Markets Looking SOFT at highs - Correction Underway (Key Levels)

October 10th candle is a very important low for all US Markets
-S&P
-Nasdaq
-Dow
-Russell

The rally from that Oct 10 candle low (Friday) was met with aggressive
support but was only showing rallies in Mag 7 and AI related plays

Earnings for the most part are coming in meeting or exceeding expectations, but
price action is certainly looking soft with the market making lower highs and lower
lows for now

We have plenty of technical support, but given the longest US Government Shutdown
in history with dot.com like valuations (there is bubble and non-bubble evidence),
sentiment and elevated volatility are taking their toll and dragging the markets lower

I've closed a lot of open positions and de-risked the portfolio pretty severely this week
with the intention of finding ways to participate in a cautiously bullish environment. As I mention in the video, markets tend to V bottom, but round out the tops so the longer we
stall at these highs and the more "rounded" look we have near these highs, the more
fragile and support can be if we eventually see a break lower - TBD

Day to day, we continue to do good work carving out short-term winners and properly
position for what is next - good or bad

Thanks for watching. See you in the live markets

-Chris