYG, USD/JPY

Indices/Market Internals as of close of 10 March 2023 — Market Internals

Market Internals (Daily Chart)
Market Sentiment – Extremely Bearish.
Put/Call ratio – 0.764
Market Breadth – below threshold line showing more losers than gainers.
Volume Acc/Dis – below the threshold line showing distribution.
Vix – 24.8

Indices/S&P 500 Sectors as close of 10 March 2023 — Table 1: Tabulation of the S&P 500 Sectors

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

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

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