26.02.06 US Stock Pre-Market: Don't Lose Heart

1、Don't lose heart.

2、QQQ: The main culprit of this pullback is QQQ, which represents tech stocks. Let's analyze QQQ first.

a It would be best if it can reclaim 600 this Friday or next Monday. (The support at 600 is very strong, and I'm worried it might turn into a resistance level.)

b A worse scenario could be a drop to the strong support level at 582 below.

3、SPX: Strong support levels at 6730, 6550. If it holds above 6881 for two consecutive trading days in the future, the market will reverse. Last night during the session, SPX touched the support at 6780 on the cloud chart's green line and started a small rebound. Let's project a worse scenario for February: SPX has a chance to touch near the cloud chart's red line at 6730 (while the VIX touches the resistance level at 26).

4、MSFT around 400 (if Wall Street dares to smash it to 365, we'll decisively go for long-term options). For NVDA, 170, 173 are levels where we can start bottom-fishing with shares in batches.

5、VIX: Last night's high was 22.9. If it can decisively rise to near the 25.8 resistance line, the market might stabilize.

Focus on: MSFT, NVDA, AMZN

$NVIDIA(NVDA.US) $SPDR S&P 500(SPY.US) $Rocket Lab(RKLB.US)