Party like it's 1995! The S&P 500 notched its 66th ATH of 2021, w/the benchmark gauge poised for the 2nd-biggest number of annual records ever - only behind 1995. (BBG) pic.twitter.com/AGWwfCLtV4— Holger Zschaepitz (@Schuldensuehner) November 18, 2021
66th all-time high for S&P 500 this year, driven today by Tech & Cons Discr; both sectors essentially did all work (REITs & Health Care eked out gains)…cyclicals’ weakness hurt small caps & value indices at expense of R1G, which still trails R2V YTD pic.twitter.com/BNBw7GurVD— Liz Ann Sonders (@LizAnnSonders) November 18, 2021
The percentage of workers in the US that are quitting their jobs has never been higher. pic.twitter.com/bxpywwdRz4— Charlie Bilello (@charliebilello) November 18, 2021
Nasdaq is deceptively strong as Big Tech powers higher. Under the surface, significantly more stocks made new lows vs new highs. Rare at all-time highs and will explain why many traders feel frustrated. Net lows in bottom panel. Green background is a healthy market. $NVDA $CF pic.twitter.com/VfAmQcVpES— Matt Caruso, CFA, CMT (@Trader_mcaruso) November 18, 2021
Retouched the Black MA: (1) as expected, SPX did drop briefly & touched the Black MA line, which sat at 4670. (2) the sideway move continues, with various potential patterns--all in all, the purpose here is to kill time, not to expand price range. (3) expect it to come down again
Nov. 8 "Extended Sideway Move": (1) on Nov. 8, after DTK turned orange, I tweeted "this top would be orange W-3; after a rather extended sideway move, SPX would complete the SIGNIFICANT top later." (2) see the chart below and it seems the extended move has not finished yet.
Supply chain problems actually refer to two very different issues:— Jason Furman (@jasonfurman) November 18, 2021
SUPPLY CHAIN DISRUPTION: Electricity crisis shuts a factor in China, they can't make electronics.
SUPPLY CHAIN NON-RESPONSIVENESS: People want to buy much more stuff, can only make more stuff). pic.twitter.com/hKnbJ7rEMo
UBER bullish chart setup for US Dollar...— Patrick Karim (@badcharts1) November 18, 2021
Just the end of the day. I'm sure it's nothing. pic.twitter.com/hcYmG9enTk— Jim Carroll (@vixologist) November 18, 2021