Indices are ranging sideways and is poised to Squeeze upward.
/CL – UpTrend and in a preliminary Squeeze. /GC – UpTrendand in a Squeeze. /ZB – Ranging Sideways. HYG – Ranging Sideways. DBC – UpTrend.
Junk bond (HYG) and commodities (DBC) are range trading.
$DXY – Downward. EUR/USD – Upward and in a preliminary Squeeze. USD/JPY – DownTrend.
Market Internals Market Sentiment – Very Bullish. Put/Call ratio – 0.602.Market Breadth – sloping downward showing more losers to gainers. Volume Acc/Dis – sloping downward and showing distribution. Vix –31.37. Vix Futures – 31.75. Skew – 135.20.
The indices looked poised to surge higher. Every bad news resulted in a minor sell-off and has been bought. This is a market where the FED would like the indices to be higher with the hope of pulling up the US economy. The prognosis is for the indices to breakout to new highs.
Relative Strength – Sectors.
On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, XLY, SPX, /ES, SPY, XLB, XLI, XLP, XLV, XLF, XLE, and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, XLY, XLV, SPX, SPY, /ES, XLB, XLP, XLI, XLU, 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.
23 June 2020 – Market at a crossroad?
Summary (The Week Ahead)
$DJT – Ranging Sideways. /YM – Ranging Sideways. /RTY – Ranging Sideways. /NQ – UpTrend. /ES – Ranging Sideways.
Indices are ranging sideways and is poised to Squeeze upward.
/CL – UpTrend and in a preliminary Squeeze. /GC – UpTrend and in a Squeeze. /ZB – Ranging Sideways. HYG – Ranging Sideways. DBC – UpTrend.
Junk bond (HYG) and commodities (DBC) are range trading.
$DXY – Downward. EUR/USD – Upward and in a preliminary Squeeze. USD/JPY – DownTrend.
Market Internals
Market Sentiment – Very Bullish. Put/Call ratio – 0.602. Market Breadth – sloping downward showing more losers to gainers. Volume Acc/Dis – sloping downward and showing distribution. Vix –31.37. Vix Futures – 31.75. Skew – 135.20.
The indices looked poised to surge higher. Every bad news resulted in a minor sell-off and has been bought. This is a market where the FED would like the indices to be higher with the hope of pulling up the US economy. The prognosis is for the indices to breakout to new highs.
Relative Strength – Sectors.
On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLK, XLY, SPX, /ES, SPY, XLB, XLI, XLP, XLV, XLF, XLE, and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, XLY, XLV, SPX, SPY, /ES, XLB, XLP, XLI, XLU, 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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