Weekend Report for Monday, December 1

Weekend Report for Monday, December 1, 2025

Bottom Line:

From last weekend’s Report:

The benefit of the doubt has to go with the bull market continuing soon. The bull leg off the April low was extraordinary vertical – historically so. The current retracement volatility is normal and overdue.

Next week’s trade is likely to put in an important low if the bull market is intact.

It is quite possible we’ve seen an important low. Last week is seasonally one of the most bullish weeks of the year. The rally continued into almost into Friday’s top tick. If an important low is in place and the indices are going to ramp into the end of the year, retracements should be similar to what we’ve seen since the April low – relatively shallow and short-lived.

PDF: Weekend Report_2025_11_29
VIDEO: https://youtu.be/_jlumDEHHsA
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SPX

Upper KRA: 6891-6922
Lower KRA: 6819-6812; 6785-6766

NDX

Upper KRA: 25760-25984
Lower KRA: 25289-25231; 25084-25081

DOW

Upper KRA: 48233-48434
Lower KRA: 47495-47422; 47204-47107

NYA

New ATH……

Upper KRA:
Lower KRA: 21715; 21549

RSP

Upper KRA: 192
Lower KRA: 190; 189

RUT

Upper KRA: 2389-2401
Lower KRA: 2302

VIX spiked to just above 26 on Thursday, its highest close since the April lows were forming. It did close lower on Friday. There is nothing definitive from this indicator right now.

Internals

From last weekend’s Report: The 5-day MA of NYSE advancing issues on Thursday closed at its largest downside extreme since the April lows.

Andddd…just like that, order is restored. On Friday the 5-MA of NYSE advancing issues reached its highest extreme reading since the kick-off from the April low. This reflects the broadening of the rally and the strength reflected by NYA, RUT and RSP. However, the indices are likely to at least soon pause and slow the rate of change to the upside we saw all last week.