2026-10-28

Wed, 28 Oct 2026 21:00:00 GMT

Two names I had flagged as potential setups moved today: NTRA and CAI.

CAI put in a run of very tight days under the resistance line before it broke. Volume on the breakout is lighter than I would like, so I am not fully convinced yet. Time will tell.

CAI daily. Tight days under resistance, then the break on light volume.

NTRA set up with a series of tight inside days and then fired. The volume profile is healthier than on CAI, but nothing exceptional.

NTRA daily. Tight inside days, then the move.

CART is the most interesting of the three. It is coming out of a base that goes back to early 2025. Worth watching what it does from here.

CART daily. Breaking out of a base that goes back to early 2025.

Restaurant and food names show a similar pattern, SG among them. Genomics (TXG) and biotech (FTRE, SDGR, NRIX, KYMR) have found footing over the last few days, and the group ETFs tell the same story. XBI is pressing into its 50 SMA after a shakeout, and ARKG is back above the AVWAP from the October swing high.

XBI daily. Pressing into the 50 SMA after a shakeout below it.

ARKG daily. Back above the AVWAP from the October swing high.

The Nasdaq has broken its descending trendline but is meeting resistance at the 50 SMA and the AVWAP from the swing high. Not through yet.

QQQ daily. Through the descending line, into the 50 SMA and the AVWAP from the swing high.

Leadership is unchanged: software, cybersecurity and energy, even after a rough day for VLO yesterday, with parts of biotech joining. CART and SG hint at a food and restaurant group forming, but it is early.

tickerstance

2026-10-28