A Whole Lot of Yellow

When will this market pick a direction? It might come down to the next Fed meeting in March.

Action to Take: For traders, the SPY's support sits at yesterday’s low of $602.63, where the 50- and 20-hour moving averages converge. On the upside, we need $611 to break this DeepSeek and tariff-driven downtrend. A rejection at $610 would mark a concerning triple top. For QQQ traders, $534 is your level.

With algos primed to pounce on the headline number, patience is key.

Let others chase the first move—we’ll wait for a clearer signal.

Market outlook:

• Futures are Flat: S&P —, Nasdaq —, Russell —

• Treasury yields steady ahead of jobs data; 10-year unchanged at 4.44%

• WTI Crude finds short-term support at $71 as U.S. sanctions pressure Russian oil logistics; energy-momentum remains negative and weakening

• AMZN slides 4% after hours on light Q1 guidance; plans massive $100B AI investment as CEO shrugs off DeepSeek concerns

• Allstate (ALL) suffered a $1.1B loss from the LA wildfires; industry losses could reach $40B as insurers grapple with California exposure.

• Trump halted a $5B EV charging program…