2/22/26 Best Idea For The Week Ahead
The SPY closed up the week over the 8 week, it has now tested the 21 week for 3 straight weeks. This is being bought right where it is supposed to find support repeatedly, until that trend changes you have to remain bullish. It’s amazing to see the destruction in tech names and we’re less than 2% off all time highs in the market.
Tech is where our issues lie and the biggest tech company in the world, NVDA reports this week. I don’t really know how NVDA can surprise enough to impress people considering we know that they’re sold out for years to come but until NVDA breaks out of this range it has been in for the last 6 months it is going to be difficult for the overall tech sector to rise up. Nvidia is almost a 10% weighting in the Nasdaq. This lost the 21 week for the first time in 9 months a week back and recovered it this past week but if this goes lower by friday, an 8/21 bear cross down is all but assured which would mark the start of a bigger downtrend.
With that said, this weeks best idea is a tech name, one of the best in the world and it is trading near a level that it has not closed below in 13 years. I think the risk/reward is very favorable and we’re going to discuss multiple ways to potentially get involved. It’s not everyday you get one of the best companies in the world at such a massively critical long term level but we have our chance.
