October 8, 2026

By Nigam Arora

To gain an edge, this is what you need to know today.

Signs Of Market Character Shift

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows the stock market has pulled back to the bottom of zone 1.
• The chart shows the stock market was at an all time high only two days ago.
• It is important for the stock market to hold the low band of zone 1.  If the stock market decisively breaks below zone 1, it would raise the specter that the breakout to a new high two days ago was a false breakout.