8 June 2023 – S&P 500 in a bull market

Indices/Indices as of close of 8 June 2023 — Chart 1: Overall market analysis of the indices, oil, gold, bond and US dollar index

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

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

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

Daily Tight Squeezes (The Week Ahead)
/BTC

Daily Squeezes (The Week Ahead)
$DJT, $DXY, /CL, /GC, /SI, DBC, HYG

Preliminary Squeezes (The Week Ahead)
/YM, /ZB, /ZN, EUR/USD

Indices/Market Internals as of close of 8 June 2023 — Chart 2 – Market Internals

Market Internals
Market Sentiment – Bearish
Put/Call ratio – 1.381
Market Breadth – above threshold showing more gainers than losers.
Volume Acc/Dis – above threshold showing accumulation.
Vix – 13.65
QTiTTs signal is Upward.

Relative Strength – Sectors

Indices/S&P 500 Sectors as close of 8 June 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 XLY, XLI, XLK, XLC, XLF, XLB, XLE, XLU, XLV and XLP.

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

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

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