SPY, QQQ Reverse after New Highs form Bearish Engulfing...Energy, Financial Lead Sectors...MRNA Leads SPX, NDX...

  
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SPY and QQQ made new all-time intra-day high before reversing and forming bearish engulfing patterns on Monday.  
 
RIVN -10.49, -8.16% resumed pullback after pause on Friday.  RIVN traded 305,558 contracts on its fifth day of options trading.
MRNA +18.91, +7.17% led the SPX on Monday.
NUE +6.82, +6.04% rises
 
Monday: ZM negative EPS reaction after-hours
Tuesday: PMI Composite Flash report
Wednesday: Durable Goods and Jobless Claims reports
Thursday: Happy Thanksgiving holiday, market closed  
Friday: Half-day of trading, typically the lightest volume day of the year
 
SPX closed at 4,682 and NDX closed at 16,380
 
 
SPY down 1.32 at 467.57, on 72.6 million shares, above average volume, down on higher volume.  
VIX up 1.26 at 19.17
QQQ down 4.69, -1.16% at 399.30
 
 
TRV, CSCO, DOW, GS led the DJIA, 20 advancers, +13
LVS, NUE, F, CTRA led the SPX, 284 advancers.
MRNA, PCAR, KDP, GILD led the NDX, 28 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: DIA,
Down: SPY, IWM, QQQ,
 
SPY = hit new high before pullback, BO setup
DIA = at support, break of support or channel bounce
QQQ = hit new high before BO test, Re-breakout setup
IWM = pullback, Re-breakout setup at intermediate term resistance
 
Six of eleven sectors were higher on Monday, led by XLE, XLF and XLP.
 
Energy leaders: CTRA, PSX, COP, FANG
Financial leaders: AIG, PBCT, WFC, TRV
Consumer Staples leaders: KR, TAP, CAG, TSN
 
Advancers were mixed on Monday as decliners led 1,844 to 1,542 on the NYSE and led 3,081 to 1,655 on the NASDAQ.
 
The SPY MFC green line turned down at 93.8 and is counter-trend defensive.  SPY is a pause at resistance BO setup. 
 
 
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: Sideways
 
28 of 100 NDX stocks closed higher on Monday.
 
54 NDX stocks are above their 30 DMA:  TSLA, DLTR, PAYX, ADP, CSX, CTAS, MRVL, NTES, PEP, VRSK, XLNX, AMD, MSFT, ANSS, AVGO, CTSH, EXC, NVDA, AAPL, ADBE, COST, INTU, LULU, CDNS, DXCM, QCOM, AEP, SNPS, GOOGL, REGN, ASML, ADI, AMAT, CDW, KLAC, NXPI, PTON, VRSN, ALGN, LRCX, MCHP, MU, AMZN, MNST, JD, FB, GILD, XEL, TXN, AEP, CERN, KDP, ORLY, PCAR,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 5
AEP, CERN, KDP, ORLY, PCAR,
 
Moving Below 30 DMA = 7
ADSK, CPRT, IDXX, NFLX, SGEN, TEAM, WDAY,
 
 
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