Downloads are available here. TradeStation’s ideas on TradingView are available here.

Register for Market Trends here.

Sizing Up the S&P 500

  • Index is potentially forming range between 4918 and 5030
  • Rising trend line potentially broken
  • Shooting star on 2/12 may signal a near-term peak
  • Few clear catalysts on the calendar until March. GDP revision (2/28) and PCE (2/29) are potentially important

Key News

  • Nvidia earnings, revenue & guidance beat as AI drives more data-center strength
  • Palo Alto Networks (PANW) headed for record weekly loss amid weak guidance, pivot toward free products.
    • Do price cuts reflect saturation in the cybersecurity market?
    • PANW also had weak bookings guidance on 11/15
  • S&P 500 targets hiked:
    • UBS sees 5400
    • Goldman sees 5200
  • February core PPI +0.5% vs +0.1% estimate. Services still increasing
    • Atlanta Fed business inflation expectations inch higher
  • Fed minutes express caution toward inflation
  • Weak demand for 20-year Treasury bonds on 2/21
  • Russia cuts oil production, plans to fully comply w/ OPEC+ quotas this month.
  • Conference Board drops recession call. Citi expects recession, citing continuing claims, weak retail sales and manufacturing
  • NY Times: Biden may delay EV mandates for automakers
  • Capital One (COF) buys Discover Financial (DFS)

Sector Watch

  • Energy starting to outperform
  • Value stocks narrow gap vs growth in the last month

Signals Scan

  • Idexx (IDXX) holds 2-year high, 21-day EMA after earnings
  • Airbnb (ABNB) tries to hold 21-day EMA

Upcoming Events

  • Mon 2/26: New home sales
  • Tues 2/27: Durable goods, consumer confidence
    • Earnings: LOW
  • Wed 2/28: GDP revision
    • Earnings: TJX BIDU
  • Thu 2/29: PCE inflation, jobless claims
    • Earnings: BBY

Using the Platform

  • “MA X Days Since” custom indicator displays the candles since two moving averages crossed
    • Faster MA above slower MA shown with positive outputs.
    • Works in RadarScreen, Scanner and Charts

Security futures are not suitable for all investors. To obtain a copy of the security futures risk disclosure statement visit

Exchange Traded Funds (“ETFs”) are subject to management fees and other expenses. Before making investment decisions, investors should carefully read information found in the prospectus or summary prospectus, if available, including investment objectives, risks, charges, and expenses. Click here to find the prospectus.

Options trading is not suitable for all investors. Your TradeStation Securities’ account application to trade options will be considered and approved or disapproved based on all relevant factors, including your trading experience. See Characteristics and Risks of Standardized Options.

Trade in milliseconds

Explore the most actively traded options

Trade 600+ futures products on an advanced platform

Previous articleStocks Pause as Earnings Pass and Inflation Rises
Next articleNvidia’s AI Surge Lifts Stocks as Market Breadth Widens
David Russell is Global Head of Market Strategy at TradeStation. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.