02/23/2026

Mish Schneider | February 22, 2026

(Pivotal means short-term bullish above that level and bearish below)   S&P 500 (SPY) Clears the 50-DMA and now must hold there  Russell 2000 (IWM) 267 eludes our Granddad-that has to clear to keep the party going  Dow (DIA) 496 needs to hold and momentum showing a bit of a bearish divergence  Nasdaq (QQQ) 610 key to clear while momentum remains bearish  Regional banks (KRE) 68 support and in good shape  Semiconductors (SMH) Must clear the all-time high 420  Transportation (IYT) Next to clear 83  Biotechnology (IBB) Good consolidation probably means higher in store if holds 171  Retail (XRT) Got back

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