From the desk of Steve Strazza @Sstrazza

Check out this week's Momentum Report, our weekly summation of all the major indexes at a Macro, International, Sector, and Industry Group level.

By analyzing the short-term data in these reports, we get a more tactical view of the current state of markets. This information then helps us put near-term developments into the big picture context and provides insights regarding the structural trends at play.

Let's jump right into it with some of the major takeaways from this week's report:

* ASC Plus Members can access the Momentum Report by clicking the link at the bottom of this post.

Macro Universe:

From the desk of Willie Delwiche.

It’s no secret that we’ve been looking for evidence of improving breadth that would support last month’s breakouts in the small-cap and mid-cap indexes and provide fuel for a rally into the first quarter of next year. Instead we are finding evidence of the opposite - that rally participation is struggling to robustly expand. That’s the message when we look beneath the surface of the NASDAQ. The NASDAQ composite closed at a new high on the same day that the new low list rose to its highest level since March. March 2020. Another way to look at it (shown on the chart below) is that never in my career have I witnessed more NASDAQ stocks making new 52-week lows on the same day that the NASDAQ Composite made a new 52-week high. I don’t know if it will be the case this time, but when the market is heading for trouble,  new low lists crescendo in size. This is not unlike tremors before an earthquake.

This is the video recording of the November 18th Weekly Town Hall w/ Willie Delwiche

11/18/21 2:30 PM ET

From the desk of Willie Delwiche.

Last week, I wrote about how stillness can be the riskiest decision. 

This week, I want to discuss how periods of stillness can be part of the best approach. 

This idea brings to mind my favorite bird: the Great Blue Heron. If I have a spirit animal, this would be it.

From the desk of Willie Delwiche.

From the desk of Willie Delwiche.

Key Takeaways:

• Recent leaders have become near-term laggards, with Energy and Financials dropping to the bottom of the shorter-term relative strength rankings. Energy remains strong overall across the rankings and our industry group heat map. The cooling in Financials could be more significant.
• Materials is gaining strength from a sector ranking perspective and is seeing improving trends in our industry group work. We are also seeing pockets of strength within Industrials (Capital Goods and Transportation) and Tech (Semiconductors).

From the desk of Steve Strazza @Sstrazza

Check out this week's Momentum Report, our weekly summation of all the major indexes at a Macro, International, Sector, and Industry Group level.

By analyzing the short-term data in these reports, we get a more tactical view of the current state of markets. This information then helps us put near-term developments into the big picture context and provides insights regarding the structural trends at play.

Let's jump right into it with some of the major takeaways from this week's report:

* ASC Plus Members can access the Momentum Report by clicking the link at the bottom of this post.

From the desk of Steve Strazza @Sstrazza

Our Top 10 Charts Report was just published.

In this weekly note, we highlight 10 of the most important charts or themes we're currently seeing in asset classes around the world.

The Bond Market Has the Answers

From the desk of Willie Delwiche.

This is the video recording of the November 11th Weekly Town Hall w/ Willie Delwiche

11/11/21 3PM ET

From the desk of Willie Delwiche.

After my daughter’s flight landed in Minneapolis, she had to hurry through the terminal to catch a bus for the ride that would complete the final leg of her trip back to college. She did a great job of navigating uncertainties and asking for directions. She went where she was told and saw people, but no bus. "Just wait here," she was told, "the bus shows up, you get on, and it leaves right away."

A couple of buses came, some people got on, the buses left. Meanwhile, her ride was still a no-show. 

But people who appeared to be in-the-know said she was in the right spot. 

So she waited.