Market internals are showing bearish bias and the Skew is high.
Relative Strength – Sectors.
Ranking the Strength of the S&P 500 ETFs over 12 month period
On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLE, XLF, XLY, XLK, XLV, XLB, XLU, XLI and XLP.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLF, XLE, XLY, XLK, XLV, XLI, XLB, XLP and XLU.
To Your Wealth! Would you like to learn to trade Stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948. If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
30 September 2021 – It was down and down
Summary (The Week Ahead)
$DJT – DownTrend and accelerating downward momentum. /YM – DownTrend and accelerating downward momentum. /RTY – DownTrend and accelerating downward momentum. /NQ – DownTrend and accelerating downward momentum. /ES – DownTrend with accelerating downward momentum.
The indices sold off on fears off another US government shutdown but did not recover when that was averted.
/CL – UpTrend and accelerating upward momentum. /GC – DownTrend and decelerating downward momentum. /ZB – DownTrend and accelerating downward momentum. HYG – DownTrend with accelerating downward momentum. DBC – UpTrend with accelerating upward momentum.
Junk bond (HYG) and DBC are giving mixed signals. This indicate a risk-off market.
Market Internals
Market Sentiment – Bullish. Put/Call ratio – 0.675. Market Breadth – sloping downwards showing more losers than gainers. Volume Acc/Dis – sloping downwards showing distribution. Skew – 135.55. Vix – 23.14.
Market internals are showing bearish bias and the Skew is high.
Relative Strength – Sectors.
On a 3-monthly lookback, the relative strength order of the S&P ETF 500 sectors are XLE, XLF, XLY, XLK, XLV, XLB, XLU, XLI and XLP.
On a 12-monthly lookback, the relative strength order of the S&P 500 ETFs are XLF, XLE, XLY, XLK, XLV, XLI, XLB, XLP and XLU.
To Your Wealth!
Would you like to learn to trade Stocks, Options or Futures? Drop us an email at jefftohch@gmail.com or call +6010 4343 948.
If you have been an unsuccessful trader and need personal tutorship, we can provide you with personal coaching to take you to be a profitable trader.
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