Dollar Index $DXY is now strongest it has been since just after the Tech Bubble pop in the early 2000s

Pundits on all sides are miss-reading the effect of fiscal & monetary policy. In a Worldwide Crisis the $, as the World Reserve Currency, is the place to be. Strength in Safety:

The forward 12-month P/E ratio for the S&P 500 is 18.6. This P/E ratio is equal to the 5-year average (18.6) but above the 10-year average (16.8)

S&P 500 Lofty PEs: Forward P/E 21.1, 5-yr Avg 18.5, 10-yr Avg 16.7

McClellan Summation Index for Staples Near Decade High, Bad for S&P 500

McClellan Summation Index for Staples is now well above +1000, one of its highest readings in a decade. It's not just Staples. Another core defensive sector, Utilities, is also seeing impressive internal momentum. And so is the other one, Health Care. Investors so hyper-focused on defensive stocks is a bad omen for the broader market (courtesy of sentiment trader):

Some Optimism In the November 2021 Labor Report

210,000 jobs were added in November, far short of the half million estimate, however the unemployment rate came down to 4.2%, better yet the labor force participation rate Rose to 61.8%, still far short of the 63.3% rate pre-pandemic: