TML Report October 28, 2025

Market Overview

The major indexes have made new all-time highs each of the last three days except for the small-cap Russell 2000, which held up near its highs and moved sideways in a tight range. However, given that three of the four major indexes are a bit stretched off of their short-term 10-day SMAs, a bit of backking and filling would be normal here.

The health and breadth of the market’s leadership remain robust. Semiconductor names continue to exhibit notable strength, including AMD, NVDA, and AVGO. Cybersecurity, enterprise software, and biotech stocks continue to show relative strength as well.

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 gapped up, rallied for the rest of the day, and finished near session highs.

SPY

Just like the NASDAQ, the S&P 500 gapped up, rallied for the rest of the day and finished near session highs.

IWM

The small-cap Russell 2000 also gapped up at the open rallied for the remainder of the session and closed near its high for the day, just a bit below its prior all-time high.

DIA

The DOW rallied powerfuly with the other major indexes this afternoon and finished the session just. slightly below its prior all-time high.

Focus List

TSLA

TSLA shook out constructively below its short-term moving averages last Thursday and has continued to make upside progress since, finishing today’s session at a new closing high. It’s now just a tad away from making a new 52-week high and not too far from its prior all-time high of $488.54 from 12/18/24.