Power Hour

Power Hour #141: Small Caps Hold as Tech Bleeds – Monday 11/2/2026

Episode 1413:21

0:003:21

Episode summary

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.

Ticker charts

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 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.

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 Nov 2, 2026.

CAMT

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 CAMT in WaveFinder.

Daily bars through Nov 2, 2026.

TTE

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 TTE in WaveFinder.

Daily bars through Nov 2, 2026.

CIFR

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 CIFR in WaveFinder.

Daily bars through Nov 2, 2026.

RSPT

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 RSPT in WaveFinder.

Daily bars through Nov 2, 2026.

EW

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 EW in WaveFinder.

Daily bars through Nov 2, 2026.

BBW

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 BBW in WaveFinder.

Daily bars through Nov 2, 2026.

USO

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 USO in WaveFinder.

Daily bars through Nov 2, 2026.

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