Bearish Reversal! Wall Street’s Wild Monday Sends Warning Signs
Monday was a wild day on Wall Street, with stocks opening sharply higher before reversing and closing significantly lower. Despite the volatility, the market produced relatively few official bearish reversal signals. Money continued moving out of technology stocks and into other sectors, particularly traditional Dow components. The Dow’s Dogs led the gains, while energy stocks suffered significant losses. Gold stocks also showed some strength, although gold and silver are expected to face further weakness.
Investors are now watching several important technical levels to determine whether the market can stabilize or if another leg lower is ahead. The NASDAQ and semiconductor ETFs remain near their 200-day moving averages, while the S&P 500’s 750 level and the SMH’s $500 level are critical areas to watch. Nvidia remains above $200, while weakness in several major technology stocks continues. Today’s market action will be important in determining whether recent lows hold or selling pressure intensifies.
Stephen Whiteside
Tuesday, November 3, 2026
0:00 Introduction: A Wild Day on Wall Street
0:37 Extreme Fear and Money Rotating Out of Technology
1:07 Crude Oil, Gold and Silver Outlook
1:53 Sector Winners and Losers
2:38 Dogs of the Dow and Canadian Market Leaders
2:52 NASDAQ and Semiconductors Test the 200-Day Moving Average
3:25 Critical Support Levels: S&P 500 at 750 and SMH at $500
4:00 TSX Market and Sector Performance
4:35 Energy Stocks and Crude Oil Under Pressure
5:17 Canadian and U.S. Sector Analysis
6:20 Technology Stocks Approach July Lows
6:43 Magnificent 10 and AI ETFs Make New Closing Lows
7:02 Apple, AMD and Amazon Stock Analysis
7:38 Broadcom, Alphabet and Meta
8:00 Microsoft and Nvidia: Is More Weakness Ahead?
8:22 Nvidia’s Critical $200 Support Level
8:35 Shopify, Tesla and SpaceX
9:03 Final Market Outlook: Watching the S&P 500
