1 November 2021 – New All-Time highs continue

Indices/Indices as of close of 1 November 2021

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

The indices are making new All-Time highs on a daily basis.

/CL – UpTrend and decelerating upward momentum. /GC –UpTrend and decelerating upward momentum. /ZB – UpTrend and accelerating upward momentum. HYG – UpTrend with accelerating upward momentum and in a preliminary Squeeze. DBC – UpTrend with decelerating upward momentum.

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

Indices/Market Internals as of close of 1 November 2021 — Market Internals

Market Internals
Market Sentiment – Extremely Bullish. Put/Call ratio – 0.564. Market Breadth – sloping upwards showing more gainers than losers. Volume Acc/Dis – sloping upwards showing accumulation. Skew – 145.81. Vix – 16.41.

Market internals are showing bullishness.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 1 November 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, XLK, XLE, XLI, XLF, XLB, XLV, XLP and XLU.

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

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