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The Morning Dose

Morning Dose #372: Fading the Tech Relief Bounce – Monday 11/2/2026

Episode 3726:01

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Episode summary

A pre-market macro and scanner briefing for Monday, Nov 2, 2026, covering weak breadth data, a futures relief bounce tied to falling oil and yields, a split tape between energy/machinery strength and AI/crypto weakness, and trading action codes ahead of Apple and Palantir earnings plus midterm elections.

Key points

  • Market breadth is very weak (49.72% above 40-day MA, 109 bulls vs 741 bears), signaling a cautious regime despite a futures bounce.
  • Oil dropping below $100 and the 10-year yield easing to 4.91% fueled a relief rally, but internals haven't confirmed it.
  • Capital is rotating out of speculative AI/crypto names (semis down 7.3% Friday) into energy and machinery stocks with real demand.
  • Action codes for today: CRT (controlled risk taking - size down in AI-heavy portfolios) and T3A (think three days ahead - position for Apple/Palantir earnings and midterms).
  • Treat any morning gap-up as a counter-trend bounce to fade, not chase, until breadth internals actually confirm the move.

Ticker charts

CHRD

Open in app
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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 CHRD in WaveFinder.

Daily bars through Oct 30, 2026.

SEI

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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 SEI in WaveFinder.

Daily bars through Oct 30, 2026.

MSTR

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 MSTR in WaveFinder.

Daily bars through Oct 30, 2026.

SMCI

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 SMCI in WaveFinder.

Daily bars through Oct 30, 2026.

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