Next Day Prep

Next Day Prep #355: Oil Crash Triggers Massive Tech Rotation – Monday 11/2/2026

Episode 3555:46

0:005:46

Episode summary

A recap of a cautious market session where a 7.3% oil crash to $96.51 sparked institutional rotation out of AI/semis and into cyclical names like TOST and ABNB, even as the regime stayed cautious. The show previews tomorrow’s Apple earnings, midterm elections, and the critical QQQ 679.81 (200-day MA) pivot level.

Key points

  • Cautious regime held, but breadth improved with 53.8% of stocks above their 40-day SMA
  • Oil's 7.3% plunge to $96.51 triggered a violent rotation into cyclical and rate-sensitive stocks
  • TOST (+5.4%, closed 33.40) and ABNB (+4.1%, closed 171.16) fired strong continuation signals while AI/semis sold off
  • QQQ's 679.81 level (200-day MA) is the key 'load-bearing wall' to watch around Apple earnings and midterm election reactions
  • Use CRT (controlled risk taking) and T3A (think three days ahead) codes, size down, and stay defensively positioned with minimal tech exposure

Ticker charts

TOST

Open in app
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 TOST in WaveFinder.

Daily bars through Nov 2, 2026.

ABNB

Open in app
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 ABNB in WaveFinder.

Daily bars through Nov 2, 2026.

QQQ

Open in app
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 QQQ in WaveFinder.

Daily bars through Nov 2, 2026.

HD

Open in app
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 HD in WaveFinder.

Daily bars through Nov 2, 2026.

AMD

Open in app
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 AMD in WaveFinder.

Daily bars through Nov 2, 2026.

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