Updated Models & Spotlight Chart 12/1/2024

Maestro Improves, Risk Appetite Dips, and A Failed Break in Fixed Income

During the holiday shortened week, the S&P 500 gained 1% with sector leadership coming from XLV, XLRE, and XLY. Last week’s chart spotlight looked at gold, I discussed I was watching if sentiment would rise back up to the 60% bullish level, by the end of the week it had with a DSI of 62% bullish and the metal also made new highs in yen, euro, and franc but has yet to do so in U.S. dollars. With the shortened week, the Index made a new high on Friday and saw almost 17% of stocks make a 52-week high on Weds. and then just 6.5% on Friday, with more than three-fourths of stocks trading on below average volume on a half day of trading. We can’t read too much into Friday’s price action. The Maestro Model improved this week, but the Risk Appetite model saw a small decline. The spotlight chart for this week looks at one I showed at the beginning of November, that focuses on fixed income markets.

Summary of Models

Index & Sector Performance Summary