2/9/26 Recap
The SPY had a perfect test and hold of the 100 day last week on thursday and has now recovered back over the 8 ema, this needs new highs over 697.84 or this could just be a lower high forming and we reverse lower. This has held up much better than tech with all the other sectors working very well carrying it.
The QQQ remains the issue and we’re attempting to get back over the 100 day right now but we’re still below some key averages and in this deeper downtrend for the time being. This is a relief bounce and bulls would like to see it keep pushing higher and break that downtrend sloping down at 620 now but until then you have to be careful with your positioning in tech. Just keep in mind its much easier to stay long something in an uptrend than trying to bottomfish in a downtrend.
Top Gainers From Friday’s Flow
My Open Book
Trades I Made Today
