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Liquid Leaders Scan sorted by 1-Day Return. Biggest movers so far today 👀 $TSEM, $LITE, $COHR, $PL, $STX, $CIEN, $DELL, $CRDO, $DOCN, $ASTS, $LRCX, $RKLB, $WDC, $BE, $BBY, $GLW, $AMAT, $CHRW, $JBL, $INTC By @TradersLab_

McClellan Normalized MCSI is entering oversold readings on all markets today. While MCO is back below -2σ as well, the market is trying to establish higher-low breadth as price makes a new low. Interesting divergence.

360° MARKET VIEW $QQQ TLMM Dashboard

Breadth contraction across all markets. Despite very oversold readings on the McCllelan Oscillator, the summation shows there is potentially more room to the downside. $QQQ $SPY $IWM

$QQQ is at an inflection point. MCSI reclaiming its 10-day MA is a constructive signal, but it must be confirmed by sustained breadth expansion and price recapture above the 50-SMA (103.62). The 21-day EMA (103.14) is also a near-term resistance level. Key watch: whether participation can expand above 50% on the 50-SMA metric—currently at 45.5%, this remains the primary weakness. The up-down volume ratio of 5.77 is strong and suggests institutional accumulation, but volume alone cannot sustain a rally without broader stock participation. Leadership is marginally expanding, which is encouraging, but the correction remains the dominant structural state. A close above 103.62 with participation expanding would begin to challenge the correction thesis; failure to hold current levels would extend the weakness.

Equal Weight NDX 100 $QQQE $QQQ Correction (risk-off) Key Headlines 1. NASDAQ in CORRECTION with participation collapsing: only 38.6% of stocks above 50-day SMA, down 12.9% over 21 days 2. Breadth deterioration accelerating: McClellan Oscillator at -1.26, Global Daily Breadth at -74.8 (near distribution threshold) 3. Price structure broken: QQQE below both 21-day EMA and 50-day SMA; leadership expansion insufficient to offset broad weakness Trend NASDAQ is in a structural CORRECTION phase. Price has broken below both the 21-day EMA (103.17) and 50-day SMA (103.64), with the index trading at 102.02. The 50-day SMA is still rising, but price action below it combined with deteriorating participation signals that the intermediate uptrend has been compromised. This is not a pullback within an uptrend; it is a correction requiring evidence of stabilization before uptrend resumption can be confirmed. Breadth Breadth participation is contracting sharply. The McClellan Summation Index (210.12) remains above its 10-day moving average (206.31), but this is a weak signal given the magnitude of deterioration. Only 38.6% of NASDAQ stocks trade above their 50-day SMA—a 12.9-point decline over 21 days and 3.3 standard deviations below the 63-day mean. Decliners are leading, volume is downside-dominant, and the advance/decline net has turned persistently negative. The breadth wind is blowing downward. Condition The market is approaching oversold conditions but not yet at extreme extension. The McClellan Oscillator Z-score is -0.39 (not extreme), but Global Daily Breadth at -74.8 is near the -80 distribution threshold, signaling broad selling pressure. The combination of weak participation (38.6% above 50-day SMA), negative momentum, and downside volume dominance suggests the correction is still active. Short-term oversold extremes have not yet been reached, which means further deterioration is possible before a reflexive bounce becomes likely. Detailed Notes Correction is intact and broadening. The deterioration in participation metrics over the past 5 and 21 days is significant and consistent across all breadth measures. Leadership expansion (cumulative net highs-lows at 3185 vs. 50-day MA of 3125) is technically positive but insufficient to offset the breadth collapse—this is a classic sign of leadership concentration without broad support. Key watch: whether MCSI can hold above its 10-day MA (206.31) or rolls over decisively. If MCSI breaks below its 10-day MA, breadth deterioration will have accelerated further. Price support at 102 is being tested; a break below would extend the correction. Confirmation of stabilization would require: (1) participation stabilizing above 40%, (2) MCO moving toward zero or positive territory, and (3) price reclaiming the 21-day EMA. Until then, treat any rallies as countertrend moves within the correction.

360° MARKET VIEW $QQQ TLMM Dashboard RALLY signal since 2026/02/25.

360° MARKET VIEW ( $QQQ TLMM Dashboard) RALLY signal since 2026/02/25.

360° MARKET VIEW ( $QQQ TLMM Dashboard) CORRECTION signal since 2026/02/23.

Liquid Leaders Scan sorted by RS Rank. $SNDK, $LITE, $ATI, $WDC, $CIEN, $MU, $TER, $TTMI, $AEIS, $VRT, $SATS, $GLW, $STX, $LRCX, $GEV, $MKSI, $COHR, $PL, $MOD, $CAT By @TradersLab_

360° MARKET VIEW ( $QQQ TLMM Dashboard) CORRECTION signal since 2026/02/23.

Lagging Themes today🔻 $SKYY – Cloud Computing $XSW – Software $KBWB – Banks $KRE – Regional Banks $CIBR – Cybersecurity $FINX – Fintech $IBUY – Online Retail $JETS – Airlines $IYT – Transport $AIQ – Artificial Intelligence & Technology

Leading Themes today 👇 $GDX – Gold Miners $SIL – Silver Miners $COPX – Copper Producers $XBI – Biotechnology $LIT – Lithium & Battery $HAP – Natural Resources $IAT – Solar $JPP – Pharmaceuticals $SLX – Steel Production $IHI – Medical Devices $XME – Metals & Mining

We've rarely seen all parts of the market moving together. Today we have a real distribution type of breadth with a -90th GDB reading across $QQQ, $SPY, $IWM, and $NYA

360° MARKET VIEW ( $QQQ TLMM Dashboard) RALLY signal since 2026/02/20.

$NVDA — Best Investment-Worthy Stock in $QQQ Right Now Company Overview NVIDIA Corporation designs and sells GPUs and AI accelerator chips, dominating the data center AI infrastructure buildout. It is the world's largest semiconductor company by market cap (~$4.62T) and the central hardware supplier for the generative AI era. Valuation Market Cap: $4.62T | Price: $189.82 P/E (FY2025): ~63x trailing | Forward P/E compresses rapidly given growth trajectory EV/EBITDA: ~53x (FY2025 EBITDA: $86.1B) FCF Yield: ~1.3% — premium valuation, but justified by growth rate ROIC: Implied very high given near-zero net debt and $72.9B net income Compared to peers: AAPL (P/E 34x, 9% revenue growth), MSFT (P/E 36x, 15% revenue growth), GOOGL (P/E ~29x) — NVDA commands a premium but grows at multiples of their rates Key Risks • Valuation compressionP/E ~63x leaves no room for growth deceleration • Export controlsU.S. restrictions on AI chip exports to China remain an overhang • Customer concentrationHyperscalers (MSFT, GOOGL, AMZN, META) are top customers and could develop in-house alternatives • Supply chainTSMC dependency; any Taiwan geopolitical event is a tail risk • CyclicalityFY2023 showed how fast margins can compress in a down cycle (op. margin fell to 15.7%) • CompetitionAMD, Intel, and custom silicon (Google TPU, AWS Trainium) are scaling Key Catalysts • Blackwell rampNext-gen GPU architecture driving the next revenue step-up • AI capex supercycleMSFT ($64.6B capex FY2025), GOOGL ($91.4B capex FY2025), AMZN ($131.8B capex FY2025) — all accelerating spend on infrastructure NVDA supplies • Sovereign AIGovernments globally building national AI infrastructure • CUDA moatSoftware ecosystem lock-in is a durable competitive advantage • Robotics/autonomousPhysical AI (humanoid robots, autonomous vehicles) is the next TAM expansion • Price above key MAsTechnical setup remains constructive above 50-day and 200-day SMAs Bottom Line Assessment • NVDA is the highest-conviction investment in QQQ right now. The fundamental case is unambiguous: revenue grew 114% YoY to $130.5B, net income hit $72.9B (net margin 55.8%), FCF reached $60.9B, and the balance sheet is essentially debt-free. No other QQQ constituent combines this growth rate with this margin profile at scale. Technically, NVDA trades above both its 50-day ($184.41) and 200-day ($171.68) SMAs, holds a 93rd-percentile 1-year relative strength rank, and is pulling back ~10% from highs — offering a better entry than the peak. The AI capex cycle from its three largest customers (MSFT, GOOGL, AMZN) is accelerating, not decelerating, based on their FY2025 capex figures. The primary risk is valuation: at ~63x trailing earnings, any growth miss would be severely punished. Position sizing and risk management are essential. But on a pure fundamental + momentum + future catalyst basis, NVDA is the standout name in QQQ.

$QQQ is at a critical juncture within a longer-term uptrend. The 21 DMA structure is bearish, the 10 WMA structure is rolling over, and the price is sitting at the lower boundary of both structures simultaneously. The Feb 5 selling climax may have marked a tradeable low, but the subsequent recovery has been weak and unconvincing — lower highs, distribution on rallies, and ADX showing no trend. The most likely near-term scenario is continued range-bound chop between $594 and $622, with the resolution of that range determining whether this is a healthy base-building correction or the beginning of a more significant intermediate decline. The 200 SMA at $581 remains the ultimate bull/bear dividing line. Bias: Neutral with short-term bearish lean | Watch $606 and $594 as key downside triggers

Liquid Leaders 10wma-structure Pullback sorted by RS Rank. $PL, $CCJ, $IBKR, $C, $CHRW, $GD, $EMR, $FTV, $RMBS, $HBAN By @TradersLab_

Liquid Leaders Scan sorted by 1-Day Return. $OMC, $KTOS, $LITE, $TTMI, $PWR, $PL, $NBIS, $COHR, $SNDK, $RKLB, $ONDS, $ATI, $APH, $CIEN, $HUT, $NRG, $CRDO, $GEV, $CAT, $NVT By @TradersLab_