Below are highlights from the NDW Morning Update Video for the morning of 11/09/2026.
Below are highlights from the NDW Morning Update Video for the morning of 11/09/2026. Access the video on the NDW Morning Update Video page.
- U.S. indices were mixed during Friday’s (11/6) trading, with the Nasdaq-100 (NDX) leading the way to the upside, gaining 1.35%, while the Dow Jones Industrial Average (.DJIA) fell 46 basis points. The Dow was the notable chart with action on 11/6, with a reversal down into Os to 51,000, placing a lower top on the chart for the first time since April and forming a double bottom. While most indices, like the S&P 500 (SPX), fell to give a sell signal in the back-half of last week, the Dow continues to maintain a buy signal at the moment.
- Crude oil (CL/) rallied 34 basis points, pushing the chart back into a column of Xs to $92 after holding support at $87. Meanwhile, gold (GC/) fell 93 basis points and reversed into Os after seeing the chart return to a buy signal early last week.
- Trending indicators like the 30- and 40-weeks followed the 10-week indicators moving lower, highlighting more stocks moving below their 150- and 200-day moving average. The 40-week for the S&P 500 (^40SPX) reversed into Os to 56%, suggesting a slight dip in large cap stocks trading above their 200-day moving average and that still more than half maintain above the long-term MA. While most bullish percents continue to maintain a column of Xs, the BP for the S&P Small Cap 600 (^BPSPSML) reversed lower to 48%, highlighting a decrease in stocks maintaining buy signals and now less than half of the small cap universe maintains a buy signal.
- Last week’s trading brought a number of changes to the NDW DALI Sector Rankings, but the notable highlight was the drop in technology. On the Asset Class Group Scores page, which measures the average score for all ETFs and mutual funds within an asset group, technology has fallen down to near the 2-score threshold (out of 6), marking the lowest level since April 2025. While the broader sector and semis have witnessed notable technical deterioration, software continues to maintain some strength compared to its peers within the broader sector.
- Earnings this week takes a slight reprieve compared to the prior two, but two notables are highlighted below.
- Occidental Petroleum (OXY) – Reports 11/9 – OXY has been a 4 for 5’er since August this year after seeing the stock shift back into a positive trend and show near-term positive market relative strength. After returning to a buy signal in late October at $64, the stocks has fallen back into Os on its chart and its testing support in the mid $50s. The bullish support line sits at $55, while the July 2026 chart low sits at $48.
- Cisco Systems (CSCO) – Reports 11/12 – CSCO fell to a 3 for 5’er in late October after reversing down into Os on its on the market RS chart. While still maintaining a positive trend, CSCO has been on a sell signal since September, and last week’s trading brought about a third sell signal at $102 as it fell to $94, marking its lowest level since early May. The bullish support line sits at $92, while additional can be found at $91 and $86.
