/CL – UpTrend. /GC – UpTrend and in a Squeeze. /ZB – UpTrend. HYG – DownTrend.
$DXY – DownTrend and in a preliminary Squeeze. EUR/USD – DownTrend and in a Squeeze. USD/JPY – DownTrend and in a preliminary Squeeze.
Market Internals (Daily Chart) Market Sentiment – Bullish.Put/Call ratio – 0.74. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Longer term Volume Acc/Dis is showing an UpTrend. Vix – 27.98 and Vix Futures – 29.41. Skew – 132.21.
As more countries are planning to transition away from the lockdown, market is responding to it positively. Market Internals are showing bullishness. Record unemployment in the USA has been factored in and the market continues its upward trajectory. With the FED conjuring unlimited amount of US dollars and purchasing US Treasury bonds and corporate bonds, this market will be left to run upwards and disconnect from the economy.
Oil continues to recover from its lows and have climbed above US$20 per barrel. Gold is range trading for around the US$1700 per Troy ounce.
The prognosis is for a continued upward trend for the indices.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, XLV, XLY, /ES, SPX, SPY, XLB, XLP, XLE, XLI, XLU and XLF.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, XLK, XLY, /ES, SPX, SPY, XLB, XLP, XLU, XLI, XLF and XLE.
To Your Wealth! Would you like to learn to trade stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
8 May 2020 – Weekly Review – A week for the bulls
Summary (Weekly Chart)
$DJT – DownTrend. /YM – UpTrend. /RTY – UpTrend. /NQ – UpTrend. /ES – UpTrend.
/CL – DownTrend. /GC – UpTrend and in a preliminary Squeeze. /ZB – UpTrend. $DXY – DownTrend. HYG – DownTrend.
$DXY – DownTrend. EUR/USD – DownTrend and in a Squeeze. USD/JPY – DownTrend and in a Squeeze.
Summary (Daily Chart)
$DJT – DownTrend. /YM – UpTrend. /RTY – UpTrend. /NQ – UpTrend. /ES – UpTrend.
/CL – UpTrend. /GC – UpTrend and in a Squeeze. /ZB – UpTrend. HYG – DownTrend.
$DXY – DownTrend and in a preliminary Squeeze. EUR/USD – DownTrend and in a Squeeze. USD/JPY – DownTrend and in a preliminary Squeeze.
Market Internals (Daily Chart)
Market Sentiment – Bullish. Put/Call ratio – 0.74. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Longer term Volume Acc/Dis is showing an UpTrend. Vix – 27.98 and Vix Futures – 29.41. Skew – 132.21.
As more countries are planning to transition away from the lockdown, market is responding to it positively. Market Internals are showing bullishness. Record unemployment in the USA has been factored in and the market continues its upward trajectory. With the FED conjuring unlimited amount of US dollars and purchasing US Treasury bonds and corporate bonds, this market will be left to run upwards and disconnect from the economy.
Oil continues to recover from its lows and have climbed above US$20 per barrel. Gold is range trading for around the US$1700 per Troy ounce.
The prognosis is for a continued upward trend for the indices.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, XLV, XLY, /ES, SPX, SPY, XLB, XLP, XLE, XLI, XLU and XLF.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, XLK, XLY, /ES, SPX, SPY, XLB, XLP, XLU, XLI, XLF and XLE.
To Your Wealth!
Would you like to learn to trade stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
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