Today – 10/02/26 of the three main U.S. stock indices; Nasdaq Composite (IXIC), S&P 500, and Dow Jones Industrial Average, only IXIC made a new all-time high.
Of the eleven “State Street Sector” ETF’s only the technology sector – ETF (XLK) made a new all-time high.
This narrow section of stocks could be signaling a very important U.S. stock market peak.
This website prior blog noted.
“If XLK on 10/02/26 makes a new all-time high unconfirmed by IXIC, SPX, and DJI it could signal an important U.S. stock market peak”.
The IXIC confirmation of the XLK new high does not alter the bearish outlook for the broader U.S. stock market.
The daily IXIC and XLK charts courtesy of Trading View updates their relationship.
Something curious happened with IXIC on 10/02/26, please note that since mid-June 2026 there have been seven gap up sessions. All six of the prior gap days had closing session levels above the opening session level. Of the six gap days, four had relatively large increases intraday.
On 10/02/26 IXIC ended the session below its gap open level. The bulls where not able to maintain upward momentum.
Please note on 10/02/26 – XLK also ended its session below the opening gap level.
There’s a good chance both IXIC and XLK have down sessions on 10/05/26.
The evidence illustrated in this blog is just the tip of a bearish iceberg. More is coming soon!
