Power Hour

Power Hour #139: Tech Drops as Small Caps Lead – Thursday 10/29/2026

Episode 1393:18

0:003:18

Episode summary

A rotation day saw tech and communication services fade while utilities, materials, and small caps led broadening breadth. SPY clings to its SMA50 near $767.58 as earnings winners like WCC, KIM, and VICI raise guidance. Favor defensive leaders and confirmed breakouts like FCN into the close.

Key points

  • The regime is holding: bull-leaning with a defensive tilt, described as rotation, not liquidation.
  • 72% of stocks are above their 20-day moving average, showing broadening participation.
  • IWM is up 0.59% while QQQ is down 1.83% and below its 20 and 50 SMAs.
  • Cut BWA and HLN on negative signals and lost support; avoid bottom-fishing SCI until a reversal confirms.
  • Watch for IWM to push through its 20-day high of 285.26 to confirm small cap rotation.

Ticker charts

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 Oct 29, 2026.

IWM

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 IWM in WaveFinder.

Daily bars through Oct 29, 2026.

SPY

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 SPY in WaveFinder.

Daily bars through Oct 29, 2026.

BWA

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 BWA in WaveFinder.

Daily bars through Oct 29, 2026.

HLN

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 HLN in WaveFinder.

Daily bars through Oct 29, 2026.

FCN

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 FCN in WaveFinder.

Daily bars through Oct 29, 2026.

SCI

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 SCI in WaveFinder.

Daily bars through Oct 29, 2026.

WCC

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 WCC in WaveFinder.

Daily bars through Oct 29, 2026.

DE

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 DE in WaveFinder.

Daily bars through Oct 29, 2026.

CSL

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 CSL in WaveFinder.

Daily bars through Oct 29, 2026.

KIM

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 KIM in WaveFinder.

Daily bars through Oct 29, 2026.

VICI

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 VICI in WaveFinder.

Daily bars through Oct 29, 2026.

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