2/25/26 Recap

The SPY gapped up and cleared all the resistance overhead this morning. You could feel this wanted higher the last few sessions as it just could not break that 100 day average and every touch was bought up right away. Now the President’s speech is out of the way, the war stocks are in decline today, and we are watching NVDA break out of its range before earnings tonight. If the biggest company in our markets can have a strong print, the volatility should cool down and and we could be looking at new highs. If NVDA disappoints tonight, it will reverberate through so many names and we could be testing that 100 day again tomorrow.

The tech names have been our anchor for the last months and today the QQQ reclaimed the 21 ema for the first time in over 3 weeks. Is this a headfake into the NVDA print? It very well may be but this broke a large downtrend for now and if it can clear that 50 and 100 day average above, this also has nothing but blue skies above.

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