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.