MomentumOptions.com Pre-Market Update for 11/10/2025
Bears Crack 50-Day MA’s
The major indexes tested backup support levels to close out last week with the Nasdaq and the S&P holding their 50-day moving averages on Friday. The intraday reversal also eased volatility which had spiked above key resistance as the market was hitting fresh monthly lows.
The Nasdaq traded down to 22,563 while ending at 23,004 (-0.2%). Support at 22,500 held. Resistance is at 23,500.
The S&P 500 settled at 6,728 (+0.1%) after bouncing off a low of 6,631. Support at at 6,600 held. Resistance is at 6,750.
The Dow tapped a low of 46,495 before closing at 46,987 (+0.2%). Support at 46,500 was stretched but held. Resistance is at 47,250.
Earnings and Economic News
Before the open: Pagaya Technologies (PGY), Instacart (CART), Venture Global (VG)
After the close: CoreWeave (CRWV), Rigetti Computing (RGTI), Plug Power (PLUG)
Economic News
None
Technical Outlook and Market Thoughts
For the week, the Nasdaq was down 3% and the S&P fell 1.6%. The Dow dipped 1.2% while the Russell was off 1.3%. Year-to-date, the Nasdaq has rallied 19% and the S&P has jumped 14.4%. The Dow is higher by 10.4% and the Russell has gained 9%, for 2025.
The bears did some technical damage last week but the bull held backup support levels on a dime before leading a strong second half rebound on Friday. Nvidia (NVDA) fell 7% for the week and had the biggest impact on the overall market as it is a heavily weighted index stock.
Meta Platforms (META) and Microsoft (MSFT) were also down 4% for the week with the latter joining the former in officially closing below its 50-day moving average. Meta is testing May support levels and Microsoft is right at key support from early September.
The Russell 2000 bottomed out at 2,380 on Friday with mid-September and key support at 2,375 holding by a nickel. Closes below this level would suggest downside pressure towards 2,339-2,275.
Key resistance is once again at 2,475 but closes above 2,500 ate needed to ease some of the selling pressure.
The Nasdaq kissed an intraday low of 22,563 and hit our 4% downside target coming into last week. Key support is at 22,500 and the 50-day moving average were cracked but levels that held. We mentioned there was further weakness down to 22,000 that would have represented a 6% pullback and remains in play if Monday’s remains weak.
Key resistance at 23,500. A close above this level gets 24,000 and the recent all-time high at 24,019 back in play.
The S&P 500 hit a low of 6,631 with mid-October and upper support at 6,650-6,600 and the 50-day moving average getting cracked but levels that held. Closes below the latter could lead to selling pressure down to 6,500-6,350.
Resistance is at 6,750-6,800 and the bottom of the current uptrend channel. Closes above 6,850 would suggest another near-term bottom is in.
The Dow fell a nickel below key support at 46,500 but easily held its 50-day moving average on Friday. We highlighted closes below this level could lead to a further fade to 45,750 and that is still the case.
Resistance is at 47,250-47,500. Closes above the latter would be a more bullish signal for a return trip towards 47,750-48,000 with the October 29th all-time peak at 48,040.
The Volatility Index (VIX) spiked to a high of 22.72 but miraculously stayed below 20 into Friday’s close. We have been a broken record saying closes above 20-24 would be a very bearish development for the stock market and we will continue to watch these levels going forward.
Support is at 17.50-17 the 50-day moving average following the close back below the 200-day moving average. A close below the latter could imply weakness to 16-15.50.
The relative strength indexes (RSI) for the major indexes are hovering around the 50 level and is typically a neutral reading. The late October highs pushed 70 and overbought conditions and last week’s losses reset this indicator once again.
As we head to press, there is news the government shutdown could come to a end this week as a bipartisan agreement is said to be coming together. Although it could pass the Senate on a procedural vote, it would still need to get through a House vote.
In any event, futures are showing a higher open for Monday. We could have new Alerts after closing two more winners on Friday. The Teva Pharmaceutical Industries (TEVA) December 24 calls skyrocketed 275% while the Rivian Automotive (RIVN) December 15 calls jumped 60%. This pushes our directional alerts track record to 49-14 for a 78% win rate.
We have updated our current Alerts so let’s go check the action.
Momentum Options Alerts Update
Closed Momentum Options Trades for 2025: 49-14 (78%, 17 triple-digit winners) / 2024: 77-17 (82%, 38 triple-digit winners). Please remember, all “Exit Targets” and “Stop Targets” are targets. You should not have any “Stops” entered to close any alerts or “Limit Orders” in your brokerage account unless we list one. We will send out an “Alert” or “New Alert” if we want you to close a position or if a new position comes out. Otherwise, follow instructions at all times in the updates on Monday’s and Thursday’s along with Text Alerts and videos throughout the week.
Rani Therapeutics (RANI, $2.02, down $0.25)
Option: RANI December 5 calls
Expiration Date: December 19th, 2025
Entry Option Price: 25 cents (11/5/2025)
Current Option Price: $0.15
Exit Target: $0.50
Return: -40%
Stop Target: None
Option: RANI April 5 calls
Expiration Date: April 17th, 2026
Entry Option Price: 38 cents (11/5/2025)
Current Option Price: $0.35
Exit Target: $0.80
Return: -8%
Stop Target: None
Action: Upper support at $2-$1.75 was tripped but held with Friday’s low at $1.83. Resistance is at $2.50-$2.75.
Rani Therapeutics had no revenue until this year and in its latest earnings update it reported a better-than-expected loss but no revenue. The all-time high hit $36.27 on 11/15/21 and shares recently shot up 51% in one session. A golden-cross is in play. If $2.75 clears, there is gap up potential to $4, followed by $6-$7. High risk/ reward as the options will expire worthless if shares remain below $5 into December and April.
The company is developing a proprietary oral delivery technology intended to enable drugs that are injected, to instead be taken orally. This could mean NO MORE SHOTS for many drugs. Any update or approval could send shares zooming.
Lyft (LYFT, $22.04, up $0.79)
Option: LYFT November 25 calls
Expiration Date: November 21st
Entry Option Price: $0.70 (10/14/2025)
Current Option Price: $0.20
Exit Target: $1.40
Return: -71%
Stop Target: None
Action: Key resistance at $20 and the 50-day moving average were recovered on the rebound to $20.43. A close above $21.25 would be a more bullish development for strength up to $23.50. Support is at $19.25-$19.
These options expire in 11 days and we are going to need to see ongoing strength this week. If shares closes back below $19.50, exit the Alert to save the remaining premium.
Hertz Global Holdings (HTZ, $6.58, up $0.40)
Option: HTZ November 9 calls
Expiration Date: November 21st
Entry Option Price: $0.65 (9/25/2025)
Current Option Price: $0.15
Exit Target: $1.30 (Limit Order)
Return: -77%
Stop Target: None
Action: Friday’s peak reached $6.70 with lower resistance at $6.50-$6.75 getting reclaimed. Support is at $6 and the 50-day moving average.
There was a massive short-squeeze like we predicted after earnings and we said the technical setup was also improving with the 50-day moving average leveling out. Last Wednesday’s ongoing volatility is the current short covering battle but we are running out of time with this Alert, as well.
