5 September 2023 – Indices fall

Indices/Indices as of close of 5 September 2023 — Chart 1: Overall market analysis of the indices, oil, gold, bond and US dollar index

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

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

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

Daily Tight Squeezes (The Week Ahead)
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Daily Squeezes (The Week Ahead)
USD/JPY

Preliminary Squeezes (The Week Ahead)
$DXY, /ES, /GC, /RTY, /YM, /ZB, /ZN, EUR/USD

Indices/Market Internals as of close of 5 September 2023 — Chart 2 – Market Internals

Market Internals
Market Breadth – above threshold showing more gainers than losers.
Volume Acc/Dis – above threshold showing accumulation.
Vix – 14.01
QTiTTs signal is UpTrend.

Indices/S&P 500 Sectors as close of 5 September 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 XLE, XLK, XLC, XLF, XLY, XLI, XLB, XLV, XLU and XLP.

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

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

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