28 May 2021 – Weekly Review – The bullishness continues
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 – UpTrend with upward momentum and in a Squeeze. /YM – UpTrend with upward momentum and in a Squeeze. /RTY – UpTrend with upward momentum and in a preliminary Squeeze. /NQ – UpTrend with upward momentum and in a preliminary Squeeze. /ES – UpTrend with upward momentum and in a Squeeze.
/CL – UpTrend with upward momentum and in a Squeeze. /GC – UpTrend with upward momentum. /ZB – DownTrend with downward momentum and in a Squeeze. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with upward momentum and in a preliminary Squeeze.
Commodities are in a upTrend. High Yield bond (HYG) is also in an upTrend. It is a risk-on market.
$DXY – DownTrend with upward momentum. EUR/USD – UpTrend with downward momentum. USD/JPY – UpTrend with upward momentum.
Market Internals (Daily Chart) Market Sentiment – Extremely Bullish . Put/Call ratio – 0.486. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 155.31. Vix – 16.76.
Market Internals are showing strength and the market is overstretched.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLF, SPY, SPX, /ES, XLI, XLP, XLB, XLV, XLE, XLK, XLY and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLF, SPY, SPX, /ES, XLI, XLB, XLP, XLV, XLE, XLK, XLY and XLU.
28 May 2021 – Weekly Review – The bullishness continues
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 – UpTrend with upward momentum and in a Squeeze. /YM – UpTrend with upward momentum and in a Squeeze. /RTY – UpTrend with upward momentum and in a preliminary Squeeze. /NQ – UpTrend with upward momentum and in a preliminary Squeeze. /ES – UpTrend with upward momentum and in a Squeeze.
/CL – UpTrend with upward momentum and in a Squeeze. /GC – UpTrend with upward momentum. /ZB – DownTrend with downward momentum and in a Squeeze. HYG – UpTrend with upward momentum and in a Squeeze. DBC – UpTrend with upward momentum and in a preliminary Squeeze.
Commodities are in a upTrend. High Yield bond (HYG) is also in an upTrend. It is a risk-on market.
$DXY – DownTrend with upward momentum. EUR/USD – UpTrend with downward momentum. USD/JPY – UpTrend with upward momentum.
Market Internals (Daily Chart)
Market Sentiment – Extremely Bullish . Put/Call ratio – 0.486. Market Breadth – sloping upward showing more gainers than losers. Volume Acc/Dis – sloping upward and showing accumulation. Skew – 155.31. Vix – 16.76.
Market Internals are showing strength and the market is overstretched.
Relative Strength – Sectors On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLF, SPY, SPX, /ES, XLI, XLP, XLB, XLV, XLE, XLK, XLY and XLU.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLF, SPY, SPX, /ES, XLI, XLB, XLP, XLV, XLE, XLK, XLY and XLU.
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