Rates And Oil Fall, S&P Set To Blast Through All-Time Highs, Here Are The TOP Trades

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Verified Investing

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Rates and oil are falling, and the S&P is set to break through to new all-time highs.

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Yields are down, the dollar is down, and oil is breaking a key level, a trifecta that's pushing S&P futures up about half a percent after yesterday's close just shy of record highs. Gareth Soloway has stayed bullish above 7,575 for two months and now sees 8,000. He also maps oil's breakdown, the Nvidia level he'd short, and the trades already working.

๐Ÿ“ ON TODAY'S SHOW

๐Ÿ”ด THE 10-YEAR โ€” Yields keep struggling at the 2007 pivot high around 5.28% to 5.30%. Scott Bessent says he expects yields to fall on renewed fiscal responsibility. Gareth calls that an empty promise. With $40 trillion in debt, the bond market will eventually force austerity, much like Greece and Italy in 2011. For now he's bearish on yields, targeting a pullback to 5% or below.
๐Ÿ”ด OIL BREAKS DOUBLE SUPPORT โ€” The horizontal line that held since September 2 and an ascending trend line are breaking together, a more powerful signal than a single line. With midterm pressure to cut prices, a daily close below points to about $78 by early November.
๐Ÿ”ด NVDA โ€” New all-time high, inside a wedge where every hit of the upper trend line has led to a big correction. Gareth is watching for a swing short at $255 to $256. Narratives like "this time is different" are what get retail on the wrong side.
๐ŸŸข BIDU AND BAC โ€” Baidu bounced right where its descending parallel met major support, and Gareth expects more upside there and in Alibaba. Bank of America fell from $64 to $53 in a few weeks into major support. He's still long, looking for a bounce to at least $56, possibly $57 to $58.
๐Ÿ”ต SPCX โ€” SpaceX ran from $148 Thursday to $172 and is sitting right at a pivot high. The next resistance is the top of its parallel near $187, where a gap fill lines up. It's a great company, and still a trade.
๐Ÿ”ต GOLD AND SILVER โ€” Gold is bouncing as yields and the dollar pull back. It recaptured its trend line near $4,100 intraday, and a confirmed break would test $3,950, then $3,500. Silver's break point is a daily close below $59.50, which opens $55 and possibly $50.
๐ŸŸข NAT GAS AND BITCOIN โ€” Nat gas printed a big reversal candle that closed above the prior red candle's high, and it's up two more days. Gareth stays long. Bitcoin needs a daily close above $87,200 to $87,300 for a $97,000 to $98,000 target. Support is $81,300, and below it $75,500 opens.

๐Ÿ”‘ KEY TAKEAWAY: Every candle tells a tale. Nat gas closed below support, then printed a bigger green candle that closed above the red candle's high. That's the bulls saying no to the breakdown. Learn to read that language and the chart tells you who's in control.

โฑ TIMESTAMPS (estimated)
00:00 Rates and Oil Fall
01:05 S&P Futures
02:00 The 10-Year at the 2007 Pivot
03:05 Bessent's Fiscal Promise
05:30 Oil Breaks Double Support
08:10 Nvidia's Short Level
10:05 Baidu Bounces
11:15 Bank of America
12:20 SpaceX Resistance
14:05 Gold's Trend Line
15:35 Silver's $59.50 Line
16:30 Nat Gas: Reading the Candles
18:30 Bitcoin's Breakout Level
20:55 The Options Edge

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๐Ÿ’ฌ COMMENT below: Does the S&P make a new all-time high today?

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โš ๏ธ Educational and informational only โ€” not financial advice. Gareth Soloway and Verified Investing are not registered investment advisors. Trading involves substantial risk of loss. Past performance does not indicate future results.

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