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Daily technical analysis of the US and Europe stocks market lang-en

ETF and stock technical analysis in Wall Street's worst session since 2020: technology down 8.00%, industrials down 4.12%; AMD down 17.26%, Nvidia down 9.26%, Sandisk down 22.26%, AppLovin up 31.04%. In Milan STMicroelectronics down 9.33%, Enel up 0.92%.

· 25 min read
Stock 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%
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Economic Observatory · The session

Stock 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%

6 November 2026 AiTrading67 · Trade Desk Observatory Markets

The stock market crash today has a date and a cause: on Thursday 5 November Wall Street had its worst session since 2020. In twenty-four hours the market reversed its reading of the midterm vote: on Wednesday it sold the companies that build data centres and bought the ones that use them, on Thursday it sold the whole artificial intelligence theme. ETF technical analysis says it in one line: the technology ETF XLK lost 8.00%, the industrials ETF XLI 4.12%, and no US sector closed higher; semiconductor stocks lost 12.1%. On the Milan market, closed before the rout, STMicroelectronics stock fell 9.33%.

Two forces at once. One is political: the new Democratic Congress raises fears of rules on artificial intelligence and computing centres. The other is concrete: Microsoft announced a review of the data centre projects it considers risky on cost and delays. Chips paid the price, AMD stock down 17.26% and Nvidia stock down 9.26%, memory too, Sandisk down 22.26%, and the computing capacity providers. Only companies with news of their own went the other way: AppLovin stock up 31.04% on its results.

Our measure: US equity volatility rose 70% in one session and 90% over four weeks. That is the spike that triggers our model's regime alert, and it changes the reading of every signal born before it: in the coming days every new buy should be taken with caution. But the spike stayed in stocks: Treasury volatility rose only 4% and the US ten-year yield fell. The market repriced a theme, not growth.

This morning the rout spread to Asia: Tokyo lost about 6% and entered a bear market, ending its worst week since 1991, and Seoul had to halt trading on the size of the drop. US futures are mixed, government bonds are drawing safe-haven demand and Europe is expected lower: tonight's weekly close will show whether the stock market crash stays an episode.

In Europe, Milan closed before the US slide: the FTSE MIB ETF fell 1.22%, with STMicroelectronics stock down 9.33% and utilities higher. The week closes tonight, and that close decides the model's long on the S&P 500 and its short on the Italian basket.

The news that moved our instruments
📊
INSTRUMENTS
Technology down 8%, no US sector higher, Europe holds with utilities

ETF technical analysis: technology down 8.00%, industrials down 4.12%, consumer discretionary down 3.83%; communication services, utilities and staples hold

An ETF is an exchange-traded fund that buys a whole basket of stocks in one go: following sector ETFs is the fastest way to see where money is moving. On Thursday money left almost everything, and the ranking only says who lost the least.

In the US XLK, the technology ETF, lost 8.00%, closing on its low, XLI, industrials, 4.12%, XLY, consumer discretionary, 3.83%, XLF, financials, 2.87%, XLV, healthcare, 2.50%. Limiting the damage were XLC, communication services, down 0.59%, XLU, utilities, down 0.71%, and XLP, consumer staples, down 0.75%. MAGS, the ETF on the seven big tech names, fell 4.88%; GLD, the gold ETF, rose 0.81%.

In Europe, which closed before the slide, EXH9, the European utilities ETF, rose 0.92%, EXV4, healthcare, 0.21%, EXV1, banks, 0.10%; lower were EXV3, technology, down 3.16%, and EXH4, industrials, down 1.07%.

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

How I read itThe model was already on sell where the rout hit hardest: XLK has been short since 12 October and is up 11.50%, XLI 8.28%. The defensives are long and stay above their weekly levels: healthcare is up 23.71% since the May signal. On European technology and on energy the weekly candle in progress is turning to sell: tonight's close decides.
US technology ETF short (G / P) · US industrials ETF short (G / P) · US consumer discretionary ETF long (G / P) · US energy ETF long (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 communication services ETF short (G / P) · Magnificent Seven short (G / P) · gold 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 long (G / P) · European industrials ETF short (G / P) · S&P 500 long (G / P) · Invesco QQQ Trust short (G / P) · Russell 2000 ETF short (G / P) *
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⛏
COMMODITIES
Copper is turning to sell, oil rebounds

Commodities: WTI crude, 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 2.72% on the day, down 13.06% on the week, down 13.06% on the month. Weekly on buy since 20 July, 2.46% below the level; monthly on buy since March 2026.

Gold: up 0.69% on the day, up 5.49% on the week, up 5.49% on the month. Weekly on sell since 28 September, 1.91% below the level; monthly on sell since June 2026.

Copper: down 2.47% on the day, down 3.27% on the week, down 3.27% on the month. Weekly on buy since 13 April, 2.96% below the level; monthly on buy since March 2025. The current weekly candle is turning on sell, provisional until the close.

TTF gas: up 2.95% on the day, down 12.76% on the week, down 12.76% on the month. Weekly on buy since 13 July, 1.99% above the level; monthly on buy since January 2026.

How I read itThe new fact is copper: the weekly candle in progress is turning to sell after a buy born in April. It is provisional and tonight decides; if it holds, European miners are the first to watch. Oil rebounds after Wednesday's slump and its week is no longer turning to sell, but it is still down 13%: for airlines and chemicals it remains a favourable week. European gas stays on buy on the weekly; gold did not act as a safe haven, on a day when nobody looked for one.
US energy ETF long (G / P) · European oil and gas ETF long (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, memory and computing centres: the day of rejection

Sandisk stock down 22.26%, Micron down 17.46%, AMD down 17.26%, Marvell down 16.43%, Nvidia down 9.26%; IREN down 16.95%, Dell down 14.89%, Vertiv down 14.02%

The hardest blow landed on memory and chips: SandiskShort down 22.26%, MicronShort down 17.46%, Western DigitalShort down 17.35%, AMDShort down 17.26% despite a revenue outlook of 17 billion, MarvellShort down 16.43%, Applied MaterialsShort down 13.58%, ArmShort down 13.08%, TSMCShort down 10.78%, BroadcomShort down 10.43%, IntelShort down 10.33%, NvidiaShort down 9.26%, closing on its low. AMD's chief executive called the market's reaction short-sighted.

Behind the chips, the chain that sells and powers computing capacity. Microsoft said it is pulling back from its riskiest data centre projects, and the suppliers collapsed: IRENShort down 16.95%, NebiusShort down 14.94%, CoreWeaveShort down 9.83%, DellShort down 14.89%, VertivShort down 14.02%, Quanta ServicesShort down 12.30%, Bloom EnergyShort down 16.41%, GE VernovaShort down 7.48%, EatonShort down 7.38%. The big platforms held up better: MicrosoftLong down 3.58%, AppleLong down 1.53%, AmazonShort down 2.19%, AlphabetShort down 2.20%; TeslaLong fell 10.77% on fears that Congress will hinder Musk's businesses.

Why now. The vote redrew the permitting map. According to Cleanview data reported by Bloomberg, about 40% of the data centre capacity planned in the United States is due to be built in states where newly elected governors, in Ohio, Georgia, Michigan, New Mexico and Texas, have promised to stop or pause construction; Texas's governor-elect said she wants to halt it until safeguards are in place. On top of that come 46 local ballot measures that stall projects, at least 17 of them outright bans. Bloomberg Intelligence estimates that artificial intelligence infrastructure spending, expected at 1.4 trillion dollars, could fall 5-7% in 2027, and that up to 10 gigawatts of capacity may not come online on schedule. The worry about debt and the hundreds of billions being spent was already there: the vote gave it a political shape.

Analysts are split. For some it is a reset of growth expectations to more sustainable levels, with memory demand still above supply, and so an opportunity; for others it is the start of a longer stretch of volatility.

How I read itOn almost the whole chain the model had been on sell for weeks, and the session widened the gains: Western Digital up 50.35%, Marvell 41.56%, Intel 41.85%, CoreWeave 46.34%, Vertiv 44.02%, Sandisk 37.93%, Micron 25.31%, AMD 21.75%, Nvidia 13.92%. Microsoft stays long, up 15.32%. For anyone following ai trading, the lesson of the day is that artificial intelligence suppliers and data centre power suppliers now move as a single risk, and the client is the same: the spending plans of the big platforms.
Sandisk short (G / P) · Micron Technology short (G / P) · Western Digital short (G / P) · Advanced Micro Devices short (G / P) · Marvell Technology short (G / P) · Applied Materials short (G / P) · ARM short (G / P) · TSMC short (G / P) · Broadcom short (G / P) · Intel short (G / P) · NVIDIA short (G / P) · Texas Instruments long (G / P) · IREN short (G / P) · Nebius short (G / P) · CoreWeave short (G / P) · Dell Technologies short (G / P) · Vertiv short (G / P) · Quanta Services short (G / P) · Bloom Energy short (G / P) · GE Vernova short (G / P) · Eaton short (G / P) · Microsoft long (G / P) · Tesla long (G / P) · Apple long (G / P) · Meta Platforms short (G / P) · Alphabet short (G / P) · Amazon short (G / P) *
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EARNINGS
AppLovin up 31%, Unity up 15%, Toyota up 9%: the few gainers of the day

AppLovin stock up 31.04%, Unity up 14.93%, Toyota up 9.35%; Fastly down 26.88%, Dutch Bros down 21.41%, Snap down 14.02%, Expedia down 13.74%

In a session of broad selling the gains came only from company news. AppLovinShort closed up 31.04%, the best in our universe, on cash generation and an expanded buyback. UnityShort rose 14.93%, closing near its high, between results above expectations and reports of talks with Silver Lake and the Saudi sovereign fund to take the company over: until there is an offer, the price follows the rumours. ToyotaLong rose 9.35% on a raised annual forecast, thanks to currency and costs.

Lower after results were FastlyLong, down 26.88% on price target cuts, Dutch BrosShort down 21.41%, SnapLong down 14.02%, ExpediaShort down 13.74%. Enterprise software and cybersecurity followed the sector: Palo Alto NetworksShort down 9.59%, CrowdStrikeLong down 9.88%, PalantirLong down 9.73%. After the close AirbnbLong reported with a raised outlook and ConocoPhillipsLong with an 11% higher dividend; Oscar HealthLong returned to profit.

How I read itDutch Bros is short and up 34.79%, Palo Alto Networks up 17.31%, Toyota long and up 10.83%. CrowdStrike stays long, up 93.87% since last April, but this week's candle is turning to sell, as on Palantir, Fastly and Snap: tonight's close decides. On AppLovin and Unity, both short, the weekly candle is turning to buy: a jump on news opens a question that tonight's close has to settle.
AppLovin short (G / P) · Unity Software short (G / P) · Toyota Motor long (G / P) · Fastly long (G / P) · Snap long (G / P) · Expedia short (G / P) · Dutch Bros short (G / P) · Airbnb long (G / P) · ConocoPhillips long (G / P) · Oscar Health long (G / P) · Palo Alto Networks short (G / P) · CrowdStrike long (G / P) · Palantir Technologies long (G / P) *
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🇮🇹
ITALY
STMicroelectronics and the industrial chain weigh, utilities hold

Milan stock exchange: STMicroelectronics stock down 9.33%, Fincantieri down 4.77%, Stellantis down 4.49%, Prysmian down 4.02%, Buzzi down 3.88%; Tenaris up 3.66%, Amplifon up 2.76%, Campari up 2.15%, Enel up 0.92%

Milan closed down 1.0%, before the Wall Street slide. Selling followed the same chain as in the US: STMicroelectronics stockShort down 9.33% with semiconductors, FincantieriShort down 4.77% despite its agreement with Spain's Navantia, Stellantis stockShort down 4.49%, Prysmian stockShort down 4.02%, BuzziLong down 3.88% on nine-month results with guidance confirmed, Leonardo stockShort down 3.45% with European defence, BperShort down 2.77%, MonclerShort down 2.07%.

Defensives and a few names with their own story held: TenarisLong up 3.66%, AmplifonLong up 2.76%, FinecoShort up 2.43%, Campari stockLong up 2.15%, closing near its high, AzimutShort up 1.40%, GeneraliShort up 1.23%, TernaLong up 1.21%, Enel stockLong up 0.92%, A2ALong up 0.91%. Among banks UniCreditShort fell 1.46%, two days before its results; Monte dei PaschiShort fell 1.50% · 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; MediobancaShort fell 1.54% · under a public tender offer by Intesa Sanpaolo at a price not yet set per share: the price follows the offer, not the market.

How I read itThe long-running shorts on the industrial chain widened: Stellantis is up 32.65%, Prysmian 25.81%, STMicroelectronics 9.87%, Leonardo 6.65%. Among the longs Campari is up 14.48%, Enel 4.83%, Tenaris 4.67%, Buzzi 3.84% even after its results. On Moncler, Fineco and Generali the weekly candle in progress is turning to buy: tonight's close decides. At AiTrading67 we watch Milan by the week, not by the day, and this week ends tonight.
STMicroelectronics short (G / P) · Fincantieri short (G / P) · Stellantis Milano short (G / P) · Prysmian short (G / P) · Buzzi long (G / P) · Leonardo short (G / P) · BPER Banca short (G / P) · Moncler short (G / P) · Tenaris long (G / P) · Amplifon long (G / P) · FinecoBank short (G / P) · Davide Campari-Milano long (G / P) · Azimut short (G / P) · Assicurazioni Generali short (G / P) · Terna long (G / P) · Enel long (G / P) · A2A long (G / P) · UniCredit 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) · Mediobanca short (G / P) (under a public tender offer by Intesa Sanpaolo at a price not yet set) *
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🇪🇺
EUROPE
Rheinmetall slumps on results, utilities and pharma hold

European stocks: Rheinmetall down 16.14%, Infineon down 8.54%, BAE Systems down 5.41%, Siemens Energy down 4.70%; BASF up 3.30%, Bayer up 3.65%, Diageo up 3.17%, National Grid up 1.62%

In Europe the heaviest session was RheinmetallShort's, down 16.14%: solid quarterly growth but another cut to its revenue guidance on contract and testing delays. Defence went with it, BAE SystemsLong down 5.41%, and so did data centre technology, InfineonShort down 8.54%, Siemens EnergyShort down 4.70%, Schneider ElectricShort down 1.60%; Deutsche TelekomShort fell 2.09% despite raising its guidance.

On the other side, the defensives: BASFLong up 3.30%, BayerLong up 3.65%, DiageoLong up 3.17%, the best in the FTSE 100 on its quarterly update, National GridLong up 1.62% on half-year results and a raised outlook, UnileverLong up 1.24%, SAPLong up 0.68%. Siemens HealthineersLong closed at the high of its move on results day, after a lower open.

How I read itEuropean electrical engineering and German defence are short, and the session helped: Siemens Energy is up 27.96%, Infineon 27.82%, Schneider Electric 20.26%, Rheinmetall 15.05%. The defensives are long: SAP up 36.83%, Bayer 11.15%, AstraZeneca 9.50%, Siemens Healthineers 8.56%. It is the same map as our desk's candidates today: utilities, health and consumer staples.
Rheinmetall short (G / P) · Infineon Technologies short (G / P) · Siemens Energy short (G / P) · BAE Systems long (G / P) · Deutsche Telekom short (G / P) · Schneider Electric short (G / P) · Diageo long (G / P) · National Grid long (G / P) · BASF long (G / P) · Bayer long (G / P) · Unilever long (G / P) · Siemens Healthineers long (G / P) · SAP long (G / P) · AstraZeneca long (G / P) · Deutsche Bank short (G / P) *
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INDICES
Europe closes before the rout, Milan back below the short's level

European indices: the FTSE MIB ETF down 1.22%, the DAX ETF down 0.46%, the FTSE 100 ETF down 0.21%, the CAC 40 ETF up 0.19%

On Thursday the FTSE MIB ETFShort lost 1.22%, the DAXShort ETF 0.46%, the FTSE 100Long ETF 0.21%; the CAC 40Short ETF gained 0.19%. Europe closed before the US slide and still has to price it this morning. 75% of DAX companies are above their 200-day average, against 34% of the whole German market.

On the Italian basket the model's short is up 3.11%, on sell since 31 August, and the price is back 0.40% below the weekly level after rising above it on Wednesday. On the DAX and the CAC 40, both short, the weekly candle in progress is still turning to buy.

How I read itThe model's rule judges the average of the week's high, low and close: for the Italian basket that average is below the level, and turning the weekly would need a close tonight above about 52.66, 2% higher. After the US rout that is unlikely: the short, with every profit-taking window taken, reaches the close ahead. For the German and French indices the change is still in play.
FTSE 100 ETF long (G / P) · CAC 40 ETF short (G / P) · DAX ETF short (G / P) · FTSE MIB ETF short (G / P) *
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OUR MODEL
Friday's signals in their fourth session: Honeywell and RTX turn on the daily, Bayer rises

This week's new buy signals: the changes in the fourth session, with industrials and defence lower and utilities and Bayer higher

Last Friday's cohort counts 23 new buy signals, 15 of them actionable. It is an almost entirely defensive cohort, utilities, health, insurers, and on the day of the US rout it held up better than the market. Below are the most important changes.

Instrument
Daily signal
Weekly confirmed
My reading
🇺🇸 HONLong
Honeywell International
SELL
week closed 30/10
today's change
born with the 30/10 candle
Down 5.6% with US industrials, close near the low: the daily turns to sell, the weekly stays on buy.
🇺🇸 RTXLong
RTX
SELL
week closed 30/10
today's change
born with the 30/10 candle
Down 3.3% with defence: here too the daily turns to sell, below the entry price.
🇮🇹 BZULong
Buzzi
conti usciti il 5/11
BUY
week closed 30/10
today's change
born with the 30/10 candle
Down 3.9% on its nine-month results with guidance confirmed, alongside cables and industrials in Milan.
🇩🇪 BAYNLong
Bayer
BUY
week closed 30/10
today's change
born with the 30/10 candle
Up 3.7% on the day of the US rout, closing in the upper part of the range: the gain from entry keeps growing.
🇮🇹 ENELLong
Enel
conti il 12/11
BUY
week closed 30/10
today's change
born with the 30/10 candle
Up 0.9% with utilities, two cents from the monthly level.
🇮🇹 TRNLong
Terna
BUY
week closed 30/10
today's change
born with the 30/10 candle
Up 1.2% with European utilities, the strongest sector of the session.

Above entry, among others, Sanofi, Allianz, Abbott, Hera and Danone; below, besides Honeywell and RTX, SLB and Halliburton.

How I read itWith the regime alert on, a buy signal born a week ago needs a second reading: the backdrop it was born in is gone. Defensives hold, industrials and defence do not. Tonight's candle is the first real test for the whole cohort.
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
Moderna today, UniCredit on Sunday, Enel and Applied Materials on Thursday

Upcoming earnings: Moderna on Friday 6 November, UniCredit on Sunday 8, Barrick, Constellation Energy and Occidental on Monday 9, A2A, Inwit and CoreWeave on Tuesday 10, Enel, Applied Materials and Cisco on Thursday 12

15 companies in our universe report between today and Thursday, among those we follow most closely. Today ModernaLong; Sunday UniCreditShort; Monday BarrickShort, Constellation EnergyLong and OccidentalLong; Tuesday A2ALong, InwitLong and CoreWeaveShort; Thursday EnelLong, Applied MaterialsShort and CiscoShort.

Friday 6 November

Moderna Long

Sunday 8 November

UniCredit Short

Monday 9 November

Barrick Mining Short

Constellation Energy Long

Occidental Petroleum Long

Take-Two 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

CoreWeave Short

Wednesday 11 November

Hera Long

Thursday 12 November

Enel Long

Applied Materials Short

Cisco Systems Short

How I read itOur model reaches results on sell on 7 names out of 15. After Thursday, the results of CoreWeave, Applied Materials and Cisco are the first test for the data centre chain; UniCredit's, the first for Italian banks after a month of gains.
Moderna long (G / P) · UniCredit short (G / P) · Barrick Mining short (G / P) · Constellation Energy long (G / P) · Occidental Petroleum long (G / P) · Take-Two 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) · CoreWeave short (G / P) · Hera long (G / P) · Enel long (G / P) · Applied Materials short (G / P) · Cisco Systems short (G / P) *
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📆
MACRO CALENDAR
US payrolls today, inflation on Tuesday

This week's economic calendar: US payrolls and consumer sentiment on Friday 6 November, German trade balance on Monday 9, US inflation on Tuesday 10

The macro events of the coming days that can move the indices, in Central European time. Today US payrolls and consumer sentiment; on Tuesday October US inflation.

Friday 6 November

14:30 · United States · October payrolls and unemployment high impact

16:00 · United States · University of Michigan consumer sentiment, preliminary high impact

Monday 9 November

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

Tuesday 10 November

14:30 · United States · US October inflation 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. Today's payrolls arrive on the day the candle that decides the S&P 500 long closes: with volatility doubled, a surprise weighs more than usual.
S&P 500 long (G / P) · Invesco QQQ Trust short (G / P) · Russell 2000 ETF short (G / P) · FTSE 100 ETF long (G / P) · DAX ETF short (G / P) · CAC 40 ETF short (G / P) · FTSE MIB ETF short (G / P) · US financials ETF long (G / P) *
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📈
UNITED STATES
SPY below the long's level, QQQ closes on its low and the short takes its targets

SPY and QQQ technical analysis, the S&P 500 ETF and the Nasdaq 100 ETF: SPY down 4.41%, QQQ down 6.49%

SPYLong, the S&P 500 ETF, lost 4.41%, closing near its low, 6.2% below its all-time high. The daily turned to sell and the price fell 5.25% below the Reversal Point that judges the long born in April: the weekly candle in progress is turning to sell, and tonight's close decides. The long is still up 7.88%.

QQQShort, the Nasdaq 100 ETF, fell 6.49%, closing exactly on its low, 15.2% below its record. The model's short is up 8.84% and on Thursday it passed both its targets. IWMShort, the Russell 2000 ETF, fell 4.59%, short and up 8.46%. Only 73 of the 502 S&P 500 companies rose in the session.

How I read itThe Nasdaq 100 lost more than the S&P 500 because it carries half its weight in technology and almost nothing in defensives, which cushioned the broad index. On QQQ the model was already short and collected; on SPY it had been long for 30 weeks, with all three profit-taking windows taken long ago, and risk management now runs through the monthly level. In swing trading, that is the difference between a signal that anticipates and one that protects, and the core of any trading strategy built on weekly signals.
S&P 500 long (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: the day the market sold artificial intelligence

On Thursday Wall Street had its worst session since 2020: the midterm vote and Microsoft's data centre review drove selling in chips, memory, computing centres and their power chain. Equity volatility rose 70% and our model switched on its regime alert. Europe, closed earlier, held with utilities and pharma. The model is short the Nasdaq 100 and collecting, long the S&P 500 with its defence at stake tonight, 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
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%29 October 2026ETF and stock technical analysis: the Fed holds rates, Alphabet stock falls 10% after hours on results; in Milan Stellantis stock jumps 15.38%, Oracle 10.73%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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