TML Report October 13, 2025

Market Overview

Tariff threats of 100% on China last Friday sent the market into a bit of a tailspin. The major indexes all closed near session lows on heavier volume. However, the NASDAQ opened above its 21-day SMA and held above throughout the session.

The health and breadth of the market’s leadership remain robust. Traditional growth names recovered and reclaimed key support along with the NASDAQ, many continuing to new all-time highs, including the high-flying quantum names, such as RGTI, QBTS, and IONQ. A glance at Deepvue’s daily theme tracker drives this point home.

Remember, patience and selectivity with 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 reclaimed its 21-day SMA today, on the heels of last Friday’s sharp selloff. This portends well for the general market uptrend. A second close below this key moving average would have been a red flag.

SPY

The S&P 500 wasn’t quite as strong as the NASDAQ. It closed below the 21-SMA, but above the 21-day EMA. However, this is not a significant concern.

IWM

The small-cap Russell 2000 exhibited the most strength, given that it reclaimed all of its shorter-term key moving averages, including the 10-day SMA.

DIA

The DOW was the only major index to close below all of its key shorter-term moving averages, including its 23-day EMA

Focus List

TSLA

TSLA bounced at its 23-day EMA and reclaimed its 21-day SMA, but finished a hair below the confluence of its 10-day SMA and its declining tops trend line.