SPX, DJI, NDX Closed Lower on Above Average Volume as Price Action Reverses Monday's Bounce...Energy Led Sectors as 9 Sectors Moved Lower...TSLA, NVDA Led Selling...

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SPX -113.43, 6,737, the largest single-day pullback since Oct 10, closed below 6,800.  Breadth weakened on Thursday, as decliners increased for a third day with the second highest number of decliners in three months.  Essentially the SPX reversed Monday’s rally, closing just nine points above last Friday’s close and above the high of the low day.  Declining capital was multiples of advancing capital with more than 67% of that amount coming from TSLA, NVDA, PLTR and AMD.

SPY opened lower, sold off on above average volume and closed just above Friday’s hammer. Thursday’s selloff neutralized Monday’s bull flag bounce. The visual evidence continues to indicate that the intermediate trend is more probable to continue.  The four-week SPY trend is still up.  The three- and six-month trends are up.  Dave

NDX -2.05%, below the high of Friday’s hammer. 

DJI, 47,457, -1.65%, pullback from all-time closing high on Wednesday, led by GS, CAT and JPM.

NVDA -6.94, -3.58%, EPS on November 19 AMC.

AVGO -15.24, -4.29%, at short term support.

ORCL -9.42, -4.15%, closes at intermediate term muti-month support.

Mega caps BRK/B, META rose and AAPL, MSFT, AMZN, GOOGL, TSM, NVDA, AVGO TSLA fell on Thursday. 

SPY down -11.34 at 672.04, 103.2 million shares, above average volume.

VIX up +2.49 at 20.00,

QQQ down -12.68 at 608.40

UNH, GS, CSCO, NKE led DJIA, 8 advancers, -13

AMD, ALB, UAL, CMG led SPX, 132 advancers,

AMD, ADI, CDW, CSCO led NDX, 23 advancers.

Up:  

Down: SPY, DIA, QQQ, IWM,

The SPY MFC green line is pointed up at 68.7, and price-action closed above last Friday’s hammer and is short-term bullish. +1.0

One of eleven sectors was higher and XLP was unchanged on Thursday led by XLE, XLP and XLV. 

Uptrend sectors: XLK, XLV, XLY, XLI, XLC, XLU, XLF, XLE,

Neutral sectors: XLB, XLRE,

Down trend sectors: XLP,

The 6-month intermediate trend breakout is up.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down 

23 of 100 NDX stocks closed higher on Thursday.

36 NDX stocks are above their 30 DMA: MU, LRCX, WBD, CRWD, MRVL, EA, AEP, AMD, AMGN, AAPL, GOOGL, KLAC, ROST, CSCO, ISRG, BIIB, MDB, QCOM, CTSH, PDD, AMZN, REGN, IDXX, MAR, AZN, DDOG, BKR, CCEP, FANG, MNST, SBUX, VRTX, GILD, ADI, KDP, NFLX,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 8

AMAT, ASML, AVGO, BKNG, MRVL, NVDA, PCAR, ZS,

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