🚨 URGENT: Don't Say I Didn't WARN YOU! [SELL OFF?] GOLD Hits a NEW ATH as Stocks DROP on Inflation

The market snapped a 7-day win streak, with technology stocks like Microsoft, Nvidia, Apple, Google, and Meta experiencing significant sell-offs. Consumer staples, healthcare, utilities, financials, and energy showed some positive movement, while consumer discretionary and technology sectors were down. The S&P 500 dropped over 38 basis points, NASDAQ 100 over half a percent, and other indexes also closed lower. October's S&P 500 performance remains positive but is showing early signs of weakness.

Trilogy Metals (TMQ) soared over 211% after the US government took a 10% stake, and NVIDIA pushed up 6.8% due to a multi-year AI computing deal. Tesla dropped 4.4% following the launch of a more affordable Model Y and Model 3. Gold hit a new all-time high above $4,000 per ounce, with the speaker emphasizing its long-term potential as a capital preservation asset amidst money printing and quantitative easing, citing Ray Dalio's recommendation for a 15% gold allocation in portfolios.

A New York Federal Reserve report indicated that one-year inflation expectations among consumers rose to 3.4% and five-year expectations to 3%, signaling worsening inflation outlooks. Labor market expectations are also deteriorating. The Federal Reserve's policy approach is debated, with the speaker suggesting a 'proactive on the way up, reactive on the way down' strategy for interest rates to effectively manage inflation and economic support.

The earnings season is commencing, with banks reporting first in mid-October, followed by major tech companies like Tesla, Apple, Microsoft, and Google towards the end of the month. In cryptocurrencies, Ethereum dipped below $4,500, rejected at its resistance of $4,750, with support around $4,000. Bitcoin maintained support at $120,000 to $117,000, with resistance up to $125,000-$126,000.

S&P 500 and NASDAQ show potential for healthy pullbacks. Apple is consolidating sideways with strong support at $249. Amazon also consolidates, with support at $215-$216. Tesla is rolling over, finding strong support around $429-$430. Nvidia continues to validate support at $183-$184. Advanced Micro Devices (AMD) shows potential for further upside to $290-$300. Oracle is sliding further down to support at $275-$276. Palantir struggles at resistance, with support at $174. Meta Platforms has strong support at $678-$691 and is oversold according to RSI and MACD. Netflix is up 2% with resistance at $1230. Google and Microsoft are consolidating sideways within their respective trading ranges.