20 June 2023 – Indices pulling back?

Indices/Indices as of close of 20 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 Neutral momentum.
/NQ – UpTrend and Neutral momentum.
/RTY – UpTrend and Neutral momentum.
/YM – UpTrend and Neutral momentum.

/CL – DownTrend and Upward momentum.
/GC – DownTrend and Downward momentum.
/ZB – NoTrend 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 – UpTrend and Upward momentum.

Daily Tight Squeezes (The Week Ahead)
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Daily Squeezes (The Week Ahead)
/BTC, /CL, /GC, /SI, /ZB, /ZN, USD/JPY

Preliminary Squeezes (The Week Ahead)
EUR/USD

Indices/Market Internals as of close of 20 June 2023 — Chart 2 – Market Internals

Market Internals
Market Breadth – above threshold showing more gainers than losers.
Volume Acc/Dis – above threshold showing accumulation.
Vix – 13.88
QTiTTs signal is Upward.

Relative Strength – Sectors

Indices/S&P 500 Sectors as close of 20 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, XLC, XLK, XLI, XLB, XLF, XLV, XLU, XLP and XLE.

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

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

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