📈Weekly Charts📉 2-21-2026

Show notes: This week brought a moderation in last week’s caution signals, but no decisive resolution. Major indices remain largely range-bound, with improving short-term price action in the S&P 500, mixed leadership beneath the surface, and healthy overall breadth. The market continues to digest prior gains while key leadership groups sort themselves out. Key Takeaways * S&P 500 (SPY): Back above the 10-week moving average after multiple successful tests. Still trading within a range established since October 2025. * QQQ: Holding anchored VWAP from the June 2025 breakout but remains below declining 4- and 10-week MAs. * Dow (DIA): Bullish consolidation above rising shorter-term averages. Structure remains constructive. * Small Caps (IWM): High-level consolidation with rising 10-week MA and healthy RSI. * International Stocks: Continued strength and strong relative performance vs. U.S. equities. * Bonds: Firm after upside move; moving averages aligned constructively. * Commodities: Breakout remains intact; gold holding well. Oil improving but not yet in a confirmed uptrend. * Bitcoin: Bearish consolidation with heavy-volume breakdown still unresolved. * Leadership: Semiconductors strong; software weak. MAG-7 mixed. NVIDIA earnings are a near-term catalyst. * Breadth: Approximately two-thirds of S&P stocks remain above 50- and 200-day MAs—participation remains solid. * Risk Appetite: Rotation toward lower volatility and value persists; growth remains under pressure. Closing Statement Overall, this remains a digestion phase with solid underlying participation but uneven leadership. The improvement from last week reduces immediate downside pressure, yet mixed signals warrant a measured, risk-aware approach as the market searches for its next directional move. Trading Adventures is a reader-supported publication. Subscribers receive new posts and occasional private updates not shared publicly. Important: This content is provided for educational purposes only. If you’re reading this online, please review the full disclosure here. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.trading-adventures.com/subscribe