19 April 2021 – Dollar index plunges

Indices/Indices as of close of 19 Apr 2021

Summary (The Week Ahead)
$DJT – UpTrend and upward momentum. /YM – UpTrend and upward momentum. /RTY – Sideward Trend and downward momentum and in a Squeeze. /NQ – UpTrend with upward momentum. /ES – UpTrend with upward momentum.

The indices are trending upwards but momentum is turning.

/CL – UpTrend and upward momentum and in a Squeeze. /GC – UpTrend and upward momentum and in a preliminary Squeeze. /ZB – UpTrend and upward momentum and in a Squeeze. HYG – UpTrend with upward momentum. DBC – UpTrend with upward momentum.

Junk bond (HYG) and DBC are both in an upTrend. The indices are grinding upward slowly.

Indices/Market Internals as of close of 19 Apr 2021

Market Internals
Market Sentiment – Bullish. Put/Call ratio – 0.647. Market Breadth – sloping downwards showing more losers than gainers. Volume Acc/Dis – sloping upwards showing accumulation. Skew – 137.15. Vix – 17.29.

Market internals are showing bullishness.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 19 Apr 2021

On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLV, XLF, /ES, XLB, SPY, SPX, XLP, XLI, XLU, XLY, XLK and XLE.

On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLV, XLF, /ES, XLB, SPY, SPX, XLI, XLK, XLP, XLY, XLU and XLE.

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