The TML Report February 24, 2026 – Sideways Chop Continues

Market Overview

The NASDAQ and S&P 500 have been moving sideways since the last report, and tomorrow is day seven of the current rally attempt.

However, with NVDA reporting earnings tomorrow after the close, we likely won’t see the market pick a direction until after they report.

I’m expecting another day of rest tomorrow while the market waits on NVDA’s earnings. So, the market’s reaction on Thursday will be telling.

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 looks like it's setting up to break higher as it waits for NVDA to report earnings after the close tomorrow.

SPY

The S&P 500 has shaped up similarly to the NASDAQ over the last couple weeks and looks ready to head higher, assuming NVDA's report is good.

IWM

The Russell 2000 has been trading sideways in a tight range above its 50-day SMA and looks like it's setting up to head higher.

DIA

The Dow has started to lag a bit. It broke below its rising bottoms line and is struggling to reclaim its 50-day moving average at the moment, although it's still not too far off prior all-time highs.

Focus List

ASML

ASML poked its head into new high ground today, but is likely waiting on NVDA's earnings report before moving decisively in either direction.

LRCX

LRCX continues to set up in a similar manner to ASML and looks like it's setting up to break out to new highs.

SNDK

SNDK continues to move sideways in a tight range above its 10-day SMA and looks like it's setting up to break out from here.

MU

MU continues to move sideways in a tight range above its 21-day SMA and looks like it's setting up to break out from here.

LSCC

LSEC's tight sideways action above its 10-day moving average looks like it's getting ready to resolve to the upside from here with new all-time highs in sight.

VIAV

VIAV broke out to new all-time highs on heavy volume today and looks like it can be purchased on constructive weakness.

BE

BE finally looks like it's trying to break out from a consolidation that began in November 2025, to new all-time highs from current levels.

PL

PL has been moving sideways in a tight range above key support and looks like it's setting up to break out from here, along with others in the group.

ATRO

ATRO is in the same group as PL above and also looks like it's setting up to break out to new highs from its most recent consolidation.

ESLT

ESLT broke out of a constructive base on heavy volume this afternoon and looks like it can be purchased or added to on constructive weakness from here.

PACS

PACS continues to trade sideways in a constructive manner above key support, and looks like it's setting up to break through the $42.00 area.