RUT, NDX, SPX, DJI Closed Higher as VIX Falls...Utilities, Basic Materials, Technology Led Sectors...Happy Thanksgiving !!!

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Markets are closed on Thursday for the Thanksgiving Holiday.  Markets close at 1 pm ET on Friday for a half day of trading.

Happy Thanksgiving to you and your loved ones.

SPX +46.73, 6,812, opened higher, trended up, closed higher for a fourth day.  Breadth was mixed and remained positive on Wednesday heading into the long Thanksgiving Day holiday. The SPX broke out of its October 9 to November 25 horizontal resistance. 

NDX +0.87%, higher close above its 30-DMA.

DJI, 47,427, +0.67%, opened higher, closed higher, led by GS, MSFT and CAT.

NVDA +2.44, +1.37%, opened higher, traded in a range, closed above the high of the low day in a channel bounce.

AVGO +12.54, +3.26%, broke above horizontal resistance to an all-time closing high.

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

SPY up +4.66 at 679.68, 71.8 million shares, below average volume.

VIX down -1.37 at 17.19,

QQQ up +5.38 at 614.27

BA, WMT, MSFT, GS led DJIA, 21 advancers, -7

HOOD, TER, DELL, APP led SPX, 357 advancers,

APP, MRVL, WBD, AMD led NDX, 71advancers.

Up: IWM, QQQ, SPY, DIA,

Down:

The SPY MFC green line is pointed up at 41, and price-action rose for a fourth day and is short-term bullish. +9.5  

Ten of eleven sectors were higher on Wednesday led by XLU, XLB and XLK. 

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

Neutral sectors: XLF, XLRE, XLB,

Down trend sectors: XLP,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

71 of 100 NDX stocks closed higher on Wednesday.

44 NDX stocks are above their 30 DMA: WBD, MRVL, AEP, AMGN, AAPL, GOOGL, ROST, CSCO, ISRG, BIIB, CTSH, REGN, IDXX, MAR, AZN, BKR, FANG, MNST, GILD, ORLY, GEHC, KHC, PCAR, VRTX, ADI, AMAT, AVGO, EA, GFS, MU, CCEP, LULU, SBUX, ADSK, ASML, CSX, KDP, LRCX, MRVL, ON, PEP, TXN, VRSK, XEL,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 11

ADSK, ASML, CSX, KDP, LRCX, MRVL, ON, PEP, TXN, VRSK, XEL,

Moving Below 30 DMA = 1

WDAY,

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RUT, DJI, SPX, NDX Bounce Back Recovery Continues as VIX Falls...Health Care, Consumer Discretionary, Basic Materials Led Sectors...LLY Becomes a Mega Cap...

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SPX +60.76, 6,765, opened near unchanged, formed a white candle closed higher.  Breadth remained positive on Tuesday with advancers increasing and net change capital remained positive in the NDX and SPX. The SPX was a channel bounce, closing above its October 10 and November 20 high. 

NDX +0.58%, higher close.

DJI, 47,112, +1.43%, opened higher, closed higher, led by CRM, UNH and CAT.

NVDA -4.73, -2.59%, opened lower on information that META was considering buying GOOGL TPU chips in 2027, (a speculative conjecture about a possible future event), rallied $8 from its low to close higher than it opened.

AVGO +7.07, +1.83%, opened higher, closed higher.

LLY has joined the trillion-dollar market cap Mega-cap group, which now includes 11 companies.  Mega caps LLY, META, AVGO, GOOGL, AMZN, MSFT, AAPL, TSLA, BRK/B, TSM rose and NVDA fell on Tuesday. 

SPY up +6.29 at 675.02, 80.9 million shares, below average volume.

VIX down -1.96 at 18.56,

QQQ up +3.73 at 608.89

CRM, NKE, WMT, UNH led DJIA, 28 advancers, +13

ALB, CMG, LEN, VLTO led SPX, 423 advancers,

LULU, DASH, META, ABNB led NDX, 81advancers.

Up: IWM, DIA, SPY, QQQ,

Down:

The SPY MFC green line is pointed up at 31.5, and price-action rose for a third day and is short-term bullish. +8.5  

Nine of eleven sectors were higher on Tuesday led by XLV, XLY and XLB. 

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

Neutral sectors: XLF, XLRE,

Down trend sectors: XLB, 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: Up

81 of 100 NDX stocks closed higher on Tuesday.

34 NDX stocks are above their 30 DMA: WBD, MRVL, AEP, AMGN, AAPL, GOOGL, ROST, CSCO, ISRG, BIIB, CTSH, REGN, IDXX, MAR, AZN, BKR, FANG, MNST, GILD, ORLY, GEHC, KHC, PCAR, VRTX, ADI, AMAT, AVGO, EA, GFS, MU, CCEP, LULU, SBUX, WDAY,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

CCEP, LULU, SBUX, WDAY,

Moving Below 30 DMA = 1

KDP,

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NDX, RUT, SPX, DJI Close Higher as VIX Drops...Technology, Consumer Discretionary, Utilities Led Sectors...AVGO +11%...

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SPX +102.13, 6,705, opened higher, white candle, closed above Friday’s bullish harami. Breadth remained positive on Monday with advancers and a significant increase net change positive capital. The SPX was a channel bounce, nearing the high range of both its October 10 and November 20 large red candles. 

NDX +2.62%, higher open, higher close, large white candle closed above Friday’s harami.

DJI, 46,448, +0.44%, opened higher, closed higher, led by GS, CAT and IBM.

NVDA +3.67, +2.05%, opened slightly higher, traded in a range, closed higher.

AVGO +37.76, +11.10%, opened higher, closed higher.

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

SPY up +9.70 at 668.73, 80.3 million shares, below average volume.

VIX down -2.91 at 20.52,

QQQ up +15.09 at 605.16

MRK, AMZN, IBM, GS led DJIA, 15 advancers, -10

AVGO, WDC, MU, APP, HOOD led SPX, 261 advancers,

AVGO, MRVL MU, APP led NDX, 67 advancers.

Up: QQQ, IWM, SPY, DIA,

Down:

The SPY MFC green line turned up at 23, and price-action closed above the high of the bullish harami and is short-term bullish. +2.3   The bounce we were watching for happened on Monday.

Nine of eleven sectors were higher on Monday led by XLK, XLY and XLU. 

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

Neutral sectors: XLF, XLRE,

Down trend sectors: XLB, 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: Up

67 of 100 NDX stocks closed higher on Monday.

31 NDX stocks are above their 30 DMA: WBD, MRVL, AEP, AMGN, AAPL, GOOGL, ROST, CSCO, ISRG, BIIB, CTSH, REGN, IDXX, MAR, AZN, BKR, FANG, MNST, GILD, ORLY, GEHC, KDP, KHC, PCAR, VRTX, ADI, AMAT, AVGO, EA, GFS, MU,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 6

ADI, AMAT, AVGO, EA, GFS, MU,

Moving Below 30 DMA = 3

CCEP, INTU, SBUX,

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