This is a technical analysis of the stock and crypto markets as of October 11, 2025. The analysis points to a potential pullback. The S&P 500 is trading at 6552.52, with a target of 6400; failure above 6600 invalidates the analysis. The Nasdaq QQQ is at 589.50 with a target of 570 and a failure point at 600. MEME is at 9.47, target is 9, failing above 10. The VIX volatility index has a target of 30, failing at 15. ARKK innovation, currently at 86.52, has a target of 81, invalidation at 90. Long dated treasury bonds are the best performing asset class with a potential to consolidate. A continued downtrend means a rotation into working assets. The China large cap FXI has a target of 35 and it fails at 40. All risk-on sectors are bearish. There is a focus on rare earths plays, and the lithium and battery ETFs are coming off. There are discussions about sector breadth and various indicators and ETFs such as the SMH semiconductor ETF. Also some thoughts about specific companies as Idaho Strategic Resources.