Chips pay AI’s bill: −6.72% in a day, and Huang admits the capital to finance it is scarce

RADAR PRO ELITE™ FINBEAR — October 23, 2026

📑 Table of Contents

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📌 Key Indicators Dashboard

Equity indices, VIX, dollar, gold, silver, crude, euro and crypto at the close on Thursday, October 22, 2026 (StockCharts/Yahoo Finance; gold on the December contract; crude on Thursday’s closing prices). Treasury yields: official U.S. Treasury data for October 22 compared with October 21. This morning’s values: Yahoo Finance, 8:45 a.m. Italian time.

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🧭 Compass of the Day

FINBEAR Compass™ · $SPX · Oct 22, 2026

  VERDICT           CONTESTED        — recent momentum doesn't take a side
  OPERATING REGIME  Moderate bull
  LINEARITY         Non-linear trends
  COHERENCE         MIXED
  RELIABILITY       SUSPENDED
  POSITION          in band          — below the underlying trend
  UNDERLYING TREND  Persistent bull  — solid

The Compass shows an S&P 500 that keeps a bullish operating regime inside a solid underlying trend, but coherence across horizons drops from full to mixed and the signal stays scattered: the trend can't be read with confidence and the Compass doesn't certify a direction. On the Nasdaq-100 the operating regime turns bearish and price slips below the underlying trend; on the Composite the regime is sideways. On semiconductors the Compass records a strong bear regime, with a scattered signal and price well below the underlying trend. The Dow is the only index where recent momentum confirms the bullish regime. The compass measures the same split the Pretore records in its signatures.

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📐 Yield Curve

U.S. Treasury Curve · Oct 22, 2026

  SHAPE       flat
  MOVEMENT    unchanged
  MACRO       normal

For the economy: the shape doesn't change because the 2-year and the 10-year fall by almost the same amount: that stretch of the curve shifts lower, while the very shortest maturities barely move. It's the mark of a flight to safety more than a change of scenario: the market trims its expectations of Fed hikes, but doesn't see a cut yet.

For banks: lower yields ease funding costs, and the relief matters more for regional lenders, as the next box shows.

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🏦 Banks: Large vs Regional

XLF · KBWB · KRE — sector under watch

• KBWB (large banks) — at 88.22 (+0.16%), inside the 87.74–88.43 zone, with resistance between 88.70 and 89.24: ordinary price state.
• KRE (regionals) — rises to 72.41 (+2.53%) and clears the 70.97–71.93 zone that had acted as resistance in recent sessions; it now sits right below the next resistance, between 72.42 and 73.24.
• XLF (sector) — at 56.65 (+1.09%), inside the 56.52–56.67 zone, with resistance between 56.91 and 57.13 and support between 55.89 and 56.18.

The roles reverse again from Wednesday, when yesterday's RADAR had the large banks in front: on Thursday the regionals lead. That fits a session in which yields fall hard and money leaves tech in search of sectors that don't depend on AI. The regionals clear the resistance flagged in yesterday's RADAR, but stop just below the next one.

Sector under watch — not consolidated. A reading, not a signal.

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🎯 Executive Summary

🎬 The day in one line

Semiconductors lost 6.72% and the Nasdaq 2.60%, the Dow finished flat and the 10-year fell back below 5%: the market sells the companies building AI and buys protection.

📉 The day: the bill reaches the suppliers

• Chips and debt-built clouds. AMD lost 8.10%, Intel 8.04%, Applied Materials 8.16%, Micron 6.26%, Nvidia 4.40%; CoreWeave more than 10%. Huang explained that the demand is there, but the capital is missing.
• Meta and Tesla. Meta lost 6.98% after its first negative free cash flow since 2012; Tesla 3.08%. Meta’s after-hours rally on Wednesday turns into a rout.

🏛️ The shelter: Treasuries yes, gold no

The 10-year fell 17 basis points to 4.96%, the 2-year 16 to 4.65%. Gold lost 2.16% and silver 4.63%. Nomura’s Charlie McElligott summed it up:

“US Treasury bonds are — gasp — working as your hedge again”

🛢️ Oil and defensives

Brent rose 4.00% to $113.17. Procter & Gamble gained 5.6% on an earnings beat, but raised its expected commodity and energy bill to $1.4 billion; Lockheed rose 7% after lifting its guidance.

⏳ The bottom line

🆕 The Nasdaq-100 closed below 29,190.35, the level that voided the October 20 thesis: the selective recovery turns into a correction. Good news is no longer enough: Meta, Western Digital and Bloom Energy beat estimates and fell; not even Moderna’s positive clinical data saved the stock.

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📊 News in Detail

🌐1. Chips pay AI’s bill: semiconductors −6.72%, Nasdaq −2.60%, the Pretore moves to short

What happened

✅ On Thursday, October 22, the semiconductor index lost 6.72% to 10,731.98, its steepest drop since June 23, leaving it more than 26% below its June 22 peak (Reuters via Yahoo Finance, StockCharts). ✅ The Nasdaq Composite fell 2.60% to 26,008.86, its worst session since early June; the Nasdaq-100 lost 2.90% to 28,958.69 and the S&P 500 1.21% to 7,663.43 (Reuters via Yahoo Finance, StockCharts). ✅ AMD lost 8.10%, Applied Materials 8.16%, Marvell 8.70%, Sandisk 8.51%, Micron 6.26% and Nvidia 4.40% (Upstox); Intel 8.04% (Yahoo Finance). ✅ Lam Research, after Wednesday evening’s earnings, was down as much as 10% before the open (Yahoo Finance). ✅ CoreWeave fell more than 10%, hitting its lowest since May 2025 (Invezz, Deutsche Bank via FXStreet).

✅ The same morning, in a CNBC interview, Jensen Huang called demand for AI-focused cloud providers’ services “off the charts”, but admitted that the capital to finance it is scarce (CNBC via Yahoo Finance). ✅ On Monday HSBC had reiterated its negative rating on CoreWeave, with a $39 price target and potential downside of 36.5% (Stocktwits).

The October 20 RADAR set the invalidation of its recovery thesis at an S&P 500 close below 7,623.15 or a Nasdaq-100 close below 29,190.35 by Friday, October 23: the Nasdaq-100 closed at 28,958.69, so that thesis is void. Yesterday’s RADAR read Wednesday’s rebound as fragile and set its invalidation at a semiconductor close above 11,629.35 with the Nasdaq-100 above 29,792.15: the closes at 10,731.98 and 28,958.69 confirm the thesis.

What sources say

“Because there’s just so much demand across so many sectors of AI, there’s a scarcity of capital.” — Jensen Huang, Nvidia (CNBC, via Yahoo Finance)

“Investors are starting to realize that there are some holes in the AI story” — Paul Nolte, Murphy & Sylvest (Reuters)

FINBEAR Take: the demand for AI is there, the money to pay for it isn’t

Until Wednesday the question was whether AI produced revenue. On Thursday the market changed the question: who pays for it? Huang’s answer, meant to reassure, had the opposite effect. If demand is off the charts and capital is scarce, the chain runs on credit, and credit shows up in prices: CoreWeave, which buys chips to rent out computing capacity, is at its lowest since May 2025, and Meta, the richest customer in the chain, has just closed a quarter spending more than it takes in.

The reaction was selective, not general. The biggest losers were the suppliers upstream: equipment, memory, processors. The Dow, whose only chipmaker is Nvidia, finished flat. It’s the same line yesterday’s RADAR saw emerging in overnight trading in Asia: the market hasn’t stopped believing in AI spending, but it’s starting to doubt that it can grow at the pace promised to the companies selling the tools.

Cui prodest? Those who cut their semiconductor positions during Wednesday’s rebound, and those holding Treasuries. The losers are the suppliers in the chain that depend on customers forced to borrow in order to buy.

Impact: 🔴🔴🔴🔴 (4/5) — Semiconductor crash, index signatures short, credit under pressure across the chain

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🏢2. Meta and Tesla: earnings beat, shares fall

What happened

✅ On Thursday Meta lost 6.98% to $648.85 (Upstox), the day after reporting third-quarter revenue of $64.60 billion (+26%), above the roughly $63.3 billion expected, and fourth-quarter guidance of $73 billion to $76 billion (Meta, press release; Newsquawk). ✅ Free cash flow for the quarter was −$2.12 billion, the first negative quarter since 2012, on capital spending of $34.9 billion (investingLive, Business Today). ✅ According to a regulatory filing, Meta has future AI-related spending commitments of about $825 billion, $121 billion of them due in 2027 (investingLive). 🔸 The spread on Meta’s five-year credit default swaps reportedly hit a record high (Business Today).

✅ Tesla lost 3.08% (Yahoo Finance), despite positive free cash flow of $1.53 billion and a cut in 2026 capital spending to about $20 billion (Electrek). Yesterday’s RADAR had Meta up between 1.5% and 3% after hours and Tesla down between 2% and 4%: the session reversed the first reaction and confirmed the second.

What sources say

“doesn’t generate enough cash to pay for its ambitions” — Adam Button, investingLive

FINBEAR Take: the richest customer finds the bottom of its wallet

On Wednesday evening the market looked at revenue; on Thursday it looked at cash. Meta’s advertising is booming, but a quarter of negative free cash flow and $825 billion of future commitments change the nature of the stock: from a machine that generates cash and hands it back to shareholders to a company that has to raise it. The new class of non-voting shares, announced as a de facto split, now reads as what Meta itself says it is: a tool to finance growth.

Tesla takes a different road and the market punishes it anyway: it cuts spending, generates cash, and loses 3%. Spending too much is a risk, spending less is a sign of slowing down: right now the market finds a reason to sell either way.

Cui prodest? The banks and bond investors who will lend Meta the money for its spending, on costlier terms than a month ago. The losers are shareholders used to buybacks.

Impact: 🔴🔴🔴 (3/5) — Meta −7% on its first negative free cash flow since 2012, Tesla −3%

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🌐3. Brent at $113, a five-month high: Houthi attacks and plans for Iran after the vote

What happened

✅ On Thursday Brent settled at $113.17 (+4.00%), a five-month high, and WTI at $99.47 (+2.39%) (HDFC Sky, StockCharts). ✅ Crude was driven by Houthi attacks on Saudi Arabia and its oil infrastructure, and by the New York Times report on U.S. and Israeli plans for new strikes on Iran after the midterm elections (Reuters via Business Recorder for the Houthi attacks; New York Times, via Invezz, for the Iran plans). ✅ According to Reuters, Saudi Aramco asked staff to evacuate its Dhahran headquarters (Reuters via Business Recorder). ✅ At 8:45 a.m. Italian time this morning Brent stands at $114.64 (+1.30%), WTI at $100.96 (+1.50%) (Yahoo Finance).

✅ Procter & Gamble now expects an after-tax earnings hit of about $1.4 billion from commodities, energy and freight, up from $1 billion, assuming Brent at $100; oil above $110 would add pressure (P&G, press release; earnings call transcript). Yesterday’s RADAR identified a risk premium that now has a calendar: on Thursday the market started paying it.

What sources say

“No de-escalation is anticipated until the US midterm elections, which should keep oil prices elevated.” — Tamas Varga, PVM Oil (Reuters, via Business Recorder)

FINBEAR Take: oil moves into corporate accounts

The risk premium no longer lives only in commodity markets: it’s moving into corporate accounts. Procter & Gamble built its guidance on Brent at $100, and Brent is already at 113. Every extra ten dollars is margin to be clawed back with price increases, and price increases are exactly what the Fed fears.

Analysts see no de-escalation before November 3, and the war calendar overlaps with the monetary one: the Fed decides on October 28, six days before the vote. With crude at these levels the market can trim its hike expectations, but it will struggle to start pricing a cut.

Cui prodest? U.S. crude producers, far from the Gulf and paid Gulf prices. Consumer goods makers and transport pay: on Thursday Procter & Gamble and Union Pacific already flagged the weight of fuel on their costs.

Impact: 🔴🔴🔴 (3/5) — Brent at $113, no room for Fed cuts · against the tide: crude producers favoured

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🏛️4. Treasuries are a haven again, gold isn’t: 10-year at 4.96%, gold below $4,000

What happened

✅ On Thursday the 10-year yield fell to 4.96% from 5.13% and the 2-year to 4.65% from 4.81% (U.S. Treasury). ✅ According to Reuters, the 10-year fell more than 19 basis points in the U.S. session, its steepest drop since March 2023 (Reuters via Business Standard). 📊 The implied probability of a December Fed hike fell to 85% (Reuters via Business Standard); for the October 27–28 meeting the market expects rates on hold (Investing.com). ✅ The target range for the federal funds rate is 3.75%–4.00% (Federal Reserve, via Yahoo Finance).

✅ Gold lost 2.16% to $4,060.40 on the December contract (StockCharts); overnight spot fell as low as 3,986.78, below $4,000 (StockCharts). ✅ Silver lost 4.63% to 54.76 (StockCharts). ✅ In the week to October 17 initial jobless claims fell to 194,000, from 200,000 the previous week (U.S. Department of Labor). ✅ Freddie Mac’s 30-year mortgage rate fell to 7.32% from 7.40% (Freddie Mac). Yesterday’s RADAR put the odds of a December hike at about 88% and noted that gold wasn’t working as a haven: on Thursday the odds fell and gold confirmed that reading.

What sources say

“US Treasury bonds are — gasp — working as your hedge again” — Charlie McElligott, Nomura (Reuters, via Business Standard)

“We’re minded to expect it to snap back above (5%)” — Padhraic Garvey, ING, on the 10-year (Reuters, via Business Standard)

FINBEAR Take: the shelter changes address

For months the 10-year rose alongside the fears: inflation, deficits, oil. On Thursday it went back to behaving like a haven. The selling in tech pushed money into Treasuries with a force not seen in more than three years, and the market priced out part of the hikes it expected. Gold, by contrast, fell on the same day, spot by almost 3%: with real yields still high and oil feeding inflation, holding an asset that pays no interest costs too much.

The picture is still contradictory, though. Jobless claims are near their lows, oil is rising and ING expects the 10-year to go back above 5%. The Fed can give up part of its hikes, but it has no reason to change direction.

Cui prodest? Holders of medium- and long-dated Treasuries, which on Thursday did what they’re bought for. The losers are gold and silver holders, left with a haven that didn’t protect.

Impact: 🟢🟢 (2/5) — Yields sharply lower, fewer hikes expected · against the tide: gold and silver penalised

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🌐5. Where the money leaving tech goes: Procter & Gamble, Lockheed, Spotify and a flat Dow

What happened

✅ Procter & Gamble rose 5.6% (Reuters via Yahoo Finance) after core earnings per share of $2.00, against $1.89 expected, revenue of $23.28 billion, against $22.82 billion expected, and organic sales up 4% (Investing.com transcript). ✅ The company confirmed its guidance for organic growth and earnings for the fiscal year, updated its total revenue guidance for the Thorne acquisition and put the after-tax hit from commodities, energy and freight at about $1.4 billion (P&G, press release filed with the SEC). ✅ Lockheed Martin rose 7.0% after raising its full-year revenue and earnings guidance; Spotify 11.1% on a fourth-quarter profit forecast above estimates; Blackstone 8.4%; Union Pacific 3.6%, even as it flagged the weight of fuel on its costs (Reuters via Yahoo Finance).

✅ Consumer staples, utilities and health care were the best sectors; communication services and tech the worst (Benzinga). ✅ The Dow finished up 0.02% at 52,867.98, held up by financials (HDFC Sky). ✅ Of the 111 S&P 500 companies that have reported, 83% beat estimates (LSEG, via Reuters). The October 21 RADAR identified money flowing out of tech and into the rest of the market and set the invalidation at a semiconductor close above 11,629.35 or a Dow close below 51,584.55: on Thursday neither level was touched and, after Wednesday’s pause, the rotation resumes.

What sources say

“there is no way to recover this level of commodity pressure without pricing” — Andre Schulten, Procter & Gamble CFO (earnings call, Investing.com transcript)

“The only part of the market that is really suffering here is technology” — Paul Nolte, Murphy & Sylvest (Reuters)

FINBEAR Take: the market isn’t fleeing, it’s moving house

Thursday wasn’t a day of general panic: the S&P 500 lost 1.21%, but the Dow finished flat and defensive sectors rose. Money isn’t leaving the stock market, it’s changing address: from AI suppliers to detergent, to missiles, to banks. Procter & Gamble is the emblem of the day: organic sales up 4% and the stock up 5.6%.

Yet Procter & Gamble itself warns that it will recover oil costs through price increases. That’s the flip side of the rotation: the stocks offering shelter from tech today are the same ones that will pass inflation on to the shelves tomorrow, and the Fed knows it.

Cui prodest? The managers who kept consumer staples and defense in their portfolios during the AI rally. Consumers pay, and will see the price increases announced by Procter & Gamble’s CFO.

Impact: 🟢🟢 (2/5) — Orderly rotation into defensives, flat Dow, earnings above estimates

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🌐6. Western Digital and Bloom Energy: estimates beaten, guidance above expectations, shares down

What happened

✅ Western Digital reported revenue of $4.38 billion (+55%), against $4.14 billion expected, and adjusted earnings per share of $4.64, against about $4.1 expected; for the current quarter it guides to revenue of $5.1 billion, about 12% above the $4.57 billion expected (Western Digital, press release; Investing.com via Yahoo Finance). ✅ The stock, which had closed the session down 6.43% at $354.19, rose about 4% after the results and then turned negative: it lost between 6% and 8% after hours, depending on the source and the time (Investing.com via Yahoo Finance, Benzinga, CappNotes).

✅ Bloom Energy reported revenue of $1.236 billion (+138%), against $1.07 billion expected, and adjusted earnings per share of $0.94, against $0.69 expected; it raised its 2026 revenue guidance to $4.4 billion to $4.6 billion (Bloom Energy, press release; Yahoo Finance). ✅ Free cash flow for the quarter was about −$180 million (Bloom Energy, press release). ✅ The stock, which had closed the session down 8.70%, lost between 3% and 7% after hours, depending on the source and the time (Yahoo Finance, TradingKey). Yesterday’s RADAR was waiting for Bloom’s results after Musk’s comments on power for data centers: the numbers are there, the reaction isn’t.

What sources say

“Fiscal 2027 is off to a strong start, with results exceeding expectations” — Irving Tan, Western Digital (press release)

“Electricity is the foundation of economic growth, human well-being and national competitiveness.” — KR Sridhar, Bloom Energy (press release)

FINBEAR Take: beating estimates doesn’t save you if you’re in the wrong supply chain

Two textbook quarters, two falling stocks. Western Digital grows 55% and guides to a quarter 12% above consensus; Bloom Energy more than doubles its revenue. The market sold them in the same storm that swept through the chips: both live on data center spending, and on Thursday that spending became the question of the day, not the answer.

In Bloom’s case there’s one more detail the market noticed: its growth burns more cash than it generates. It’s Meta’s ailment on a smaller scale. When the market doubts that the big customers can finance all the spending they’ve promised, even the suppliers’ best numbers read as a cost.

Cui prodest? Those who bought data storage and data center power months ago and sold during the rally, before the results. The losers are those who bought ahead of the results, convinced that beating estimates would be enough.

Impact: 🔴🔴 (2/5) — Results above estimates, but the data center supply chain gets sold anyway

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🌐7. Moderna: with Keytruda the vaccine cuts the risk of recurrence or death by 42%, the stock loses 17.57%

What happened

✅ On Thursday Moderna closed down 17.57% at $202.63 (Yahoo Finance); during the session it was down more than 25%, heading for the steepest one-day drop in its history and wiping out about $24 billion in market value (Reuters via Investing.com). ✅ The slide began with the early publication, on an oncology website, of results from a late-stage trial of the personalized melanoma vaccine developed with Merck, intismeran, in more than 1,100 patients; shortly afterward the two companies released the data (Reuters via Investing.com). ✅ Combined with Merck’s Keytruda, the vaccine cut the risk of recurrence or death by 42% compared with Keytruda alone, and the risk of distant metastasis or death by 38% (Reuters via Investing.com). ✅ Overall survival data are not yet mature; Merck lost almost 1% (Reuters via Investing.com).

What sources say

“solid data” — Michael Yee, UBS, on the recurrence-free survival results (Reuters, via Investing.com)

“compelling” — TD Cowen analysts, on the 42% cut in the risk of recurrence or death (Reuters, via Investing.com)

FINBEAR Take: the success was already in the price

It’s the purest case of the day. The data are good, analysts call them solid and compelling, and at one point during the session the stock loses more than a quarter of its value. The reason lies in the starting price: the market had already bought the success, and not even a result TD Cowen places in the exceptional range was enough to hold the stock up.

On Thursday the market did the same thing with Meta, with Western Digital, with Bloom Energy: it sold the good news. When that happens across such different sectors on the same day, it isn’t a problem with individual stocks, it’s the market’s mood.

Cui prodest? Those who sold the stock before the data, betting that expectations were too high. The losers are those who bought it as a bet on the result, not on the price.

Impact: 🔴🔴 (2/5) — Positive clinical data, a reaction of disappointment: a sign of excessive expectations

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📰 In Brief

• SpaceX wipes out Wednesday's rally. The stock lost 9.14% to $144.75, giving back more than it gained on Wednesday, the 7.79% recorded in yesterday's RADAR (Yahoo Finance). Anthropic could file its IPO prospectus publicly as early as today (Yahoo Finance).
• Bitcoin below the Pretore's threshold. Bitcoin lost 2.60% to $81,829.41, ether 2.66% to 2,404.98 (Yahoo Finance).
• Crypto lawsuit against Trump. A Circle shareholder has taken Trump and World Liberty Financial to federal court in Washington, accusing them of violating the Constitution's foreign emoluments clause (Benzinga, Bloomberg).
• Today's earnings and data. At 1 p.m. Italian time, results from American Express and SLB (company releases); at 3:45 p.m., S&P Global's flash U.S. PMI (S&P Global). At 9:30 a.m. Italian time Germany's flash composite PMI came in at 52.8, below the 53.3 expected (FXStreet).

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📊 Aggregated Sentiment Table

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🎭 Fear and Loathing on Wall Street™

⚪ Neutral — Index: -11

Registry comparison: the latest recorded reading is +18 (⚪ NEUTRAL, label FEAR UNDER COMPRESSION) on October 22, computed on Wednesday’s close. Since then volatility has risen (VIX 19.03, +14.09%), four index signatures have moved to short and the S&P 500 is back below its 50-day average.

Reading. The barometer drops from +18 to −11 in a single session, but stays in neutral territory, and fear keeps building up instead of venting: the pressure is released into just one part of the market. Tech gives way across the board, volatility rises, the Pretore moves to short; the Dow finishes flat, defensives rise and Treasuries provide shelter. It isn’t panic: it’s a market selling what it had bought with the most conviction and wondering whether AI can pay for itself.

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🔗 Cross-Cutting Synthesis

The thread of the day is who pays the bill for artificial intelligence. For months the market asked whether AI produced revenue; on Thursday it asked who finances it. Meta answers with a quarter of negative free cash flow and $825 billion of future commitments, Jensen Huang with the admission that capital is scarce, CoreWeave with its stock at its lowest since May 2025. The market didn’t like the answer, and the bill reached the suppliers: semiconductors lost 6.72%, the Nasdaq 2.60%.

The strongest signal of the day isn’t in the losses but in the reactions. Meta, Western Digital and Bloom Energy beat estimates and fell; Moderna released positive clinical data and fell anyway: when the market sells good news across such different sectors, the problem isn’t the numbers but the expectations already in the price. The news is positive, the reaction is negative, and the reaction says more.

The money leaving tech isn’t leaving the market. It goes into Procter & Gamble, defense, regional banks and above all Treasuries, which are protecting portfolios again in a way they haven’t for years. Gold, by contrast, drops below $4,000: with oil at $113 and the Fed still leaning toward a hike, a haven without a coupon costs too much. And the same oil that drives the rotation into defensives is moving into their accounts: Procter & Gamble will pass it on through prices.

The Pretore records the regime change: four index signatures move to short. The October 20 RADAR identified a selective tech recovery and set its invalidation at a Nasdaq-100 close below 29,190.35 by Friday, October 23: the Nasdaq-100 closed below that threshold, and the reading changes. The tech correction has resumed, and the early-week move was only a technical rebound. The October 21 and 22 theses, a rotation out of tech and a fragile rebound, are confirmed.

Cui prodest? Those who held Treasuries, consumer staples and defense while the market chased AI. The losers are those who bought the suppliers in the chain counting on demand and forgetting who had to pay for it.

📌 Thesis invalidation — This RADAR’s dominant thesis is: the market has entered a tech correction driven by doubts over the financing of AI spending, and is moving money into Treasuries and defensives; oil and the Fed rule out pricing a rate cut. Holds because: semiconductors lose 6.72% and the Nasdaq 2.60% while the Dow finishes flat; the S&P 500, Nasdaq-100, Composite and semiconductor signatures move to short; Meta reports its first negative free cash flow since 2012; the 10-year falls to 4.96%; Brent rises to $113.17. Invalidated if: the S&P 500 closes above 7,799.45 and the semiconductor index above 10,979.42, the levels that void their respective short signatures. By: the close on Wednesday, October 28, the day of the Fed decision. In that case: the FINBEAR reading shifts from a tech correction to a shake-out the market has absorbed.

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🚨 Strategic Alerts

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📜 Disclaimer & Maxim