Oct 9, 2026 · 1h 5m
Markets advance as power-trend confirmation remains incomplete
Indexes Finish On A Positive Note; Datadog, Snowflake, Dell In Focus
The episode frames a positive market session against a choppy backdrop, showing why price, breadth, and disciplined risk controls still matter.
- 1Major indexes gained, but the hosts say the advance has not yet produced a confirmed power trend.
- 2Technology remains the leading area, while retail, restaurants, energy, and Brazil offer additional strength to screen.
- 3Datadog, Snowflake, and Dell illustrate how breakouts, liquidity, accumulation, and stops shape decisions in difficult conditions.
Don't miss
Mike Webster compares SPY, equal-weight SPY, and Nasdaq charts to show why the current advance has not yet formed a sustained power trend.
The brief
Justin Nielsen and Mike Webster review a positive session for major indexes, but treat the gains cautiously: the market remains choppy and its power-trend confirmation is incomplete.
The hosts argue that price and breadth action should lead the analysis, especially when Treasury signals appear to conflict with strong Nasdaq performance.
Technology remains the clearest leadership area, with semiconductor, software, and cybersecurity breakouts often pulling back quickly enough to make stops and position management essential.
Datadog’s relative-strength line, Snowflake’s breakout and earnings-day liquidity, and Dell’s fundamentals and accumulation provide three contrasting tests for emerging leadership.
Mike Webster’s review of SPY, equal-weight SPY, and Nasdaq shows why the market’s advance still lacks the sustained breadth associated with a power trend.
The closing routine is practical rather than predictive: screen stocks near key moving averages, sort by sector and industry, and let emerging leaders reveal themselves.
What was said on this episode
31 statements · 22 positive · 7 negative · 2 neutral
Major stock indexes currently look strong.
“The indexes look great.”
Listen at 0:54
Power trends tend to produce the market’s largest gains.
“when you have them, that tends to be the time where you're making the most amount of progress”
Listen at 3:30
Indexes usually finish higher two months after an immediate power-trend retest.
“two months later on balance they end up higher”
Listen at 7:25
The recent index action represents a pause, correction, or base.
“This on an index level was just kind of a pause, a little mini intermediate correction or a base that we formed here.”
Listen at 10:26
Investors should emphasize index ETFs while individual stocks remain difficult.
“my suggestion would be lean heavier on the index level until”
Listen at 11:37
The Nasdaq and SPY currently look strong.
“the nasdaq looks good spy looks good”
Listen at 12:21
Micron’s chart currently remains technically sound.
“I think this chart still looks fine.”
Listen at 16:54
A semiconductor-group collapse would likely weigh on the Nasdaq.
“If you get a complete implosion on there, I just think it would be very hard for that to not drag on the market.”
Listen at 17:53
SKYY appears positioned to rise substantially.
“it looks like it wants to go substantially higher”
Listen at 19:54
Investors should screen for stocks above key averages, $10, and $25 million volume.
“Do a screen for above the 21-day, above the 50-day, above the 200-day, above $10, and above $25 million volume.”
Listen at 22:25
Cracker Barrel’s negative developments appear to be over.
“the negative stuff appears to be behind them”
Listen at 24:51
Cracker Barrel should regain a price above 80 before consideration.
“get back above 80”
Listen at 24:58
Traders should exit a gap-up position if price falls below yesterday’s low.
“Your exit is yesterday's low. No questions asked. If it comes back underneath there, then you have to exit.”
Listen at 26:32
A stock’s RS line reaching new highs is a strong leadership signal.
“The RS line going into new highs is a really big deal.”
Listen at 27:34
Datadog remains buyable at its current level.
“I still think it's viable here.”
Listen at 28:04
Snowflake warrants a smaller position because of two technical concerns.
“I just wouldn't have as big of a position in it because it's got those two marks against it.”
Listen at 31:43
Snowflake appears likely to sustain a stronger advance.
“looks like it's finally going to have some legs”
Listen at 32:11
Dell is among the strongest fundamental investment opportunities.
“I think this is one of the best fundamental plays out there.”
Listen at 32:36
SPY is expected to move higher the following week.
“the expectation is moving higher next week based on this candle”
Listen at 36:58
The Nasdaq may move sideways or lower based on its weekly candle.
“it looks like it wants to go sideways to lower”
Listen at 37:41
SPY currently looks technically strong across regression analysis.
“SPY looks really good from that context.”
Listen at 39:43
Investors should reduce exposure or exit if indexes fall below the 200-day average.
“If you start living underneath there or even going underneath there. You got to be light or out of the market.”
Listen at 42:13
A sustained blue histogram wall is the desired power-trend signal.
“You want to see this really a nice solid wall”
Listen at 45:59
Higher Treasury yields slow economic activity and help reduce inflation.
“as yields go up, it slows things down. What does that do? It helps with inflation.”
Listen at 52:43
Higher interest rates affect small and mid-cap companies more severely.
“when the interest rates go up, it impacts them a lot more”
Listen at 53:26
Investors should not use bond-market signals in Nasdaq analysis.
“The Nasdaq is up pretty much at new highs at the same time that the bond market is telling you that it should be at new lows. So don't put it as part of your analysis.”
Listen at 53:52
The current Federal Reserve is expected to manage problems and restore inflation control.
“I think our current Fed, I give them an A+, and I think they're going to do a good job navigating us through all the problems and eventually get inflation back under control.”
Listen at 56:46
Investors should continue focusing on technology because the AI cycle may have far to run.
“I would focus in on tech still because we're in an AI bubble and we could be on the way to the ball game in an AI bubble or maybe the first or second inning. I think we've got a long, long, long way to go.”
Listen at 57:46
Cash holdings will not decline in value.
“cash is cash. It's not going to go down.”
Listen at 59:50
Investors lacking screening time should use ETFs instead of trading individual stocks.
“If you don't have time to look through that many stocks, you shouldn't be trading. You know, frankly, just go with ETFs.”
Listen at 1:01:11
Stock screens should first be sorted by sector.
“sort it by sector as your primary”
Listen at 1:02:06
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.