AlphaTrack – 06 Oct 2025

S&P 500 - Daily Chart

• SPX500 EMAs remain positive with 5-day EMA>10-day EMA.
• RSI remains above 50, suggesting an underlying positive momentum.

U.S. stocks looked set to extend gains Monday despite the government shutdown. S&P 500 and Dow futures rose 0.3%, Nasdaq 100 added 0.4%. Gold hit a record $3,955, oil climbed 1.5% after a modest OPEC+ hike, and 10-year yields edged to 4.16%. Bitcoin eased after weekend highs as traders navigated a “data vacuum” with payrolls delayed and inflation data at risk ahead of the Fed minutes.

Potential Trade Setups

1. Visa (V)

• EMAs have crossed positive with 5-day EMA>10-day EMA.
• RSI has pushed above 50, suggesting an underlying positive momentum.
• Resistance is at 353.40. A move above will be deemed as positive.

2. Novo Nordisk A/S (NOVO_B)

• EMAs have crossed positive with 5-day EMA>10-day EMA.
• RSI has pushed above 50, suggesting an underlying positive momentum.
• NOVO_B has charted a higher trough.
• A move above 398.25 will chart a higher peak, putting the stock into an uptrend on its daily chart.

3. AstraZeneca (AZN)

• EMAs have crossed positive with 5-day EMA>10-day EMA.
• RSI has pushed above 50, suggesting an underlying positive momentum.
• AstraZeneca spiked on 1 October after the FDA accepted its breast-cancer drug Enhertu for review, sparking optimism and a sector-wide rally in pharma stocks.
• This has resulted in a potential breakaway gap on its daily chart.

4. Chipotle Mexican Grill (GMG)

• CMG is a value play.
• It has declined 32% year-to-date.
• EMAs have crossed positive with 5-day EMA>10-day EMA.
• RSI has pushed above 50, suggesting an underlying positive momentum.
• The RSI will need to maintain over 50 for the stock to make meaningful headway.
• Menu catalyst: Chipotle’s limited-time Red Chimichurri sauce boosted optimism about fresh product innovation and same-store sales momentum.
• Valuation tailwind: Analysts noted CMG’s valuation has reset to decade-low multiples, sparking bargain-hunting and positioning for a potential rebound.

Hot News, Cold Logic

The AI-driven tech rally has investors asking how long it can last. Nvidia’s $4.5T valuation and OpenAI’s $500B highlight sky-high expectations. Bulls point to strong profits and relentless investment from Microsoft and Amazon, while sceptics warn euphoria is fading. The rally has spread beyond tech, but analysts now call AI’s risk-reward “unattractive,” suggesting investors may soon pivot elsewhere.

Final Thought

With gold at fresh records, Brent stuck in the mid-$60s, Japan ripping while Europe wobbles, and the Fed poised to cut again, markets look priced for a soft landing—yet still one geopolitical or growth shock away from a sharp repricing.