Rebound Rally...QQQ Recovers Friday's Selloff...MRNA Leads SPX, NDX...Technology, Discretionary Lead Sectors...

 
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Welcome back we hope you had a great and safe Thanksgiving Day weekend.
 
 
SPX closed at 4,655 and NDX closed at 16,399 on a rebound rally from Friday’s Omicron fear selloff.  NDX and QQQ closed above Wednesday’s close, gaining more than Friday’s selloff.
 
 
SPY up 5.63 at 464.60, on 86.2 million shares, above average volume, up on lower volume.  
VIX down 5.66 at 22.96
QQQ up 8.49, +2.17% at 399.69
 
CRM, UNH, INTC, IBM led the DJIA, 18 advancers, +17
TER, STX, NXPI, MCHP led the SPX, 335 advancers.
MRNA, LRCX, NVDA, AMAT led the NDX, 76 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, DIA,
Down: IWM,
 
SPY = channel bounce above HOLD after Friday selloff
DIA = channel bounce above HOLD after Friday selloff
QQQ = bull flag bounce close above the HOLD
IWM = 14-day pullback to multi-week support
 
All eleven sectors were higher on Monday, led by XLK, XLY and XLU.
 
Technology leaders: LRCX, NVDA, TER, AMAT, STX
Consumer Discretionary leaders: TSLA, EXPE, RCL, GPS
Utilities leaders: FE, NEE, ED, SRE
 
Advancers strengthened on Monday as advancers led 1,855 to 1,525 on the NYSE and decliners led 2,693 to 2,009 on the NASDAQ.
 
The SPY MFC green line turned down at 78.4 and is defensive.  SPY rallied above three-week support and closed above the HOLD. 
 
 
Uptrend sectors:  XLK, XLB, XLI, XLY, XLP, XLRE, XLE, XLF, XLV,
Neutral sectors:  XLU, XLC,
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: Down
 
76 of 100 NDX stocks closed higher on Monday.
 
48 NDX stocks are above their 30 DMA:  TSLA, DLTR, ADP, CSX, MRVL, NTES, VRSK, XLNX, FAST, AMD, MSFT, AVGO, EXC, NVDA, AAPL, ADBE, COST, INTU, LULU, CDNS, QCOM, SNPS, REGN, CDW, KLAC, NXPI, PTON, VRSN, LRCX, MCHP, MU, AMZN, JD, GILD, XEL, INCY, MRNA, ADI, AMAT, ANSS, CTAS, FB, GOOGL, ORLY, PAYX, PEP, TXN, VRTX,

 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 11
ADI, AMAT, ANSS, CTAS, FB, GOOGL, ORLY, PAYX, PEP, TXN, VRTX,
 
Moving Below 30 DMA = 1
NFLX,
 
 
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