11/24 Cautiously Bullish. 700 Buying | 130 Selling.
% Stocks Over 50SMA is Bearish. Primary Indicator is Bearish. 20% Weekly is Neutral.
Rate-cut optimism sparked a broad market rebound Friday, with major indexes closing near highs amid rising expectations for a December Fed cut. Small- and mid-caps led gains, while tech showed mixed performance with some late selling pressure. Volatility (VXX) ticked higher intraday but eased into the close, reflecting ongoing caution.
Communication Services (+2.2%), Health Care (+2.1%), and Consumer Discretionary (+1.7%) outperformed, while Utilities remained flat. Homebuilders surged on rate-cut hopes, and small/mid-cap biotech and niche healthcare names showed selective momentum late in the session.
No major U.S. economic data is scheduled Monday; focus remains on earnings and Fed commentary ahead of the December meeting.
Key Takeaway:
Traders should lean into selective continuation setups in healthcare and small/mid biotech while monitoring support levels in tech and broader indices. Avoid chasing late-day breakouts without confirmation, given mixed breadth and bearish primary indicators. Position sizing and stops near key intraday support are advised to navigate ongoing volatility and sector rotation.
Watchlist
Continuation: YOU (S1: 35.5, S2: 35.0, S3: 34.5, R1: 36.0, R2: 36.5, R3: 36.5)
Anticipation: TYRA (S1: 21.0, S2: 20.5, S3: 20.25, R1: 21.5, R2: 21.8, R3: 22.5)