11/13 Cautiously Bullish. 320 Buying | 260 Selling.
% Stocks Over 50SMA is Bullish. Primary Indicator is Bullish. 20% Weekly is Bullish.
The market shows a rotation from mega-cap tech weakness into value and select growth sectors, with the DJIA hitting record highs while Nasdaq lags slightly. Strength in semiconductors like AMD and healthcare names such as Eli Lilly supports a cautiously optimistic tone. Energy weakness amid falling crude prices weighs on the sector, while volatility remains subdued.
Communication services and consumer discretionary sectors face profit-taking, while industrials and financials show steady gains. Key upcoming catalysts include Thursday’s CPI, Initial Claims, and Treasury auctions, alongside the government funding vote expected today.
Key Takeaway:
Focus on stocks and sectors demonstrating clear volume-backed momentum and relative strength, such as semiconductors, healthcare, and select industrials. Avoid fading late-day distribution patterns in travel, hospitals, and precious metals/miners. Use pullbacks near identified supports for entries, and respect stops below recent intraday lows. Monitor CPI and funding vote outcomes for potential volatility shifts.
Watchlist
Continuation: WCC (S1: 265.5, S2: 264.5, S3: 263.5, R1: 268, R2: 270, R3: 274)
Continuation: TDG (S1: 1300, S2: 1295, S3: 1290, R1: 1310.5, R2: 1315, R3: 1320)
Anticipation: OPEN (S1: 8.8, S2: 8.6, S3: 8.4, R1: 9.1, R2: 9.3, R3: 9.5)
Anticipation: CVNA (S1: 329, S2: 327.5, S3: 324, R1: 332, R2: 335, R3: 340)