12 October 2021 – Bears are on top!

Indices/Indices as of close of 12 October 2021

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

The indices is shifting from an upTrend to a sideward Trend and possibly downwards.

/CL – UpTrend and accelerating upward momentum. /GC – DownTrend and decelerating downward momentum. /ZB – DownTrend and decelerating 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 indicates a risk-off market.

Indices/Market Internals as of close of 12 October 2021 — Market Internals

Market Internals
Market Sentiment – Bullish. Put/Call ratio – 0.672. Market Breadth – sloping upwards showing more gainers than losers. Volume Acc/Dis – sloping upwards showing accumulation. Skew – 134.1. Vix – 19.85.

Market internals are showing bullish bias.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 12 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, XLB, XLP, XLI, XLK, XLU and XLV.

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

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