Daily Chart Report 📈 Tuesday, October 31, 2023

the S&P 500 has fallen for three straight months

that’s the longest monthly losing streak since March 2020

[May 2022 was a very slight gain] pic.twitter.com/DbVwykw8CM

— Katie Greifeld (@kgreifeld) October 31, 2023

The $SPX looks like it will close out its third consecutive month's close. This will be the first three-month drop since the pandemic (through March 2020).

We haven't had a 4 straight month drop from the benchmark index in 12 years: pic.twitter.com/s6C4WGgs3O

— John Kicklighter (@JohnKicklighter) October 31, 2023

Stocks down in Aug, Sept, and Oct?

Pretty rare, but the good news is November has been higher all 5 times. December does fairly well also. pic.twitter.com/PgvpGc1x1X

— Ryan Detrick, CMT (@RyanDetrick) October 31, 2023

"Stuck in the middle with you..." 🎶

S&P 500 finds itself in between the AVWAP from the Oct '22 lows and its 200 day MA...$SPX $SPY pic.twitter.com/4f6uoiqeNT

— Ian McMillan, CMT (@the_chart_life) October 31, 2023

10 largest holdings have now contributed *134%* of S&P 500’s return this yr…

Huge outlier here.

via @Todd_Sohn pic.twitter.com/bYS2Rd00VR

— Nate Geraci (@NateGeraci) October 31, 2023

Last week, just 25% of $SPX stocks were >200-d. Since 2002, this has usually been 'near' the low (except 2008-09 and 2020) but never 'at' the low, which has sometimes followed several months later pic.twitter.com/csJ7baASJj

— Urban Carmel (@ukarlewitz) October 31, 2023

Energy is on track to finish as the worst-performing sector in October, but long-term breadth readings have not yet broken down. The percentage of Energy stocks trading above 50-day moving averages all the way through one-year moving averages far exceed any other sector. pic.twitter.com/cumzh6HBkA

— Rob Anderson (@_rob_anderson) October 31, 2023

Nuclear/Uranium stocks continue to show the best relative strength

YTD Performance: $CCJ +79%$UEC +58%$URNM +47%$NXE +39% pic.twitter.com/gUgdHG5MmO

— Brian Lund (@bclund) October 31, 2023

I would like to talk to a manager- I was promised $150/bbl just a few weeks ago.. Looks like #fibonacci woke up to fade the headlines once again in oil, next level on tap for a test- 79.40? #crude #2monthlow pic.twitter.com/6YO3dENUuF

— Chris Robinson (@cer_hedge) October 31, 2023

Crude oil futures vs. the 200-day moving average cloud...

I got bearish when we fell below in 2H 2022.
I got bullish when we broke above in July'23.
I'll get bearish when we break below it once again.

Pending breakdown here will destroy the re-inflation thesis.#Disinflation pic.twitter.com/nUGL1aofEr

— Caleb Franzen (@CalebFranzen) October 31, 2023

#Gold is putting the finishing touches on a BIG bullish month (+7.4%).

This marks the 3rd most bullish month since 2020 (behind Nov '22 +8.3% and Mar '23 +7.6%).

All-time highs loom < $100 away near $2075 as we flip the calendars to November. pic.twitter.com/ozOJkDY4bq

— Matt Weller CFA, CMT (@MWellerFX) October 31, 2023

Wow - massive volume on $TLT this month. Now down 6 months in a row (it was down 7 in a row from late '21 to through 1H22) pic.twitter.com/AqX6dwY1If

— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) October 31, 2023

My pumpkin just looked at a chart of the Russell 2000. $IWM pic.twitter.com/NBfane9Jr0

— Joseph Fahmy (@jfahmy) October 31, 2023