Steve Miller on $AMAT (Oct 31, 2026)
Applied Materials is very negative technically: strong weekly negative momentum makes its cycle nearly invisible, with a negative arrow below the cycle signaling a decline through February. The speaker expects a drop sometime in November, then a bounce attempt and likely another sell-off, in line with his market view.
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Let's take a quick look at AMAT stock. We will look at these stocks . And you can see here, look at these negative images where the arrow drops below that cycle. This indicates a decline here through February in Applied Materials.
You can see this course here where there was almost no elevation gain in this area. What happens is that when the negative momentum is very strong on the weekly chart, you will sometimes notice that the cycle becomes almost invisible due to the large downward pressure, and that is what is happening to us now.
Again, these are our own indicators , the Slim Ribbon PO indicator , and the Level 4 Options Trend indicator . So, you might want to take a look at our Level 4 memberships. Ah, so you have negative momentum here at Applied Materials.
This tells me that the stock will probably drop here sometime in November, which is consistent with what I see in the stock market, and then there will be a bounce attempt and likely another sell-off.
So, Applied Materials is very negative when you look at it.
What this channel has said about $AMAT
Steve Miller has 3 calls on this stock; only the adjacent ones are shown.