Market Pulse Weekly: S&P 500, NASDAQ 100, and IBIT BTC / Bitcoin
End of Week: Friday, October 31, 2025
SPX (S&P 500)
Market Regime: Uptrend
Weekly Consideration: Buy (effective Monday, November 3, 2025, at the open)
Brief:
The S&P 500 demonstrated underlying strength this week, closing higher than the previous Friday and maintaining its overall bullish posture. The price action confirmed positive momentum, leading to a Buy consideration for the start of the next week. As the week marks the end of October, the index concluded the month on a strong note, solidifying a month of consistent, if cautious, advance.
NDX (NASDAQ 100)
Market Regime: Uptrend
Weekly Consideration: Buy (effective Monday, November 3, 2025, at the open)
Brief:
The NASDAQ 100 experienced a solid week, with the Friday close confirming a weekly gain and reinforcing the existing bullish regime. This intermediate upward impulse signals a continued favorable market environment for the technology-heavy index, resulting in a Buy consideration. The strong finish helped the NDX post a significant gain for October, confirming robust sentiment and participation throughout the month.
IBIT (iShares Bitcoin Trust / BTC)
Market Regime: Downtrend
Weekly Consideration: Sell/Hedge (effective Monday, November 3, 2025, at the open)
Brief:
IBIT, tracking the underlying Bitcoin price, displayed weakness this week, closing lower than the previous Friday. This price action, occurring within a defined bearish posture, triggers an intermediate downward impulse signal, prompting a Sell/Hedge consideration. The weekly decline resulted in a pullback to finish the month of October, suggesting renewed caution among participants after a period of volatility.
Macro Summary
Broader market activity was influenced by continued attention on central bank communications, which remained data-dependent and measured. Inflation expectations remained a dominant factor, keeping Treasury yields stable but elevated—acting as a minor headwind for rate-sensitive sectors but providing a backdrop of stability for the broader indices.
Global commodity prices saw mixed movement, but volatility generally remained compressed, reflecting a market that is largely trading on corporate fundamentals and domestic policy outlooks rather than significant external shocks.