SPY Gains in Light Trading Thanksgiving Week...VIX Drifts Lower...Oil Falls on Friday, Energy Sector Lower...

Six of nine sectors moved higher on Friday…XLP, XLF and XLK were the strongest sectors while XLE was the weakest sector.  Oil fell -1.27/barrel on Friday.

Breadth weakened slightly as advancers led decliners 1.59 to 1 on the NYSE and 1.647 to on the NASDAQ.

Friday – weakened slightly, advancers led

Thursday – Thanksgiving Holiday

Wednesday – strengthened, advancers led

Tuesday – strengthened, advancers led

Monday – weakened, advancers led

SPY up .24 at 209.56 on 37.3 million shares

VIX down .07 at 15.12…

TNX down .07 at 22.25…

TLT down .12 at 120.97…on 2.5 million shares

XLF up .06 at 24.58…on 18.8 million shares

AAPL down .22 at 117.81 on 13.0 million shares

FB up .04 at 105.45 on 5.9 million shares

Technical Commentary:

IWM +0.38%, QQQ +0.14%, SPY +0.11%, DIA -0.02%.

SPY gained 25 cents in the Thanksgiving Holiday week.  SPY volume fell 51% to 237.3 million shares the lightest weekly volume in 2015.

Technical Observations:  Based on this week’s light holiday week price action it appears that the broad markets are pausing before making a move towards a new short-term high.   

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is pointed up at 77. 

Short-term Chart Targets:

SPY =...210.12…

QQQ = 115.47…

IWM = 117.36, 118.34…

                   

Support Levels

SPY = 207.41

QQQ = 111.64

IWM = 114.52

__________________

Setups

Horizontal Breakout: SPY, AMZN, ATVI, EBAY, GRMN, HSIC, LLTC, MSFT, NVDA, XLNX, AA, AIG, AMBA, JUNO, SCHW, SLCA, SPWR, STI,

Diagonal Breakout: AAPL, ADSK, CTXS, CSCO, FB, ORLY, TXN, YHOO, BABA, BAC, C, CCL, CTRP, ETFC, FAS, FSLR, LNKD, MS, PYPL, SONC, SUM, TPX, TSL, W, ZION

Bull Flag: QQQ, BIDU, GOOGL, INTC, INTU, PAYX, SBUX, CRM, GLW, KWEB, NTES, SINA, SOHU, V, VRSN, YELP, YNDX,

Potential Bullish Divergence: DAL

Moves

New Highs: JBL, MNST, CIEN, NKE, PANW

H Breakout: IWM, QRVO

MACD Divergence Bounce: EXPE

Gap Up: GLD

Bear Flag: UA

______________________

67 of 100 NDX stocks closed higher and one was unchanged on Friday.

63 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 3

ADI, CHTR, EXPD

Moving Below 30 DMA = 0

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up