Tuesday, October 6, 2026 • 8:46 PM EDT
The early tone is constructive, especially in tech, but there’s not enough broad participation yet to chase the opening move.
☀️ Morning Snapshot
- SPY is up modestly and holding most of its gain.
- QQQ is stronger than SPY.
- Technology is showing relative strength, with industrials also positive.
- IWM is roughly flat, so small caps aren’t participating strongly.
- Utilities are lagging.
⌖ On My Radar
- NVDA — showing early strength alongside the technology sector.
- AMD — positive early momentum, but I want confirmation before getting more interested.
📈 What I Want to See Next
- QQQ continue showing relative strength versus SPY.
- SPY hold most of its opening gain.
- AMD confirm its early positive momentum.
- Better small-cap participation would strengthen the broader picture; the opening move is still young and could reverse.
🎯 Spencer's Call
BE SELECTIVE
There are a couple of names worth watching, but no reason to force anything. Stay sharp and let the market prove the move. — Spencer