The Monday Morning Playbook: Week of November 3, 2025

Good morning,

This week, we’re giving some airtime to the bears.

To be clear, Brown Technical Insights is bullish and positioned as such in models. The title of last week’s Playbook was literally “Keep your foot on the gas,” and I’ve got a stat today that will show why it is almost impossible to bet against momentum this time of year.

But the bear case isn’t non-existent.

Today I’m going to lay out the one breadth metric that actually matters, why rotation is more important than ever, and when it could be time to take a more cautious stance in our models.

This week’s report will also review:

• Mag 7 earnings reactions

• Key support and resistance levels for the S&P 500

• November seasonality

• ETF movers

• and more!