The TML Report February 20, 2026 – Follow-through Day Next Week?

Market Overview

The NASDAQ continued to shape up quite well after last Tuesday’s constructive undercut and rally. Monday is day five of the latest rally count. Remember, ideal follow-through days typically occur between days 4 and 7 of a new rally attempt.

So far, semiconductors have been leading the way, and NVDA reports earnings after the bell on Wednesday, which will likely have a significant impact on the group, tech stocks, and the market in general.

Furthermore, the NASDAQ continues to trade below its declining key moving averages, except for its 200-day SMA, which is not ideal.

Until we have further confirmation that a new uptrend is underway, minimal exposure is recommended. Continue updating your watchlists, make sure your alerts are set, and be ready for anything.

Indexes

QQQ

The NASDAQ has been shaping up well since last Tuesday's constructive shakeout beneath its prior swing low. Monday will be the fifth day of the tech-heavy Index's rally attempt as we wait for a potential follow-through day to occur.

SPY

The S&P 500 continues to exhibit more strength than the Nasdaq. It managed to close back above all of its key moving averages on Friday, although it remains just a hair below its prior all-time high.

IWM

The Russell 2000 moved sideways above key support last week and looks like it's setting up to continue higher from here.

DIA

The Dow continues to hold up the best of the four major indexes, and looks like it's setting up to head higher from here.

Focus List

ASML

ASML has started to move up the right side of its most recent consolidation and looks like it's setting up to make new highs again.

LRCX

LRCX goes hand in hand with ASML and is setting up in a similar manner. However, it's important to keep in mind that it's a more volatile stock.

MU

MU has continued to consolidate constructively since the last report, and I continue to watch for a break out in expectation of new all-time highs.

SNDK

SNDK continues to move sideways in a tight range above its 21-day SMA and looks ready to break above the $670.00 area from here.

VIAV

VIAV has been moving sideways in an extremely tight range in and around its 10-day SMA, andd looks like it's ready to make new all-time highs again.

VICR

VICR had a wild yet constructive shakeout to its 50-day after reporting earnings last weekend. It looks like it's setting up to continue higher from here. It is working on a Green Line re-breakout, after its failed attempt last month.

ATRO

ATRO has been consolidated constructively in a tight range above its 23-day EMA over the last few weeks, where it looks like it's setting up to head higher.

PL

PL has continued to slowly work its way above key support as it forms its most recent consolidation. Watching for continued potential entry areas versus the confluence of its consolidation pivot, 21-day SMA, and declining tops trendline.

BE

Watching BE for entry versus its November prior highs, as it continues to base-build.

PACS

PACS remains buyable versus its 50-day SMA, as it continues to slowly work its way higher.