26 June 2020: Weekly Review – A Down week. Pandemic spreads
Summary (Weekly Chart) $DJT – DownTrend and in a monthly Squeeze. /YM – UpTrend. /RTY – UpTrend and in a monthly Squeeze. /NQ – UpTrend and in a monthly Squeeze. /ES – UpTrend and in a monthly Squeeze.
/CL – UpTrend. /GC – UpTrend and in a preliminary Squeeze. /ZB – UpTrend and in a preliminary Squeeze. HYG – UpTrend and in a preliminary Squeeze.
$DXY – DownTrend and in a highly compressed Squeeze. EUR/USD – UpTrend and in a Squeeze. USD/JPY – DownTrend and in a nested Squeeze.
Summary (Daily Chart) $DJT – DownTrend. /YM –DownTrend. /RTY – DownTrend. /NQ – DownTrend and in a Squeeze. /ES – DownTrend and in a preliminary Squeeze.
/CL –DownTrend and in a Squeeze. /GC – UpTrend and in a nested Squeeze. /ZB – UpTrend. HYG – UpTrend and in a preliminary Squeeze.
$DXY – UpTrend and in a daily and weekly Squeeze. EUR/USD – DownTrend and in a daily and weekly Squeeze. USD/JPY – UpTrend and in a weekly Squeeze.
Market Internals (Daily Chart) Market Sentiment – Bearish.Put/Call ratio – 0.878. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Vix – 34.73 and Vix Futures – 34.45. Skew – 137.47.
The indices are still in an UpTrend on the weekly chart and DownTrend on the daily chart. With the pandemic not getting better in the US of A, it is likely there will be further pullback.
The prognosis that the indices will come under selling pressure and likely to range trade.
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, XLF, XLE, XLV, XLP and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, XLY, XLV, XLB, SPX, /ES, SPY, XLP, XLI, XLU, XLF and XLE.
26 June 2020: Weekly Review – A Down week. Pandemic spreads
Summary (Weekly Chart)
$DJT – DownTrend and in a monthly Squeeze. /YM – UpTrend. /RTY – UpTrend and in a monthly Squeeze. /NQ – UpTrend and in a monthly Squeeze. /ES – UpTrend and in a monthly Squeeze.
/CL – UpTrend. /GC – UpTrend and in a preliminary Squeeze. /ZB – UpTrend and in a preliminary Squeeze. HYG – UpTrend and in a preliminary Squeeze.
$DXY – DownTrend and in a highly compressed Squeeze. EUR/USD – UpTrend and in a Squeeze. USD/JPY – DownTrend and in a nested Squeeze.
Summary (Daily Chart)
$DJT – DownTrend. /YM –DownTrend. /RTY – DownTrend. /NQ – DownTrend and in a Squeeze. /ES – DownTrend and in a preliminary Squeeze.
/CL –DownTrend and in a Squeeze. /GC – UpTrend and in a nested Squeeze. /ZB – UpTrend. HYG – UpTrend and in a preliminary Squeeze.
$DXY – UpTrend and in a daily and weekly Squeeze. EUR/USD – DownTrend and in a daily and weekly Squeeze. USD/JPY – UpTrend and in a weekly Squeeze.
Market Internals (Daily Chart)
Market Sentiment – Bearish. Put/Call ratio – 0.878. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Vix – 34.73 and Vix Futures – 34.45. Skew – 137.47.
The indices are still in an UpTrend on the weekly chart and DownTrend on the daily chart. With the pandemic not getting better in the US of A, it is likely there will be further pullback.
The prognosis that the indices will come under selling pressure and likely to range trade.
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, XLF, XLE, XLV, XLP and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLK, XLY, XLV, XLB, SPX, /ES, SPY, XLP, XLI, XLU, XLF and XLE.
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