2026-10-01
SPY rose 0.2% to close at $764. Pete called the bond sell-off overdone and said the market stays under pressure until bonds hit a capitulation low, with SPY still in its downward sloping channel.
Daily Market Analysis
October 2026
A complete intraday market analysis for each day is listed below.
2026-10-05
SPY rose 0.7% to close at about $775. Pete noted that job gains of just 29,000 missed the 95,000 expected, and he sees a market with no trend, where patience matters and forcing trades is costly.
1
2026-10-06
SPY rose 0.5% to $779. Pete credited a healthy ISM Services reading of 54.9 with kickstarting the rally and said recent price action favors the long side, though he expects choppy trading with many pullbacks.
1
2026-10-07
SPY slipped 0.2% to close near $777 after a failed breakout. Pete said buyers did not support the gap up, calling the move a head fake, and expects the market to stay trapped in a range through earnings season and the mid-terms.
2
2026-10-08
SPY fell 0.4% to $774. Pete said bonds were testing a possible capitulation low and TLT needed to close above $77.60 to hold it, while he stayed only slightly bullish given seasonal weakness and the mid-term elections.
