{"id":23380,"date":"2026-10-12T13:16:36","date_gmt":"2026-10-12T20:16:36","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=23380"},"modified":"2026-10-12T13:16:36","modified_gmt":"2026-10-12T20:16:36","slug":"weekly-technical-analysis-what-you-need-to-know-for-trading-on-oct-13th-2026","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/weekly-technical-analysis-what-you-need-to-know-for-trading-on-oct-13th-2026\/","title":{"rendered":"Weekly Technical Analysis + What you Need to Know for Trading on Oct. 13th 2026"},"content":{"rendered":"\n\n\n
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A Record, a Chip Scare, and a Week the Bond Market Finally Gave Back<\/h2>\n

\"futures<\/p>\n

By Eli Gal Levy, Senior Analyst<\/h2>\n

Is the risk worth the reward at this point? Part 8<\/p>\n

The question I keep getting is not about a level. It\u2019s about whether to be in this market at all. Stay invested while indexes print records, or take a guaranteed yield in short-term paper and sit this out until it works itself out. It sounds like the conservative choice, and it is \u2014 but conservative is not the same as costless. Every decision in this tape charges you something, including the decision to do nothing.<\/p>\n

A record, a chip scare, and a week the bond market finally gave back.<\/p>\n

The S&P 500 made its first record close since August, lost it two days later on an OpenAI revenue report, then rallied Friday to finish at 7,811.54 \u2014 up 1.2% on the week and 7.4 points under Tuesday\u2019s record of 7,818.93. The Dow added 0.9% to 51,654.95 and the Nasdaq Composite 0.6% to 27,366.17. The Russell 2000 fell 0.9% to 2,806.98, the fourth week running that the average stock has not come along.<\/p>\n

The bigger change was in bonds. The 10-year touched about 5.36% Wednesday, its highest since 2002, and then closed the week at 5.24%, four basis points lower than the prior Friday. The 30-year ended at 5.60% and the 2-year at 4.80%. After six weeks of one-way selling, the long end finally gave something back.<\/p>\n

The week in sequence<\/p>\n

Monday was the inflation side of the ledger. September ISM services came in near forecast, but its prices-paid gauge hit the highest reading since July 2022, with input costs rising at the fastest pace in more than four years \u2014 three days after payrolls rose 29,000. The S&P gained 0.66% and the Nasdaq Composite closed at a record 27,477.31 on Nvidia, Microsoft and Broadcom.<\/p>\n

Tuesday delivered the record: 7,818.93, up 0.58%, the first new high since August 13. The leadership was the tell. Constellation Energy rose 12.3% after Google agreed to take 3.6 gigawatts of nuclear power, Vistra 10.8% on a Department of Energy commitment of up to $4.2 billion, and Ciena 13.9% \u2014 while Seagate fell 9.2% and Western Digital 6.9% on a Toshiba capacity report. Power and bandwidth bid, storage sold. The Russell fell 0.59% on the day the index made its high.<\/p>\n

Wednesday the record slipped. The $39 billion 10-year reopening was genuinely strong \u2014 it stopped at 5.300%, 1.7 basis points through, with a 2.77 bid-to-cover against a 2.54 average and indirect buyers near 80% \u2014 and yields still reached about 5.36% before easing. The FOMC minutes showed most participants judging another increase likely appropriate by year-end.<\/p>\n

Thursday was the chip scare. A published report put OpenAI\u2019s annualized revenue about $20 billion below earlier signals, and semiconductor indexes fell as much as 4% intraday; Broadcom lost 4.35%, AMD 3.90% and Nvidia 2.94%. The index fell 0.47% to 7,765.36 \u2014 but up volume was a clear majority and the equal-weight fund beat the cap-weighted one, so the damage was concentrated, not broad.<\/p>\n

Friday the market took it back, with Delta\u2019s results and a reported Russia-linked energy agreement knocking diesel futures down about 20 cents a gallon. Crude had already round-tripped a 4% spike on a report that the White House asked the Pentagon for Iran strike options, then faded when the President said there would be no attack before the November 3 midterms.<\/p>\n

What changed underneath<\/p>\n

Two of the three deteriorating series from the prior week reversed. Liquidity flipped from DRAINING to ADDING \u2014 net liquidity rose about $112 billion to $5.86 trillion, almost entirely because the Treasury\u2019s cash balance fell roughly $98 billion. Credit stabilized: the high-yield spread peaked at 3.24% on October 1 and printed 3.15% on October 8, about nine basis points tighter week over week after seven straight widening prints.<\/p>\n

Participation improved but stayed thin: the share of S&P members above their 200-day average rose from 42.0% to 46.5% by Thursday, still under half. Dealers held positive gamma all five sessions, with the put wall parked at 7,700 and the call wall at 8,000 \u2014 where the October 16 chain carries roughly 208,000 calls, by far the heaviest strike on the board.<\/p>\n

The flow data cut the other way. Michael Hartnett reported a record $166.4 billion into money-market funds in the week ended October 7, the largest since April 2020, against $33.8 billion into bonds and $12.4 billion into equities. His line: \u201cNo rate cuts, no cash cuts,\u201d and he is risk-off into the midterms. Goldman\u2019s Robert Quinn counted roughly $64 billion of S&P futures sold by asset managers in five of six weeks.<\/p>\n

Who moved<\/p>\n

Shawn Tuteja (Goldman, volatility trading) reversed himself. Five weeks after calling the risk-reward on AI upside \u201cextremely compelling,\u201d his new note says the asymmetry has shifted, with a chart titled \u201cOne Index, Two Markets\u201d: the S&P up 1.3% over a rolling thirty days while the index excluding AI names is down 5.2%.<\/p>\n

Rick Rieder (BlackRock) called stocks \u201cjust OK\u201d with bonds now \u201ca big alternative,\u201d his funds yielding above 7% on about three years of duration. He expects a December hike and says he would not make it.<\/p>\n

Tony Pasquariello (Goldman) kept the bull case \u2014 \u201cthe primary trend is higher\u201d \u2014 while rating hedge-fund appetite for equity risk at +2 on his scale, down from +6 two months ago.<\/p>\n

Jonathan Krinsky (BTIG) expects the index to chop and slip from the record, noting the August breakout lasted two days, and sees \u201cmassive dispersion\u201d inside AI \u2014 some hardware names up 70\u201380% this quarter, others down 30\u201340%.<\/p>\n

Joachim Klement (Panmure Liberum) set a 2027 year-end target of 5,000 on an AI bust, roughly 36% below the market and the most bearish forecast tracked.<\/p>\n

Elizabeth Burton (Fortress) puts October at a coin flip against market pricing near 15\u201320%, sees fair value on the 10-year at 5\u20136%, and favors floating-rate private credit at about 9% unlevered.<\/p>\n

Jeremy Siegel said the range of economic outcomes is the widest he has seen, compared concentration to 1998\u20132000 while noting today\u2019s leaders have far stronger earnings, and called 25\u201330% earnings growth outside a recession historically unprecedented.<\/p>\n

Tom Lee called the market a \u201ccoiled spring,\u201d said the investors he met since late September mostly think AI is a bubble, and expects Q3 earnings to restore confidence. Keith Lerner (Truist) gives the four-year-old bull market the benefit of the doubt but says a 10-year near 6% would change his view.<\/p>\n

Dan Ives initiated technology at outperform, arguing the Street is about 20% too low on next year. Ed Yardeni held 7,900 while warning that global debt issuance near 23% of world output makes the public-finance outlook grim.<\/p>\n

Single names<\/p>\n

PTC rose 33.5% on Schneider Electric\u2019s roughly $22.6 billion all-cash agreement. C.H. Robinson fell 10.9% on its $5.8 billion purchase of RXO. Wolfspeed jumped 16% on a $1.5 billion Defense Department loan commitment. Morgan Stanley\u2019s Adam Jonas initiated SpaceX at Buy with a $300 target; Verizon then fell about 7% Friday on a report that SpaceX is acquiring spectrum to become a mobile carrier. Goldman upgraded Palantir to Buy at $230.<\/p>\n

The through-line is financing. Broadcom is seeking more than $50 billion to fund OpenAI\u2019s custom chips, approaching Apollo and Blackstone; Oracle is in talks with Apollo and Goldman about a vehicle to buy and lease back chips; SpaceX has discussed $40 billion for Nvidia hardware. The build-out\u2019s marginal dollar is now borrowed, in the market that spent six weeks selling off.<\/p>\n

Into next week<\/p>\n

Bonds are closed Monday for Columbus Day with stocks open. Large banks start Q3 earnings Tuesday. September CPI lands Wednesday \u2014 consensus 0.6% headline, 0.2% core \u2014 the last major inflation read before the quiet period and two weeks ahead of the October 27\u201328 meeting. PPI and retail sales follow Thursday, alongside the tax date, the H.4.1 and the reopening of the corporate buyback window. October hike odds sit near 15\u201320%; December near 80\u201385%. One print decides which of those moves.<\/p>\n

I am biased toward the tape. I follow what the market does, not what I think it should do. Right now the tape is a percent off its highs with volatility at a year-to-date low, the front end pricing a hike, and breadth thinning underneath \u2014 and I will keep watching the ten-year, the credit spreads, the equal-weight index and the HYG ETF to tell me when that changes.<\/p>\n

View Charts and Analysis for SP, Nasdaq, Dow, Gold, Crude Oil, Dollar Index, VIX, Bonds, BTC and More!!<\/a><\/p>\n

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Cannon Edge \u2014 Your Daily Futures Snapshot for Oct. 13th<\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:<\/h4>\n

\u00b7\u00a0\u00a0\u00a0\u00a0Current price and daily % change<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a030\u2011day and 52\u2011week highs\/lows<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0PROPRIETARY Short\u2011term and long\u2011term trend signals<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0Coverage across equity indices, metals, energies, currencies, and ags<\/p>\n

Whether you’re scanning for breakout setups, trend reversals, or just staying informed \u2014 Cannon Edge puts the data in your hands before the open.<\/h3>\n

Built for speed. Backed by insight. Powered by CQG.<\/em><\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Daily Levels for October 13th, 2026<\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Economic Reports<\/h3>\n

provided by: ForexFactory.com<\/a><\/p>\n

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A Record, a Chip Scare, and a Week the Bond Market Finally Gave Back By Eli Gal Levy, Senior Analyst Is the risk worth the reward at this point? Part 8 The question I keep getting is not about a level. It\u2019s about whether to be in this market at all. Stay invested while indexes […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-23380","post","type-post","status-publish","format-standard","hentry","category-future-trading-news"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=23380"}],"version-history":[{"count":3,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23380\/revisions"}],"predecessor-version":[{"id":23386,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23380\/revisions\/23386"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=23380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=23380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=23380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}