Stock Market Today With IBD Indexes Recover A Bit From Harsh Sell-Off; Imax, XPO, United Airlines In Focus
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Feb 26, 2026 A market recap of indexes and breadth after a sharp sell-off. Discussion of NVIDIA’s odd mix of booming results but shrinking multiples and chip-sector weakness. Breakouts and setups highlighted for IMAX, XPO, and United with technical entry ideas and relative‑strength signals. Notes on sector rotation into software and financials and what weekly volume and distribution days suggest.
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Indexes Closed Off Lows Showing Short Term Support
- The NASDAQ and S&P 500 both closed off intraday lows despite sharp early selling, signaling short-term resilience.
- Ken Shreve noted the NASDAQ found support at its 21-day moving average while breadth was slightly positive despite distribution days being added.
NVIDIA Strength Met With Weak Buying Pressure
- NVIDIA reported another strong quarter but the stock closed near lows on heavy volume, indicating buyers failed to step in.
- Ken described this as perplexing because accelerating revenue and earnings usually expand multiples, yet NVIDIA's multiple contracted.
Avoid Chasing Software Bounces After Heavy Weekly Selling
- Be cautious buying beaten-down software stocks even during short-term rallies because heavy prior weekly volume signals deep technical damage.
- Ken warned names like Salesforce and Snowflake face large overhead supply and may need time to recover.