Friday's half-hearted bounce fails to signal that this decline has run its course

In this November 2026 technical video, Mark L. Newton, CMT, analyzes the stock market outlook this week following the early-November election results and a sharp selloff in major U.S. indices. He reviews the late-week price action in the S&P 500 Index (SPX) and Invesco QQQ Trust (QQQ), focusing on wave structure, breadth, volume, and momentum indicators, and discusses what types of capitulation and reversal signals he is monitoring into mid-November. Newton also highlights the role of seasonal patterns, options expiration, and cross-asset volatility in shaping the near-term trading backdrop.

The video details Newton’s DeMark-based and price-pattern work on Nvidia (NVDA) stock ahead of its November earnings report, and how that setup may intersect with a potential Anthropic IPO for the broader Technology sector. He also examines sector rotation, emphasizing four U.S. sectors that recently hit key resistance at early-year peaks, and contrasts this with emerging technical developments in Chinese and Indian equities via ETFs such as iShares China Large-Cap (FXI) and iShares MSCI India (INDA). The full report provides Newton’s charts, specific technical levels under review, and his tactical view on how these factors could influence market behavior over the next couple of weeks.

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