3 June 2021 – Volatility increases

Indices/Indices as of close of 3 Jun 2021

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

The indices are under pressure and looks to be range trading or in the process of turning.

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

Junk bond (HYG) is range trading and DBC have turned upwards.

Indices/Market Internals as of close of 3 June 2021

Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.483. Market Breadth – sloping upwards showing more gainers than losers. Volume Acc/Dis – sloping upwards showing accumulation. Skew – 145.21. Vix – 18.04.

Market internals are showing bullish bias.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 3 June 2021

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

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

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