Another positive week for stocks as the S&P 500 registered a new all-time high on Thursday before Friday’s slight pullback. Large, Mid, Small, and Micro Caps are all within 20 basis points of an all-time high by end of last week. No major changes in the models, Risk Appetite didn’t change and Maestro had just a one-point shift. The VIX is likely the largest concern for me due to the large spread in 1-and 3-month vol but the VRT remains above a signal level. Not a lot of data gets released this week except for the FOMC minutes, if you’re into reading that kind of thing. This week’s Spotlight Charts look at the improved breadth condition for equities as well as an important breakout that’s yet to occur and the important implications if it does or doesn’t happen soon.
On an unrelated note, I have joined the Magee-Women’s Research Institute team for the Monumental Marathon in November and would love to raise as much money as possible to support this organization that doesn’t important work in research for women’s healthcare. Such as cancer research, infertility, newborn health, substance abuse, and mental health. If you would like to donate, please visit this page: Monumental Marathon Fundraising.
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