WEEKLY STOCK MARKET DIGEST: WHAT PRUDENT INVESTORS NEED TO KNOW NOW

August 29, 2026

Weekly Digest from The Arora Report is popular among serious investors and money managers because they have found studying insights from the prior week gives them an edge over the coming weeks. Here is the day by day rundown from the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers of The Arora Report.

Please scroll down for the section ‘Protection Bands and What To Do Now.’

CRITICAL SPEECH FROM FED CHAIR KEVIN WARSH AHEAD – WALL STREET POSITIONED FOR A BULLISH OUTCOME

Aug 28, 2026

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

Positive Positioning

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 pulled back from recent highs to the top band of zone 1 (support).
The chart shows that the stock market has rallied from the top band of zone 1, but it is still below recent highs.
RSI on the chart shows that the stock market has room to go higher.
A critical speech from Fed Chair Warsh is ahead at Jackson Hole at 10am ET.
Right now there is a lot of speculation as to what Warsh will say. In The Arora Report analysis, here are the possibilities:
- Warsh may not say anything of consequence as Warsh is a believer in not letting the Fed guide the markets but instead let the market make up its own mind. However, Warsh is under tremendous pressure to outline a clear direction.
- Warsh could give lip service to being hawkish due to the data but not say anything about the future course of monetary policy.
- Warsh could actually say something substantive that matters.
In The Arora Report analysis, Wall Street is positioned bullish ahead of Warsh’s speech. The narrative is that the stock market is going to go higher irrespective of what Warsh says. If Warsh is hawkish, this will in theory be negative for the stock market, but momo gurus will likely spread the narrative that Warsh does not mean it. If Warsh is dovish, momo gurus will likely be out in full force saying it is a signal to aggressively buy stocks.
In The Arora Report analysis, irrespective of what Warsh says and how the market reacts, prudent investors need to remember that nothing is going to change the following:
- U.S. debt is $40T.
- The federal deficit continues to rise.
- Inflation is sticky so far.
- Hard data favors raising interest rates.
- The Fed is under tremendous political pressure to not raise interest rates prior to the midterm election.
- Neither political party has the courage to act responsibly to curb deficits.
- The sum total of the foregoing is that the stock market has more risk than generally believed.
Prudent investors should continue to balance the upside from this next phase of AI with the rising risks from fiscal and monetary policies. Having deeper knowledge at this time will be a big asset to prudent investors. The easiest way to gain deeper knowledge is to listen to podcasts in Arora Ambassador Club.
Much anticipated earnings from AI superstar Marvell (MRVL) were excellent. However, the whisper numbers were rising going into earnings. MRVL is falling because earnings were below whisper numbers. This illustrates the risk in the market of very high expectations that most investors are oblivious to.
Remember that the media and Wall Street are structurally trapped to always be bullish – if they are not bullish, it hurts their revenues. For this reason, prudent investors should take what they hear from the media and from Wall Street with a grain of salt.
University of Michigan consumer sentiment will be released at 10am ET, but for today, it is not going to matter because of Warsh’s speech.
As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

Most portfolios are now heavily concentrated in the Mag 7 stocks. For this reason, to get ahead and get an edge, investors need to dig below the surface of the Mag 7 stocks. It is equally important to rise above the noise of daily news on the Mag 7 stocks. The best way to get an edge, dig below the surface, and rise above the noise of the daily news is to pay attention to early money flows in the Mag 7 stocks on a daily basis. When there is significant news in the Mag 7 stocks that rises above the threshold of noise and impacts your entire portfolio, it is covered in the main section above.

In the early trade, money flows are positive in Amazon (AMZN), Microsoft (MSFT), Alphabet (GOOG), Meta (META), and Apple (AAPL).

In the early trade, money flows are neutral in Nvidia (NVDA) and Tesla (TSLA).

In the early trade, money flows are neutral in S&P 500 ETF (SPY) and negative in Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** (To see the locked content, please take a 30 day free trial) stocks in the early trade. Smart money is *** in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling. Over a long period of time, investors come out ahead by adopting smart money’s ways. The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money. Smart money is an important indicator but is only one of hundreds of indicators that go into determining the Arora Protection Band and signals. Please click here and here to understand how signals are generated.

Very Very Short-Term Indicator

The Arora Report’s proprietary very, very short-term early stock market indicator is ***. This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Gold

The momo crowd is *** in gold in the early trade. This is reflected in gold ETF (GLD), silver ETF (SLV), gold miner ETF (GDX), and silver miner ETF (SIL). Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is range bound.

Markets

Interest rates are ticking up, and bonds are ticking down.

The dollar is stronger.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

S&P 500 futures are trading at 7749 as of this writing. S&P 500 futures resistance levels are 7831, 7900, and 8000 : support levels are 7700, 7318, and 7194.

DJIA futures are up 102 points.

Gold futures are at $4611, silver futures are at $71.34, and oil futures are at $82.62.

Arora Protection Band And What To Do Now

It is important for investors to look ahead and not in the rearview mirror. The proprietary Arora Protection Band from The Arora Report is very popular. The Arora Protection Band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.

Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider holding *** in cash, Treasury bills, short term fixed income, or allocated to short-term tactical trades; and short to medium-term hedges of ***, and short term hedges of ***. This is a good way to protect yourself and participate in the upside at the same time.

You can determine your protection bands by adding cash to hedges. The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive. If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.

A protection band of 0% would be very bullish and would indicate full investment with 0% in cash. A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.

It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash. When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks. High beta stocks are the ones that move more than the market.

Traditional 60/40 Portfolio

Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.

Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less. Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.

NVIDIA’S UNUSUAL MOVE ANSWERS AI TRADE’S KEY QUESTION — BUT $40 TRILLION BOMB TICKS AHEAD OF KEY SPEECH

Aug 27, 2026

Nvidia’s Unusual Move

Please click here for a chart of Nvidia (NVDA).

Note the following:

The chart shows that NVDA gapped up above the low band of Zone 1 (resistance).
RSI on the chart shows that NVDA has room to run.
Prudent investors should carefully watch whether NVDA can break above Zone 1. If NVDA can break above Zone 1, it will be a tremendous positive.
As an Arora Report member, you have been ahead of the curve. We have been sharing with you that the key question for investors is: Are these AI-driven earnings cyclical or secular? If the earnings are secular, the stock market has significant upside, with the S&P 500 potentially going above 10,000. On the other hand, if the earnings are cyclical, combined with the risk of the $40T U.S. debt, the stock market can easily fall 30% – 50%.
Apparently, NVDA is aware of this key question about AI-driven earnings being cyclical or secular. NVDA took an unusual step during its conference call to answer the question. Typically, NVDA has not given forward guidance. During the conference call, NVDA gave the forward guidance we have been asking for.
Initially, after the NVDA earnings report, the stock fell because earnings were below the whisper numbers. Here are the details:
- NVDA reported Q2 earnings of $2.22 vs. the $2.09 consensus estimate.
- NVDA reported Q2 revenue of $96.2B vs. the $92.18B consensus estimate.
- NVDA sees Q3 revenue of $108B ± 2% vs. the $103.9B consensus estimate.
At the beginning of the conference call, NVDA dropped a bombshell. NVDA guided FY28 revenue growth to about 70%. NVDA said the growth projection would have been 100% if it were not for supply constraints.
In The Arora Report analysis, there are five factors behind the blowout projections for FY28:
- SpaceX (SPCX) is ramping up at a much larger scale than expected.
- Neoclouds such as Nebius Group (NBIS), CoreWeave (CRWV), and IREN (IREN) are ramping up faster than expected.
- Traditional hyperscalers such as Amazon (AMZN), Google (GOOG), Microsoft (MSFT), and Oracle (ORCL) are planning to deploy more GPUs than expected.
- NVDA increasingly providing circular financing is helping.
- NVDA is pushing through price increases and thus generating more revenue.

In The Arora Report analysis, if NVDA’s conference call is to be believed, the probability of earnings growth being secular is higher than the probability of earnings growth being cyclical. However, prudent investors should revisit the period prior to the internet crash in the stock market in 2000. Stock market darlings of the day, such as Lucent, Nortel Networks, and JDS Uniphase, were saying the same thing that NVDA is saying now. Just as NVDA is providing circular financing now, major vendors were providing significant vendor financing in the late 1990s. Ultimately, demand did not materialize to the level anticipated, and vendor financing became part of the undoing that led to the internet crash.

As full disclosure, long time Arora members are long NVDA from $12.55 for a gain of 1671%. There is also an NVDA trade around position. A trade around position is a billionaire and hedge fund technique that can dramatically increase your returns and reduce your risk.

In The Arora Report analysis, prudent investors should pay attention to the fact that the cost of tokens is going down, but the cost of compute for tokens is going up. On the surface, such a situation can lead to a death spiral. However, the present data may change over time as AI usage expands. This is an important data point that prudent investors need to keep an eye on.

NVDA earnings are bringing aggressive buying into tech stocks in the early trade.
In an important development, enterprise software giant Salesforce (CRM) is jumping on good earnings and an alliance with Anthropic. The concern was that Anthropic would eat into CRM’s business.

In The Arora Report analysis, as bullish as NVDA’s conference call was, prudent investors should not forget the ticking bomb of the rapidly rising $40T U.S. debt. Investors need to manage the AI opportunity on one side and protect against the debt on the other side by diversifying their portfolios. The best way to manage this situation is to follow the Arora Protection Band and diversify across as many opportunities as possible, including commodities, international positions, and short trades.

At Jackson Hole, Fed’s Schmid is saying Fed policy might be accommodative on the short end. In The Arora Report analysis, Fed policy needs to be restrictive on the short end based on the data.
A market-moving speech from Fed Chair Kevin Warsh is tomorrow at Jackson Hole.
Initial jobless claims came at 203K vs. 210K consensus, indicating that the jobs picture remains strong.
As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Apple (AAPL), Nvidia (NVDA), Microsoft (MSFT), and Meta (META).

In the early trade, money flows are negative in Amazon (AMZN), Alphabet (GOOG), and Tesla (TSLA).

In the early trade, money flows are positive in S&P 500 ETF (SPY) and in Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** in the early trade. Smart money is *** in the early trade.

Very Very Short-Term Indicator

Gold

The momo crowd is *** gold in the early trade. This is reflected in gold ETF (GLD), silver ETF (SLV), gold miner ETF (GDX), and silver miner ETF (SIL). Smart money is *** gold in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is *** oil in the early trade. Smart money is *** oil in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) has once again spiked over $80,000 in sympathy with aggressive buying in tech stocks but has pulled back as of this writing.

Markets

Interest rates and bonds are range bound.

The dollar is stronger.

S&P 500 futures are trading at 7711 as of this writing. S&P 500 futures resistance levels are 7831, 7900, and 8000: support levels are 7700, 7318, and 7194.

DJIA futures are down 125 points.

Gold futures are at $4635, silver futures are at $68.53, and oil futures are at $82.64.

AI BOOM COLLIDES WITH INFLATION – THE FED FACES A DANGEROUS CHOICE FOR INVESTORS, NVIDIA EARNINGS AHEAD

Aug 26, 2026

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

Dangerous Choice For Investors

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 is pulling back slightly after a slew of economic data.
To the momo crowd’s dismay, the chart shows that since the breakout above zone 1 (support now but previous resistance), the stock market has not rocketed higher. Instead, the stock market has pulled back.
Prudent investors should carefully watch if the stock market bounces off to make new highs after bouncing from the top band of zone 1 or the stock market breaks below the top band of zone 1.
RSI on the chart shows the stock market is oversold. Oversold markets are susceptible to a bounce.
A slew of economic data released this morning shows the AI boom is colliding with inflation. In The Arora Report analysis, the Fed faces a dangerous choice for investors. Based on the hard data, the right thing for the Fed to do would be to raise interest rates. However, if the Fed were to raise interest rates aggressively, the momo driven stock market could crash.
In The Arora Report analysis, the probability of the Fed doing the right thing is low. The Fed is under tremendous pressure from President Trump to lower interest rates. Also,the U.S. Treasury’s latest buyback plan puts the Treasury on a collision course with the Fed if the Fed were to do the right thing.
In The Arora Report analysis, the actionable item for prudent investors is to be positioned to profit from the AI upside and simultaneously protect their portfolios. The best way to accomplish this goal is to follow the Arora Protection Band. Having deeper knowledge will be of tremendous help to investors. There are many existing podcasts in Arora Ambassador Club, including the start of a new series titled “BRUTAL MATH: WHY SMART MONEY USES 11 LAYERS OF RISK CONTROL.”
The U.S. economy is 70% consumer based. For this reason, prudent investors pay attention to personal income and personal spending. Just released personal income and spending data shows why inflation is rising. Here are the details of the new personal income and spending data:
- Personal income came at 0.4% vs. 0.2% consensus.
- Personal spending came at 0.2% vs. 0.2% consensus.
PCE is the Fed’s favorite inflation gauge. PCE came hotter than expected. Here are the details:
- PCE came at 0.2% vs. 0.1% consensus.
- Core PCE came at 0.2% vs. 0.2% consensus.
Durable orders data is stronger than expected. Here are the details:
- Durable orders came in at 1.1% vs 0.5% consensus.
- Durable orders ex-transportation came at 0.4% vs 0.5% consensus.
GDP data is inline with expectations. Here are the details:
- Q2 GDP Second Estimate came at 1.5% vs. 1.5 consensus.
- Q2 GDP Deflator Second Estimate came at 6.4% vs. 6.3% consensus.
Nvidia (NVDA) earnings will be announced after the regular session close and may have a major impact on the stock market.
As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Meta (META).

In the early trade, money flows are neutral in Apple (AAPL) and Amazon (AMZN).

In the early trade, money flows are negative in Alphabet (GOOG), Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA).

In the early trade, money flows are negative in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade. Smart money is *** in the early trade.

Very Very Short-Term Indicator

Gold

As we previously shared with you, the gold rally had started due to purchases by Chinese investors to protect themselves from the government’s crackdown on moving money abroad. Over the last few days, Chinese buying has slowed. As a result, we shared with you yesterday that smart money was selling gold. In a divergence, the momo crowd was aggressively buying call options on gold. Gold is seeing a pullback after release of the economic data. In the early trade, smart money continues to sell gold, and the momo crowd continues to aggressively buy gold.

For longer-term, please see gold and silver ratings.

Oil

Oil has seen selling on Iran and Oman reaching an agreement to manage traffic through the Strait of Hormuz.

API crude inventories came at a build of 4.2M barrels vs. a consensus of a build of 1.8M barrels.

The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is seeing selling after the release of new economic data. A short squeeze in bitcoin is also showing signs of ending.

Markets

Interest rates are ticking up, and bonds are ticking down.

The dollar is stronger.

S&P 500 futures are trading at 7682 as of this writing. S&P 500 futures resistance levels are 7700, 7900, and 8000 : support levels are 7318, 7194, and 7032.

DJIA futures are up 16 points.

Gold futures are at $4636, silver futures are at $68.53, and oil futures are at $80.51.

MOMO CROWD BUYS AHEAD OF NVIDIA EARNINGS AND INFLATION DATA, TREASURY BOND BUYING A BAD IDEA

Aug 25, 2026

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

Key Data Ahead

Please click here for a chart of Nasdaq 100 ETF (QQQ).

Note the following:

The chart shows that QQQ did not reach the low band of zone 1 (resistance) before pulling back.
The chart shows that this morning QQQ is rallying. Buying in QQQ this morning is almost exclusively coming from the momo crowd. The momo crowd is repeating its pattern of buying before key events.
Two key events are ahead:
- PCE, the Fed’s favorite inflation gauge, will be released tomorrow at 8:30am ET. In addition, personal income and spending, GDP, and durable orders will also be released.
- Nvidia earnings will be released after the regular session close tomorrow.
Prudent investors should be highly cognizant of the sharp contrast between the momo crowd and smart money. The momo crowd almost always aggressively buys before key events. A key event poses risk to the downside and reward to the upside. Since the momo crowd does not take risk into account, their logic of buying before the key event is that there may be a potential reward. On the other hand, smart money focuses on both risk and reward. For this reason, smart money typically does not buy before a key event.
We previously wrote about the U.S. Treasury bond buyback program. Legendary investor Stanley Druckenmiller is publicly criticizing Treasury Secretary Bessent’s expansion of Treasury buybacks of long bonds. In The Arora Report analysis, we agree with Druckenmiller and prudent investors should pay attention to the following:
The Treasury appears to be moving beyond its traditional role of maintaining orderly markets.
There is no evidence of Treasury market stress that would normally justify this type of intervention.
Higher long term yields are sending an important message about persistent inflation, very large federal deficits, rapidly rising federal debt, and enormous government interest expense.
The bond market is one of the few remaining forces capable of imposing discipline on fiscal policy.
There is also a credibility risk. If the Treasury begins buying bonds because yields are considered too high, investors may reasonably ask where the intervention ends if yields continue rising. That could ultimately require increasingly large purchases and undermine confidence in Treasury debt management.
Bond buybacks cannot solve a fiscal problem. Sustainable downward pressure on long term interest rates ultimately requires lower deficits and greater confidence in the long term trajectory of U.S. government finances.
Consumer confidence will be released at 10am ET today and may be market moving.
As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Amazon (AMZN), Nvidia (NVDA), Alphabet (GOOG), Meta (META), and Tesla (TSLA).

In the early trade, money flows are neutral in Apple (AAPL).

In the early trade, money flows are negative in Microsoft (MSFT).

In the early trade, money flows are positive in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade. Smart money is *** in the early trade.

Very Very Short-Term Indicator

Gold

We previously shared with you that the gold rally was triggered by aggressive buying by Chinese investors. As gold prices have rallied, Chinese buying is petering out. In The Arora Report analysis, now there are first signs that gold may pull back in the short term.

The momo crowd is *** gold in the early trade. This is reflected in gold ETF (GLD), silver ETF (SLV), gold miner ETF (GDX), and silver miner ETF (SIL). Smart money is *** gold in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) briefly rallied above $80K before pulling back. The rally continues to be fueled by a short squeeze and retail investors buying into the narrative of dollar debasement.

Markets

Interest rates are ticking down, and bonds are ticking up.

The dollar is range bound.

S&P 500 futures are trading at 7696 as of this writing. S&P 500 futures resistance levels are 7700, 7900, and 8000 : support levels are 7318, 7194, and 7032.

DJIA futures are up 209 points.

Gold futures are at $4661, silver futures are at $68.10, and oil futures are at $82.34.

SAMSUNG CRASH BRINGS SEMI SELLING, IMPORTANT NVIDIA EARNINGS AHEAD, $1T TREASURY FIRE POWER TO BUY BONDS

Aug 24, 2026

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

Wild Stock Moves Ahead

Please click here for a chart of leveraged semiconductor ETF (SOXL).

Note the following:

Semiconductors are the leading sector that drove the stock market higher. SOXL is the momo crowd’s favorite semiconductor ETF.
The chart shows SOXL rallied to the bottom band of zone 2 (resistance) but was not able to sustain the rally to get to the top band of zone 2. This is a negative.
The chart shows that SOXL has pulled back to the top band of zone 3 (support).
RSI on the chart shows that SOXL is approaching an oversold level and thus could bounce.
The chart shows that this morning there is selling in semiconductors. Semiconductors are being sold this morning in the U.S. in sympathy with Samsung’s stock (SSNLF) crash in South Korea. Samsung stock in South Korea fell 8.7% overnight for the following reasons:
- The selloff was a classic ‘sell the news’ reaction. We previously shared with you that Samsung stock had rallied in anticipation of a shareholder return plan.
- There was disappointment in the structure of the Samsung plan. Samsung’s plan has an unprecedented 90T – 100T won for shareholder payout that investors like, but investors did not like that there was not an immediate, aggressive share buyback or a timeline for Treasury stock cancellations.
Prudent investors should note that when foreigners sold Samsung stock in South Korea overnight, South Korean retail traders took advantage of the dip and bought Samsung stock.
Stock market investors should keep in mind that more important than Samsung price action is Nvidia (NVDA) earnings that will be released Wednesday after the close.
Not as important as Nvidia, but still fairly important to the stock market are Marvell (MRVL) earnings that will be released Thursday after the close. In The Arora Report analysis, Marvell earnings will be an important data point for the next phase of AI.
Trade talks between the U.S. and Canada are breaking down. Canada is suspending negotiations, and beginning at midnight tonight, the U.S. will impose a 50% tariff on $28B in goods. The Canadian government is planning to match the tariffs to insulate its businesses and people from the effects of U.S. tariffs.
Prudent investors should pay attention that Anthropic’s Fable 5 has weaker demand than anticipated. In The Arora Report analysis, if this continues, this is a big risk for the AI trade even though the crowd is oblivious at this time.
NYSE and Nasdaq are planning 23 hours a day stock trading starting December 6. This will be very lucrative for the exchanges and Wall Street as they will be able to attract foreign investors, especially from Asia. In The Arora Report analysis, for most investors, 23 hour trading will increase the risk. The reason is that there will be low liquidity. Due to low liquidity, stocks can have wild moves, especially in response to news. The following regular trading session will likely be significantly impacted by overnight violent moves. We are already witnessing wild moves in U.S. stocks in the early trade based on what happens in South Korea overnight. Now imagine wild moves overnight at NYSE and Nasdaq. Prudent investors should prepare in advance and strengthen their knowledge of risk controls. The Arora Report offers multiple layers of risk control. It is worthwhile for most investors to revisit the Trade Management Guidelines. For those who want next level knowledge, there is a new podcast series in Arora Ambassador Club titled “BRUTAL MATH: WHY SMART MONEY USES 11 LAYERS OF RISK CONTROL.”
On the positive side for the markets today, yields are pulling back. The reason is the Treasury could use its $1T general account, Treasury’s rainy day fund equivalent, for bond buybacks. We previously shared with you that after the initial euphoria on the Treasury’s buyback announcement, the move was faded by smart money. The reason was that the amount of the buybacks was not significant and there was concern that Treasury Secretary Bessent did not have enough fire power. In The Arora Report analysis, if the Treasury is willing to use the general account fund for bond buybacks, the Treasury has enormous firepower to direct the markets.
In The Arora Report analysis, the harder the Treasury tries to deal with the adverse effect of the $40T national debt without reducing the deficit, the more investors are convinced that the Treasury is trying to debase the dollar and are rushing into gold and bitcoin. In the long run, this is a big risk for the U.S. stock market that is generally not appreciated by the crowd at this time. Prudent investors should get ahead of the curve and be very mindful of this risk. The easiest way to deal with this risk is to follow the Arora Protection Band.
Bessent is saying that an “economic D-Day” is coming for Iran. In The Arora Report analysis, prudent investors should get ahead of the risk here that Iran could respond with more attacks on ships or Gulf countries. Again, the best way to manage the risk is to follow the Arora Protection Band.
In The Arora Report analysis, while investors need to be mindful of the risks, investors should also be open to the tremendous opportunities that the next phase of AI and other innovations will bring to investors.
As an actionable item, the sum total of the foregoing is in the Arora Protection Band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the Arora Protection Band. The Arora Protection Band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Apple (AAPL) and Nvidia (NVDA).

In the early trade, money flows are neutral in Amazon (AMZN), Meta (META), and Microsoft (MSFT).

In the early trade, money flows are negative in Alphabet (GOOG) and Tesla (TSLA).

In the early trade, money flows are negative in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade. Smart money is *** in the early trade.

Very Very Short-Term Indicator

Gold

The momo crowd is *** gold in the early trade. This is reflected in gold ETF (GLD), silver ETF (SLV), gold miner ETF (GDX), and silver miner ETF (SIL). Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The momo crowd is *** oil in the early trade. Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is seeing buying.

Markets

Interest rates are ticking down, and bonds are ticking up.

The dollar is stronger.

S&P 500 futures are trading at 7677 as of this writing. S&P 500 futures resistance levels are 7700, 7900, and 8000: support levels are 7318, 7194, and 7032.

DJIA futures are down 65 points.

Gold futures are at $4686, silver futures are at $69.22, and oil futures are at $85.54.

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Nigam Arora

Nigam Arora is known for his accurate stock market calls. Nigam is a distinguished master of the macro. He is a popular columnist with over 100 million page views, an engineer, and nuclear physicist by background. Nigam has founded two Inc. 500 fastest growing companies and has been involved in over 50 entrepreneurial ventures. He is the developer of Theory ZYX of Successful Change Management and is the author of the book on Theory ZYX, as well as the developer of the ZYX Change Method for Investing.

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