© 2021
Stocks opened higher Friday, sold off most of the day and closed
lower. A rally before the close,
lifted SPX, NDX and DJI above their afternoon lows. The SPX closed at 4,538, -38.67, and the NDX closed
at 15,712, -278.72.
Jobs Report for November was below consensus, but futures initially
moved higher.
DOCU
-98.73, -42.22% at 135.09 collapses on a
negative earnings reaction.
MRVL
+12.56, +17.68% at 83.59 gaps up on a positive
earnings reaction.
SPY down 3.98 at 453.42, on 137.3 million shares, above average volume, down on higher volume.
VIX up 2.72 at 30.67
QQQ down 6.78, -1.74% at 383.13
WBA, PG, IBM, WMT led the DJIA, 15 advancers, -8
VIAC, COO, DISCA, SWK led the SPX, 196 advancers.
MRVL, PEP, EA, TMUS led the NDX, 32 advancers.
The two-year trend term is up. The one-year trend is up.
Up:
Down: DIA, SPY, QQQ, IWM,
SPY = channel
bounce setup
DIA = channel
bounce setup
QQQ = re-breakout
after BO test
IWM = channel
bounce setup
Three
of eleven
sectors were higher on Friday, led by XLP,
XLU and XLV.
Consumer Staples leaders: WBA, PEP, TSN, GIS
Utilities leaders: CNP, ES, WEC, ED
Health Care leaders: COO,
XRAY, BAX, TFX
Advancers weakened on Friday as decliners led 2,443 to 912
on the NYSE and led 3,693 to 1,017
on the NASDAQ.
The SPY MFC green line
is pointed down at 33.7 and is short term bearish. SPY closed above
Wednesday’s low.
Uptrend sectors: XLK, XLY, XLRE, XLE, XLF, XLV,
Neutral sectors: XLP, XLU, XLB, XLI,
Down trend sectors: XLC,
The 6-month intermediate trend is up. The
ten-day trend is up.
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Down a little
32 of 100 NDX stocks
closed higher on Friday.
32 NDX stocks are above their 30 DMA: DLTR, VRSK, XLNX, AMD,
AVGO, NVDA, AAPL, COST, INTU, QCOM, REGN, KLAC, NXPI, PTON, VRSN, LRCX, MCHP,
MU, GILD, MRNA, VRTX, ADP, CDW, CSCO, FAST, ORLY, SNPS, TXN, XEL, CSX, MRVL,
PEP,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 3
CSX, MRVL, PEP,
Moving Below 30 DMA = 6
ADBE, ANSS, CDNS, INCY, JD, NTES,
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1 comment:
Thank you, Dave! It’s always interesting to me when the market sells off during the holidays.
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