After the Close Review of this week’s market action…IWM, QQQ, SPY, DIA, weight of the
evidence analysis including advancers, decliners and dollar volume of advancing
and declining issues in the NDX and SPX, weekly charts on IWM, QQQ,
SPY, DIA, XLY, XLK, XLU, XLRE, XLE, XLF, XLB, XLV, XLI, XLP and more bull flag and breakout
setups and great technical analysis insights…9:1 pm PST
Three sectors were higher on Friday, led by energy XLE +0.49% and
discretionary XLY +0.44%.
Consumer
discretionary stocks FL, VIAB, ROST,
GPS, FOXA, TGT, DISCA, ULTA, FOSL, KSS, NKE, SIG, OMC, TJX, LB, UAA, PH, JWN,
CMG, GT, IPG and TIF all gained
more than 2% on Friday.
SPY down .76 at 257.86 on 75.7 million shares, 25% above average volume. Down
on higher volume.
VIX down .33 at 11.43
Oil up 1.33 to 56.80
TLT up .93 to
at 126.39…on 6.9 million shares, average volume. Up on higher
volume.
NKE +3.42%, and VZ +1.45%, led
the DJIA, 8 advancers.
FL +28.16%, GPS
+6.99% and
SWN +5.74% led the SPX.
NTES +12.65%, VIAB
+10.38%, ROST +9.99%,
FOXA +6.24%, and DISCA +4.71%, led the NDX.
Intermediate
and long term up trend intact. 3-day short term trend is neutral.
Up:
IWM,
Down:
SPY, QQQ, DIA
Breadth weakened on Friday as
advancers led 1,872
to 1,024 on the NYSE and led 1,788 to
1,101 on
the NASDAQ.
The SPY MFC green
line turned down
at 76.7 defensive.
Uptrend
sectors: XLY, XLK,
XLU, XLRE, XLE, XLF,
Neutral
sectors: XLB, XLV, XLI, XLP,
Down
trend sectors:
Intermediate-term trending stocks: LRCX, ADBE, PYPL, ALGN, NVDA, BA, SQ, V, MCD,
CAT, MU, CC, TRU, FB, A, ISRG, AA, CBOE, TTWO, AABA, BABA, FCAU, ANET, WYNN,
RACE, RNG, WUBA, TAL, CCL, RCL, LYV, EDU, SHOP, ATVI, WB
46 of 100 NDX stocks closed
higher on Friday.
60
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 2
SHPG, VIAB,
Moving Below 30 DMA = 3
CMCSA, CTSH, XLNX
The
intermediate and long-term trends are still up.
6-month Intermediate Term
Market Trend: Up
3-day Short Term Market
Trend: Neutral
1 comment:
Great video as usual.
Dave you have really helped my trading. I can't thank you enough for generously sharing your expertise and invaluable insight.
Have a great week and a wonderful thanksgiving!
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