Market narratives — 2026-11-14
Taxonomy v3-2026-11-08; observations through 2026-11-13. No trading authorization; paper buys on hold until about 19 Nov 2026.
| Sub-narrative | Stage | Signal | Reason and key readings |
|---|---|---|---|
| AI Chips SOXX | Rolling over | consider trimming | Trend: -13.1% vs its 50-day and -6.9% vs its 200-day SMA Relative strength: RS 1m vs SPY -10.7 pts Flow: 1-month flow +$7230.00M Epstein: SOXX close below 18-day middle band (155.7) = negative bias (Bollinger Band 18,2 %B 0.36; stochastic 14,3,5 %K 51.22 / %D 37.86; as of 2026-11-13) X mentions: 49,515 (+56% change) Mood: -0.6 Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Software sector IGV | Rolling over | consider trimming | Trend: -4.6% vs its 50-day and +7.4% vs its 200-day SMA Relative strength: RS 1m vs SPY -5.4 pts Flow: 1-month flow -$760.88M Epstein: IGV close below 18-day middle band (104.9) = negative bias (Bollinger Band 18,2 %B 0.29; stochastic 14,3,5 %K 24.3 / %D 18.79; as of 2026-11-13) X mentions: 10,356 (-11% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| AI Hyperscalers AIHY | Rolling over | consider trimming | Trend: -3.4% vs its 50-day and unknown% vs its 200-day SMA Relative strength: RS 1m vs SPY -4.6 pts Flow: 1-month flow +$1.17M Epstein: AIHY close above 18-day middle band (20.8) = positive bias; FIRST close above 18-day middle band (Epstein long-entry trigger) (Bollinger Band 18,2 %B 0.52; stochastic 14,3,5 %K 66.59 / %D 52.78; as of 2026-11-13) X mentions: 10,238 (+4% change) Mood: -0.1 Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| AI Optics LYTE | Unclassified | watch | Trend: -30.4% vs its 50-day and unknown% vs its 200-day SMA Relative strength: RS 1m vs SPY -25.4 pts Flow: 1-month flow -$46.72M Epstein: LYTE close below 18-day middle band (16.91) = negative bias (Bollinger Band 18,2 %B 0.28; stochastic 14,3,5 %K 41.05 / %D 31.25; as of 2026-11-13) X mentions: 3,604 (-16% change) Mood: -0.5 Signal basis: LYTE close at/below its 18-day SMA (no active cross) Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 Exposure: Approximately 50% China exposure; regional concentration, not a US-only optics basket. Snapshot-dependent. |
| AI Memory DRAM | Rolling over | consider trimming | Trend: -20.5% vs its 50-day and unknown% vs its 200-day SMA Relative strength: RS 1m vs SPY -11.8 pts Flow: 1-month flow -$1830.00M Epstein: DRAM close below 18-day middle band (45.74) = negative bias (Bollinger Band 18,2 %B 0.31; stochastic 14,3,5 %K 38.73 / %D 28.04; as of 2026-11-13) X mentions: 2,524 (-16% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Neocloud NCLD | Unclassified | watch | Trend: -31.6% vs its 50-day and unknown% vs its 200-day SMA Relative strength: RS 1m vs SPY -24.9 pts Flow: 1-month flow +$44.97M Epstein: NCLD close below 18-day middle band (15.09) = negative bias (Bollinger Band 18,2 %B 0.24; stochastic 14,3,5 %K 50.52 / %D 43.91; as of 2026-11-13) X mentions: 9,899 (-17% change) Mood: -0.5 Signal basis: NCLD close at/below its 18-day SMA (no active cross) Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Cybersecurity CIBR, BUG, HACK | Rolling over | consider trimming | Trend: -6.0% vs its 50-day and +12.6% vs its 200-day SMA Relative strength: RS 1m vs SPY -5.9 pts Flow: 1-month flow +$58.20M Epstein: CIBR close below 18-day middle band (99.7) = negative bias (Bollinger Band 18,2 %B 0.3; stochastic 14,3,5 %K 27.03 / %D 19.84; as of 2026-11-13) X mentions: 7,984 (-9% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Robotics and physical AI BOTZ, ROBO | Rolling over | consider trimming | Trend: -8.4% vs its 50-day and -13.9% vs its 200-day SMA Relative strength: RS 1m vs SPY -5.2 pts Flow: 1-month flow -$41.41M Epstein: BOTZ close below 18-day middle band (32.39) = negative bias (Bollinger Band 18,2 %B 0.19; stochastic 14,3,5 %K 30.71 / %D 29.68; as of 2026-11-13) X mentions: 9,414 (-9% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Quantum computing QTUM | Rolling over | consider trimming | Trend: -9.2% vs its 50-day and -6.0% vs its 200-day SMA Relative strength: RS 1m vs SPY -6.1 pts Flow: 1-month flow -$149.13M Epstein: QTUM close below 18-day middle band (133.7) = negative bias (Bollinger Band 18,2 %B 0.36; stochastic 14,3,5 %K 53.09 / %D 43.0; as of 2026-11-13) X mentions: 1,845 (-32% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| AI Data-Center Power & Grid AIPO | Rolling over | consider trimming | Trend: -11.8% vs its 50-day and -17.0% vs its 200-day SMA Relative strength: RS 1m vs SPY -8.7 pts Flow: 1-month flow +$5.88M Epstein: AIPO close below 18-day middle band (24.31) = negative bias (Bollinger Band 18,2 %B 0.36; stochastic 14,3,5 %K 55.29 / %D 46.07; as of 2026-11-13) X mentions: 3,209 (-4% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Nuclear and small modular reactors NLR, URA | Rolling over | consider trimming | Trend: -12.3% vs its 50-day and -27.8% vs its 200-day SMA Relative strength: RS 1m vs SPY -6.1 pts Flow: 1-month flow -$118.48M Epstein: NLR close below 18-day middle band (91.19) = negative bias (Bollinger Band 18,2 %B 0.26; stochastic 14,3,5 %K 50.18 / %D 56.18; as of 2026-11-13) X mentions: 4,650 (-7% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Debasement trade: gold and silver GLD, SLV, GDX, GDXJ, SIL, SILJ | Rolling over | consider trimming | Trend: -6.7% vs its 50-day and -13.0% vs its 200-day SMA Relative strength: RS 1m vs SPY -4.9 pts Flow: 1-month flow -$1530.00M Epstein: GLD close below 18-day middle band (367.69) = negative bias; close at lower 18-day 2-SD band (%B 0.09) (Bollinger Band 18,2 %B 0.09; stochastic 14,3,5 %K 19.25 / %D 55.0; as of 2026-11-13) X mentions: 7,424 (-5% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Critical minerals COPX, REMX | Rolling over | consider trimming | Trend: -14.8% vs its 50-day and -16.3% vs its 200-day SMA Relative strength: RS 1m vs SPY -12.1 pts Flow: 1-month flow -$247.37M Epstein: COPX close below 18-day middle band (73.43) = negative bias; close at lower 18-day 2-SD band (%B 0.05) (Bollinger Band 18,2 %B 0.05; stochastic 14,3,5 %K 23.14 / %D 34.53; as of 2026-11-13) X mentions: 1,359 (+14% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Rare earths REMX | Rolling over | consider trimming | Trend: -16.9% vs its 50-day and -38.6% vs its 200-day SMA Relative strength: RS 1m vs SPY -8.0 pts Flow: 1-month flow -$30.41M Epstein: REMX close below 18-day middle band (51.81) = negative bias; Bollinger squeeze (bandwidth 11.05%, 8.33 percentile of 120 days) (Bollinger Band 18,2 %B 0.19; stochastic 14,3,5 %K 38.26 / %D 52.08; as of 2026-11-13) X mentions: 889 (+10% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Copper and lithium COPX, LIT | Rolling over | consider trimming | Trend: -14.8% vs its 50-day and -16.3% vs its 200-day SMA Relative strength: RS 1m vs SPY -12.1 pts Flow: 1-month flow -$247.37M Epstein: COPX close below 18-day middle band (73.43) = negative bias; close at lower 18-day 2-SD band (%B 0.05) (Bollinger Band 18,2 %B 0.05; stochastic 14,3,5 %K 23.14 / %D 34.53; as of 2026-11-13) X mentions: 5,825 (-6% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Bitcoin IBIT | Rolling over | consider trimming | Trend: -14.4% vs its 50-day and -5.2% vs its 200-day SMA Relative strength: RS 1m vs SPY -14.2 pts Flow: 1-month flow -$1170.00M Epstein: IBIT close below 18-day middle band (43.9) = negative bias; close below lower 18-day 2-SD Bollinger Band; stochastic 14,3,5 embedded below 20 for 5 days (Bollinger Band 18,2 %B -0.06; stochastic 14,3,5 %K 9.77 / %D 10.14; as of 2026-11-13) X mentions: 84,995 (+19% change) Mood: -0.6 Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Ethereum ETHA | Rolling over | consider trimming | Trend: -20.5% vs its 50-day and -9.4% vs its 200-day SMA Relative strength: RS 1m vs SPY -18.3 pts Flow: 1-month flow -$1570.00M Epstein: ETHA close below 18-day middle band (50.89) = negative bias; close below lower 18-day 2-SD Bollinger Band; stochastic 14,3,5 embedded below 20 for 3 days (Bollinger Band 18,2 %B -0.01; stochastic 14,3,5 %K 9.97 / %D 9.69; as of 2026-11-13) X mentions: 32,686 (-2% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Solana BSOL | Rolling over | consider trimming | Trend: -23.0% vs its 50-day and -7.7% vs its 200-day SMA Relative strength: RS 1m vs SPY -22.2 pts Flow: 1-month flow -$107.48M Epstein: BSOL close below 18-day middle band (12.98) = negative bias; close at lower 18-day 2-SD band (%B 0.08); stochastic 14,3,5 embedded below 20 for 15 days (Bollinger Band 18,2 %B 0.08; stochastic 14,3,5 %K 7.65 / %D 6.94; as of 2026-11-13) X mentions: 84,716 (-5% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Hawkish Fed hold, inflation and jobs report TLT, IEF, KRE | Unclassified | watch | Trend: -1.0% vs its 50-day and -5.8% vs its 200-day SMA Relative strength: RS 1m vs SPY +1.5 pts Flow: 1-month flow -$3190.00M Epstein: TLT close below 18-day middle band (81.24) = negative bias; close below lower 18-day 2-SD Bollinger Band (Bollinger Band 18,2 %B -0.12; stochastic 14,3,5 %K 10.4 / %D 41.97; as of 2026-11-13) X mentions: 12,340 (-49% change) Mood: -0.6 Signal basis: TLT close at/below its 18-day SMA (no active cross) Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Rate-cut rotation IWM, ITB, ARKK | Unclassified | watch | Trend: -1.1% vs its 50-day and -0.7% vs its 200-day SMA Relative strength: RS 1m vs SPY +3.2 pts Flow: 1-month flow -$1940.00M Epstein: IWM close below 18-day middle band (278.91) = negative bias (Bollinger Band 18,2 %B 0.4; stochastic 14,3,5 %K 59.35 / %D 57.53; as of 2026-11-13) X mentions: 1,694 (-14% change) Mood: -0.5 Signal basis: IWM close at/below its 18-day SMA (no active cross) Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Big banks over regional banks KBWB, KBE | Basing | watch | Trend: -0.9% vs its 50-day and -0.8% vs its 200-day SMA Relative strength: RS 1m vs SPY -0.2 pts Flow: 1-month flow +$461.13M Epstein: KBWB close above 18-day middle band (89.07) = positive bias (Bollinger Band 18,2 %B 0.77; stochastic 14,3,5 %K 46.77 / %D 42.29; as of 2026-11-13) X mentions: 1,058 (-23% change) Mood: unknown Signal basis: see Stage Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Oil and the Iran war / Hormuz USO, XLE, XOP, OIH | Rolling over | consider trimming | Trend: -4.7% vs its 50-day and +14.0% vs its 200-day SMA Relative strength: RS 1m vs SPY -5.2 pts Flow: 1-month flow +$437.74M Epstein: USO close below 18-day middle band (155.55) = negative bias; stochastic 14,3,5 embedded below 20 for 4 days (Bollinger Band 18,2 %B 0.26; stochastic 14,3,5 %K 17.7 / %D 13.77; as of 2026-11-13) X mentions: 17,157 (-17% change) Mood: +0.0 Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| US midterms: policy, defense, data-center rules ITA, XAR, SHLD | Push up | consider buying | Trend: +1.6% vs its 50-day and -5.8% vs its 200-day SMA Relative strength: RS 1m vs SPY +5.9 pts Flow: 1-month flow -$285.91M Epstein: ITA close above 18-day middle band (70.26) = positive bias; %K crossed back under 80 (expect drift to middle band) (Bollinger Band 18,2 %B 0.68; stochastic 14,3,5 %K 79.15 / %D 76.76; as of 2026-11-13) X mentions: 18,863 (-24% change) Mood: -0.2 Signal basis: ITA close crossed above its 18-day SMA on 2026-11-09 (4 sessions ago), still above; Stage not Rolling over/Faded. Flow is informational only. Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Defense primes ITA, PPA | Push up | consider buying | Trend: +1.6% vs its 50-day and -5.8% vs its 200-day SMA Relative strength: RS 1m vs SPY +5.9 pts Flow: 1-month flow -$285.91M Epstein: ITA close above 18-day middle band (70.26) = positive bias; %K crossed back under 80 (expect drift to middle band) (Bollinger Band 18,2 %B 0.68; stochastic 14,3,5 %K 79.15 / %D 76.76; as of 2026-11-13) X mentions: 1,461 (-9% change) Mood: unknown Signal basis: ITA close crossed above its 18-day SMA on 2026-11-09 (4 sessions ago), still above; Stage not Rolling over/Faded. Flow is informational only. Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Defensive healthcare rotation XLV, IYH, VHT | Push up | consider buying | Trend: +7.9% vs its 50-day and +17.9% vs its 200-day SMA Relative strength: RS 1m vs SPY +8.8 pts Flow: 1-month flow +$1430.00M Epstein: XLV close above 18-day middle band (184.3) = positive bias (Bollinger Band 18,2 %B 0.8; stochastic 14,3,5 %K 75.23 / %D 70.92; as of 2026-11-13) X mentions: 934 (-6% change) Mood: unknown Signal basis: XLV close crossed above its 18-day SMA on 2026-10-09 (25 sessions ago), still above; Stage not Rolling over/Faded. Flow is informational only. Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| GLP-1 obesity drugs PPH, IBB | Push up | consider buying | Trend: +7.9% vs its 50-day and +12.9% vs its 200-day SMA Relative strength: RS 1m vs SPY +9.7 pts Flow: 1-month flow -$56.85M Epstein: PPH close above 18-day middle band (118.54) = positive bias (Bollinger Band 18,2 %B 0.87; stochastic 14,3,5 %K 84.74 / %D 76.87; as of 2026-11-13) X mentions: 3,001 (-25% change) Mood: unknown Signal basis: PPH close crossed above its 18-day SMA on 2026-10-14 (22 sessions ago), still above; Stage not Rolling over/Faded. Flow is informational only. Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Quality dividend and value SCHD | Push up | consider buying | Trend: +5.3% vs its 50-day and +10.5% vs its 200-day SMA Relative strength: RS 1m vs SPY +8.2 pts Flow: 1-month flow +$3570.00M Epstein: SCHD close above 18-day middle band (35.56) = positive bias (Bollinger Band 18,2 %B 0.85; stochastic 14,3,5 %K 77.43 / %D 64.68; as of 2026-11-13) X mentions: 581 (+9% change) Mood: unknown Signal basis: SCHD close crossed above its 18-day SMA on 2026-10-12 (24 sessions ago), still above; Stage not Rolling over/Faded. Flow is informational only. Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Staples, telecom and real estate outflows IYK, IYZ, IYR | Push up | consider buying | Trend: +7.2% vs its 50-day and +9.5% vs its 200-day SMA Relative strength: RS 1m vs SPY +8.0 pts Flow: 1-month flow -$226.78M Epstein: IYK close above 18-day middle band (78.32) = positive bias; close at upper 18-day 2-SD band (%B 0.95; no new longs, profit-take zone) (Bollinger Band 18,2 %B 0.95; stochastic 14,3,5 %K 76.85 / %D 66.24; as of 2026-11-13) X mentions: 412 (-5% change) Mood: unknown Signal basis: IYK close crossed above its 18-day SMA on 2026-10-08 (26 sessions ago), still above; Stage not Rolling over/Faded. Flow is informational only. Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Reshoring and automation RSHO, ARKQ | Rolling over | consider trimming | Trend: -8.3% vs its 50-day and -12.4% vs its 200-day SMA Relative strength: RS 1m vs SPY -4.5 pts Flow: 1-month flow -$22.21M Epstein: ARKQ close below 18-day middle band (110.9) = negative bias (Bollinger Band 18,2 %B 0.32; stochastic 14,3,5 %K 61.82 / %D 56.26; as of 2026-11-13) X mentions: 215 (+4% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| China tech de-risking CQQQ, KWEB | Unclassified | watch | Trend: -10.8% vs its 50-day and -21.9% vs its 200-day SMA Relative strength: RS 1m vs SPY -6.2 pts Flow: 1-month flow -$349.07M Epstein: CQQQ close below 18-day middle band (39.5) = negative bias (Bollinger Band 18,2 %B 0.2; stochastic 14,3,5 %K 41.99 / %D 55.0; as of 2026-11-13) X mentions: 13,637 (-2% change) Mood: unknown Signal basis: CQQQ close at/below its 18-day SMA (no active cross) Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
| Emerging markets excluding China, and Brazil EMXC, EWZ | Rolling over | consider trimming | Trend: -6.7% vs its 50-day and -3.2% vs its 200-day SMA Relative strength: RS 1m vs SPY -2.8 pts Flow: 1-month flow +$2190.00M Epstein: EMXC close below 18-day middle band (90.1) = negative bias (Bollinger Band 18,2 %B 0.43; stochastic 14,3,5 %K 59.93 / %D 46.0; as of 2026-11-13) X mentions: 650 (+0% change) Mood: unknown Signal basis: Stage Rolling over Status: PROVISIONAL; NO BUY WITHOUT RONEN APPROVAL; paper buys on hold until about 2026-11-19 |
Signal colors: watch · consider buying · consider trimming
AI Chips
Lead: SOXX. Bearish: chip selling spread beyond Nvidia on Friday 13 Nov; AMD -8.75% and Broadcom -5% with no company news (Stocktwits Daily Rip), Nvidia fell 13% on the week, its worst since April 2025, and CNBC reports its longest weekly losing streak since 2012; Technology was the worst sector (-2%). Hedgeye added AVGO back to its bearish trend list. Nvidia earnings are due Tuesday.
Software sector
Lead: IGV. Unknown mood: no evidenced sentiment judgment supplied.
AI Hyperscalers
Lead: AIHY. Mixed: Microsoft's 24-hour 365 outage drew criticism but MSFT closed +0.2%; Morgan Stanley's Lisa Shalett says AI infrastructure capex won't be derailed; OpenAI's round priced at $1.25T, below the $1.5T sought. AIHY +0.1%.
AI Optics
Lead: LYTE. Bearish price-led read: LYTE -7.4% on 13 Nov as the AI hardware complex sold off with chips; no optics-specific news found in the collected sources.
AI Memory
Lead: DRAM. Unknown mood: no evidenced sentiment judgment supplied.
Neocloud
Lead: NCLD. Bearish: NCLD -6.5% on 13 Nov; Bloomberg and CNBC frame Huang's ouster as raising questions about AI financing, the money machine that funds neocloud build-outs.
Cybersecurity
Lead: CIBR. Unknown mood: no evidenced sentiment judgment supplied.
Robotics and physical AI
Lead: BOTZ. Unknown mood: no evidenced sentiment judgment supplied.
Quantum computing
Lead: QTUM. Unknown mood: no evidenced sentiment judgment supplied.
AI Data-Center Power & Grid
Lead: AIPO. Unknown mood: no evidenced sentiment judgment supplied.
Nuclear and small modular reactors
Lead: NLR. Unknown mood: no evidenced sentiment judgment supplied.
Debasement trade: gold and silver
Lead: GLD. Unknown mood: no evidenced sentiment judgment supplied.
Critical minerals
Lead: COPX. Unknown mood: no evidenced sentiment judgment supplied.
Rare earths
Lead: REMX. Unknown mood: no evidenced sentiment judgment supplied.
Copper and lithium
Lead: COPX. Unknown mood: no evidenced sentiment judgment supplied.
Bitcoin
Lead: IBIT. Bearish: bitcoin slid below $69,000 (Daily Rip: through $68,000); MarketWatch warns of further selling as investors raise cash for the Anthropic IPO. IBIT -3.5%.
Ethereum
Lead: ETHA. Unknown mood: no evidenced sentiment judgment supplied.
Solana
Lead: BSOL. Unknown mood: no evidenced sentiment judgment supplied.
Hawkish Fed hold, inflation and jobs report
Lead: TLT. Hawkish/bearish for duration: October PPI +0.3% m/m, 6.5% y/y, highest in nearly four years; 10-year yield moved to 5.17%; BofA economists added a third Fed rate hike by March 2027; Bianco says a 25bp hike is now the 'dovish' option.
Rate-cut rotation
Lead: IWM. Bearish for the rate-cut trade: the hot PPI kept hike expectations alive and the dollar headed for its strongest week in over a month on expectations the Fed raises rates next month; IWM -0.3%.
Big banks over regional banks
Lead: KBWB. Unknown mood: no evidenced sentiment judgment supplied.
Oil and the Iran war / Hormuz
Lead: USO. Mixed: Brent climbed back above $96 on Iran tensions and a gas tanker mine hit in Hormuz, but the IEA says the market is returning to surplus as Gulf exports recover and Iraqi output hit a 2019 high.
US midterms: policy, defense, data-center rules
Lead: ITA. Mildly negative: Bloomberg cites Democrats' midterm victories alongside Nvidia turmoil as adding to AI-boom concerns; Trump said he was surprised Republicans didn't do better.
Defense primes
Lead: ITA. Unknown mood: no evidenced sentiment judgment supplied.
Defensive healthcare rotation
Lead: XLV. Unknown mood: no evidenced sentiment judgment supplied.
GLP-1 obesity drugs
Lead: PPH. Unknown mood: no evidenced sentiment judgment supplied.
Quality dividend and value
Lead: SCHD. Unknown mood: no evidenced sentiment judgment supplied.
Staples, telecom and real estate outflows
Lead: IYK. Unknown mood: no evidenced sentiment judgment supplied.
Reshoring and automation
Lead: ARKQ. Unknown mood: no evidenced sentiment judgment supplied.
China tech de-risking
Lead: CQQQ. Unknown mood: no evidenced sentiment judgment supplied.
Emerging markets excluding China, and Brazil
Lead: EMXC. Unknown mood: no evidenced sentiment judgment supplied.