The SPY ETF closed the month at $456.40 (+9.13%), finding support at the aVWAP from the all-time high before swiftly reversing the previous three months’ worth of price action. This index is now trading just above the long-term descending trendline that it’s been stuck below since the July high.
The QQQ ETF was the strongest performing index in November, closing the month at $388.83 (+10.82%). The aVWAP from the March low acted as near-perfect support, and the price quickly managed to regain the PoC and close above the descending trendline from the all-time high.
Despite not being as far along as its counterparts, the IWM ETF put in a huge month, closing at $179.66 (+9.20%). After making a new multi-year low in October, the price swiftly reversed, regaining the bottom of the symmetrical triangle pattern and the PoC from the all-time high, closing right at the aVWAP from the summer high.