4 April 2023 – Gold breaks above 2000 USD

Indices/Indices as of close of 4 April 2023 — Chart 1: Overall market analysis of the indices, oil, gold, bond and US dollar index

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

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

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

Daily Tight Squeezes (The Week Ahead)
/RTY

Daily Squeezes (The Week Ahead)
/ZB, /ZN

Preliminary Squeezes (The Week Ahead)
$DJT, HYG, USD/JPY

Indices/Market Internals as of close of 4 April 2023 — Chart 2 – Market Internals

Market Internals
Market Sentiment – Extremly Bearish
Put/Call ratio – 0.937
Market Breadth – above threshold showing more gainers than losers.
Volume Acc/Dis – above threshold showing accumulation.
Vix – 19.0

QTiTTs signal is Upward.

Relative Strength – Sectors

Indices/S&P 500 Sectors as close of 4 April 2023 — 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 XLK, XLP, XLC, XLV, XLY, XLE, XLU, XLB, XLI and XLF.

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

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

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