21 May 2021 – Weekly Review – As the market trend downwards
Summary (Weekly Chart)
$DJT – UpTrend with upward momentum. /YM – UpTrend with upward momentum. /RTY – Sideward Trend with sideward momentum and in a Squeeze. /NQ – UpTrend with sideward momentum and in a Squeeze. /ES – UpTrend with upward momentum.
The indices are still in an UpTrend on the weekly chart.
/CL – UpTrend with upward momentum. /GC – UpTrend with upward momentum and in a preliminary Squeeze. /ZB – DownTrend with downward momentum. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with upward momentum.
Both HYG and DBC are in an UpTrend and as such the upTrend is intact.
$DXY – DownTrend with downward momentum and in a preliminary Squeeze. EUR/USD – UpTrend with upward momentum and in a preliminary Squeeze. USD/JPY – UpTrend with upward momentum.
US Dollar continue its downtrend.
Summary (Daily Chart) $DJT – DownTrend with downward momentum. /YM – UpTrend with upward momentum and in a Squeeze. /RTY – DownTrend with upward momentum and in a preliminary Squeeze. /NQ – Sideward Trend with upward momentum. /ES – UpTrend with upward momentum and in a Squeeze.
/CL – Sideward Trend with downward momentum and in a Squeeze. /GC – UpTrend with upward momentum. /ZB – Sideward Trend with upward momentum and in a Squeeze. HYG – UpTrend with upward momentum and in a preliminary Squeeze. DBC – DownTrend with downward momentum.
Commodities are now in a downTrend. High Yield bond (HYG) which measures market appetite for risk is trending sidewards. It is a risk-off market.
$DXY – DownTrend with downward momentum. EUR/USD – UpTrend with upward momentum and in a preliminary Squeeze. USD/JPY – DownTrend with downward momentum.
Market Internals (Daily Chart) Market Sentiment – Extremely Bullish . Put/Call ratio – 0.585. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 144.51. Vix – 20.15.
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 XLP, XLV, XLF, SPY, XLB, SPX, /ES, XLU, XLI, XLE, XLY and XLK.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLP, XLF, XLV, SPY, /ES, SPX, XLB, XLI, XLE, XLU, XLK and XLY.
21 May 2021 – Weekly Review – As the market trend downwards
Summary (Weekly Chart)
$DJT – UpTrend with upward momentum. /YM – UpTrend with upward momentum. /RTY – Sideward Trend with sideward momentum and in a Squeeze. /NQ – UpTrend with sideward momentum and in a Squeeze. /ES – UpTrend with upward momentum.
The indices are still in an UpTrend on the weekly chart.
/CL – UpTrend with upward momentum. /GC – UpTrend with upward momentum and in a preliminary Squeeze. /ZB – DownTrend with downward momentum. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with upward momentum.
Both HYG and DBC are in an UpTrend and as such the upTrend is intact.
$DXY – DownTrend with downward momentum and in a preliminary Squeeze. EUR/USD – UpTrend with upward momentum and in a preliminary Squeeze. USD/JPY – UpTrend with upward momentum.
US Dollar continue its downtrend.
Summary (Daily Chart)
$DJT – DownTrend with downward momentum. /YM – UpTrend with upward momentum and in a Squeeze. /RTY – DownTrend with upward momentum and in a preliminary Squeeze. /NQ – Sideward Trend with upward momentum. /ES – UpTrend with upward momentum and in a Squeeze.
/CL – Sideward Trend with downward momentum and in a Squeeze. /GC – UpTrend with upward momentum. /ZB – Sideward Trend with upward momentum and in a Squeeze. HYG – UpTrend with upward momentum and in a preliminary Squeeze. DBC – DownTrend with downward momentum.
Commodities are now in a downTrend. High Yield bond (HYG) which measures market appetite for risk is trending sidewards. It is a risk-off market.
$DXY – DownTrend with downward momentum. EUR/USD – UpTrend with upward momentum and in a preliminary Squeeze. USD/JPY – DownTrend with downward momentum.
Market Internals (Daily Chart)
Market Sentiment – Extremely Bullish . Put/Call ratio – 0.585. Market Breadth – sloping downward showing more losers than gainers. Volume Acc/Dis – sloping downward and showing distribution. Skew – 144.51. Vix – 20.15.
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 XLP, XLV, XLF, SPY, XLB, SPX, /ES, XLU, XLI, XLE, XLY and XLK.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLP, XLF, XLV, SPY, /ES, SPX, XLB, XLI, XLE, XLU, XLK and XLY.
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