Welcome to your weekly markets review for November 20th, 2021.
Below you'll find the GoNoGo Launch Conditions Chart Pack which provides a snapshot of the major market trends across all asset classes. The importance of routine is a popular refrain amongst institutional money managers and this chart pack is your tool for an overall technical view of market conditions. Take a step back and equip yourself with a broad market perspective before developing next week's trading plan.
Equities ($SPY) remain in a “Go” trend and conditions strengthened to bright blue this week as the market reached new record highs.
However, below the surface of the index we can see evidence of rotation and changing leadership.
- The GoNoGo RelMap below shows that only 3 sectors’ trend conditions outperformed the index this week
- Materials ($XLB), discretionary ($XLY), and technology ($XLK), remained in “Go” trends
- Energy ($XLE) and Financials ($XLF) showed further downside pressures this week and are now both in “NoGo” relative trends against the index
To access this week's complete chart pack click here or the image below:
Better Charts. Better Decisions.