15 June 2023 – Is the market due to pause?

Indices/Indices as of close of 15 June 2023 — Chart 1: Overall market analysis of the indices, oil, gold, bond and US dollar index

Summary (The Week Ahead)
$DJT – UpTrend and Upward momentum.
/ES – UpTrend and Upward momentum.
/NQ – UpTrend and Upward momentum.
/RTY – UpTrend and Upward momentum.
/YM – UpTrend and Upward momentum.

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

$DXY – NoTrend and Downward momentum.
EUR/USD – UpTrend and Upward momentum.
USD/JPY – UpTrend and Downward momentum.

Daily Tight Squeezes (The Week Ahead)
/GC

Daily Squeezes (The Week Ahead)
/BTC, /CL, /SI, /ZB, /ZN, DBC, USD/JPY

Preliminary Squeezes (The Week Ahead)
EUR/USD

Indices/Market Internals as of close of 15 June 2023 — Chart 2 – Market Internals

Market Internals
Market Breadth – above threshold showing more gainers than losers.
Volume Acc/Dis – above threshold showing accumulation.
Vix – 14.5
QTiTTs signal is Upward.

Relative Strength – Sectors

Indices/S&P 500 Sectors as close of 15 June 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 XLI, XLY, XLC, XLK, XLF, XLB, XLV, XLU, XLP and XLE.

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

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

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