{"id":231910,"date":"2025-10-07T09:30:00","date_gmt":"2025-10-07T13:30:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=231910"},"modified":"2025-10-08T03:52:38","modified_gmt":"2025-10-08T07:52:38","slug":"conviction-among-sellers-still-lacking","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/conviction-among-sellers-still-lacking\/","title":{"rendered":"Conviction among sellers still lacking"},"content":{"rendered":"\n<p><strong>Briefing.com Summary:<\/strong><\/p>\n\n\n\n<p>*The S&amp;P 500 is on a seven session winning streak.<\/p>\n\n\n\n<p>*A lack of selling interest has been influenced by talk of a melt-up into year end.<\/p>\n\n\n\n<p>*Dell has raised its long-term growth guidance.<\/p>\n\n\n\n<p>Seven Up&#8230; it&#8217;s a carbonated soft drink and it is also a catchphrase for the latest S&amp;P 500 winning streak. Coincidentally, that streak coincides with the government shutdown, which is now in day seven after another vote in the Senate on a continuing resolution failed to get the 60 votes needed for passage.<\/p>\n\n\n\n<p>The Senate will reportedly try again today, as will the stock market, which doesn&#8217;t look ready to stop trying for more record highs.<\/p>\n\n\n\n<p>Currently, the S&amp;P 500 futures are up six points and are trading 0.1% above fair value, the Nasdaq 100 futures are up 57 points and are trading 0.2% above fair value, and the Dow Jones Industrial Average futures are up 45points and are trading 0.1% above fair value.<\/p>\n\n\n\n<p>Those indications don&#8217;t connote a lot of buying conviction, but at this juncture, that isn&#8217;t the key consideration. The key consideration is that there still isn&#8217;t any selling conviction.&nbsp;<strong>Advanced Micro Devices (AMD)<\/strong>, which gained as much as 37% yesterday on its OpenAI partnership, is up another 5.0% in pre-market trading.<\/p>\n\n\n\n<p>The lack of selling interest has been influenced by talk of a melt-up into year-end, by rate-cut optimism, by AI enthusiasm, and by experience, as every dip (intraday or otherwise) gets bought.<\/p>\n\n\n\n<p><strong>Dell (DELL)<\/strong>&nbsp;is supporting the non-selling cause, having increased its long-term guidance at a securities analyst meeting. Dell now expects to deliver 7-9% annual revenue growth, versus prior guidance of 3-4%, and 15%+ EPS growth, versus prior guidance of 8% or better. That is a comforting combination that has the stock up 6.7% in pre-market action.<\/p>\n\n\n\n<p>Dell&#8217;s strength is a boon for the S&amp;P 500 information technology sector and the Nasdaq 100 futures, yet buyers in aggregate are treading lightly ahead of the open, taking in the news that&nbsp;<strong>Intercontinental Exchange (ICE)<\/strong>&nbsp;will invest up to $2 billion in Polymarket, that&nbsp;<strong>Constellation Brands (STZ)<\/strong>&nbsp;posted better-than-feared results, that&nbsp;<strong>IBM (IBM)<\/strong>&nbsp;is partnering with Anthropic in an enterprise deal, that&nbsp;<strong>Ford (F)<\/strong>&nbsp;and other automakers will face production issues after a fire at a key aluminum supplier, and that the U.S. is investing $35.6 million for a 10% stake in&nbsp;<strong>Trilogy Metals (TMQ)<\/strong>.<\/p>\n\n\n\n<p>The August Trade Balance Report will be delayed due to the government shutdown, so the market&#8217;s attention will shift to the New York Fed&#8217;s September Survey of Consumer Expectations at 11:00 a.m. ET, the $58 billion 3-yr note auction results at 1:00 p.m ET, the August Consumer Credit Report (Briefing.com consensus: $13.1 billion; prior $16.0 billion) at 3:00 p.m. ET, and comments from various Fed officials, including uber-dovish Fed Governor Miran (FOMC voter), throughout the day.<\/p>\n\n\n\n<p>Market participants, therefore, will have plenty of things to keep themselves occupied over the course of today&#8217;s trading, but the focal point will be the price action and whether it persists in keeping sellers at bay.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted October 7, 2025 &#8211; <a href=\"https:\/\/www.briefing.com\/page-one\">Conviction among sellers still lacking<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The S&amp;P 500 is on a seven session winning streak. A lack of selling interest has been influenced by talk of a melt-up into year end.<br \/>\nDell has raised its long-term growth guidance.<\/p>\n","protected":false},"author":60,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[18,6,8,9,22,26,3],"tags":[],"contributors-categories":[13589],"class_list":{"0":"post-231910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-macro","7":"category-north-america","8":"category-region","9":"category-securities","10":"category-stocks","11":"category-text-articles","12":"category-traders-insight","13":"contributors-categories-briefing-com"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Conviction among sellers still lacking | Traders&#039; Insight<\/title>\n<meta name=\"description\" content=\"The S&amp;P 500 is on a seven session winning streak. 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