Active Investing Edge Mentoring for September 2, 2026

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TITLE: Market Weakness, Breadth, And Breakout Setups (09-02-2026)

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VIDEO SUMMARY: (FIRST POV Geoff)

Geoff examined a fragile but potentially stabilizing market backdrop through the S&P 500, Nasdaq, equal-weighted S&P 500, semiconductors, bonds, and crude oil. He emphasized the importance of RSP weakness alongside SMH’s 540 support level, explaining that broad index declines without higher crude or lower bonds would signal deeper internal problems. Geoff contrasted defined SPY support with less certain Nasdaq support and highlighted XLI’s deterioration as a significant economic and earnings warning if it eventually breaks its 200-day average. He then reviewed sector strength in energy, healthcare, biotechnology, and large-cap technology, while noting weakness in industrials, transportation, and financials. Geoff assessed Dell and Palo Alto Networks after earnings, stressing price confirmation over headline results. In individual setups, he discussed confirmation-based entries and risk levels for MSI, Merck, Amazon, Apple, Nvidia, Robinhood, CF, FCX, and others. He concluded that bullish opening-range breakouts, falling volatility, stable bonds, and improving breadth could support buying opportunities.

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SESSION HIGHLIGHTS:

1. [00:00:00] Futures Signal Uneven Market Risk: Geoff compared the S&P 500, Nasdaq, RSP, SMH, TLT, and USO, identifying divergent support conditions and explaining why semiconductors and equal-weighted breadth were central to judging market health.
2. [00:13:52] ETF Support And Market Scenarios: Geoff mapped support and resistance on SPY and the Qs, distinguishing stable-market behavior from acceleration lower and stressing that the manner of a decline mattered as much as its direction.
3. [00:22:11] Sector Breadth Reveals Internal Weakness: Geoff reviewed utilities, energy, healthcare, semiconductors, industrials, transportation, financials, and large-cap technology, showing where strength remained and why XLI’s longer-term support was important.
4. [00:33:00] Earnings Reactions Need Confirmation: Geoff evaluated Dell’s muted response to strong earnings and Palo Alto Networks’ weaker reaction, explaining why subsequent price action, consolidation, and movement away from the open mattered more than headlines.
5. [00:37:15] Opportunity Report Trade Setups: Geoff reviewed potential setups in MSI, Merck, Amazon, Apple, Palantir, Nvidia, Robinhood, CF, FCX, and related names, emphasizing close-and-continue patterns, defined entries, support, and disciplined stops.
6. [00:48:52] Relative Strength And Intraday Confirmation: Geoff used SMH, the Qs, Nvidia, MAG7, SPY, RSP, IWM, VIX, TLT, and USO to frame bullish confirmation, concluding that opening-range breakouts and improving breadth could justify buying the dip.