<div id="readability-page-1" class="page"><div id="blog-content"><img height="225" src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2016/12/13/22/15/chart-1905225__340.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="400" original-src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2016/12/13/22/15/chart-1905225__340.jpg"/>Image Source: Pixabay That was a seriously crazy week. It seemed like the bears were going to absolutely take over the market, with an amazing crescendo seen late on Thursday as Bitcoin plunged to less than half its peak price. Friday saw the revenge of the bulls, however, and the NQ and ES went up hundreds of points, the YM went up quadruple digits, and the Dow Industrials crossed above 50,000 for the first time in human history. <img height="335" src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_INDU-1-640x335.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="640" original-src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_INDU-1-640x335.jpg"/> My opinion (and, certainly, my hope) is that this was nothing more than a bear market rally, or a dead cat bounce, or a relief rally, or whatever other moniker you want to assign it. The Nasdaq Composite, for instance, has pushed its way back to the 50% Fib (between the lifetime high and the November low), returning to prices not seen since two days prior. <img height="335" src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_COMPQ-2-640x335.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="640" original-src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_COMPQ-2-640x335.jpg"/> Word for word, the same applies for the Nasdaq 100. <img height="335" src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_NDX-2-640x335.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="640" original-src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_NDX-2-640x335.jpg"/> The S&amp;P 500 is shaped differently, though. Its own lifetime high is closer, and the rally on Friday undid the losses from Thursday, Wednesday, and even a little bit from Tuesday. That broken wedge is important, though, and I think the bulls are going to have to come in on Monday with a huge catalyst if they want to push things even higher. <img height="335" src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_SPX-2-640x335.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="640" original-src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_SPX-2-640x335.jpg"/> The semiconductor index remains within its unbroken ascending channel. It got tantalizing close this week, but – nope, no dice. <img height="335" src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_SOX-640x335.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="640" original-src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_SOX-640x335.jpg"/> The Dow Utility Index is about 90% done with what might ultimately be a fantastic head-and-shoulders top. There’s certainly some more work to do here. <img height="335" src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_UTIL-1-640x335.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="640" original-src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_UTIL-1-640x335.jpg"/> Finally, the Dow Transports did precisely what its brother the Industrials did: blasted to lifetime highs. For whatever reason (and it’s certainly not cheap oil), transportation stocks have been doing wildly well for months. <img height="335" src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_TRAN-2-640x335.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="640" original-src="https://imageproxy.pbkrs.com/https://slopeofhope.com/wp-content/uploads/2026/02/slopechart_TRAN-2-640x335.jpg"/> I am coming into the week quite light – about 70% committed across 25 positions, with not a single large position among them. Hopefully the bears can reload with vigor early in the week.<hr/>More By This Author:Beaten Meat Trillion Dollar Club November NQ </div></div>

The market experienced significant volatility last week, with Bitcoin dropping sharply before a strong recovery on Friday. The Dow Industrials surpassed 50,000 for the first time, while the Nasdaq Composite and Nasdaq 100 rebounded to key Fibonacci levels. The S&P 500 also recovered losses from earlier in the week. The semiconductor index remains in an upward trend, and transportation stocks have performed well. The author is currently lightly invested, holding 70% of capital across 25 positions, and anticipates potential bear market activity in the coming week.

- The market experienced significant volatility, with Bitcoin dropping sharply before a recovery led by the bulls on Friday, pushing the Dow Industrials above 50,000 for the first time.  
- The Nasdaq Composite and Nasdaq 100 rebounded to significant Fibonacci levels, whereas the S&P 500's rally reversed previous losses, though it requires a strong catalyst for further gains.  
- The semiconductor index is stable within its ascending channel, while the Dow Transports have reached new highs, indicating strong performance in transportation stocks.

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