SMO Exclusive: Current Market Status Report 2023-11-17 (+45% Strength Score, Zone 2)
More “beneath the market surface” objective analysis – no new shorts as of 11/17/23’s negative strength score. This Market/Sector/Industry perspective follows up today's Industry/Sub-Industry analysis.
The 3 major indexes had a stellar week ending 11/3/23 followed by another up week 11/10/23. My calculations reflected underlying weakness/stalling for the week ending 11/10/23 - then a massive rally turned calculations positive on 11/14/27.
Current market status
🔹 Strength Score: +45% (on a scale of -100% to 100%)
🔹 Zone: 2, Strengthening - Mid
🔹 Action(s): No new Shorts
There is never any telling how long the prevailing positive or negative strength score will last.
All it does is tell you what is. Never a why, or for how long.
That’s all it can do. But this is enough to
🔹 crush market confusion and emotion,
🔹 enforce discipline, and
🔹 prevent unforced errors.
From here, the rest is up to you.