10/31/25 Recap

The SPY remains in a holding pattern here over the 8 ema, nothing new to report, this is a clear uptrend until we lose that 21 ema. All the megacap reports except NVDA are done and now I don’t even know what our next batch of catalysts are at this point. Lots of rumors swirling that we may get a deal on the Government re-opening over the weekend as well.

The VIX today is sending a bit of a warning signal with its action in this green tape so that is the 1 thing I’d say is a slight concern to me right now and the weekly chart is putting in a terrible candle right now. This is a gravestone candle if we close here, you can take a guess on why it is called that. Let’s see how we close today before discussing that though but we are very extended, nearly 10% away from the 21 week. I’d say its definitely time to be cautious now, we got the megacap reports, they were strong but the reaction isn’t exactly the most bullish at the moment.

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