TML Report January 9, 2026 – The NASDAQ Looks Poised to Break Out

Market Overview

The major indexes continued to make higher highs and higher lows this week. And the NASDAQ finally appears ready to break out and confirm the strength we’ve been seeing in the other three major indexes. The ultimate confirmation will be when the NASDAQ finally breaks above its prior all-time high, as the others have.

Taking the qualitative factors into account, meaning the overall health and breadth of the market’s leadership, things continue to improve. Rotation remains healthy, which is the key to a sustainable uptrend.

This is why I always say, just watch the leaders! So, keep your watch lists updated, set your alerts, and avoid forcing trades. Remember, “buying right” is your best defense. So do your homework, be selective with your entry areas, and keep your stops tight and logical. All that matters is risk management, and the money will follow.

Indexes

QQQ

The Nasdaq has pushed through its DTL and is once again finding resistance at the gap down from last November 4th. A break above here could lead to a rally to new highs, confirming the other three major indexes.

SPY

The S&P 500 continues to exhibit more strength than the NASDAQ and finished Friday's session at a new all-time high.

IWM

Russell 2000 closed at a new all-time high as small cap shares continue to lead the way higher.

DIA

The Dow isn't quite as strong as the Russell, but it just keeps plugging awayhealthy, constructive manner and making new highs not too far behind the small cap index.

Focus List

GOOGL

GOOGL has wedged up along the lows on declining volume over the past few days as it made new highs. A little shakeout below this wedge would be ideal before finally lasting higher.

APH

Leading fiber name APH has formed a healthy, constructive base over the last couple months and looks like it's setting up to break out to new all-time highs.

EOSE

EOSE is a wild one and far from my preferred personality as far as leading stocks go. However, if you can find your way into this one early up the right side with a tight logical stop, it may just be worth the volatility if you size it correctly.

APLD

APLD is another volatile name with wide ADRs. However, if sized correctly at just the right spot, this could add a lot of power to your portfolio. However, your tactic and position size will be critical to its success.

NAVN

In the chart below, I have marked key support and resistance levels that can be used as a guide for entry as NAVN's recent IPO base continues to develop.

NIQ

Recent IPO, NIQ, looks like it's on the way higher. A breakout from its current level looks like it will ultimately continue to a final breakout to new all-time highs and beyond.

GH

Leading healthcare name, GH, continues to form a healthy constructive base and looks like it's setting up to break out from here.

GILT

Leading Communications Equipment stock GILT looks like it is about done forming a healthy, constructive, cup-shaped base that began in late October and looks about ready to break out from current levels.

KTOS

KTOS continues to exhibit the price volume action of a powerful leader. However, a move from its 50-day moving average straight up off the bottom to a breakout to new all-time highs in this manner often leads to backing and filling before it ultimately continues higher. So, be selective with your entry and don't chase. All that matters is risk management. If you miss it, you miss it.

SN

SN has exhibited notable relative strength since November 2025. With a little more time, it looks like it's headed to new all-time highs, and likely a good bit higher.