Subject: Market Indicators / GTAA update 11/29/23
Summary - obviously there was a fast bullish recovery bounce in the first week to two of November after... whatever the last week of October was. As a result, the US markets have swung to bullish with positive to mildly positive trends. The Naz NH/NL remains the only BC in bearish state, but barely - after bottoming out at -460 10/29, it’s risen all the way back to -25.

In the last 2 weeks, the asset classes of small caps, small cap growth, RE, Foreign RE, Total Bond and 10Y US Govts have flipped to bullish (on price) - for the first time in many months. Punditry says this is a bet that the Fed is done raising rates.

Note: small caps are lagging; they started a bounce in November but have only advanced about 1/2 as much as the large cap/cap weighted indexes.

Trend/”timing” signals
* BearCatchers: 1 of 3 bearish - Naz NH/NL
* Others: only Naz bullish % is still bearish, an indicator of a "thinner" market (megacap focused).

My overall dashboard went from -9 bearish to 5 bullish/optimistic in 3 short weeks.

Asset Class	Signal	Top6	Rank
US LC	        IN	X	1
US LC Momentum	IN	X	2
US SC	        CHG		11
US SC Mom./Grth	CHG		10
For. Developed	IN	X	4
For. Dev. SC	CHG	X	5
Emerging	IN	X	3
Real Estate	IN		8
Foreign Real	IN		9
Total Bond	IN		11
10Y US Gov	IN		14
Global HighYld	IN	X	6
Preferred	IN	X	6
Cash/ST			        13

Last month's post: https://www.shrewdm.com/MB?pid...