18 October 2021 – Earnings season and volatility

Indices/Indices as of close of 18 October 2021

Summary (The Week Ahead)
$DJT – UpTrend and accelerating upward momentum. /YM – UpTrend and accelerating upward momentum. /RTY – UpTrend and an accelerating upward momentum. /NQ – UpTrend and accelerating upward momentum. /ES – UpTrend with accelerating upward momentum.

The indices have shifted from a DownTrend to an upTrend.

/CL – UpTrend and decelerating upward momentum. /GC –DownTrend and decelerating upward momentum. /ZB – Sideward Trend and decelerating downward momentum. HYG – UpTrend with decelerating downward momentum. DBC – UpTrend with accelerating upward momentum.

Junk bond (HYG) and DBC are trending in same directions. This indicates a risk-off market.

Indices/Market Internals as of close of 18 October 2021 — Market Internals

Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.598. Market Breadth – sloping upwards showing more gainers than losers. Volume Acc/Dis – sloping upwards showing accumulation. Skew – 143.77. Vix – 16.309.

Market internals are showing bullishness.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 18 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 XLY, XLF, XLE, XLK, XLB, XLI, XLP, XLU and XLV.

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

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