Trading 360° view: Market SPY Weekly view, holidays, earnings, eco-news, market-news summary, news sentiment, and major ETFs, MAG7, Higher Time Frame Analysis Indices Futures Summary, and QQQ Weekly view.
SPY Weekly View
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Holiday Radar
No U.S. market holidays pending in the next 7 days.
Earnings Radar
Monitoring for earnings releases by the Magnificent 7, AI-tech-related firms, and major financial institutions.
No monitored earnings reports are pending in the next 7 days.
For full details visit: Yahoo Earnings Calendar
EcoNews Radar U.S. Events
EcoNews Summary: High Impact Events
- Friday 10:00 – USD Prelim UoM Consumer Sentiment (High Impact):
This release provides an early gauge of US consumer confidence. Significant deviations can trigger sharp index moves due to its influence on market expectations about consumer spending and broader economic health. - Friday 10:00 – USD Prelim UoM Inflation Expectations (High Impact):
Closely monitored for insights into consumer inflation outlook. Higher inflation expectations often raise concerns about Fed policy tightening, directly impacting indices volatility.
EcoNews Conclusion
- Friday’s 10:00 AM data releases are expected to be notable volatility catalysts for indices futures, especially given their direct relevance to consumer sentiment and inflation outlooks.
- News events around the 10 AM time cycle often act as a catalyst for reversals or continuations.
For full details visit: Forex Factory EcoNews
Market News Summary
- Gold and Commodities: Gold prices saw a sharp decline in early Asia, pressured by spillover from a major cryptocurrency selloff. Technical levels held as volatility rose, with gold dipping to $4,680 but rebounding on risk-off flows and hopes for Fed rate cuts. Gains remained limited by a concurrent selloff in silver and a firm US dollar. CME responded to heightened volatility by raising margin requirements on gold and silver futures.
- Energy: Oil prices continued their downward momentum due to easing Middle East supply risks and impending US-Iran talks, leading crude to its first weekly drop in several weeks. Saudi Arabia cut its flagship oil price to Asia for the fourth consecutive month as supply is seen potentially outpacing demand.
- Equities – US & Global: Stocks experienced a global selloff, especially in the technology and software sector where major indices and ETFs hit oversold levels. The rout extended to debt markets, given the tech sector’s significant presence in loan books. US stock futures, however, advanced after the selloff, signaling potential stabilization. Small caps showed early signs of rotation and resilience.
- Asia-Pacific Markets: Asian equity markets were under pressure, with sharp swings tied to investor concerns about large AI-driven capital expenditure. South Korea halted trading briefly amid volatility, and Indonesia’s shares dropped over 2% following a Moody’s outlook downgrade.
- Thematic Market Shifts: Market leadership continues to broaden beyond US tech, with indices across Japan and Europe hitting highs. Discussions highlight a possible shift toward value, energy, infrastructure, and select winners in AI, contrasting with headwinds for software and data providers.
- Retail & ETF Trends: Retail traders, particularly on Robinhood, favor index-tracking ETFs over high-profile tech names. Comparisons between gold-backed ETFs show ongoing investor attention to cost and volatility diversification.
- Federal Reserve and Macro Policy: Uncertainty around the next Fed chair nomination, with focus on Kevin Warsh, has influenced market volatility; however, expectations remain for pragmatic monetary policy including potential rate cuts and ongoing fiscal support.
News Conclusion
- Markets faced widespread volatility, with technology and software shares leading declines amid profit-taking and rotation concerns. Crypto market turbulence contributed indirect pressure to commodity prices, notably gold.
- Oil and energy markets are weighed by a shift in supply-demand sentiment, with geopolitical risks seen as moderating and major producers signaling caution through price cuts.
- Safe-haven assets like gold saw mixed moves, initially dropping under liquidity stress and then recovering on renewed risk-off sentiment, though gains remain capped by broader USD and commodity market factors.
- Global equities, especially in Asia, are reacting to uncertainty around rates, economic outlook, and structural shifts in market leadership.
- Discussions about macro policy, ETF flows, and sector rotation reinforce the sense of a transitional market phase, marked by enhanced volatility and greater sector dispersion across global indices.
Market News Sentiment:
Market News Articles: 40
- Negative: 42.50%
- Neutral: 40.00%
- Positive: 17.50%
Sentiment Summary: Out of 40 market news articles, 42.50% reflected negative sentiment, 40.00% were neutral, and 17.50% were positive.
Conclusion: The overall market news sentiment leans negative, with a higher proportion of articles conveying negative tones compared to neutral and positive content.
GLD,Gold Articles: 18
- Neutral: 50.00%
- Negative: 33.33%
- Positive: 16.67%
Sentiment Summary: The recent coverage on GLD and gold shows a majority neutral sentiment (50%), with a significant portion of negative articles (33.33%) and a smaller share expressing positive sentiment (16.67%).
This distribution suggests that market news is currently balanced or cautious on gold, with negative outlooks outnumbering positive ones.
USO,Oil Articles: 9
- Negative: 55.56%
- Positive: 22.22%
- Neutral: 22.22%
Sentiment Summary: The majority of recent USO, Oil articles reflect a negative sentiment (55.56%), with a smaller proportion displaying positive (22.22%) and neutral (22.22%) tones.
This indicates that recent news coverage around USO and the oil market has been predominantly negative, with fewer articles conveying positive or neutral views. Traders may find it beneficial to remain aware of evolving news sentiment as it could influence market narratives.
Market Data Snapshot
ETF Snapshot of major stock market ETFs, Mag7, and others as of: February 6, 2026 07:16
- TLT 87.48 Bullish 1.09%
- META 670.21 Bullish 0.18%
- AAPL 275.91 Bearish -0.21%
- IJH 69.53 Bearish -0.53%
- GOOG 331.33 Bearish -0.60%
- DIA 488.91 Bearish -1.18%
- SPY 677.62 Bearish -1.25%
- NVDA 171.88 Bearish -1.33%
- QQQ 597.03 Bearish -1.44%
- USO 76.69 Bearish -1.53%
- IWM 255.83 Bearish -1.80%
- TSLA 397.21 Bearish -2.17%
- GLD 441.88 Bearish -2.66%
- AMZN 222.69 Bearish -4.42%
- MSFT 393.67 Bearish -4.95%
- IBIT 36.10 Bearish -13.16%
Market State of Play: ETFs, MegaCaps & Key Assets (Snapshot: 02/06/2026)
ETF Stocks: Broad Market
- SPY 677.62 (-1.25%) – Bearish: S&P 500 tracker under pressure, reflecting broad-based weakness.
- QQQ 597.03 (-1.44%) – Bearish: Nasdaq-100 also facing declines amid tech-driven selloff.
- IWM 255.83 (-1.80%) – Bearish: Small cap stocks especially weak, underperforming large caps.
- IJH 69.53 (-0.53%) – Bearish: Mid-cap exposure also trending lower, but less severe than small caps.
- DIA 488.91 (-1.18%) – Bearish: Dow 30 likewise seeing a notable drop.
MAG7: MegaCaps Summary
- META 670.21 (+0.18%) – Bullish: Bucking the trend, showing relative outperformance.
- AAPL 275.91 (-0.21%) – Bearish: Mild weakness in Apple, aligned with broader tech retreat.
- GOOG 331.33 (-0.60%) – Bearish: Alphabet sliding but less sharply than peers.
- AMZN 222.69 (-4.42%) – Bearish: Amazon notably under heavy selling pressure.
- MSFT 393.67 (-4.95%) – Bearish: Microsoft with significant downside move.
- NVDA 171.88 (-1.33%) – Bearish: Nvidia feeling the tech downdraft.
- TSLA 397.21 (-2.17%) – Bearish: Tesla extending recent weakness, underperforming the group.
Other Major ETFs & Assets
- TLT 87.48 (+1.09%) – Bullish: US Treasuries showing safe-haven inflows, defying the general downtrend.
- GLD 441.88 (-2.66%) – Bearish: Gold ETF sees notable decline despite overall risk-off tone.
- USO 76.69 (-1.53%) – Bearish: Oil also trending down, reflecting broader commodities weakness.
- IBIT 36.10 (-13.16%) – Bearish: Significant drop in this Bitcoin ETF, underlining digital asset volatility.
Summary
The session snapshot points to a broad risk-off environment with equities, most mega caps, commodities, and digital assets under notable pressure. Exceptions: TLT (US Treasuries) and META, each showing resilience. The widespread selling in both the S&P 500 and Nasdaq-100, combined with heavier losses in select mega caps and crypto, suggests traders are favoring defensive positions over growth and risk assets at this time.
Higher Time Frame Analysis
Summary of the current state of US Indices Futures based on higher time-frame (HTF) technical analysis as of: 2026-02-06: 07:16 CT.
US Indices Futures
- ES pullback phase, YSFG/MSFG/WSFG down, below NTZ, ST/IT pivots down, resistance 7246.25, support lower, all major MA’s down except long-term uptrend intact.
- NQ pronounced sell-off, YSFG/MSFG/WSFG down, price below NTZ, ST/IT pivots down, resistance 26655.5, support 24531, MA’s down, 200-week MA in uptrend, corrective mode.
- YM rally phase, MSFG/WSFG up, price above NTZ, ST/IT pivots up, resistance 49901, support 48515, all major MA’s up, yearly grid corrective, long-term trend bullish.
- EMD strong uptrend, YSFG/MSFG/WSFG up, price above NTZ, pivots up, resistance 3571.7, support well below, all MAs up, breakout and rally intact, trend continuation.
- RTY corrective pullback, MSFG/WSFG down, below NTZ, ST/IT pivots down, resistance 2749.2, support 2350-2575, YSFG/long-term MA’s up, underlying uptrend, ST/IT trends bearish.
- FDAX consolidation/pullback, WSFG/MSFG down, below NTZ/short MAs down, ST/IT pivots down, resistance 25190-25641, support 24318-24019, long-term MA’s up, YSFG bullish structure intact.
Overall State
- Short-Term: Bearish to Neutral
- Intermediate-Term: Bearish to Neutral
- Long-Term: Bullish (EMD, YM, RTY, FDAX), Neutral to Bearish (ES, NQ)
Conclusion
The US Indices Futures higher time-frame technical landscape is defined by active corrective or pullback phases in ES, NQ, and RTY, with all major session Fib Grids (YSFG, MSFG, WSFG) trending down and prices trading below their neutral zones. Short- and intermediate-term swing pivots and moving averages confirm dominant downtrends in these indices, with support below and resistance overhead, indicating potential for continued retracement. However, long-term structures in ES, NQ, and RTY remain intact above key yearly levels, highlighting an underlying bullish trend under pressure.
Meanwhile, YM and EMD display constructive bullish structures, with all major session grids trending up, prices above neutral zones, upward MA benchmarks, and higher swing pivots confirming continued rally and trend alignment. FDAX reflects a long-term and intermediate-term uptrend, amid a short-term pullback and mixed short-term signals, with bullish structure not yet invalidated.
Directional correlations across major indices point to a risk-off corrective environment dominating ST/IT timeframes, while the LT context supports continuity of primary bullish market structure pending further developments at pivotal support and resistance zones.
Note: Intra-day counter-trend pullbacks or retracements may occur, HTF is context for informational usage and market structure. Glossary: Session Fib Grids periods of YSFG:’Yearly’, MSFG:’Monthly’, WSFG:’Weekly’
For full details visit: AlphaWebTrader Technicals
Tech Weekly View
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