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A mid-session market check on Thursday, November 5th, 2026, where the market regime flipped from very bullish to extreme bearish in one morning. Breadth collapsed, SPY and QQQ fell sharply, and money rotated into consumer staples while inverse products dominated continuation signals. The hosts advise an aggressively bearish afternoon bias and name key SPY and...
Key points
The percentage of stocks above their 20 SMA fell 42 points to 53%, and SPY dropped 3.56% to $739.53 while QQQ fell 5.39%.
Technology fell 5.97% while consumer staples was a relative hideout, down only 0.8%.
Inverse products dominate continuation signals, with TES up 20.0% on 1.7 relative volume, and new entries lean negative.
Afternoon bias should be aggressively bearish: cut position size sharply on any longs and favor staples and earnings-strength names.
Watch SPY's 20-day low at 737.11 and its SMA-200 at 738.18; QQQ has already lost its SMA-200.
See SPY in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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SMAUp (filled)Down (hollow)
Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open SPY in WaveFinder.
See QQQ in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open QQQ in WaveFinder.
See PWR in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open PWR in WaveFinder.
See RGLD in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open RGLD in WaveFinder.
See BSY in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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Use left and right arrows to move through history, plus and minus to zoom, ] and [ to open the next and previous event, Escape to close its card, Enter to open BSY in WaveFinder.
See LIME in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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See JMKE in WaveFinder. Sign in with your email, and new accounts are free and take about 30 seconds.
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