Market Expectation Breaker; Apple, Eli Lilly, Cheesecake Factory In Focus | Stock Market Today

Friday's sharp reversal broke bullish technical setups across SPY, NASDAQ, and leading growth stocks, triggering rotation into defensive names.

• SPY expectation breaker: After a bullish upside reversal Thursday at the 50-day line, SPY closed below both 21-day and 50-day Friday — Webster calls this a 'negative expectation breaker,' needing one more confirming day for a downtrend signal.
• NASDAQ breaks decisively: NASDAQ composite sliced through key support levels (27,066 and 26,707) and closed near lows, with next downside target at 25,802; IWM small caps fell 3% below the 200-day.

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