S&P 500 Percent of stocks above the 20, 50, and 200-day moving average.

NASI even more oversold after Fridays close. Back near march levels w/ QQQ at ATHs.

RT @McClellanOsc: My friend @mark_ungewitter noted recently that the NYSE has posted the first requirement of a Zweig Breadth Thrust (ZBT),…

Another extreme reading on the NYSI, and it's still falling. Breadth is now more oversold than at the April 2026 bottom and the April 2025 low, and it's closing in on October 2023 levels. It's not far from the 2022 bear market lows either. For context, here's how far the S&P 500 fell in each of those periods: April 2026: -9% April 2025: -20% October 2023: -10%

Today's Chart of the Day was shared by @ConnorJBates_ After four months of consolidation, the Nasdaq 100 closed at new all-time highs despite a growing list of headwinds, including rising Treasury yields, deteriorating breadth, and concerns around the risks of AI. Get the full details in today's report plus more great charts. thechartreport.com/10-02-26

$HPE Leader

$MXL Strong breakout today!

Seasonality Reminder

$HPE $NTAP $DELL Sweet moves

RT @eliant_capital: “We’re entering a hiking cycle”

$NAIL Nearly Highest Volume Ever Yesterday. Capitulation.

85% Chance Fed Maintains Rate

$QQQ Triggering 4+ Month Base Breakout

September Nonfarm Payrolls 29K vs. 100K consensus; prior revised to 133K from 162K

Not many talking about $NVDA and on the verge of new ATH pre market on the upgrade.

📺 Yields May Be Topping — Is This The Start Of The Next Stock Rally? Please ❤️like and 🔁share with fellow growth stock investors @ConnorJBates_ notes that the new month and quarter are starting on a constructive note, with market leadership holding up well and several beaten-down areas finally showing signs of stabilization. The S&P 500 $SPX / $SPY remains a short-term battleground around its 8- and 21-day EMAs, but the bigger technical development was an undercut and reclaim of the 50-day moving average. Meanwhile, $QQQ remains the clear leader and looks increasingly poised for a breakout. After running from roughly $700 toward its prior peak near $748, $QQQ has been building a tight handle just below the highs. That’s exactly the kind of consolidation you want to see after a strong advance. * The more interesting development, however, may be what’s happening underneath the surface. $RSP had been down seven consecutive weeks with a persistent series of lower highs, but it just produced a hammer after undercutting and reclaiming the prior day’s lows. The Dow $DIA is attempting a similar reversal around its longer-term moving averages, while mid-caps $MDY have reclaimed the 200-day and are pressing against their downtrend line. Small-caps $IWM is also showing early signs of stabilization. If these lagging areas begin participating while tech remains strong, the market could transition from a narrow leadership environment into something closer to an “everything rally.” * But the biggest signal may be coming from bonds. $BND and $TLT both produced sharp reversal patterns after becoming extremely stretched to the downside. $TLT in particular had moved well below its 8-day EMA before reversing. If that bond reversal can build over the next several sessions, Treasury yields may be forming a short-term top. That matters because yields remain one of the biggest macro drivers for equities. Falling yields could remove a major headwind for growth stocks and potentially provide the fuel for $QQQ and the broader indexes to break higher. * The timing is also interesting. We’re entering a historically favorable stretch of the calendar, with October through year-end typically offering stronger seasonality, alongside a particularly positive portion of the presidential cycle. So the setup is becoming clear: – $QQQ is sitting near breakout territory – The S&P has reclaimed its 50-day – Breadth may finally be attempting a reversal – Bonds are bouncing – Yields may be topping – And favorable seasonality is arriving * Now the market needs confirmation: recent lows need to hold, the S&P needs to maintain its 50-day reclaim, $QQQ needs to break through its prior highs, and the bond reversal needs follow-through. If those pieces come together, this could be the setup for the next broader stock-market rally. * Watch this Short video where @ConnorJBates_ breaks it all down in detail 🔽

Negative $STX $WDC

Zooming out to the weekly charts, many of the semis were simply consolidating or retesting massive weekly base breakouts. Now triggering to the upside again. EX: $MXL $MRVL $AMD $INTC

Morgan Stanley reinstated $NVDA as its top semiconductor pick after a roadshow with Jensen Huang. Power and data-center constraints favor NVIDIA’s compute per GW. Agentic AI should be a even major GPU demand driver, with valuation still “very undemanding.”

"By far the best economic predictor I've ever met is the inside of the stock market." ~ Stanley Druckenmiller