$RNG couldn't hold its earnings gap last Friday, but dip buyers stepped in again today.

If the current correction ends this week, software will likely be among the leading groups. If the correction persists, software will likely be among the hardest hit as it plays catch-up to the downside. $IGV

Cybersecurity stocks continue to lead in the software group. New all-time highs for $RBRK and $TENB today.

$TSLA is back above its 200dma, while its relative strength line continues to rise, making higher highs and higher lows. @MarketSurge #IBDpartner bit.ly/431EbVK

Momentum Monday - More Rotations ivanhoff.com/2026/10/25/more… @MarketSurge @howardlindzon $QQQ $SMH $IGV $XLV $XLE

Another new all-time high for the energy ETF, $XLE

The groups that showed relative strength yesterday and most of the week are under pressure today - $XRT, $XLP, $XLV, while the oversold tech is bouncing - $SOXL $QQQ etc.

New 52-week relative-strength high for the cybersecurity ETF, $BUG vs $SPY. Biggest holdings include $OKTA $FTNT $PANW $CRWD $RBRK $ZS $TENB $VRNS etc. @MarketSurge #IBDpartner bit.ly/431EbVK

Month-to-date, $QQQ is down 5%, $SPY is down 0.7%. Rotation into defensive sectors like healthcare and consumer staples has made the difference. Semis $SMH is down almost 13% in October so far.

A bunch of software stocks are looking very different than semis. Here's $CRM

Select retailers continue to show relative strength. Here's $BBY

Healthcare stocks continue to dominate the 52-week relative-strength list - $LLY $BIIB $AMGN

$SSL - energy and chemical company out of South Africa at new 52wk highs. @MarketSurge #IBDpartner bit.ly/431EbVK

$SMH - semis continue to weigh on the tech sector.

Software is leading the tech sector. New 52wk high for $APPN @MarketSurge #IBDpartner bit.ly/431EbVK

$GOOGL is back below its 200dma while its relative strength line continues to decline.

$IGV - Notable relative strength in software compared to semis and the rest of tech all week so far. It could still turn into a bear flag if it goes under its 50dma again.

Healthcare stocks are dominating the new 52-week relative-strength high list: $HTFL $LLY $BIIB @MarketSurge #IBDpartner bit.ly/431EbVK

No idea where the indexes are heading. Earnings will likely be strong again, so I doubt we will see a 2018 repetition. A choppy, volatile environment for a few weeks is the most likely.

One big difference between the October 1999 pullback and October 2026 is that back then there were leaders that just tested their 20EMA during that 10% index correction. The leaders held their ground. Here's QCOM