TML Report -December 13, 2025

Market Overview

It’s incredible how quickly things can change in just two days. Between Wednesday and now, the health and breadth of the market’s leadership have gone from healthy, broad, and promising to narrow and bleak.

In stark contrast to Wednesday, Friday’s focus list was cut in half, and I was pushing it to come up with stocks to discuss. It was much more a list of what’s holding up than what’s setting up.

I was long six names on Wednesday and now hold only one, TSLA, which closed well on Friday. However, I could easily be forced out of this position next week as well.

Until the major indexes regain their footing and leadership improves, I will keep exposure to a minimum, even if that means holding cash.

Indexes

QQQ

The NASDAQ fell 1.69% on heavy volume Friday, but managed to find support at its 21-day SMA for now. Next week will be telling.

SPY

Just like the NASDAQ, The S&P 500 fell on heavy volume Friday, but it only fell only 1.07% and found support at its 23-day EMA, higher up in its pattern.

IWM

The Russell 2000 sold off on heavy volume Friday but continues to trade above its prior all-time high, however slightly.

DIA

The DOW fell on Friday with the rest of the market, but managed to close above its prior all-time high, like the Russell 2000.

Focus List

TSLA

TSLA defied the general market's weakness on Friday and looks like it's trying to break out above its current consolidation.

GOOGL

GOOGL was one of the few big-cap tech names that continued to exhibit clear relative strength on Friday, even though it too closed lower.

TVTX

TVTX is a liquid, high qulaity biotech name that looks like its setting up for higher prices.

GH

Leading healthcare name GH, looks like its setting up to move higher from here, depending on how things shape up.

AUPH

AUPH is a smaller, yet very profitable biotech leader that looks like its setting up to go higher.