6 October 2021 – ADP outperforms, so do indices

Indices/Indices as of close of 6 October 2021

Summary (The Week Ahead)
$DJT – UpTrend and decelerating downward momentum. /YM – UpTrend and decelerating downward momentum. /RTY – Sideward Trend and sideward momentum. /NQ – DownTrend and decelerating downward momentum. /ES – DownTrend with decelerating downward momentum.

The ADP outperforms forecast and indices recovered and shot upwards.

/CL – UpTrend and accelerating upward momentum. /GC – Sideward Trend 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 trending in opposite directions. This indicate a risk-off market.

Indices/Market Internals as of close of 6 October 2021 — Market Internals

Market Internals
Market Sentiment – Bullish. Put/Call ratio – 0.626. Market Breadth – sloping downwards showing more losers than gainers. Volume Acc/Dis – sloping downwards showing distribution. Skew – 131.51. Vix – 21.0.

Market internals are showing bullish bias.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 6 October 2021 — 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, XLU, XLI, XLK, XLP, XLB and XLV.

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

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