SPX Rallies to a Positive November...Bearish Talking Heads Talk Looks Cheap, As Big Money Action Speaks Louder Than Words...

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SPY, DIA and IWM finished higher for the month of November after a lower October.  Optimism of potential progress at the G-20 meeting in the U.S./China trade war seemed to lift the market during the last two hours of trading on Friday.

Chart Signals was disappointed this week when a number of talking heads referred to the current market environment as a bear market.  Sadly, when a broad market long term up trend, is referred to as a bear market it shows ignorance, disconnection from reality or a more sinister effort to scare viewers, listeners or readers into an emotional state by commentators.

Whatever their motive “bear market” talking heads again prove their talk is cheap and that institutional action speaks louder than words.

The DJIA, closed up 199 points at 25,538, led by strength in CAT, HD, BA, MMM and IBM.  This is the third close above 25,000 since Nov 19.

Nine of eleven sectors were higher on Friday, led by materials XLB +0.72% and energy XLE +0.65%.

SPY up 1.67 at 275.65 on 98.2 million shares, 12% below average volume. Up on higher volume.

VIX down .72 at 18.07 

Oil down .54 at 50.72

TLT up .43 at 115.33 on 9.1 million shares. 

CAT +4.18%, INTC +3.38%, led the DJIA, 24 advancers, +12

ABBV +4.85%, SIVB +4.55% and RJF +4.54%, led the SPX.

WDAY +12.87%, AAL +4.53%, NVDA +3.86%, and GILD +3.23% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up: DIA, QQQ, SPY, IWM,

Down:

Breadth strengthened on Friday, as advancers led 1,611 to 1,347 on the NYSE and led 1,663 to 1,419 on the NASDAQ

The SPY MFC green line is pointed up at 56 and is short-term bullish.

Uptrend sectors:   XLRE, XLU, XLP,

Neutral sectors:  XLV, XLF, XLB, XLY, XLI,

Down trend sectors: XLE, XLC, XLK,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

65 of 100 NDX stocks closed higher on Friday.

76 NDX stocks are above their 30 DMA.  SBUX, WBA, TSLA, PEP, XLNX, CMCSA, INTC, AAL, FOXA, MDLZ, ULTA, MNST, SYMC, FAST, MCHP, MYL, VRSK, CTXS, XRAY, ADI, NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AVGO, CSX, CTAS, ORLY, VOD, WDAY, BIIB, ESRX, ADP, ADSK, AMGN, CSCO, HSIC, ILMN, LRCX, MELI, SIRI, TXN, WYNN, ALXN, CHTR, MSFT, VRTX, ADBE, AMZN, ASML, BKNG, COST, CTSH, EBAY, FISV, GOOGL, ISRG, PYPL, REGN, SNPS, TMUS, DLTR, INTU, LBTYA, BIDU, CDNS, CHKP, EXPE, GILD, IDXX, MU, STX,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 8

BIDU, CDNS, CHKP, EXPE, GILD, IDXX, MU, STX,

Moving Below 30 DMA = 3

BMRN, HAS, MAR,

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