3/10/26 Recap

The SPY has seen a powerful 2 day rally off the lows yesterday but it realistically has not crossed any key levels and is running right into the 8 ema which it is rejecting so far. Bulls would like to see this clear that 100 day right overhead and it likely comes down to CPI tomorrow and what happens with that. Oracle has earnings today and it has in the past had a monster impact on the entire tech sector with announcements it has made, so 2 pretty big catalysts in the next 24 hours that are outside of whatever happens with the war.

The QQQ below is reclaiming the 21 ema today, it did this 2 weeks back right before NVDA earnings and immediately had a breakdown the next day. This is a big deal, tech is the majority of out market and tech getting back on track is key to any hope bulls have of the market going higher. This is a big first step but until the 50 and 100 day overhead are cleared those will be stiff resistance. As I said yesterday we needed a very sharp move by the end of the week to keep the 8/21 cross down from occurring on the QQQ and with the pump Trump gave us yesterday afternoon and today’s move, this is a big step in that direction, still though, there is alot of time left in the week.

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