Source: Bloomberg

...closing at its weakest vs its fiat peers since April 2018 (and unchanged since Jan 2015)...

(Click on image to enlarge)

Source: Bloomberg

Cryptos started the week strongly with Bitcoin closing at a record high but ended weak with ETH flat and BTC -10% (and yes Ripple was up 140% on the week on Tuesday!)...

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Source: Bloomberg

Bitcoin fell from $19500 to $16500...

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Source: Bloomberg

On the week, copper and crude surged as PMs were purged...

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Source: Bloomberg

Gold and Silver were monkey-hammered this morning (coinciding with a forceful flash-crash in VIX)...

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Gold is heading for its 3rd straight weekly decline, its 4th straight monthly drop, and worst month since Nov 2016, breaking (and closing) below its 200DMA...

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Source: Bloomberg

Finally, some historical context from Michael Markowski. Two stock market sentiment anomalies have increased the probability of a correction near term.

The two anomalies are:

• Thanksgiving Melt Up Anomaly. The average S&P 500 gain for 12 of the past 14 ten-day periods concluding November, was 3.5%. The only two exceptions, 2015 and 2018, were preceded by significant market corrections.
• Bullish Sentiment Anomaly. Currently, there is a high probability for the S&P 500 to decline by 12.7%. Such would be from its recent 2020 high and would conclude by December 20, 2020. Based on the previous behavior, there is a 66% probability the S&P 500 could continue its decline in 2021.

The Thanksgiving Melt Up Anomaly is now driving the S&P 500 to a higher November all-time high.

The Bullish Sentiment Anomaly is the cause of a violent correction for the S&P 500 to begin in early December 2020.

The chart below depicts the four 45% to 59% Bullish sentiment readings which occurred near the all-time highs for the S&P 500. (2018 to November 13, 2020)