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A rapid-fire market recap for November 2, 2026, contrasting weak headline indices with improving market breadth. The hosts review which sectors to hold versus cut, specific entry setups for EW and IWM, and overnight catalysts like crude oil ahead of tomorrow’s open.
Key points
Market breadth improved (+10.3 pts to 60.04% participation) even as SPY and QQQ fell, signaling a constructive but defensive, choppy tape.
Small caps (IWM) held green while mega-cap tech lagged, showing rotation into safe-haven sectors like utilities, staples, and materials.
Cut growth/semis exposure (CAMT, TTE, CIFR) and reduce tech beta as RSPT dropped -2.45%.
Watch EW for a close above 9270 confirmed by 2.3x relative volume, and BBW as a continuation play holding +7%.
Tomorrow's setup hinges on crude oil (USO at 158.35) and IWM breaking above the 283.87 50-day SMA for a new small-cap rotation leg.
See SPY 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 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 IWM 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 IWM in WaveFinder.
See CAMT 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 CAMT in WaveFinder.
See TTE 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 TTE in WaveFinder.
See CIFR 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 CIFR in WaveFinder.
See RSPT 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 RSPT in WaveFinder.
See EW 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 EW in WaveFinder.
See BBW 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 BBW in WaveFinder.
See USO 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 USO in WaveFinder.