Nothing stopping this train!

Always a secondary indicator but seasonality starts to flip positive into October.

If you were wondering why the breadth has been so bad this pictures sums it up ~ Extreme Concentration.

Yeah, so essentially every single $XLU stock is trading below the 5, 20, 50, & 200-DMA moving average. Ripe for a snap back.

Probably

$NVDA Don't lose sight of this base. Setting up nicely.

UMich 48.1 I believe that's the 2nd-worst in its history

📺 10-Year Above 5%: How Long Can Tech Ignore The Bond Market? Please ❤️like and 🔁share with fellow growth stock investors @ConnorJBates_ notes that the market continues to show a major disconnect between strong mega-cap tech leadership and deteriorating conditions underneath the surface. * On Thursday, we woke up to futures sharply lower as oil pushed higher again and the 10-year Treasury yield remained above 5%. That combination continues to pressure equities. But stocks staged a solid reversal into the close after reports of meaningful progress between the U.S. and Iran and the possibility of a phased reopening of the Strait. It’s another reminder that this remains an extremely headline-driven market. * The good news: the S&P 500 $SPY / $SPX and $QQQ continue to hold above their 50-day and 200-day moving averages. The S&P undercut and reclaimed support and is still holding above roughly 7,620. QQQ remains the best-acting index. It paused near the $748 high after several tech and semiconductor names became extended, but the pullback has been constructive. Semis reversed higher while holding above the 8- and 21-day moving averages. Mega-cap leadership remains excellent. $MAGS $META continues to look strong, and the big growth names are doing much of the work keeping the indexes intact. * But underneath the surface, things look much worse. $RSP made another new low. The Dow $DIA remains weak. Mid-caps $MDY are sitting near their 200-day moving average, while small-caps $IWM continue to print lower highs and is trying to stabilize around its 150-day and the psychological 2,800 level. Breadth has become extremely washed out: only 28% of S&P 500 stocks are above their 5-day moving average. That creates the possibility of an oversold bounce. RSP, mid-caps and small-caps are stretched enough that we could see a short-term recovery or wedge pop. * But the bond market remains the biggest warning. $TLT had another ugly day, while the 10-year yield continues to live above 5%. We really want to see yields move back below that threshold. If bonds continue breaking down and yields push higher, eventually even the strongest growth stocks may have difficulty ignoring tighter financial conditions. The dollar is another headwind. It is firmly back above 100 and challenging prior highs around 101.8. * Meanwhile, with strong US dollar, $GLD, $GDX and $SLV are weak, while $IBIT continues to show impressive relative strength, pulling back toward the 8-day EMA on light volume. $VIX remains below 16 – one encouraging signal. Despite geopolitical uncertainty, rising yields, strong oil and terrible breadth, we still aren't seeing panic. * So the market remains caught between two very different messages: mega-cap tech says risk-on while bonds and breadth say be careful. * For now, $QQQ leadership is keeping the market together. But with the 10-year above 5%, $TLT breaking down and participation narrowing, the question is how long tech can continue carrying the load. Watch 10-year yields, S&P 7,620, QQQ $748 and whether breadth finally starts to recover. * Watch this Short video where @ConnorJBates_ breaks it all down in detail 🔽

$NYHL Yesterday was the worst reading of the year for the NYSE New Highs - New Lows.

Crazy that the $NYSI is nearing April 2025 lows!

Another crazy stat!

$AKAM Akamai signs $11.6 bln seven-year cloud deal with Anthropic

Druckenmiller on Soros: “He’s the best loss taker I’ve ever seen. He doesn’t care whether he wins or loses a trade. If a trade doesn’t work, he’s confident enough about his ability to win on other trades that he can easily walk away from a loss.” This is where you want to be.

Highest net negative reading in 17 months (Apr ‘25) and 13th straight net negative reading.

RT @RevereAsset: REVERE DAILY MARKET INSIGHT VIDEO (9-24-2026): BY @ConnorJBates_ IRAN HEADLINE SPARKS INTRADAY REVERSAL AFTER GAP DO…

Interest rates alone cannot bring down a secular bull market. October 1990 - May 2000 (+417%) had the 10-yr at or above 5% for 95.5% of days.

Multi year lows for Small Caps $IWM vs. $QQQ