Market Pulse Weekly: S&P 500, NASDAQ 100, and IBIT BTC / Bitcoin
End of Week: Friday, November 7, 2025
SPX (S&P 500)
Market Regime: Uptrend
Weekly Consideration: Hold (effective Monday, November 10, 2025, at the open)
Brief:
The S&P 500 experienced a week of pullback, closing lower than the prior Friday. Despite this cooling, the broader market regime maintains its uptrend classification, suggesting that the recent down move represents consolidation or a temporary pause in momentum rather than a structural reversal. The numeric signal indicates maintaining current positions.
NDX (NASDAQ 100)
Market Regime: Uptrend
Weekly Consideration: Hold (effective Monday, November 10, 2025, at the open)
Brief:
The technology-heavy NASDAQ 100 closed the week on a lower note, aligning with a broader market retreat from recent highs. Although the instrument registered a down week, it remains technically supported within a defined uptrend regime. The weekly signal is a Hold, advising against aggressive action following the short-term decline.
IBIT (iShares Bitcoin Trust)
Market Regime: Downtrend
Weekly Consideration: Sell (effective Monday, November 10, 2025, at the open)
Brief:
IBIT registered a second consecutive weekly close below the previous week’s price, confirming an intermediate downside impulse within a technical downtrend regime. This renewed downward pressure suggests that the path of least resistance remains lower, resulting in a Sell consideration for the upcoming trading week.
Macro Summary
The broader market backdrop for the week was characterized by a cautious tone, driven by a sharp sell-off in technology and risk assets that led to elevated volatility levels. Investors exercised restraint as they anticipated the upcoming U.S. jobs report.
Major equity indices pulled back from prior strength, reflecting a temporary sentiment shift amid heightened uncertainty. Realized volatility remained elevated across the equity space, underscoring the market’s reactive posture heading into the next data cycle.