7 March 2023 – A pumpkin curve downward

Indices/Indices as of close of 7 March 2023 — Chart 1: Overall market analysis of the indices, oil, gold, bond and US dollar index

Summary (The Week Ahead)
$DJT – NoTrend and Neutral momentum.
/ES – DownTrend and Upward momentum.
/NQ – NoTrend and Upward momentum.
/RTY – No Trend and Downward momentum.
/YM – DownTrend and Upward momentum.

/CL – DownTrend and Upward momentum.
/GC – DownTrend and Neutral momentum.
/ZB – DownTrend and Upward momentum.
DBC – DownTrend and Upward momentum.
HYG – DownTrend and Upward momentum.

$DXY – UpTrend and Upward momentum.
EUR/USD – DownTrend and Neutral momentum.
USD/JPY – UpTrend and Upward momentum.

Daily Tight Squeezes (The Week Ahead)
–

Daily Squeezes (The Week Ahead)
/CL, /RTY, DBC

Preliminary Squeezes (The Week Ahead)
/BTC, /GC, /NQ, /ZB, EUR/USD, HYG

Indices/Market Internals as of close of 7 March 2023 — Chart 2 – Market Internals

Market Internals
Market Sentiment – Extremely Bearish
Put/Call ratio – 0.978
Market Breadth – below threshold showing more losers than gainers.
Volume Acc/Dis – below threshold showing distribution.
Vix – 19.59

QTiTTs signal is Neutral.

Relative Strength – Sectors

Indices/S&P 500 Sectors as close of 7 March 2023 — Chart 3 – 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 XLK, XLI, XLC, XLY, XLB, XLF, XLE, XLU, XLP and XLV.

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

In chart 4 above shows the 1 minute chart of the /RTY.

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.