Market Misbehavior

11/02/2026

Is this still a healthy rotation, or are we watching a market top develop?

The S&P broke 7600, the VIX closed above 20, credit spreads are widening, and Nvidia broke its 200-day. But breadth is still surprisingly strong.

Latest episode of CHART THIS:

The S&P 500 has broken below the critical 7600 level, the VIX has c...

10/30/2026

The S&P just broke below 7,600, the VIX surged above 20, and Technology is getting crushed.

So when is a breakdown actually confirmed?

On today's Friday Mailbag, we dig into that plus Alphabet, head and shoulders patterns, 24 hour trading and MACD/PPO.

New CHART THIS 👇

The S&P 500 breaks below Dave's key 7,600 line in the sand as Techn...

10/30/2026

We'll probably see buyers come in for $GOOGL after a huge gap down. It's like having a Bed Bath & Beyond 20% off coupon for a great company!

Wait...

Never mind.

10/30/2026

failing to hold key "big round number" support at 80K. "Guilty until proven innocent" as we confirm a new distribution phase!

10/30/2026

Our "line in the sand" of $SPX 7600 is being actively tested today, following the whole "AI stocks can actually go down" thing. A break below 7600 unlocks downside target of 7300, a retest of the spring lows as well as the 200-day moving average.

10/30/2026

The AI trade is starting to look very different.

Alphabet, Intel and Amazon are getting hammered, while other areas of the market are quietly improving. Tonight on CHART THIS, I break down why investors are finally separating the AI winners from the losers.

The AI trade is entering a very different phase as investors begin ...

10/29/2026

Investors now have a 20% off coupon on Alphabet $GOOGL with today's earnings drop continuing a downtrend phase since early October. "It's down a lot" is never a good investment thesis IMO, but what if it's testing the March 2026 lows?

Dave's playbook: If there's an influx of willing buyers here, the price will show that!

10/29/2026

Semiconductors $SMH remain in "moving average limbo" below the 50-day MA but above the 200-day MA.

Dave's playbook:
$SMH > 580 = bullish 📈
$SMH < 510 = bearish 📉
$SMH between 510-580 = 😴

10/29/2026

continuing in a downtrend phase, remaining below the third (and final?) decelerating trendline. Trendlines aren't my go-to trading tool, but they can provide a fantastic visual representation of the pace of a decline... and any changes in that downtrend!

10/29/2026

$VIX continues to drift lower. Even with hyperscalers like $GOOGL dropping like a rock in a pool, low vol environment tells us options market is expecting limited disruption to the major indexes. Welcome to the "AI down and everything else up" market?