DC Lite #484

"A measure of US market breadth shows that we’ve just gone through the worst five-day period in two years"

Author

Daily Chartbook
November 20, 2025

Welcome back to DC Lite: Daily Chartbook’s free, entry-level newsletter containing 5 of the day’s best charts & insights.

1. Jobless claims. While initial jobless claims remain benign, continuing claims have risen to fresh cycle highs.

2. NFP. "The upturn in payrolls in September was mostly due to imprecise seasonal adjustment. The nonfarm seasonal was the most generous for September on record and very different to previous years."

3. USD positioning. "USD positioning still appears to be overwhelmingly bearish, which, usually, is not a favourable backdrop for doubling down on dollar shorts."

4. Breadth. "A measure of US market breadth shows that we’ve just gone through the worst five-day period in two years."

5. SPY reversal. "$SPY gapped up more than +1.5% today, then closed down more than -1.5%. Before today, this only happened in October 2008 and April 2025."

ICYMI

DC Lite #483

"Bullish corporate insider activity is typically a favorable sign"

www.dailychartbook.com/p/dc-lite-483

DC Lite #482

"IG tech spreads [are] wider than the broad index for the first time since 2012"

www.dailychartbook.com/p/dc-lite-482

DC Lite #481

"SPX finally closed below its 50 day moving average, after 138 days"

www.dailychartbook.com/p/dc-lite-481

DC Lite #480

The blended net profit margin for the index is 13.1%, the highest since at least 2009

www.dailychartbook.com/p/dc-lite-480

DC Lite #479

"The month with the most annual highs, and not by a small margin, is December"

www.dailychartbook.com/p/dc-lite-479

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