18 May 2020 – Market surges upward on vaccine optimism
Summary (The Week Ahead) $DJT – UpTrend and in preliminary Squeeze. /YM – UpTrend and in a Squeeze. /RTY – UpTrend and in a preliminary Squeeze. /NQ – UpTrend and in a preliminary Squeeze. /ES – DownTrend and in a Squeeze.
Volatility is compressed.
/CL –UpTrend. /GC – UpTrendand in a Squeeze. /ZB – DownTrendand in Squeeze.HYG – UpTrend and in a Squeeze. DBC – DownTrend and in a preliminary Squeeze.
Commodities is making a move which is rather bullish for the market.
$DXY – UpTrend and in a Squeeze. EUR/USD – UpTrend and in a Squeeze. USD/JPY – UpTrend and in a preliminary Squeeze.
Market Internals Market Sentiment – Bullish. Put/Call ratio – 0.605. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Vix – 29.30 and Vix Futures – 29.55. Skew – 129.23.
The Squeezes in the indices are indicating that a big move is coming up.
Bond market traded upward. Gold is now back above US$1700 but has pulled back as the indices surged. Market Internals are indicating bearishness. HYG which is the ETF for high yield bonds is trading sideways with bearish bias. The prognosis is that the market is turning downward.
Relative Strength – Sectors.
On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLY, XLE, SPX, XLK, SPY, /ES, XLB, XLV, XLP, XLI, XLF and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, XLK, XLY, XLB, SPY, SPX, /ES, XLP, XLU, XLI, XLE and XLF.
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.
18 May 2020 – Market surges upward on vaccine optimism
Summary (The Week Ahead)
$DJT – UpTrend and in preliminary Squeeze. /YM – UpTrend and in a Squeeze. /RTY – UpTrend and in a preliminary Squeeze. /NQ – UpTrend and in a preliminary Squeeze. /ES – DownTrend and in a Squeeze.
Volatility is compressed.
/CL – UpTrend. /GC – UpTrend and in a Squeeze. /ZB – DownTrend and in Squeeze. HYG – UpTrend and in a Squeeze. DBC – DownTrend and in a preliminary Squeeze.
Commodities is making a move which is rather bullish for the market.
$DXY – UpTrend and in a Squeeze. EUR/USD – UpTrend and in a Squeeze. USD/JPY – UpTrend and in a preliminary Squeeze.
Market Internals
Market Sentiment – Bullish. Put/Call ratio – 0.605. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Vix – 29.30 and Vix Futures – 29.55. Skew – 129.23.
The Squeezes in the indices are indicating that a big move is coming up.
Bond market traded upward. Gold is now back above US$1700 but has pulled back as the indices surged. Market Internals are indicating bearishness. HYG which is the ETF for high yield bonds is trading sideways with bearish bias. The prognosis is that the market is turning downward.
Relative Strength – Sectors.
On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLY, XLE, SPX, XLK, SPY, /ES, XLB, XLV, XLP, XLI, XLF and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, XLK, XLY, XLB, SPY, SPX, /ES, XLP, XLU, XLI, XLE and XLF.
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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