16 June 2023 – Weekly Review – A very bullish week

Indices/Weekly Indices as of close of 16 Jun 2023 2023 — Chart 1: Weekly chart of the S&P 500 sectors

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

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

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

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

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

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

Tight Squeezes
/GC

Squeezes (Daily)
/BTC, /ES, /GC, /SI, /YM, /ZB, EUR/USD, HYG

Preliminary Squeezes (Daily)
/NQ, /ZN

Indices/Market Internals as of close of 16 June 2023 — Market Internals

Market Internals (Daily Chart)
Market Breadth – above threshold line showing more gainers than losers.
Volume Acc/Dis – above the threshold line showing accumulation.
Vix – 13.54

Relative Strength – Sectors

Indices/S&P 500 Sectors as close of 16 June 2023 — Chart 3 – Ranking the Strength of the S&P 500 ETFs over 12 month period

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

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

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