| Major US indices |
| This week, all three major US indices were negative. The monthly Lane's Stochastic is strongly overbought and the price is below the 20 & 50 Day Moving Average.The Dow Jones Industrial Average index (^DJI) lost 319.26 points, or 0.91%, and closed at 34580.08. ^DJI closed negative for the fourth consecutive week. The volume was 45% above average. The ^DJI price is near the 200 Day Moving Average. The 200 Day Moving Average often acts as a support or resistance level for trading. More Info.The S&P 500 (^GSPC) lost 56.19 points and closed at 4538.43. The S&P 500 weekly downtrend started on November 22, 2021 at 4,743.83 and reached 4,495.12 on December 03, 2021, making a 5.24% drop in eight business days. |
| ^GSPC: S&P 500 |
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| The ^GSPC price is near the 50 Day Moving Average. Lane's Stochastic is strongly overbought in a monthly and weekly time frame and oversold in a daily time frame. More Info.The NASDAQ Composite Index (^IXIC) lost 406.19 points and closed at 15085.47. The NASDAQ Composite Index quarterly uptrend started on March 23, 2020 at 6,631.42 and reached 16,212.23 on November 22, 2021, making a 144.48% increase in twenty months. The wave has formed the Rising Channel chart pattern. The ^IXIC price is 2.16% above the channel support level of 14759.24. The channel resistance is 7.5% above the current price. |
| ^IXIC: NASDAQ Composite Index |
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| The NASDAQ Composite Index weekly downtrend started on November 22, 2021 at 16,212.23 and reached 14,931.06 on December 03, 2021, making a 7.90% drop in eight business days. The ^IXIC price is 2.16% below the channel support level of 14759.24. The channel resistance is 7.5% above the current price. |
| ^IXIC: NASDAQ Composite Index |
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| The ^IXIC price is near the 100 Day Moving Average. Lane's Stochastic is strongly overbought in a monthly and weekly time frame and oversold in a daily time frame. More Info.
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| ETF's Select Sector SPDR Alert |
| This week, the Energy Select Sector SPDR (XLE) slid down 0.44 points and closed at 55.14. The Energy Select Sector SPDR weekly downtrend started on October 26, 2021 at 59.41 and reached 53.40 on December 02, 2021, making a 10.12% slide in five weeks. |
| XLE: Energy Select Sector SPDR |
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| The price has risen above the Parabolic SAR. This is considered a buy signal when the major trend is bullish. The XLE price is below the 20 and 50 Day Moving Averages. The Relative Strength Index, Williams' Percentage Range, and Lane's Stochastic are overbought in a monthly time frame. More Info.
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| This week, the Industrial Select Sector SPDR (XLI) fell 1.01 points, or 0.98%, and closed at 102.2. The Industrial Select Sector SPDR weekly downtrend started on November 16, 2021 at 107.64 and reached 99.33 on December 01, 2021, making a 7.72% loss in ten business days. |
| XLI: Industrial Select Sector SPDR |
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| The price has risen above the Parabolic SAR. The daily Lane's Stochastic main line (K%) crossed above the oversold signal line (D%). The XLI price is below the 20 and 50 Day Moving Averages and currently is near the 100 and 200 Day Moving Averages. Lane's Stochastic is overbought in a monthly time frame and oversold in a daily time frame. More Info.
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| Sector Rotation |
| The Utilities sector was the strongest sector last week (0.96%), followed by the Technology sector (-0.52%). The Consumer Discretionary sector was the worst performing sector of the week (-2.17%), followed by the Financial sector (-1.91%). |
| The Information Technology sector is the most overvalued sector, followed by Utilities, while Electronic Equipment & Instruments, Semiconductor Equipment, and Internet Services & Infrastructure are among the most overvalued industries. The Materials sector is the most oversold sector, followed by Financials, while Commodity Chemicals, Consumer Finance, and Gold are among the most oversold industries. |
