TML Report October 6, 2025

Market Overview

The major market indexes continue to make new highs, leadership is broad, and the rotational process is healthy. Additionally, there are no concerning clusters of distribution on the NASDAQ or S&P 500.

The health and breadth of the market’s leadership are robust, as the major indexes continue to move higher. Semis are strong, and quantum names have been on fire. While it’s a small group, drone-related stocks continue to stand out as well.

As volatility is no stranger, patience and selectivity when it comes to our entries make all the difference, especially when it comes to managing risk. Like I always say, buying “right” is your best defense. So, watch the leaders, wait for sound setups to form, and most importantly, manage risk first, and the profits will follow.

QQQ

The NASDAQ continued higher and finished the session at a new all-time high.

SPY

Just like the NASDAQ, the S&P 500 continued higher this afternoon and finished at a new all-time closing high.

IWM

The small-cap Russell 2000 closed at a new all-time high today, finally confirming the highs in the other three major indexes.

DIA

The Dow was the only major index to finish the session lower, albeit slightly. However, it finished in the upper half of its range for the day, which is indicative of accumulation.

Focus List

TSLA

TSLA swiftly reclaimed its 10-day SMA and prior pivot today, after a shakeout to its 21-day SMA on Friday. Watch TSLA’s action around the confluence of these two key support areas.