There is little to conclude other than the markets weakened this week. Both the major indexes and sectors made significant shifts from offensive positions back to defense.
Index BPI: Four of the seven major indexes are now under control of the defense. Of particular note is the NYSE as it includes many small- and mid-cap stocks. The DJIA held even with no changes.
Sector BPI: Seven of the ten sectors show O’s in the right-hand column, a shift of three more this past week. I did not expect to see this type of weakness in November, but we take what comes. The latest ETF rankings still recommend 50% for each SHY and PCY. This is definitely a defensive position and one born out by the Point and Figure (PnF) graphs and subsequent data found in these BPI tables.