All five major U.S. equity averages are in bull market territory and have positive weekly charts. Dow Transports has been the first to become overbought.
New all-time intraday highs were set, except for transports, which set a multiyear high of 9,003.67 on Nov. 23. Its all-time high is 9,310.33 and was set two years ago, on Nov. 28, 2014.
On Nov. 23, the Dow Jones Industrial Average and the Russell 2000 set all-time intraday highs of 19,083.76 and 1,342.35, respectively. On Nov. 22, the S&P 500 and Nasdaq set all-time intraday highs of 2,204.80 and 5,392.26, respectively.
In Japan, the Nikkei 225 is in bull market territory and set a second-half 2016 high of 18,482.94 on Nov. 25. You need to look back to the end of 1989 to find the Nikkei 225 all-time intraday high of 38,957.44, set in December 1989. The Nikkei 225 is also in correction territory and is 12.3% below its multiyear intraday high of 20,952.71, set on June 24, 2015.
In China, the Shanghai Composite is in bull market territory and set a second-half high of 3,262.44 on Nov. 25. This is a weak recovery, considering that this average is below its all-time intraday high of 6,124.04, set in October 2007. The Shanghai Composite also remains mired in bear market territory, 37% below its multiyear intraday high of 5,178.19, set on June 12, 2015.
In India, the Nifty 50 has a negative weekly chart. India's benchmark is now in correction territory, 11.5% below its all-time intraday high of 9,119.20, set on March 4, 2015. But it has a solid 18.8% gain from its Feb. 29 low. This average's 2016 high is in the rear-view mirror at 8,968.70, set on Sept. 7.
In Germany, the DAX is in bull market territory, 22.9% above its Feb. 11 low of 8,699.29. The index is also in correction territory, 13.7% below its April 10, 2015, high of 12,390.75, and its 2016 second-half high was set at 10,827.72 on Oct. 25.
Here's this week's scorecard for the nine major global equity averages.