SPY and QQQ are still in long-term uptrends, but the market is having a rethink here in October. After leading for most of 2026, the Technology SPDR and QQQ are lagging in October as they fell sharply the last six days. Moreover, both fell sharpy after hitting new highs and such declines can derail an uptrend. Elsewhere, the junk end of the stock market is bearing the brunt of selling pressure with the Russell 2000 and Russell Microcap ETFs leading the way lower. Breadth Thrust setups were brewing in early October, but the actual thrust signals failed to materialize. $IJR $IJR $IWM $IWC $XLK $QQQ $QQEW $SMH $SOXX $DRAM

Today’s report will dive into the industrials sector. Frist, the Industrials SPDR is setting up as it corrected to a Bullish Setup Zone and firmed. Second, the top 11 component stocks are mixed with four sporting recent breakouts. Attention then turns to the Aerospace & Defense ETF and Clean Edge Green Energy ETF as both hit Bullish Setup Zones. $XLI $ITA $QCLN