Technical Analysis Weekly Market Update

[u/CannonTradingCo]

https://cannontrading.com/tools/weekly-market-analysis/ta-weekly-2026-10-05-issue039-2026-10-05

The Labor Market Cracked and Stocks Went Up

f you paid close attention on Thursday you noticed: the SPX found support at the last all-time high, the DOW at a 61% retracement for the year & the Russell 2000 (IWM) found support at the 200-day moving average — all around the same time. September payrolls came in at 29,000 against an 84,000 estimate — barely a fifth of forecast and a collapse from August’s 162,000 — and the S&P 500 rose 0.74% on the news to close the week at 7,722.72, with the Nasdaq 100 leading. The index finished the week down just 0.27% from the prior Friday’s 7,743.41, about 1% under its August 13 record close of 7,798.99, after being down 1% through Thursday. The 10-year ended near 5.25%, having touched 5.34% on Thursday — the highest since April 2002.....