Market report

Monday, November 2, 2026

← 2026-11-01 All days

The Hub's call

Made at 9:00 AM ET, after the 8:30 data

CHOPPY· low confidenceScored at the close.

Market consolidation persists as premarket risk-on sentiment tests recovery levels

Conflicting signals: weak futures and defensive trend versus resilient sector breadth and positive premarket risk-on sentiment.

The session remains choppy as markets digest earnings and election uncertainty. Expect consolidation until the 10:00 AM ISM Manufacturing PMI release provides clarity on economic momentum. Focus on sector leaders while avoiding volatility in earnings-day names.

Macro read: Lower yields and a weaker dollar provide a slight tailwind for equities, though futures remain pressured. VIX at 19.07 suggests continued caution.

The plan

If / then, and the levels it hangs on

IfSPY holds above 750.23 → Look for a test of the 761.33 resistance level.
IfQQQ fails to reclaim 690.49 → Expect a test of 683.08 support.

Index	Support	Pivot	Resistance	Prior low	Prior high
SPY	750.23	755.85	761.33	750.36	761.46
QQQ	683.08	690.86	698.26	683.45	698.63
IWM	276.59	279.65	282.39	276.91	282.71

Where money is moving

The Hub's sector and industry rotation ranks

Tailwinds

Energy — Leading sector with strong momentum and positive monthly performance.
Consumer Staples — Strong relative strength and momentum phase.
Healthcare — Entered top 3 sectors with strong relative strength.

Headwinds

Technology — Distribution phase with significant monthly underperformance.
Earnings-day tickers — High volatility often leads to false signals and poor risk-reward.
Tech breakouts — Sector is in distribution with poor relative strength.

Track record

Last 23 scored calls

74%

17 of 23 calls right

Bullish / bearish: 8/10

Neutral / choppy: 9/13

How it's scored: bullish is right when SPY closes up, bearish when it closes down, neutral or choppy when SPY closes within ±0.5%. Every call is shown, misses included.

Market breadth

Healthy2,417 US stocks · as of 11:25 AM ET

55% of stocks above their 50-day, 69% of movers up today, 73% of 52-week extremes are highs.

New highs vs new lows (52-week)95 / 3673%

Advancers vs decliners1,651 / 75869%

Up vs down from the open1,471 / 93161%

Up vs down on above-average volume (for the time of day)434 / 24364%

Up 4%+ vs down 4%+368 / 14372%

Above 20-day

65%

Above 50-day

55%

Above 200-day

54%

Stages (from the 50 and 200-day)

Basing 25%Advancing 32%Topping 19%Declining 24%

As posted on X (2)+

Premarket plan

8:15 AM ET

🌅 Premarket — Mon, Nov 2

$SPY 758.84 (+0.42%) R 759.52 / S 758.13 QQQ 695.36 (+0.70%) R 696.63 / S 694.62 IWM 280.98 (+0.59%) R 281.43 / S 280.69 Read: Risk on (avg +0.57%) Today: 10:00 ISM / PMI · Earnings AAPL, BRK.B, PLTR

9:00 plan

9:05 AM ET

☕ 9:00 Plan — Mon, Nov 2

$SPY 759.60 (+0.52%) QQQ 696.00 (+0.79%) IWM 281.40 (+0.74%) Hub bias: CHOPPY (low confidence) SPY R1 761.33 · S1 750.23 If SPY holds above 750.23 → Look for a test of the 761.33 resistance level.

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