NDW Morning Update Video – October 19, 2026.

• Indices were mixed Friday (10/16) with commodities leading the way to the upside and crude oil ([CL/]) up over 1%, pushing the chart up to test the bearish resistance line at $100.
• U.S. equity indices were negative with the Nasdaq-100 ([NDX]) and Nasdaq Composite ([NASD]) falling more than 2%. Intriguingly enough, while the Dow Jones Industrial Average ([.DJIA]) finished Friday (10/16) down 34 basis points, the index reversed back into Xs on its trend chart, climbing above the middle of the 10-week trading band. Other notable chart action from Friday (10/16) included the Russell 2000 Index ([RUT]) falling below notable near-term support at 2740 and the S&P 500 Index ([SPX]) reversing down into Os at 7650.
• Short-term indicators like the 10-week for the S&P 500 ([^TWSPX]) moved higher during last week’s trading session, highlighting stocks moving back above their 50-day moving average. Though seeing short-term indicator action higher, longer-term indicators like the RS Positive for the S&P 500 ([^RSPSPX]) have continued lower. The ^RSPSPX measures the percentage of stocks that maintain a long-term market RS buy signal and Friday’s (10/16) trading led the chart to fall to 44%, marking the lowest level since early 2001.
• Earnings continue this week with roughly a quarter of the S&P 100 ([OEX]) reporting. Notable highlights are below.
  • Netflix ([NFLX]) – Reports 10/20 – The stock has been a 0 for 5’er since June this year. On the trend chart, NFLX gave a sell signal in mid-September, and though a brief rally followed to kick off October’s trading, Friday’s session saw the chart reverse back into Os. From here, support like in the $66 to $67 range, and a drop into the mid-$60s would mark the lowest level since mid-2024. Note resistance in the lower $80s.
  • Meta Platform ([META]) – Reports 10/21 -  META improved to a 3 for 5’er in September after notable upside brought a positive trend change and the market and peer RS charts back to a column of Xs, highlighting positive near-term RS. Since rallying to near prior highs , October’s trading has seen consolidation within the $700 range. Friday’s (10/16) trading brought the stock back to a sell signal. Support resides at prior resistance in the $680 range, while the bullish support line sits at $600. Notable resistance has developed in the high $700 range, near prior highs.
  • Tesla ([TSLA]) – Reports 10/21 – TSLA increased to a 3 for 5’er after seeing the stock shift back into a positive trend earlier this month. Since then, the stock has moved lower, falling back down to test support in the $340 range. Beyond current support, additional can be found at $324 and $328. Near-term resistance lies in the $380 range, while additional can be seen in the lower $400s.