Cash vs Price: October 26 Morning Watch
Completed October 23 regular-session charts are compared with a separately recorded October 26 premarket snapshot for SPY, QQQ, Western Digital, Bloom Energy and Newmont. Premarket prices are observations, not completed daily candles or continuously updated quotes. Share prices below are displayed to two decimal places; the video rounds them for natural speech.
Friday's session left a split picture. SPY slipped, the Qs finished nearly unchanged, and WDC, Bloom and Newmont closed lower after their earnings reports. The early Monday prints bounced for all five, but those bounces do not by themselves repair the dated daily levels.
SPY: a tentative lift above Friday's close
SPY closed Friday at $759.97, below its 20-day average of $770.15 and 50-day of $767.81. The recorded premarket print was $762.64, or 0.35% above that close. Friday's intraday low of $758.68 is the nearby downside test; a daily reclaim, retest and close above the 50-day would strengthen the recovery case. The 200-day at $727.01 is broader context, not the immediate hurdle. Friday's share volume was below its prior 20-session daily average, a comparison of shares traded rather than proof of buying pressure.
QQQ: testing Friday's high after a deeper decline
The Qs closed Friday at $704.40, after trading from $701.16 to $709.30 intraday. Their recorded premarket print was $708.76, near but below Friday's high. The 20-day and 50-day averages were $735.24 and $725.81; the 200-day was $677.30. A completed daily close above Friday's high would strengthen the short-term test, while a fall back toward Friday's close would weaken it. The October 6-to-16 closing decline, the separate rebound through October 21, and Friday's lower close should be read as separate moves.
Western Digital: cash generation versus price repair
Western Digital reported fiscal first-quarter revenue near $4.40 billion, operating cash flow near $1.60 billion, and company-defined free cash flow near $1.40 billion. Its next-quarter revenue guide of $5.00 billion-$5.20 billion is a forecast, not completed sales. Shares closed Friday at $343.67, down 2.97% on the session, with share volume about 50% above the prior 20-session daily average. The recorded premarket print was $350.36, below Friday's $360.66 high. Friday's $339.55 low is the nearby downside level. The 200-day near $414.65 and 50-day near $433.00 remain overhead.
Bloom Energy: growth with a cash-flow question
Bloom reported September-quarter revenue near $1.20 billion, more than double a year earlier, and raised full-year revenue guidance. Operating cash flow was negative by about $27 million, while property and equipment purchases were about $153 million. Bloom fell 11.24% Friday to $193.30 on more than twice its prior 20-session average share volume. The recorded premarket print of $198.15 was above that close but below Friday's $206.00 high. Friday's $189.00 low is the immediate downside reference. Its 200-day near $219.29 and 50-day near $248.30 remain above; a daily reclaim and retest would be more meaningful than an early bounce alone.
Newmont: cash strength and a 200-day test
Newmont reported September-quarter operating cash flow near $2.80 billion and company-defined free cash flow near $1.90 billion. Gold production declined from a year earlier, so the cash result should not be read as higher production volume. Shares closed Friday at $108.87, down 4.59%, with share volume about 45% above its prior 20-session daily average. The recorded premarket print was $111.17, still beneath the 200-day average of $112.45. A daily reclaim, retest and close above that average would be the first chart repair; the 20-day at $115.58 and 50-day at $121.67 are higher tests.
The week ahead
The Federal Reserve meets Tuesday and Wednesday. The advance third-quarter GDP estimate and September personal income and outlays, including PCE, are scheduled for Thursday. Those are future releases, not known results. We will judge these setups against completed daily closes.
The volume-at-price bars on the five price charts are estimates from completed daily OHLCV distributed across each candle's range. They are not native TradingView Visible Range Volume Profile data, actual prints at each price, evidence of buy/sell direction or guaranteed support and resistance. All premarket observations are separate from completed October 23 candles. This is market research only, not a recommendation to buy or sell.
Sources: Nasdaq quote pages, Western Digital results, Bloom Energy results, Newmont results.
More dated charts: Daily Levels. Watch the October 26 Morning Watch video.