Chuck Hughes Weekly Market Update
Market Update & Trade Highlights
November 7, 2025
Hey everyone, Blaine Markham here from the Chuck Hughes Optioneering Team. Quick market check-in: The S&P 500 hit new highs last week but has pulled back a bit since then. Some sectors—especially consumer-facing ones—are in correction mode, but big tech stocks are still holding up the index. We saw a 1% drop today, which isn’t fun, but after a huge run-up last week, a pullback was expected.
Right now, the S&P is sitting at a key support level around 6,700–6,750. If it holds, we might see a bounce. The 50-day moving average is also acting as support, and short-term indicators show we’re getting oversold—so a “buy the dip” rally could be coming.
On the trade alert side, our Broadcom (AVGO) pick has been a winner, up nearly 150% since the initial trade. The stock’s been strong, especially with the AI boom. We’re watching for another chance to roll this trade over for new members.