The indexes left an island reversal up top today, but MU put in a very impressive candle in the memory space, and that tug of war could mean a couple of days of two-sided action. I also walk through XOM and Wayfair as runs into earnings, plus whether AAPL can hold $330 into Friday.
The S&P 500 gapped to new all-time highs and held it all day, but from the open to the close it moved only 10 points. I call these professional days, and I explain what they mean for where we go next. Then I step back to the bigger charts on the Nasdaq, Micron, Tesla, Meta and Microsoft.
Nasdaq futures hit new all-time highs today after multiple squeezes fired, and the semis are leading the way. I walk through NVDA, TSM, AMD, ARM and MRVL, plus where I took profits today. I also cover two high short float names reporting soon from my free earnings calendar.
QQQ has the setup for a breakout, and if this market is going higher, all roads lead through NVDA. Its squeeze is an absolute monster. Before any of it pays, the bond market and the dollar have to cooperate, so I walk through the HYG and dollar levels I’m watching, my three pivots on SPY, NQ and ES, and the trades I’m in, including MSFT and ANET.
We just entered the strongest stretch of the 4-year presidential cycle, and today’s S&P dip got bought right back up. I break down the new October monthly Quant Pivots, why Micron’s great earnings were already baked in, and how Accenture lifted the whole software group. Jobs report hits tomorrow morning before the bell.
