https://youtu.be/U6RbyXdbSAY Crude oil sits right at $100 a barrel. Corey Rosenbloom calls it a key psychological marker for the entire market. He believes that one price decides whether the S&P 500 rallies or breaks this week. Corey game plans the S&P 500 every session. On Friday, he flagged an oversold market pressing into support near 7680. Monday delivered the rally he mapped. The S&P 500 bounced off that support shelf and hit his initial target. The bigger trend still points up. Corey sees higher highs and higher lows, with the pullback forming a flag inside the uptrend. Inflation keeps pressure on that setup. CPI came in at 3.7%. Oil continues to climb on the daily chart. Fed Chair Kevin Warsh holds the next meeting on October 27th and 28th. Corey expects a pause, with a rate hike more likely in December. Amazon, Micron, and Intel led Monday’s bounce. Chip stocks

https://youtu.be/-o05W9ad3pk Volatility futures flipped into backwardation today. The VVIX headed into the close north of 110, a level I call the foamy zone. That inversion means the market sees more risk over the next 33 days than over the next 61. When the curve inverts like this, the probability of outsized moves in the SPX goes up by an order of magnitude. The S&P 500 dropped 1.25% on Friday. The NASDAQ fell almost 3%. At least $1.4 trillion in market cap disappeared today. My guess is the real number sits closer to $2 trillion. On Wednesday, the S&P 500 sat basically at its all time high. Two days of selling later, I’m already hearing clients ask which dip to buy. I’m telling them to slow down. The advance decline line sits at 50/50. Traders are still thinking and rotating instead of dumping everything at any price. Financials finished green today.

https://youtu.be/9jiuBRdBUko The bond market flashed a warning today that I haven’t seen in a very long time. Traders would rather own bonds than the S&P 500 or the NASDAQ. The S&P 500 dropped about 90 handles into the close. Everyone will blame the hot CPI report. I see CPI as the fuse. The powder keg was already sitting there. Bonds sold off right after the CPI print. That’s exactly what you’d expect when inflation runs a little hot. Then the bond market turned around. It recovered the full point it lost and tacked on another half point. That rally makes no sense on an inflation scare. Traders were hedging. The real selling came straight out of semiconductors. I’ve warned again and again that nothing saves this market if semiconductors come down. I call today’s action duck and cover. Money rotated out of semis, the NASDAQ, and the S&P 500 to