11/25 Cautiously Bullish. 480 Buying | 110 Selling.
% Stocks Over 50SMA is Bullish. Primary Indicator is Bearish – Caution. 20% Weekly is Bullish.
The market showed solid gains led by mega-cap tech and communication services amid rising rate-cut expectations for December, supporting a cautiously optimistic tone. Nasdaq outperformed with strong momentum in AI and chip stocks, while defensive sectors lagged. Volatility (VXX) declined, reflecting reduced fear and stable conditions.
Healthcare and biotech sectors demonstrated strong late-day momentum and closing strength, signaling potential continuation setups in names like MDGL, JAZZ, and SLDB. Consumer discretionary showed mixed action with some breakout candidates. Materials and industrials were mixed but showed pockets of strength.
Upcoming catalysts include Tuesday’s PPI, Retail Sales, and Consumer Confidence data, which may influence near-term sentiment and momentum.
Key Takeaway:
Focus on continuation setups in healthcare and biotech stocks showing rising volume and strong closes near highs, while monitoring mega-cap tech leadership for broader market direction. Use tight stops below key support levels to manage risk amid mixed breadth and a cautious primary indicator. Avoid laggard consumer discretionary and speculative names without clear volume support.
Watchlist
Continuation: AS (S1: 35.5, S2: 35.5, S3: 35.5, R1: 36, R2: 36.5, R3: 37)
Anticipation: REGN (S1: 765, S2: 761.5, S3: 760, R1: 768, R2: 770, R3: 775)