I am happy to present the first installment of "The Top Ten Monthly Candles." Every month I will choose ten charts with significant monthly candles.
Selecting only ten charts was much harder than I anticipated, and I knew it was going to be hard, but I did my best to pick the charts and candles that best represent the messages the markets are sending.
Here we go...
#10 General Electric
GE made the list because of its strong candle off major support, and it's telling us that, "the tide is rising."
#9 European Financials Index
Yes, European financials made the list by representing all the downtrodden European indexes as well as financials. Indexes around the world and throughout Europe had an amazing month. Even the worst of the worst performing well sends a clear message.
#8 Copper
Copper has huge implications for emerging markets and economic growth. The manner in which Copper ripped through overhead supply leaves nothing to the imagination.
#7 XLB
It's been all about technology, communications and consumer discretionary, but a lot of the other sectors are beginning to show strength. XLB clearing its 2018 highs.
#6 SOX
Can't stop, won't stop! Semiconductors show no signs of letting up.
#5 IWC
Micro-caps reached all-time monthly closing highs with a strong candle. This candlestick speaks volumes for demand in equities.
#4 Dow Jones Transports
Dow Theory 101: transports confirming industrials. Last time the DJIA was near current levels, transports were not confirming. They are now.
#3 DJIA
When one of the most watched stock indexes has a month like November, it sends its message around the world. All-time monthly closing highs for the Dow.
#2 VLG
The Value Line Geometric Index tracks the broad market median stock price. The fact that it's back above an area of resistance that held prices down for almost thirty years is a big deal.
#1 Nikkei 225
Half of this list could have been stock indexes from Asia, but I wanted to choose one chart to represent the region. It was hard not to include the Kospi 200 or Taiwan Stock Exchange, but the month of November belongs to the Nikkei.
That's the Top 10 for the month of November, 2020.
Thanks for reading! If you have any questions or comments, please feel free to contact me at ianculley@culleycharts.com
DISCLAIMER: All information and opinions expressed by Culley Charts are strictly that, and should not be construed as investment advice. Market participation comes with inherent risk, and the responsibility of managing this risk lies solely with each individual investor.