π Global market breadth is deteriorating even as major indexes sit near all-time highs.
π΄ % of stocks below the 200-day MA
π΅ % of stocks below the 50-day MA
The divergence is getting harder to ignore. Under the surface, things look a bit shaky. π
π¨ JUST IN: Russia says its forces struck a tanker in the Black Sea, according to Interfax.
The incident adds another layer of risk around Black Sea shipping and regional security. πβ οΈ
π FLOW ALERT π
$IBIT just saw a $1.6M call purchase with a Dec. 18, 2026 expiry.
Current price: $47.58
A sizable long-dated options position putting fresh attention on $IBIT. π
π $IREN is reclaiming all key moving averages.
The chart is now pushing back toward the upper end of its channel, with $67 as the next major level to watch.
The longer-term technical structure remains bullish. π
πΊπΈ Mortgage rates are back near 7%.
The U.S. 30-year fixed mortgage rate rose to 6.95%, its highest level since January 2025, according to Freddie Mac.
Higher borrowing costs keep pressure on housing affordability and demand. π π
π¨ $META Connect 2026 is today at 7 PM ET.
Mark Zuckerberg is expected to highlight next-gen glasses, Project Phoenix, Muse AI updates, HorizonOS and Metaβs broader AI strategy.
Wearables + AI remain the key themes to watch tonight. π
The yenβs long-term decline remains striking
USD/JPY has moved sharply higher over the past 14 years, despite Japan spending more than $260B and raising rates to support the currency
Even coordinated intervention hasnβt reversed the broader trend
Theyen remains a key macro risk
π§ AI agents may be entering a new memory cycle.
The smarter agents become, the more context they need to retain β from individual memory today to shared memory across entire agent fleets over time.
That could drive a major increase in memory demand.
$MU $SKHY $DRAM $SNDK
$AAPL is working on a new wave of wearable devices
Apple has reportedly been developing a screenless device for several months, while also working on a new fitness tracker aimed at competing with WHOOP, according to Bloomberg.
Another expansion of Appleβs wearable ecosystemπ
π¨ $1.1M just went into $META $925 calls expiring in November.
Thatβs a sizable options position targeting a major upside move in the months ahead.
Large premium flows like this are worth keeping on the radar. π
π¨ Berkshire is putting more cash to work.
$BRK.B bought another $212M of $LEN over just three days at an average price of $77.40.
With housing under pressure from high mortgage rates, the move stands out as a notable bet on weakness in the sector. π
Iranβs economic pressure is deepening as crude exports remain constrained, according to Kyodo.
Reports suggest some within the leadership are pushing to resume talks with the US, with conditions potentially eased depending on Washingtonβs response
π¨ The market may be underestimating one critical bottleneck: storage.
As supply and demand scale across the energy and AI infrastructure markets, available storage capacity could become increasingly valuable.
Storage is becoming a theme worth watching closely.
ethereum:0xc56c7a0eaa804f854b536a5f3d5f49d2ec4b12b8 jumps 3% after hours after CEO Ryan Cohen bought $26.4M worth of shares.
A sizable insider purchase that immediately caught the marketβs attention.π°
Cohen is putting fresh capital behind the stock.
JUST IN: More than $1 TRILLION was added to U.S. stocks today.
Thatβs an extraordinary amount of market value created in a single session.
Risk appetite is clearly strong across equities.
US-China trade talks remain in focus.
The US has proposed extending the China trade truce by six months, while Beijing is pushing for a longer extension, according to The New York Times
Trade policy remains a key market catalyst
$NVDA: 4-year-old H100s are getting MORE expensive.
VESSL AI raised H100 rates 24.7% to $2.98/hr. Ornn rates jumped 21.9% in a month.
Demand is spilling backward as new GPUs struggle to keep up.
The AI compute bottleneck isnβt just Rubin. Itβs H100s too.
Good morning, X. βοΈ
New week. New setups. New opportunities.
Eyes on the market, levels, and risk.
Stay disciplined and trade with a plan. π
Have a great week ahead.
When I find an AI materials stock, I donβt start with P/E.
I ask 5 things:
Whatβs driving demand?
Is the product moving upmarket?
Can supply scale?
Can higher costs be passed on?
Whatβs the EPS impact?
Only then do I think about valuation.
Are you looking at the same things? π