Welcome back to our weekly newsletter where we provide an overview of the main US and UK indices, along with analyses of selected assets that are outperforming the market.

Let’s get into this week’s newsletter!

US & UK INDICES OVERVIEW

S&P 500

The S&P 500 is at an interesting juncture right now. After hitting an all-time high of $7,002 on January 28th, it’s been struggling to stay above the key $7,000 level, a number that seems to carry a lot of psychological weight.

So far this year, the index is down a slight 0.14%, and February hasn’t helped much, with a drop of 1.48%. Even last week reflected the same challenge, closing down 1.39%.

That said, Friday gave us a small glimmer of hope with a 0.05% uptick. However, the day ended with an “indecision candle,” which basically signals a lack of clear direction. It’s like the market isn’t sure what to do next, and that uncertainty is reflected in the charts.

The 2025 high of $6,945 and the $7,000 mark are acting as a tough barrier. These levels have stopped bullish advances several times, with prices breaking above them only to fall back again. 

For the bulls to gain control, we need to see a strong, decisive close above $7,002, which is the all-time high. After that, we’d want to see the index forming a series of higher highs and higher lows, which would signal a clear upward trend.

Dow Jones

The Dow Jones is currently leading the way among US indices, standing out in a market often dominated by tech-heavy trends.

As of now, the index is up 2.99% year to date, with February alone adding a solid 1.24%. It’s been hitting record highs and trading comfortably above its 2025 peak of $48,886, an encouraging sign for investors.

The standout moment this month has been the push past the $50,000 mark, a major psychological milestone. While this was a big achievement, the index faced resistance and pulled back slightly.

That’s not unusual, it’s common for markets to test key levels before gaining the momentum needed to break through. With half of February still ahead, there’s time for the Dow to find support on the lower timeframes and recover its upward momentum.

If the Dow can regain its strength and decisively push past $50,000 while continuing to set new highs, we could see a strong bullish close by the end of the month. And remember, the Dow’s current outperformance could act as a catalyst, potentially lifting other US indices along with it.

Nasdaq 100

The Nasdaq 100 has been lagging behind the other major indices this year. So far, it’s down 2.05%, with February being especially tough at -3.21%.

Unlike the S&P 500, which has managed to break past its 2025 highs, the Nasdaq is still stuck below its equivalent level of $26,182.

It’s been a challenge for the index to break through resistance levels, and while a short-term bounce could create the momentum needed to push higher, it’s possible the sideways movement may continue if that doesn’t happen.

The Dow is leading the way, the S&P 500 has broken through resistance a few times, and history suggests that if these trends hold, the Nasdaq could eventually follow suit. That said, if we start to see consistent weakness across all the indices, it might be a good time to reassess and actively manage your positions.

FTSE 100: 

The FTSE 100 is showing a very different story compared to other markets right now. The UK’s flagship index has been on a strong upward trend since May 2025, delivering one of its most impressive performances in history.

So far this year, it’s up 5.19%, with February contributing another 2.18% to those gains. That’s a solid start by any standards.

The index is holding firmly above the key 10,000 psychological level. Last week closed with a gain of 0.74%, and Friday added another 0.42%.

However, to keep this momentum going, we’ll need to see a break above the recent high of 10,535 from February 12th. That’s the level to watch for confirmation that the bull trend has more room to run.

Since July 2025, the FTSE 100 has been impressively consistent, forming a clear pattern of higher highs and higher lows. This kind of clean trend is where real opportunities can emerge, especially as UK stocks start breaking out of their long-term ranges.

PERFORMANCE REVIEW

NiSource (NI)

NiSource has been steadily rewarding patient investors. Back in August 2024, the stock broke through a key resistance level at $32. Since that breakthrough, it has delivered an impressive 42% gain.

Even looking at this year alone, NiSource is up 11.02%, with February adding a solid 4.67% to its momentum. If you’ve been holding or considering this stock, it’s showing strength.

This month, NiSource confidently traded above its 2025 high of $44, a pivotal move that signals further potential.

Last week, the stock advanced 5.12%, capped off by a 2.61% jump on Friday, pushing it to new record highs.

Looking ahead, $50 is the next significant target, and it’s achievable given NiSource’s track record. Historically, this stock has shown an incredible ability to sustain long-term growth.

For example, between 2009 and 2016, it delivered a staggering 750% return. While the current climb has had its ups and downs, the overall direction is still firmly upward.

OUTPERFORMING ASSET FOR THE WATCHLIST

Walmart (WMT)

Walmart is having a standout year, showing impressive growth and setting new records. Year to date, the stock is up 20.18%, with a big boost in February, adding 12.38%.

Back in January 2026, it broke past its 2025 high of $117, and since then, it hasn’t looked back, climbing to fresh record highs.

Looking at the weekly chart, Walmart’s stock gained 2.07%, with Friday adding a modest 0.19%. This upward momentum has been steady and predictable.

Since breaking out above the $105 resistance in November 2025, the stock has followed a classic pattern of higher highs and higher lows, which signals strength and consistency.

The $150 level is the next logical target. That said, earnings are coming up on Thursday, February 19th, and earnings reports can be unpredictable.

It could lead to a surge higher, a temporary pullback, or even a period of sideways movement. No matter how the short-term reacts, the big picture remains positive as long as the stock holds above its support levels.

Looking Ahead

Currently, 60% of U.S. stocks are trading above their 200-day moving average, with no change from before. The indices seem flat for now, but given the long-term bullish trends, we expect the upward movement to continue. However, it’s important to stay prepared for potential market swings in either direction.

Keep it simple. Keep it Sublime.

The ST Team

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