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ETF and stock technical analysis the day after the rout: technology up 1.45%, semiconductors up 3.51%; AMD up 11.04%, IonQ up 23.42%, Airbnb up 11.67%, Opendoor down 21.79%. The S&P 500 turns to sell on the weekly. In Milan Nexi down 3.64%, Banco BPM down 3.17%.

· 26 min read
ETF and stock technical analysis: chip stocks rebound, AMD stock up 11.04% and Airbnb 11.67%, the S&P 500 turns to sell on the weekly; in Milan Nexi stock falls 3.64%
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Economic Observatory · The session

ETF and stock technical analysis: chip stocks rebound, AMD stock up 11.04% and Airbnb 11.67%, the S&P 500 turns to sell on the weekly; in Milan Nexi stock falls 3.64%

7 November 2026 AiTrading67 · Trade Desk Observatory Markets

On Friday 6 November the US market bought back part of what it had sold on Thursday, but only in technology. ETF technical analysis puts it in one line: the technology ETF XLK rose 1.45% and was the only US sector with a real gain, while consumer staples XLP lost 1.28% and financials XLF 0.59%. The rebound started in Asia: Taiwan restricted short selling to halt the chip slide, and in New York AMD stock gained 11.04% and the semiconductor ETF 3.51%.

In between came the data point that moves rates: the US economy added 165,000 jobs in October against 65,000 expected, with unemployment at 4.1% and wages above forecasts. The dollar rose, so did the ten-year yield, and the market trimmed its bets on rate cuts. The Dow closed lower while the Nasdaq rose: two markets in the same session. Among the gains on company news, Airbnb stock rose 11.67% on its results and a string of higher price targets.

Our measure: US equity volatility fell 9% on the day but is still 73% higher than four weeks ago, so our model's regime alert has switched off without the risk being cleared. The rebound was strongest in the most shorted names, quantum computing, space and data centres, which is the mark of short positions being closed in a hurry rather than long-term buying. And with the week closed, the S&P 500's weekly signal turned to sell after 29 weeks on buy.

Europe went the other way and paid for Thursday's US rout, which it had closed before seeing: the DAX ETF DAX fell 1.96%, with German insurers and carmakers sold. The Milan market closed lower with the banks: the FTSE MIB ETF down 0.78%, Nexi stock down 3.64% despite results above expectations. Over the week, though, Milan closed higher and New York lower.

The news that moved our instruments
📊
INSTRUMENTS
Only technology rebounds, no European sector closes higher

ETF technical analysis: technology up 1.45%, semiconductors up 3.51%; consumer staples down 1.28%, in Europe banks down 1.29% and autos down 1.53%

An ETF is a fund listed on an exchange that buys a whole basket of stocks in one go: following sector ETFs is the quickest way to see where money is moving. On Friday money went back into one sector only.

In the US XLK, the technology ETF, gained 1.45%, though it closed in the lower part of the day; SOXX, the semiconductor ETF, rose 3.51%, MAGS, the ETF on the seven tech giants, 1.02%, XLC, communications, 0.43%. The rest fell: XLP, consumer staples, down 1.28%, XLB, materials, down 0.73%, XLF, financials, down 0.59%, XLU, utilities, down 0.39%. GLD, the gold ETF, down 0.79% with a stronger dollar. Over the week technology lost 8.2% and energy XLE 12%.

In Europe no sector closed higher: EXV2, telecoms, down 1.55%, EXHG, autos, down 1.53%, EXH4, industrials, down 1.30%, EXV1, banks, down 1.29%. EXV3, technology, limited the damage at minus 0.27%; EXV4, healthcare, closed on its session high. Over the week European banks are still the strongest, up 3.7%.

The global ETF technical analysis, with every basket we follow one by one, is on the dedicated Market Pulse page.

How I read itThe technology rebound did not touch the model: XLK has been short since 12 October and is still up 10.21%, semiconductors 16.98%. The closed week brought two new sell signals: US energy and European technology. US defensives stay long: healthcare is up 23.64% since the May signal, consumer staples 2.81%.
US technology ETF short (G / P) · US communication services ETF short (G / P) · US industrials ETF short (G / P) · US consumer discretionary ETF long (G / P) · US energy ETF short (G / P) · US financials ETF long (G / P) · US health care ETF long (G / P) · US consumer staples ETF long (G / P) · US utilities ETF long (G / P) · US materials ETF long (G / P) · Magnificent Seven short (G / P) · gold ETF short (G / P) · semiconductor ETF short (G / P) · European banks ETF short (G / P) · European health care ETF long (G / P) · European utilities ETF long (G / P) · European technology ETF short (G / P) · European industrials ETF short (G / P) · European autos ETF short (G / P) · European telecoms ETF short (G / P) · S&P 500 short (G / P) · Invesco QQQ Trust short (G / P) · Russell 2000 ETF short (G / P) *
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⛏
COMMODITIES
Copper turns to sell on the weekly, oil ends the week down 13%

Commodities: WTI crude oil, gold, copper and TTF gas, with the day's, week's and month's change and our model's weekly and monthly signal

WTI crude oil: up 0.34% on the day, down 12.76% on the week, down 12.76% on the month. Weekly on buy since 20 July, 2.13% below the level; monthly on buy since March 2026.

Gold: down 0.43% on the day, up 5.03% on the week, up 5.03% on the month. Weekly on sell since 28 September, 2.33% below the level; monthly on sell since June 2026.

Copper: down 0.52% on the day, down 3.77% on the week, down 3.77% on the month. Weekly on buy since 13 April, 3.46% below the level; monthly on buy since March 2025. The current weekly candle is turning on sell, provisional until the close.

TTF gas: down 5.61% on the day, down 17.66% on the week, down 17.66% on the month. Weekly on buy since 13 July, 3.73% below the level; monthly on buy since January 2026.

How I read itThe story of the week is copper: with Friday's closed candle the weekly signal turned to sell, after a buy that started in April. European miners are the first to watch. Oil and European gas lost between 13% and 18% over the week on reports of a rapprochement between the United States and Iran, but their weekly signal stays on buy because of Monday's highs: for airlines and chemicals the wind is favourable, the signal not yet. Gold stays on sell.
US energy ETF short (G / P) · European oil and gas ETF short (G / P) · gold ETF short (G / P) · European basic resources ETF short (G / P) · US materials ETF long (G / P) · European utilities ETF long (G / P) *
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💻
ARTIFICIAL INTELLIGENCE
Semiconductor stocks and computing centres rebound, but the week stays heavy

AMD stock up 11.04%, Intel up 7.71%, TSMC up 6.33%, Marvell up 5.73%, Micron up 5.12%, Nvidia up 2.78%; IREN up 20.02%, TeraWulf up 12.80%

The rebound was born in Taipei: the authorities restricted short selling to stop the sector's slide, and the US session followed with an intensity in proportion to the previous day's damage. AMDShort up 11.04%, IntelShort up 7.71%, TSMCShort up 6.33%, which according to The Information is weighing a move into advanced memory, Astera LabsShort up 6.26%, Super MicroShort up 6.20%, MarvellShort up 5.73%, QualcommShort up 5.52%, MicronShort up 5.12%, ArmShort up 4.74%, Applied MaterialsShort up 4.22%; NvidiaShort up 2.78%, but it closed near the session low.

Computing centres bounced even harder: IRENShort up 20.02%, TeraWulfShort up 12.80% on results and revenue from its Anthropic build, NebiusShort up 7.58%, CoreWeaveShort up 6.28%. The power chain went with them: Quanta ServicesShort up 6.25%, EatonShort up 4.50%, Constellation EnergyShort up 4.30%, VertivShort up 3.47%, Bloom EnergyShort up 3.41%. But the problem has not gone away: a Democratic senator has asked for answers on fifteen data centre projects on federal land, and Microsoft is winding down its deal with Oracle to rent computing capacity.

The next test. According to Bloomberg's evening newsletter, the real event for the artificial intelligence trade is not the vote but Anthropic's stock market debut, expected within weeks: an HSBC strategist notes that little of Thursday's risk was actually cleared, because nobody had hedged before the vote.

How I read itAcross the whole chain the model has been short for weeks and the rebound changed nothing: Marvell is up 38.21%, CoreWeave 42.97%, Intel 37.36%, Astera Labs 25.84%, Micron 21.49%, IREN 19.82%, AMD 13.11%, Nvidia 11.53%. Constellation Energy turned to sell with Friday's closed candle. For anyone following ai trading, a rebound inside a weekly sell signal is normal, not a change of direction: next week's candle will tell.
Advanced Micro Devices short (G / P) · Intel short (G / P) · TSMC short (G / P) · Astera Labs short (G / P) · Super Micro Computer short (G / P) · Marvell Technology short (G / P) · QUALCOMM short (G / P) · Micron Technology short (G / P) · ARM short (G / P) · Applied Materials short (G / P) · NVIDIA short (G / P) · semiconductor ETF short (G / P) · IREN short (G / P) · TeraWulf short (G / P) · Nebius short (G / P) · CoreWeave short (G / P) · Quanta Services short (G / P) · Eaton short (G / P) · Constellation Energy short (G / P) · Vertiv short (G / P) · Bloom Energy short (G / P) *
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📊
EARNINGS
IonQ up 23%, Airbnb up 12%, space soars; Opendoor down 22%

IonQ stock up 23.42%, Airbnb up 11.67%, AppLovin up 9.86%, Hims & Hers up 8.06%, Moderna up 5.27%; Opendoor down 21.79%, Oscar Health down 7.63%, Expedia down 4.86%

IonQShort closed up 23.42% on its session high, the biggest move in our universe, with quarterly revenue up 336% and a higher annual outlook; RigettiShort rose 19.29% in sympathy, a few days before its own results. AirbnbLong up 11.67% on a string of higher targets after its results, AppLovinLong up 9.86% with revenue up 55%, Hims & HersShort up 8.06% on its deal with Eli Lilly for direct delivery of weight-loss drugs, ModernaLong up 5.27%, back to a quarterly profit.

Space stocks soared on the FAA's plan to ease rules for commercial flights: Intuitive MachinesShort up 21.46%, Virgin GalacticShort up 16.39%, Rocket LabShort up 15.39% on its high, Archer AviationShort up 14.73%. CloudflareShort up 9.91%, but closing near the session low. Down were OpendoorShort, minus 21.79% on a wider than expected loss, Oscar HealthLong down 7.63% on uncertainty over health subsidies, ExpediaShort down 4.86% and BookingShort down 4.77%, SalesforceShort down 3.94% after S&P cut its rating, IntuitLong down 3.76%.

How I read itAlmost all the big gains of the day came inside a weekly sell signal: Rocket Lab is short and up 51.79%, Intuitive Machines 24.78%, Rigetti 22.70%. These are among the most shorted names on the market, and their jump is position closing more than stock picking: a short-lived signal. On earnings the model was on the right side of Opendoor, short and up 69.09%, and Expedia, short and up 7.69%; Airbnb is long and up 10.45%, Moderna 75.15%. AppLovin turned to buy with Friday's closed candle.
IonQ short (G / P) · Rigetti Computing short (G / P) · Airbnb long (G / P) · AppLovin long (G / P) · Hims & Hers Health short (G / P) · Moderna long (G / P) · Opendoor Technologies short (G / P) · Oscar Health long (G / P) · Expedia short (G / P) · Booking short (G / P) · Salesforce short (G / P) · Intuit long (G / P) · Intuitive Machines short (G / P) · Virgin Galactic short (G / P) · Rocket Lab short (G / P) · Archer Aviation short (G / P) · Cloudflare short (G / P) *
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🇮🇹
ITALY
Banks pay for results and consolidation, Nexi is the worst of the index

Milan stock market: Nexi stock down 3.64%, Banco BPM down 3.17%, BPER down 2.70%, Leonardo down 2.60%, Unipol down 2.24%; Tenaris up 3.26%, DiaSorin up 2.48%, Buzzi up 1.75%, Amplifon up 1.70%

The Milan market closed down 0.9% while Wall Street rebounded. Nexi stockLong lost 3.64%, the worst in the main index, despite third-quarter results above expectations and confirmed guidance. Banks paid for results and consolidation talk: Banco BPMShort down 3.17%, with nine-month profit lower and the chief executive opening the door to Crédit Agricole, BPER BancaShort down 2.70%, UnipolShort down 2.24%, GeneraliLong down 1.86%, FinecoLong down 1.54%, Intesa SanpaoloShort down 1.40%; Monte dei PaschiShort down 0.51% with profit above expectations · under a public tender offer by Intesa Sanpaolo at €1.25 and 1.664 Intesa Sanpaolo shares per share: the price follows the offer, not the market. Defence fell on reports of a deal between the United States and Iran: Leonardo stockShort down 2.60%, AvioLong down 2.03%, FincantieriShort down 1.64%.

Higher were TenarisLong, up 3.26%, and DiaSorinLong, up 2.48%, both on their session high, BuzziLong up 1.75%, AmplifonLong up 1.70%, PirelliLong up 1.49%, STMicroelectronics stockShort up 1.46% with the chips. UniCreditShort reports on Sunday.

How I read itOn banks the AiTrading67 model is short almost everywhere and gained on Friday: Banco BPM is up 16.49%, Unipol 6.68%, BPER 4.38%. Generali and Fineco turned to buy with Friday's closed candle, on the day they fell: next week gives the confirmation. Among the longs DiaSorin is up 17.29%, Tenaris 8.07%, Buzzi 5.66%, Nexi 2.39% even after the drop; Leonardo stays short and up 9.08%.
Nexi long (G / P) · Banco BPM short (G / P) · BPER Banca short (G / P) · UNIPOL ASSICURAZIONI short (G / P) · Assicurazioni Generali long (G / P) · FinecoBank long (G / P) · Intesa Sanpaolo short (G / P) · Monte dei Paschi short (G / P) (under a public tender offer by Intesa Sanpaolo at €1.25 and 1.664 Intesa Sanpaolo shares) · Leonardo short (G / P) · Avio long (G / P) · Fincantieri short (G / P) · Tenaris long (G / P) · DiaSorin long (G / P) · Buzzi long (G / P) · Amplifon long (G / P) · Pirelli & C. long (G / P) · STMicroelectronics short (G / P) · UniCredit short (G / P) *
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🇪🇺
EUROPE
Frankfurt sells insurers and carmakers, London sells defensives

European stocks: Munich Re down 4.27%, Siemens down 3.51%, Rheinmetall down 3.42%, BASF down 3.23%, BMW down 3.23%, Allianz down 3.01%; British American Tobacco down 3.18%, National Grid down 2.80%

While New York bounced, Frankfurt sold. Munich ReLong down 4.27%, closing near the low, on a note warning of a tougher 2027 for European reinsurers; with it SiemensShort down 3.51%, BASFLong down 3.23%, BMWLong down 3.23%, Mercedes-BenzShort down 3.16%, Deutsche BankLong down 3.15%, AllianzLong down 3.01%, VolkswagenShort down 2.89%, SAPLong down 2.32%. Defence followed the Iran headlines: RheinmetallShort down 3.42%, BAE SystemsLong down 1.83%, ThalesShort down 1.29%.

London sold its defensives: British American TobaccoLong down 3.18%, London Stock ExchangeLong down 2.85%, National GridLong down 2.80%, CompassLong down 2.58%, RELXLong down 2.20%, ExperianLong down 2.17%. In Paris luxury slipped, LVMHLong down 2.36%, KeringShort down 1.79%.

How I read itMuch of Friday's selling hit long positions without denting the weekly signal: Munich Re is still up 19.15%, SAP 33.66%, Experian 7.96%. BMW, Deutsche Bank and LVMH turned to buy with Friday's closed candle, despite the day. European defence stays split: Rheinmetall short and up 17.96%, BAE Systems long and below its entry price.
Munich Re long (G / P) · Siemens short (G / P) · BASF long (G / P) · Bayerische Motoren Werke long (G / P) · Mercedes-Benz short (G / P) · Deutsche Bank long (G / P) · Allianz long (G / P) · Volkswagen AG Pref short (G / P) · SAP long (G / P) · British American Tobacco long (G / P) · London Stock Exchange long (G / P) · National Grid long (G / P) · Compass long (G / P) · RELX long (G / P) · Experian long (G / P) · LVMH long (G / P) · Kering short (G / P) · Rheinmetall short (G / P) · BAE Systems long (G / P) · Thales short (G / P) *
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📈
INDICES
The DAX and the CAC 40 turn to buy on the weekly, Milan stays short

European indices: the DAX ETF down 1.96%, the FTSE 100 ETF down 1.12%, the FTSE MIB ETF down 0.78%, the CAC 40 ETF down 0.73%

On Friday the DAXLong ETF lost 1.96%, the FTSE 100Long ETF 1.12%, the FTSE MIBShort ETF 0.78%, the CAC 40Long ETF 0.73%. Over the week, though, Europe did better than America: France up 2.4%, Milan up 1.1%, Germany flat, against minus 2.7% for the S&P 500. 75% of DAX companies sit above their 200-day average, against 33% of the whole German market.

With Friday's closed candle the model turned its weekly signal to buy on the DAX and the CAC 40. On the Italian basket the short holds: it is up 3.98%, on sell since 31 August, and the week's average of high, low and close stayed below the level, despite Wednesday's close above it.

How I read itTwo new buy signals on European indices in the week Wall Street turns to sell: it is the same split seen in the sectors, with Europe weighted towards banks and defensives and America towards technology. The Italian basket is the exception, short with all its profit-taking windows taken: its defence is the weekly level, 1.3% above the price.
FTSE 100 ETF long (G / P) · CAC 40 ETF long (G / P) · DAX ETF long (G / P) · FTSE MIB ETF short (G / P) *
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📈
OUR MODEL
This week's signals at the weekly close: Bayer and Enel lead, insurers slip

This week's new buy signals at Friday's close: the most important changes, before Monday's new group

The group of Friday 30 October counts 23 new buy signals, 15 of them tradable. It is an almost entirely defensive group, utilities, healthcare, insurers, and it came through the week of the US rout better than the market. Monday brings the new group; below are Friday's most important changes.

Instrument
Today's signal
Weekly confirmed
My reading
🇩🇪 BAYNLong
Bayer
BUY
week closed on 30/10
Friday's change
born with the 30/10 candle
Down 1.1% on Friday, but the week closes up 9.9%: the best of the group.
🇮🇹 ENELLong
Enel
conti il 12/11
BUY
week closed on 30/10
Friday's change
born with the 30/10 candle
Close on the session high after a low near minus 4%: the week closes up 4.0%.
🇩🇪 ALVLong
Allianz
conti il 12/11
SELL
week closed on 30/10
Friday's change
born with the 30/10 candle
Down 3.0% with German insurers, after the note on reinsurers.
🇺🇸 ABTLong
Abbott Laboratories
BUY
week closed on 30/10
Friday's change
born with the 30/10 candle
Down 3.2% with medical devices, close near the low.
🇺🇸 FDXLong
FedEx
SELL
week closed on 30/10
Friday's change
born with the 30/10 candle
Down 2.7% with transport, below the entry price.
🇺🇸 HONLong
Honeywell International
SELL
week closed on 30/10
Friday's change
born with the 30/10 candle
Up 2.0% and close near the high: back above the entry price after Thursday's rout.

Above the entry price, among others, Sanofi, Hera, Terna and Johnson & Johnson; below it, RTX and FedEx.

How I read itThe week of the rout was the first real test for a group born defensive, and the defensives held. Those in the middle suffered, industrials and defence. With the week closed the signals stand: Monday's group will show whether the model keeps looking for defensives.
Norwegian Cruise Line long (G / P) · Avio long (G / P) · Edison International long (G / P) · Bayer long (G / P) · Honeywell International long (G / P) · Buzzi long (G / P) · Danone long (G / P) · ENAV long (G / P) · Sanofi long (G / P) · Allianz long (G / P) · European utilities ETF long (G / P) · Enel long (G / P) · Hera long (G / P) · Terna long (G / P) · Abbott Laboratories long (G / P) · RTX long (G / P) · Pulmonx long (G / P) · SLB long (G / P) · Halliburton long (G / P) · FedEx long (G / P) · Vertex Pharmaceuticals long (G / P) · Johnson & Johnson long (G / P) *
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📅
CALENDAR
UniCredit on Sunday, Enel, Allianz and Applied Materials on Thursday

Upcoming earnings: UniCredit on Sunday 8 November, Barrick, Constellation Energy and Occidental on Monday 9, A2A, Inwit and CoreWeave on Tuesday 10, Hera and E.ON on Wednesday 11, Enel, Allianz and Applied Materials on Thursday 12

23 companies in our universe report between Sunday and Thursday, among those we follow most closely. On Sunday UniCreditShort; on Monday BarrickShort, Constellation EnergyShort, OccidentalShort and, after the US close, Take-TwoShort, Hims & HersShort and Rocket LabShort; on Tuesday A2ALong, InwitLong, CoreWeaveShort and PetrobrasShort; on Wednesday HeraLong, E.ONLong and PosteShort; on Thursday EnelLong, AllianzLong, Munich ReLong, SiemensShort, Applied MaterialsShort and CiscoShort.

Sunday 8 November

UniCredit Short

Monday 9 November

Barrick Mining Short

Constellation Energy Short

Occidental Petroleum Short

Take-Two Short

Hims & Hers Health Short

Rocket Lab Short

Tuesday 10 November

A2A Long

Banca Mediolanum Short

INWIT Long

Recordati Long · under a public tender offer by CVC and GBL at €53 per share: the price follows the offer, not the market

Telecom Italia Short

CoreWeave Short

Petroleo Brasileiro Short

Wednesday 11 November

Hera Long

E.ON Long

Poste Italiane Short

Thursday 12 November

Enel Long

Allianz Long

Munich Re Long

Siemens Short

Applied Materials Short

Cisco Systems Short

How I read itOur model goes into results on sell on 15 names out of 23. On Monday evening many US reports come out within the same few minutes, and several of those stocks already moved between 7% and 15% on Friday: they go into their results already repriced. CoreWeave, Applied Materials and Cisco are the first test for the data centre chain after the rout.
UniCredit short (G / P) · Barrick Mining short (G / P) · Constellation Energy short (G / P) · Occidental Petroleum short (G / P) · Take-Two short (G / P) · Hims & Hers Health short (G / P) · Rocket Lab short (G / P) · A2A long (G / P) · Banca Mediolanum short (G / P) · INWIT long (G / P) · Recordati long (G / P) (under a public tender offer by CVC and GBL at €53) · Telecom Italia short (G / P) · CoreWeave short (G / P) · Petroleo Brasileiro short (G / P) · Hera long (G / P) · E.ON long (G / P) · Poste Italiane short (G / P) · Enel long (G / P) · Allianz long (G / P) · Munich Re long (G / P) · Siemens short (G / P) · Applied Materials short (G / P) · Cisco Systems short (G / P) *
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📆
MACRO CALENDAR
US inflation on Tuesday, after jobs beat expectations

This week's economic calendar: China inflation and German trade balance on Monday 9 November, US inflation on Tuesday 10, UK GDP on Thursday 12, US producer prices on Friday 13

The macro events of the coming days that can move the indices, in Central European time. The heart of the week is Tuesday: US October inflation, the first after a jobs report far stronger than expected.

Monday 9 November

02:30 · China · China October inflation high impact

08:00 · Germany · German September trade balance high impact

Tuesday 10 November

04:00 · China · China October exports and imports high impact

14:30 · United States · US October inflation high impact

Thursday 12 November

08:00 · United Kingdom · UK third-quarter GDP, preliminary high impact

16:00 · United States · October existing home sales high impact

Friday 13 November

14:30 · United States · US October producer prices high impact

Further ahead, the central banks

Wednesday 18 November · Fed: minutes of the October meeting

Times are Central European. The calendar can change: central bank dates are those published by the banks themselves.

How I read itA macro release does not change the weekly signal, it tests it. Friday's jobs data has already lifted yields and trimmed rate-cut bets: inflation above forecasts on Tuesday would hit technology, the sector most sensitive to rates, in the week the S&P 500 turned to sell.
S&P 500 short (G / P) · Invesco QQQ Trust short (G / P) · Russell 2000 ETF short (G / P) · FTSE 100 ETF long (G / P) · DAX ETF long (G / P) · CAC 40 ETF long (G / P) · FTSE MIB ETF short (G / P) · US financials ETF long (G / P) *
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📈
UNITED STATES
SPY turns to sell on the weekly, QQQ bounces but stays short

SPY and QQQ technical analysis, the S&P 500 ETF and the Nasdaq 100 ETF: SPY up 0.31%, QQQ up 1.40%, but the week closes lower

SPYShort, the S&P 500 ETF, recovered only 0.31% and closed near the session low, 5.9% below its all-time high. The week closes down 2.7%, and with the closed candle the model's weekly signal turned to sell: the long that started in April closes up 8.2%, after taking all three profit-taking windows. The monthly signal stays on buy, 1.6% above its level.

QQQShort, the Nasdaq 100 ETF, gained 1.40%, but the week closes down 5.0% and the price stays 14.0% below its record and just under the monthly signal's level. The model's short is up 7.57%, with both targets taken. IWMShort, the Russell 2000 ETF, up 0.99%, short and up 7.55%.

How I read itThe Nasdaq 100 bounced more than the S&P 500 because it is half technology, while the broad index paid for financials and consumer staples. But the week says the opposite: the Nasdaq 100 lost almost twice as much. On QQQ the model has been short since 16 October and collected; on SPY it closed a 29-week long and is now on sell. For risk management in any swing trading strategy, the two references for next week are the weekly level of the S&P 500 short, 5.3% above, and the monthly one, 1.6% below.
S&P 500 short (G / P) · Invesco QQQ Trust short (G / P) · Russell 2000 ETF short (G / P) *
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The desk's take

The big picture: a rebound in technology, a week that flips the S&P 500

On Friday Wall Street bought back chips and computing centres after Thursday's rout, with Taiwan curbing short selling and a jobs report far stronger than expected. The rebound was broad in the most shorted names and narrow in the rest of the market. With the week closed the S&P 500's weekly signal turned to sell, while in Europe the DAX and the CAC 40 turned to buy. The model is short the Nasdaq 100 and the S&P 500, and short the Italian basket.

What you find here. If you are trying to understand how to manage risk in trading, with stops, break-even stops, trailing and the declaration of stops that have been taken out, or how to read chart patterns (double bottoms, Bollinger bands, the Ichimoku cloud, price action trading), this is the desk's trading journal: published every morning before the US premarket, with our model's position on every instrument mentioned.

Previous editions
6 November 2026Stock market crash today, ETF and stock technical analysis: Wall Street's worst session since 2020, AMD stock falls 17.26% and Nvidia 9.26%, AppLovin jumps 31.04%; in Milan STMicroelectronics stock drops 9.33%5 November 2026ETF and stock technical analysis: after the vote Microsoft stock jumps 6.68%, Eaton stock falls 9.86% and oil slides; UniCredit stock rises 5.47% in Milan4 November 2026ETF and stock technical analysis: Fiserv stock jumps 12.46%, Eaton gains 7.00% and the semiconductor ETF 2.50%; Ferrari stock rises 4.47% in Milan3 November 2026ETF and stock technical analysis: Buzzi stock rises 6.23% in Milan; Marvell stock slumps 12.72%, Oracle falls 8.76% and the energy ETF 3.96%2 November 2026ETF and stock technical analysis: the semiconductor ETF falls 8.24%, Intel stock plunges 28.58% and Reddit stock 29.22%; in Milan Amplifon stock loses 14.50%30 October 2026ETF and stock technical analysis: AI sends the bill to Alphabet and ServiceNow, Amazon stock drops 7% after hours; in Milan Prysmian rises 6.64% and Campari falls 6.64%View all editions on the tag page →

* Our system. The rows of names at the foot of each card carry our model's position, long or short. Position from the latest published weekly analysis. Levels, targets and the trading plan sit in each instrument's own page. The two letters in brackets lead to the instrument page (G) and the full analysis (P).

Disclaimer. The content on this page is published for educational and informational purposes and reflects the author's personal opinion and technical analysis. It does not constitute financial advice, an investment solicitation, or a personalised recommendation. Trading in financial instruments carries a high level of risk and may result in substantial loss of the capital invested. Every operating decision rests solely with the reader, who acts independently and in full awareness of that risk. AiTrading67 is not a broker or financial intermediary and is not affiliated with any broker or trading platform.
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