16 December 2021 – Volatility! Indices down

Indices/Indices as of close of 16 December 2021

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

The indices are giving mixed signals. Caution is needed.

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

Daily Squeezes (The Week Ahead)
/$DXY, /ES, /GC, /NQ, /ZB, /ZN, EUR/USD, NDX

Daily Preliminary Squeezes (The Week Ahead)
$DJT, /RTY, SPX

Indices/Market Internals as of close of 16 December 2021 — Market Internals

Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.688. Market Breadth – sloping downwards showing more losers than gainers. Volume Acc/Dis – sloping downwards showing distribution. Vix – 20.57.

Market internals has a bearish bias.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 16 December 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 XLP, XLV, XLU, XLB, XLK, XLI, XLF, XLY and XLE.

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

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