Stock Market Today With IBD Indexes Test Key Levels; Palantir, Valero Energy, MongoDB In Focus
Nov 6, 2025
Alexis and Ed dive into a market decline driven by a spike in layoffs and index reversals. They caution new buyers amidst volatility and highlight the weakness in equal-weighted ETFs. The hosts also discuss the troubling technicals of Palantir, despite its strong fundamentals, and Valero's breakout potential in the refining sector. MongoDB's recent performance shines after CEO news, while after-hours earnings bring volatility for companies like IREN and SoundHound. Additionally, Expedia’s surge captures attention ahead of key shareholder votes.
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Market Whipsaw From Layoff Spike
- Layoff reports and limited government data have amplified market fear despite mixed economic signals.
- Leading stocks that recently broke out are rolling over, creating a choppy one-step-forward, multiple-steps-back market.
New Buys Are Most At Risk
- The Nasdaq is flirting with prior ranges while still tracking a rising 21-day line overall.
- Stocks bought in April–August mostly hold gains, but new buys from recent weeks face pressure.
Small Caps Losing Momentum
- Small caps fell below the 50-day line and undercut recent lows, marking the lowest level in almost a month.
- Choppy markets punish buyers who repeatedly buy at relative highs by chopping them around.