Below are highlights from the NDW Morning Update Video for the morning of 11/2/2026.
Below are highlights from the NDW Morning Update Video for the morning of 11/2/2026. Access the video on the NDW Morning Update Video page.
- Indices were mixed following Friday’s (10/30) trading with crude oil (CL/) leading the way to the upside, up 2%, pushing the default point and figure chart to a third buy signal with a triple top break at $104. Gold (GC/) fell below $4000, producing a double bottom break at 3980 for a fifth sell signal as the commodity fell down to 3880, marking the lowest level since in 12 months.
- Emerging markets were negative with the iShares MSCI Emerging Markets ETF (EEM) falling -2.68% Friday (10/30), leading the chart down below $61 to test the July 2026 chart low. Beyond current support for EEM, additional can be found at $55 and $53.
- U.S. equities were down Friday (10/30) with the Nasdaq-100 Index (NDX) leading the way to the downside at -3.46%, pushing the chart lower to give a second sell signal at 28800 as the index fell down to 28200, marking the lowest level since July. While most U.S. indices fell during Friday’s (10/30) and last week’s action, continuing lower in current columns of Os, only the Russell 1000 (RUI) and Nasdaq Composite (NASD) saw a switch to or an additional sell signal.
- Last week’s trading capped off with Domestic Equities overtaking International Equities for first within the DALI Asset Class Rankings. Much of the reason for the change has been due to weakness within the international space versus new superior strength emerging from domestic equities.
- Along with the midterm elections on Tuesday, November 3rd, there are just shy of 140+ stocks within the S&P 500 Index reporting earnings this week. Below are highlights from three reporting earnings on 11/2.
- Diamondback Energy (FANG) – Reports 11/2 – FANG improved to a 4 for 5’er after moving back into a positive trend mid-October. Last week’s trading kicked off with a third buy signal at $208 as shares rallied to $212, within one box of the all-time chart high at $216. Initial support can be found in the mid-$190s, while the bullish support line sits at $190.
- On Semiconductors (ON) – Reports 11/2 – ON fell to a 2 for 5’er in the latter stages of October with the market RS chart reversing down into Os. ON capped off last week’s trading returning to a sell signal with a triple bottom break at $71. Note resistance in the mid $80s, while support can be found in the mid to lower $60s.
- Palantir Technologies (PLTR) – Reports 11/2 – PLTR has been a 4 for 5’er since September and maintained a positive trend since August. October’s trading brought about an all-time high at $212 mid-month before last week’s trading saw the stock return to a sell signal with a double bottom break at $190 as shares fell to $182. Support for PLTR can be found at $174, the bullish support line, while additional can be found in the $166 to $170 range.
