26 January 2024 – Weekly update – Bulls on the run

Indices/Weekly Indices as of close of 26 January 2024 — Chart 1: Weekly chart of the S&P 500 sectors

Summary (Weekly Chart)
$DJT – UpTrend with Neutral momentum.
/ES – UpTrend with Upward momentum.
/NQ – UpTrend with Neutral momentum.
/RTY – UpTrend with Downward momentum.
/YM – UpTrend with Neutral momentum.

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

Summary (Daily Chart)
$DJT – UpTrend with Upward momentum.
/ES – UpTrend with Upward momentum.
/NQ – UpTrend with Upward momentum.
/RTY – UpTrend with Neutral momentum.
/YM – UpTrend with Neutral momentum.

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

$DXY – UpTrend with Upward momentum.
EUR/USD – NoTrend with Neutral momentum.
USD/JPY – UpTrend with Neutral momentum.

Tight Squeezes
–
Squeezes (Daily)
/CL, /GC, /YM, DBC, HYG
Preliminary Squeezes (Daily)
$DJT, /RTY, /ZN

Indices/Market Internals as of close of 26 January 2024 — Market Internals

Market Internals (Daily Chart)
Market Breadth – below the threshold line showing more losers than gainers.
Volume Acc/Dis – below the threshold line showing distribution.
Vix – 13.26

Relative Strength – Sectors

Indices/S&P 500 Sectors as close of 26 January 2024 — Chart 3 – Ranking the Strength of the S&P 500 ETFs over 12 month period

On a 3-monthly period, the relative strength order of the S&P ETF 500 sectors are XLF, SPX, XLC, XLI, XLP, XLK, XLV, XLE, XLB, XLY and XLU.

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

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.