NDX Gains as SPX, DJI, RUT Pause after Thanksgiving Day Weekend...MRNA Rally Continues...

 
© 2020
 
The rally paused on Monday after Friday’s rise.  Multiple news sources reporting the DJI gained 11.8% in November its best monthly gain since 1987.  Trivia.  If you made good decisions in November, you likely made money.  If you didn’t make good decisions, you likely lost money. 
 
What news source told you at the end of October that November would be a stellar month and go long the DJI?  Oh, not one.  So, why do you read the news again?  Oh yes, to be told after the fact.
 
My suggestion: skip the news from now on, read the charts and make better decisions.
 

The DJIA 29,638 fell 271 points on day three of a breakout test and is forming a bull flag setup
 
NDX +10.11, +0.08%, closed at its November 9 high resistance and is a breakout setup. 
 
SPX -16.72, -0.46%, closed at 3,621, and formed a hammer just below November 9 horizontal resistance. 
 
Two of eleven sectors were higher on Monday, led by XLK, XLV and XLP. 
 
Technology leaders: AMD, XLNX QRVO, SWKS
Healthcare leaders: DHR, TFX, PFE PKI
Consumer Staples leaders: KR, CHD, CAG, GIS
 
SPY down 1.61 at 362.06 on 83.8 million shares, above average volume, down on higher volume.
VIX down .27 at 20.57
 
AAPL, INTC, WMT, CSCO led the DJIA, 10 advancers, -5
INFO, QRVO, DHR, IRM led the SPX, 148 advancers
MRNA, AMD, XLNX SWKS led the NDX, 49 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ,
Down: SPY, DIA, IWM,
 
Advancers weakened on Monday as decliners led 2,183 to 958 on the NYSE and led 2,354 to 1,318 on the NASDAQ
 
The SPY MFC green line is pointed up at 93.8 and is bullish.  Price action is a re-breakout.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLP, XLV, XLF, XLC, XLK, XLE,
Neutral sectors:  XLRE,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Sideways
 
48 of 100 NDX stocks closed higher on Monday.
 
85 NDX stocks are above their 30 DMA:   IDXX, QCOM, ADP, XLNX, SIRI, ALGN, GOOGL, PDD, EXPE, NXPI, PAYX, CSX, KLAC, LRCX, TXN, ADI, AMAT, CTSH, FAST, MAR, MCHP, MU, MXIM, SBUX, VRSK, WBA, ASML, BKNG, CTAS, FISV, INTU, MNST, TCOM, TMUS, MRNA, WDC, CMCSA, ROST, ULTA, CHTR, CSCO, MDLZ, PEP, AVGO, COST, JD, MELI, LBTYA, ADSK, KHC, AMD, FOXA, LULU, TSLA, DLTR, NTES, TTWO, CERN, BMRN, PYPL, FB, MSFT, AMZN, DOCU, EBAY, VRTX, AAPL, ADBE, ANSS, ATVI, BIDU, CDNS, CTXS, EA, GILD, ILMN, INTC, ISRG, SNPS, SPLK, VRSN, WDAY, ZM, NFLX, NVDA,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 2
NFLX, NVDA,
 
Moving Below 30 DMA = 3
ALXN, CDW, CHKP,
 
 
Add Comments here: