2021-11-05 11:03:54

All major equity averages ended October with positive weekly charts that favored stock market strength this week. The major averages are setting new all-time intraday highs this week.

Here’s market data through November 4.

The **Dow Jones Industrial Average (DJI) **broke out above its 50-day simple moving average on October 15 and set its all-time intraday high of 36,178.51 on November 3. That’s a gain of 18.1% so far in 2021. The weekly chart is positive but overbought with DJI above its five-week modified moving average at 35,367. Its quarterly, semiannual and annual value levels are 33,045, 33,989 and 33,425, respectively, with its monthly risky level at 38,327.

The **S&P 500 Index (SPX)** broke out above its 50-day simple moving average on October 15 and set its all-time intraday high of 4,683.00 on November 4. That’s a gain of 24.1% so far in 2021. The weekly chart is positive but overbought with SPX above its five-week modified moving average at 4,520.84. Its quarterly, semiannual and annual value levels are 4,338.86, 4,125.43 and 3,932.35, respectively, with its monthly risky level at 4,875.94.

The **Nasdaq Composite (IXIC)** broke out above its 50-day simple moving average on Oct. 18 and set its all-time intraday high of 15,961.25 on November 4. That’s a gain of 22.7% so far in 2021. The weekly chart is positive with IXIC above its five-week modified moving average at 15,192.82. Its semiannual and annual value levels are 13,915 and 12,000 with monthly and quarterly pivots at 15,883 and 15,875.

The **Dow Jones Transport Average (DJT) **broke out above its 50-day and its 200-day simple moving averages on Oct. 8 and set its all-time intraday high of 18,246.51 on November 2. That’s a gain of 33.8% so far in 2021. The weekly chart is positive with DJT above its five-week modified moving average at 15,414.4. Its quarterly, semiannual and annual value levels are 13,871, 13,229 and 14,424, respectively, with its monthly pivot at 16,790.

The **Russell 2000 Index (RUT)** broke out above its 50-day and 200-day simple moving averages at 2,262.64 and 2,246.50 on October 14 and set its all-time intraday high of 2.423.83 on November 4. That’s a gain of 21.7% so far in 2021. The weekly chart is positive with RUT above its five-week modified moving average at 2,291.24. Its quarterly, semiannual and annual value levels are 2,184.47, 1,971.18 and 2,120.34, respectively, with its monthly pivot at 2,324.56.

The **Philadelphia Semiconductor Index (SOX)** broke out above its 50-day simple moving average at 3,379.31 on October 19 and set its all-time intraday high of 3,728.08 on November 4. That’s a gain of 32.9% so far in 2021. The weekly chart is positive with SOX above its five-week modified moving average at 3,432.89. Its semiannual and annual value levels are 3,060.65 and 2,424.98, respectively, with its monthly and quarterly pivots at 3,532.53 and 3,637.41.