Market Analysis and Trades for 2/26
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The 2026 Equity Markets Year Ahead can be watched here: 2026 Equity Markets Year Ahead
The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. It can be found here Market Analysis for the Week of 2/22
For week’s we’ve monitored the low volume area from the week of 2/8. Sellers were in short term control below 6898-6902, buyers reclaim control above 6931-6935, and in between was neutral. For NQ sellers had control below 24947-24969, with buyers in control above 25169-25187, and in between was neutral.
Today on the gap up ES opened at 6930.5 and NQ opened at 25160.25. Both saw an immediate opening drive higher with NQ particularly strong. Sellers made multiple attempts to get back through 6931-6935 on ES, were unable to do so, and had to cover.
This is one of those situations in auction market theory that seems backward to most traders. Just below 6931-6935 was “expensive” and just above 6931-6935 was “cheap.” Now that NVDA earnings is out of the way, these levels can be carried forward. In tonight’s plan I’ll discuss upside targets should this sustain, along with downside targets should it not.
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