9 August 2021 – A sideway market

Indices/Indices as of close of 9 August 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 Squeeze. /NQ – UpTrend and upward momentum and in a preliminary Squeeze. /ES – UpTrend with upward momentum and in a preliminary Squeeze.

The indices remained volatile.

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

Junk bond (HYG) and DBC are both turning downwards. The market is turning downwards.

Indices/Market Internals as of close of 9 August 2021

Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.6. Market Breadth – sloping upwards showing more gainers than losers. Volume Acc/Dis – sloping upwards showing accumulation. Skew – 148.27. Vix – 16.72.

Market internals are showing bullish bias and the Skew is extremely high.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 9 August 2021

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

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

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