Saturday Setup: A Split Market
YieldTerminal Pro | Weekend review based on completed Friday, October 23, 2026 U.S. regular-session data.
The week ended with a split. SPY and QQQ slipped slightly over the week and remained below near-term averages, while the equal-weight S&P 500 fund and small-cap fund gained. Those ETF paths are useful context, but they do not establish that most individual stocks rose. This recorded review sets out the daily levels that would confirm repair or continued weakness, then checks Newmont and Deckers versus On against their latest reported businesses.
SPY and QQQ: broken near-term references
SPY closed Friday near $760, below its 20-day average near $770 and 50-day near $768 after moving below Thursday's low near $761. Its 200-day average was much lower, near $727. A daily reclaim, retest and close above the broken Thursday level would be the first repair step; the 50-day is a separate test. A daily close beneath Friday's closing area would keep the short-term break in view, without supplying a price target.
QQQ closed near $704, below its 20-day near $735 and 50-day near $726. Its 200-day was near $677. Recent completed closes around $704 are a dated closing-area reference, not a verified Friday intraday low. A daily reclaim, retest and close above the 50-day would offer stronger evidence of repair; another completed close below the recent closing area would weaken the hold.
Participation is mixed
RSP, the equal-weight S&P 500 ETF, gained roughly 1.1% for the week and closed Friday near $217, above its 20-, 50- and 200-day averages. The 50-day near $215 is the nearer daily-close defense. Its relative firmness describes this fund's path, not a count of advancing stocks.
IWM gained roughly 2% for the week but closed near $276, beneath its 20-day near $277, 50-day near $286 and 200-day near $278. The short and long averages form separate reclaim tests despite the positive week.
DIA finished the week modestly positive, then fell on Friday. Its close near $521 remained above its 20- and 200-day averages but just below the 50-day near $523. RSP held its 50-day, DIA sat just below it, and IWM remained below all three tracked averages; one label for the whole market would blur those differences.
Newmont: cash conversion and a weak completed chart
Newmont reported $2.768 billion of GAAP operating cash for the September quarter. After $856 million of additions to property, plant and mine development, its company-defined non-GAAP free cash flow was $1.912 billion. The definitions matter: operating cash and free cash flow are different measures, and this quarter does not guarantee the next.
Quarterly by-product all-in sustaining cost was $1,454 per ounce, while Newmont's revised full-year 2026 outlook was $1,520 per ounce. The latter is a forecast, not a completed cost figure. Red Chris proposed development capital is $4.2 billion–$4.8 billion on a 100% joint-venture project basis, with funding and investment approval still pending; it is not automatically Newmont's own cash bill.
NEM closed Friday near $109, down about 4.6% and below its 20-, 50- and 200-day averages. The 200-day near $112 is the nearer broad-trend repair test, while the 20-day near $116 is a separate higher hurdle. A daily reclaim, retest and close above the relevant level would carry more weight than an intraday touch. Daily-history providers disagree on Friday's exact low, so this review does not present one as a precise support line.
Deckers versus On: different reporting dates
Deckers' latest fiscal quarter ended in September and is reported in U.S. dollars under U.S. GAAP. On's latest published quarter ended in June and is reported in Swiss francs under IFRS. Deckers showed HOKA growth alongside weaker direct-to-consumer sales, with reported earnings benefiting from tariff refunds. On showed faster direct sales growth and a high reported gross margin, but its older quarter cannot establish how its September period performed.
DECK closed Friday near $81, below its 20-day near $83, 50-day near $84 and 200-day near $100. The short-average area is the first daily repair test. Its exact Friday intraday low differs between providers and is not used here as a precision line.
ONON closed near $32.51 on two agreeing daily histories; a third dated provider summary differed by two cents. It sat below its 20-day near $33 and 200-day near $37, but above its 50-day near $31. Reclaiming the 20-day is the nearer upside test, while the 50-day remains a separate downside reference.
The matched-window U.S.-listed share chart uses completed closes through October 23, excluding dividends. It is a share-price comparison, not a currency conversion or synchronized earnings scorecard.
The coming-week test
The Federal Reserve meeting is scheduled for October 27–28. BEA lists advance third-quarter GDP and September personal income and outlays, including PCE data, for October 29. BLS lists the third-quarter employment cost index for October 30. These are scheduled events, not known outcomes. Any move around them still needs a completed daily close to assess whether a level was actually reclaimed or lost.
The common rule across these charts is a daily reclaim, retest and close above a relevant broken reference. None of the levels is a guaranteed target. The full video discusses each chart using the completed October 23 market session and the separately dated issuer reports.
Related charts: SPY Daily Levels | QQQ Daily Levels | October 23 chart archive.
Sources: Federal Reserve calendar | BEA schedule | BLS ECI schedule | Newmont Q3 results | Deckers fiscal Q2 results | On calendar Q2 results.
Completed daily-price histories: SPY | QQQ | RSP | IWM | DIA | NEM | DECK | ONON. The frozen history was checked against dated StockAnalysis NEM, DECK and ONON pages and relevant Nasdaq dated fields; provider differences are disclosed in the text.
Market research only, not a recommendation to buy or sell.