11/26 Cautiously Bullish. 450 Buying | 110 Selling.
% Stocks Over 50SMA is Bullish. Primary Indicator is Bearish – Caution. 20% Weekly is Bullish.
The market continues its rebound with major averages reclaiming their 50-day moving averages, driven by broad-based buying despite lingering tech sector weakness. Healthcare and consumer discretionary sectors led gains, supported by strong late-session accumulation and improving biotech momentum. Semiconductor and industrial stocks show selective strength, while mega-cap tech remains under pressure amid emerging competitive concerns. Volatility eased as VXX declined, signaling reduced market anxiety.
Focus ahead is on Wednesday’s durable goods orders and initial claims data, alongside continued monitoring of FOMC rate cut probabilities and key earnings from notable names including ANF, BABA, and ADI.
Key Takeaway:
Swing traders should prioritize high-conviction continuation setups in healthcare (LLY, REGN, ISRG) and select semiconductors (MPWR, CRDO, SITM) showing strong late-session volume and breakout closes. Avoid chasing tech mega-caps like NVDA and AMD amid sector rotation and overhead supply. Manage risk with tight stops below recent higher lows and favor pullback entries near established support levels to capitalize on momentum while guarding against volatility spikes.
Watchlist
Continuation: LLY (S1: 1105, S2: 1100, S3: 1095, R1: 1111, R2: 1115, R3: 1120)
Anticipation: MPWR (S1: 896, S2: 890, S3: 880, R1: 905, R2: 910, R3: 920)