December Starts with Celebration to the Upside...SPY, QQQ Near Highs...GOOGL Hits All-time High...

All nine sectors moved higher on Tuesday…XLV, XLF and XLY were the strongest sectors leading SPY, while XLI was the weakest sector. 

Breadth strengthened as advancers led decliners 1.45 to 1 on the NYSE and 1.34 to on the NASDAQ.

Tuesday – strengthened, advancers led

Monday – weakened, advancers led on NYSE

Friday – weakened slightly, advancers led

Thursday – Thanksgiving Holiday

Wednesday – strengthened, advancers led

SPY up 1.99 at 210.68 on 97.4 million shares

VIX down 1.46 at 14.67…

TNX down .63 at 21.55…

TLT up 1.38 at 122.83…on 12.7 million shares

XLF up .27 at 24.83…on 31.0 million shares

AAPL down .96 at 117.34 on 34.7 million shares

FB up 2.88 at 107.12 on 22.7 million shares

Technical Commentary:

QQQ +1.00%, SPY +0.95%, DIA +0.89%, IWM +0.66%.

SPY reached its 210.12 target on Tuesday, nearing HBO area.

QQQ nearing Nov 4 high of 115.47, potential HBO setup.

IWM HBO signal, chart target 123.07.

GOOGL +20.94, +2.74% hits new all-time closing high.

WYNN, AAL, MU, GOOGL, NVDA, WFM, TSLA, FB and PCLN all outperformed the NDX on Tuesday.

SOX +1.39% leads broad indexes, led by SUNE, MRVL, MU, NVDA, ON and SNDK.

Semiconductors: SMH, AVGO, LLTC, NXPI, ON, QRVO, SWKS are HBO setups.

Recent deletions from SOX: ALTR, BRCM, CREE, FSL

Recent additions to SOX: CY, INFN, MSCC, QRVO,

Financials:  XLF, FAS, ETFC, SCHW, STI, BAC, GS, MS are HBO setups.

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 79. 

Short-term Chart Targets:

SPY =...211.66…

QQQ = 115.47…

IWM = 120.99, 123.07…

                   

Support Levels

SPY = 208.56, 207.41

QQQ = 113.65, 112.84

IWM = 118.90, 116.56

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Setups

Horizontal Breakout: QQQ, MS, SCHW, AVGO, CY, INFN, INTC, LLTC, MRVL, ON, QRVO, TXN, AA, AIG, AMBA, CSIQ, ETFC, FAS, JUNO, LNKD, NCLH, PANW, SINA, TSL, VRSN, PCLN, FB

Diagonal Breakout: FB, MSCC, BABA, C, DAL, EXPE, JBLU, PYPL, RCL, SONC, SUM, TPX, W,

Bull Flag: CIEN, GLW, JNPR, NKE, NTES, V, YELP, YNDX,

Potential Bullish Divergence: SPG

Bear Flag: QCOM

Moves

New Highs: GOOGL, NVDA, JBL, AMAT, ARMH, TER, XLNX, PANW, QIHU,

H Breakout: IWM, MU, GOOGL, AAL, WYNN, INTC, KLAC, LRCX, MU, TSM, KWEB, SLCA, SPWR, ZION, TSLA,

D Breakout: TXN, BAC, CCL, FAS, LNKD, SVXY,

Bull Flag Bounce: GOOGL, CRM, CTRP, VRSN

Gap Up: QIHU, MU

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78 of 100 NDX stocks closed higher on Tuesday.

61 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 9

ADP, BIIB, DISH, ESRX, FB, LMCA, MU, SNDK, WYNN,

Moving Below 30 DMA = 1

INCY,

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up