30 November 2021 – The pullback continues

Indices/Indices as of close of 30 November 2021

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

The indices are signaling bearishness.

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

Indices/Market Internals as of close of 30 November 2021 — Market Internals

Market Internals
Market Sentiment – Bullish. Put/Call ratio – 0.644. Market Breadth – sloping downwards showing more losers than gainers. Volume Acc/Dis – sloping downwards showing distribution. Skew – 150.55. Vix – 27.19. HYG – Sell signal.

Market internals are showing bearish bias.

Relative Strength – Sectors.

Indices/S&P 500 Sectors as close of 30 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 XLK, XLY, XLE, XLB, XLV, XLU, XLF, XLP and XLI.

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

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