23 April 2021 – Weekly Review – Plenty of stimulus money
Summary (Weekly Chart)
$DJT – UpTrend with upward momentum. /YM – UpTrend with upward momentum. /RTY – UpTrend with upward momentum. /NQ – UpTrend with upward momentum and in a preliminary Squeeze. /ES – UpTrend with upward momentum.
The indices are back on an UpTrend and Dow Transportation is in an OverBought position.
/CL – UpTrend with upward momentum. /GC – Sideward Trend with upward momentum and in a preliminary Squeeze. /ZB – DownTrend with Upward momentum. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with upward momentum.
$DXY – DownTrend with downward momentum. EUR/USD – UpTrend with upward momentum and in a preliminary Squeeze. USD/JPY – UpTrend with upward momentum.
US Dollar was in a UpTrend and has pulled back.
Summary (Daily Chart) $DJT – UpTrend with upward momentum and in a Squeeze. /YM – UpTrend with upward momentum. /RTY – UpTrend with upward momentum and in a Squeeze. /NQ – UpTrend with upward momentum. /ES – UpTrend with upward momentum.
/CL – UpTrend with sideward momentum and in a Squeeze. /GC – UpTrend with upward momentum. /ZB – UpTrend with upward momentum and in a preliminary Squeeze. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with upward momentum.
High Yield bond (HYG) which measures market appetite for risk is trending upwards. Commodities (DBC) is trending upwards. It is a risk-on market.
$DXY – DownTrend with downward momentum. EUR/USD – UpTrend with upward momentum. USD/JPY – DownTrend with downward momentum.
Market Internals (Daily Chart) Market Sentiment – Extremely Bullish . Put/Call ratio – 0.596. Market Breadth – sloping upward showing more gainers to losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 140.09. Vix – 17.33.
Market Internals are showing strength.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLI, XLV, XLB, XLF, SPX, SPY, /ES, XLK, XLY, XLP, XLU and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, XLB, XLV, XLF, SPX, SPY, /ES, XLK, XLY, XLP, XLU and XLE.
23 April 2021 – Weekly Review – Plenty of stimulus money
Summary (Weekly Chart)
$DJT – UpTrend with upward momentum. /YM – UpTrend with upward momentum. /RTY – UpTrend with upward momentum. /NQ – UpTrend with upward momentum and in a preliminary Squeeze. /ES – UpTrend with upward momentum.
The indices are back on an UpTrend and Dow Transportation is in an OverBought position.
/CL – UpTrend with upward momentum. /GC – Sideward Trend with upward momentum and in a preliminary Squeeze. /ZB – DownTrend with Upward momentum. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with upward momentum.
$DXY – DownTrend with downward momentum. EUR/USD – UpTrend with upward momentum and in a preliminary Squeeze. USD/JPY – UpTrend with upward momentum.
US Dollar was in a UpTrend and has pulled back.
Summary (Daily Chart)
$DJT – UpTrend with upward momentum and in a Squeeze. /YM – UpTrend with upward momentum. /RTY – UpTrend with upward momentum and in a Squeeze. /NQ – UpTrend with upward momentum. /ES – UpTrend with upward momentum.
/CL – UpTrend with sideward momentum and in a Squeeze. /GC – UpTrend with upward momentum. /ZB – UpTrend with upward momentum and in a preliminary Squeeze. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with upward momentum.
High Yield bond (HYG) which measures market appetite for risk is trending upwards. Commodities (DBC) is trending upwards. It is a risk-on market.
$DXY – DownTrend with downward momentum. EUR/USD – UpTrend with upward momentum. USD/JPY – DownTrend with downward momentum.
Market Internals (Daily Chart)
Market Sentiment – Extremely Bullish . Put/Call ratio – 0.596. Market Breadth – sloping upward showing more gainers to losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 140.09. Vix – 17.33.
Market Internals are showing strength.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLI, XLV, XLB, XLF, SPX, SPY, /ES, XLK, XLY, XLP, XLU and XLE.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLI, XLB, XLV, XLF, SPX, SPY, /ES, XLK, XLY, XLP, XLU and XLE.
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