Stocks Pullback, Yields Surge, Housing Hit, QQQ Leads, A Setup in Defense, Two Bullish Cloud Stocks

Today’s report covers a leading stock in the Medical Devices ETF (IHI), which is the strongest group with the Healthcare sector. We then analyze NVDA as it consolidates above the October breakout and shows the SMH chart. Attention then turns to the Cybersecurity group with three stocks forming short-term consolidations.

Today’s video starts with long-term breadth, yield spreads and the major index ETFs to define the broad market environment. We then focus on short-term weakness and the pullbacks in RSP, IWM and MDY. Some tech ETFs are very extended and a key group continues to lag. Housing ETFs are testing support, while gold and silver hold their breakouts. We finish with follow up for eight stocks.

Today’s report starts with the Advance-Decline Percent indicators to measure participation over the last two weeks. We then turn to the S&P 500 EW ETF to define the current pullback, as well as two housing-related ETFs. Some tech stocks are looking extended and we offer detailed analysis of the Cybersecurity ETF (CIBR). We close with bullish setups in an animal healthcare stock and a business software stock.

Today’s report will cover the broad market environment. We start with the long-term breadth indicators for the S&P 500 and Nasdaq 100 (%Above 200-day, %Above 150-day, High-Low Percent). Attention then turns to the BBB yield spread and long-term chart analysis for SPY and QQQ. QQQ found its mojo as the MAG7 ETF leads. Mid-caps are lagging, micro-caps are leading the small-caps are mixed.

Today’s report starts with a defense stock and a fintech stock forming tight wedges. After reviewing the rebounds in the Healthcare and Biotech ETFs, we then focus on two biopharma stocks: one testing a Bullish Setup Zone and the other with a leading breakout. And finally, we feature an under-the-radar tech stock trading near its breakout point from late October.

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Today’s report analyzes the move in the 10-yr Treasury Yield, the surge in ITB and five home builder stocks. Home Builders were lagging the last few months, but the declines look like normal corrections. The retracements were normal and some surged off bullish setup zones. In addition, we are seeing a momentum thrust in %B.

Today’s report starts with some of the leading ETFs in strong uptrends – but without setups. These include software (IGV), fintech (FINX) and finance (XLF). Attention then turns to some oversold setups in Healthcare and Biotech, and the group’s leader (Medical Devices). MLPs are breaking out within the Energy sector and we are seeing two commodity ETFs strengthen (Uranium and Lithium). Turning to stocks, we have two breakout leaders (TJX, VRSK) and two former leaders with pullbacks (AVGO, UHS).

This report covers recent pullbacks in the major index ETFs (SPY, QQQ, MDY and IJR). Financials are a key driver for small-caps and I will show a leading uptrend in the Bank SPDR (KBE). We will then cover the breakout in the Robotics & AI ETF (BOTZ) and the pullback in the Cybersecurity ETF (CIBR).

Stocks went on a tear the last eight days, but most of these moves were simply extensions of existing uptrends. Nevertheless, many stocks and ETFs became very overbought short-term. These include KBE, IGV, SKYY, FINX and CIBR. We also see the market pricing in policy shifts in Healthcare (XLV) and Defense (ITA), as well as the prospects of tariffs (CPER, DBB). Despite overbought conditions, it is a bull market we will highlight three stocks setting up: DDOG, CSX and CCEP.

The election has come and gone, and the market trends remain the same. The major index ETFs were in uptrends well before the election, breadth was strong throughout September-October and yield spreads showed confidence. This broad market trio was, and is, bullish. Tech-related ETFs extended on their breakouts and we will feature three AI stocks. Commodities were all over the place so we will revisit industrial metals and copper. Analysis includes VRTX, FCX, COPX and DBA.