Afternoon Note
Like Friday, stocks bolted out of the gate, but couldn’t seduce enough money off the sidelines to prevent some stalling and drifting. That’s the nature of breakouts, especially one that’s trying to happen on such a consequential week.
And there will be other extenuating inputs into the market this week from updates on China trade negotiations to updates on manufacturing and additional economic data.
But just like Friday, there continues to be rotation out of defensive safe havens Consumer Staples, Real Estate and Utilities into a mix of momentum names via Technology, and value with the action today in Health Care.
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S&P 500 Index |
+0.57% |
|
|
Communication Services (XLC) |
+1.21% |
|
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Consumer Discretionary (XLY) |
+0.28% |
|
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Consumer Staples (XLP) |
-0.34% |
|
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Energy (XLE) |
-0.64% |
|
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Financials (XLF) |
+0.63% |
|
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Health Care (XLV) |
+1.12% |
|
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Industrials (XLI) |
+0.31% |
|
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Materials (XLB) |
+0.15% |
|
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Real Estate (XLRE) |
-0.86% |
|
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Technology (XLK) |
+1.08% |
|
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Utilities (XLU) |
-0.79% |
Leader of the Pack
Tech is higher, but it’s not the names you’re thinking of. Those big names that dominate headlines have been struggling, but semiconductors are on fire powering the SOXX to an all-time high. The move came after Lam Research (LRCX) posted an amazing beat, negating disappointing results from Texas Instruments (TXN). The index finally broke out after failing in July and September. I say ride that wave.

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SOXX Top 10 Holdings (60.25% of Total Assets) |
||
|
Name |
Symbol |
% Assets |
|
Lam Research Corp |
LRCX |
4.23% |
|
Intel Corp |
INTC |
8.38% |
|
Texas Instruments |
TXN |
8.05% |
|
NVIDIA Corp |
NVDA |
8.01% |
|
Qualcomm |
QCOM |
7.56% |
|
Broadcom |
AVGO |
7.53% |
|
Taiwan Semiconductor Manufacturing |
TSM |
4.20% |
|
KLA Corp |
KLAC |
4.16% |
|
NXP Semiconductors |
NXPI |
4.12% |
|
Applied Materials |
AMAT |
4.01% |
Let’s keep our powder dry this afternoon.
| Tweet |
| 10/15/2026 1:20 PM | Foxholes in Focus |
| 10/15/2026 9:37 AM | Fear & Loathing |
| 10/14/2026 1:14 PM | Weakness Deepens |
| 10/14/2026 9:32 AM | Hot Trades Melt Down |
| 10/13/2026 1:10 PM | Slow Going |
| 10/13/2026 10:11 AM | Zuck Breaks Out the Watermelon |
| 10/12/2026 12:29 PM | A Sluggish Start |
| 10/12/2026 9:33 AM | Macro Safety Micro Opportunistic Market |
| 10/9/2026 1:17 PM | AI Trade is Back |
| 10/9/2026 9:51 AM | FAKE NEWS STRIKES |
| 10/8/2026 1:16 PM | A Thursday Dip |
| 10/8/2026 9:51 AM | INTERNAL INFERNO |
| 10/7/2026 1:17 PM | High Yield Fears Return |
| 10/7/2026 9:35 AM | NEW HIGHS BEGET NEW HIGHS |
| 10/6/2026 1:24 PM | Reaching New Highs |
| 10/6/2026 9:33 AM | AIN’T AFRAID OF SKYROCKETING YIELDS |
| 10/5/2026 1:29 PM | Broad Participation |
| 10/5/2026 9:35 AM | LOOKING FOR BREAKOUTS |
| 10/2/2026 1:08 PM | A Friday Lift |
| 10/2/2026 9:41 AM | A GENTLE WAVE |
| 10/1/2026 1:15 PM | Volatile Start |
| 10/1/2026 9:28 AM | THE SILENT BEAR & RAGING BULL |
| 9/30/2026 1:35 PM | Waiting on Micron |
| 9/30/2026 9:42 AM | SALAD DAYS FOR SUPER INTELLIGENCE |
| 9/29/2026 1:38 PM | Weak Tone |
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