SPY, QQQ Bull Flag Bounce...FB Leads QQQ...Communication Services, Technology Lead Sectors...

 
 
© 2021
 

SPX, NDX, opened higher, closed higher and both were bull flag bounces after a three day pull back.  DIA, IWM are bull flag setups.
 
RIVN +6.96, +5.66% third trading day.
 
 
Monday: RUT, DJIA, SPX all-time closing high
Tuesday: TSLA Selloff, Flag pullbacks
Wednesday: CPI report BMO, higher than expected, futures pulled back.
Thursday: Veteran’s Day, light volume SPY trading
Friday: bull flag bounce SPY, QQQ
 
SPX closed at 4,682, and NDX closed at 16,199
 
 
SPY up 3.50 at 467.27, on 53.4 million shares, below average volume, up on lower volume.  
VIX down 1.07 at 16.29
QQQ up 4.11, +1.05% at 394.70
 
 
MMM, AAPL, HD, MSFT led the DJIA, 19 advancers, +7
ETSY, CZR, LH, SWK led the SPX, 328 advancers.
FB, DOCU, NFLX, MU led the NDX, 74 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, DIA, IWM,
Down:
 
SPY = bull flag bounce
DIA = four -day bull flag
QQQ = bull flag bounce
IWM = four-day bull flag
 
Eight of eleven sectors were higher, and one was unchanged on Friday, led by XLC, XLK and XLI.
 
Communication Services leaders: FB, NFLX, ATVI, GOOGL
Technology leaders: MU, INTU, PYPL, WDC, STX
Industrials leaders: MAS, FBHS, AOS, CARR
 
Advancers weakened slightly on Friday as advancers led 1,813 to 1,539 on the NYSE and led 2,515 to 2,177 on the NASDAQ.
 
The SPY MFC green line is pointed down at 89.9 and is counter-trend defensive.  SPY is a bull flag bounce. 
 
 
Uptrend sectors:  XLY, XLK, XLB, XLI, XLP, XLRE, XLE, XLF, XLV,
Neutral sectors:  XLC, XLU,
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
 
74 of 100 NDX stocks closed higher on Friday.
 
75 NDX stocks are above their 30 DMA:  TSLA, SGEN, DLTR, PAYX, ADP, CSX, TEAM, CTAS, MRVL, NTES, PEP, VRSK, XLNX, SPLK, AMD, CRWD, MSFT, WDAY, ADSK, ANSS, AVGO, CPRT, CTSH, EXC, NVDA, AAPL, ADBE, COST, INTU, LULU, CDNS, DXCM, QCOM, AEP, ISRG, MDLZ, SNPS, CSCO, GOOGL, REGN, ASML, ADI, AMAT, CDW, HON, KDP, KLAC, NXPI, PTON, ROST, SIRI, CERN, OKTA, VRSN, ALGN, AMGN, KHC, LRCX, MCHP, MU, AMZN, VRTX, WBA, MNST, ORLY, MELI, GILD, BIDU, EA, JD, NFLX, PDD, TCOM, FB, SWKS,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 2
FB, SWKS,   
 
 
Moving Below 30 DMA = 1
BKNG,
 
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