SpaceX Hasn’t Launched Yet and It’s Already Taking the Market Down

This week on Stock Market Weekly (Episode #835), we cover SpaceX Hasn’t Launched Yet and It’s Already Taking the Market Down. We also break down the S&P 500, Nasdaq 100, Russell 2000, and the sectors and themes driving price action.

In this week’s episode

After nine straight weeks higher, markets finally hit a sharp risk-off reversal as semiconductors, high-beta leaders, and crypto all came under heavy pressure. This week’s episode breaks down whether Friday’s flush was a healthy reset after an overheated run or the first warning shot of a deeper pullback.

We review key levels in SPY, QQQ, SMH, and Bitcoin, plus the message from yields, the dollar, defensives, and sector rotation. The focus is simple: stay alert, respect the damage, and prepare for opportunity if support holds.

Video episode timestamps

• 0:00 Introduction – Key Events From This Week’s Trading
• 1:31 Why the Market Sold Off This Week
• 3:30 SpaceX IPO and the Liquidity Drain
• 5:16 Jobs Report and Fed Rate Expectations
• 6:05 Semiconductors Worst Day in a Decade
• 7:24 Is This the Top? October 2025 Analog
• 8:40 Weekly Market Scorecard
• 10:42 Chart Analysis Begins
• 11:56 Market Environment Dashboard
• 13:30 Sector Rotation and What’s Holding Up
• 14:43 Mag 7 Signals Deteriorating
• 16:08 $SPY and $QQQ Key Levels to Watch
• 19:01 $SMH Support Levels and Downside Targets
• 20:28 $MU Pullback Targets and Gap Fills
• 22:03 VIX, $GLD, and $SLV Under Pressure
• 22:46 Defensive Sectors: XLV, XLU, XLRE
• 23:07 Bitcoin Capitulation or Lower Lows?
• 25:06 Ethereum and Solana Chart Damage
• 26:22 Portfolio Results: Galahad and Quant Rockets
• 27:17 Outlook and What to Watch Next Week

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