Tech, software, and crypto stocks collapse in a crowded trade unwind

7:47 pm February 6, 2026/Trade Risk/

Welcome back everyone to Stock Market Weekly Episode #818 for Friday, February 06, 2026 where we will be breaking down the most important trends, price action, and noteworthy moves across financial markets.

As always, we will share extensive analytics on the S&P500 (SPX), Nasdaq 100 (NDX), Russell 2000 (RUT), and current volatility environments.

Markets covered

GLDSLVBitcoinXLEXLBXBI

Stocks covered

ORCLMSFTPLTRHOODSOFICRWD

Thanks to our sponsor Investor’s Business Daily

Claim a discount reserved for Trade Risk customers when you sign up for an IBD Digital Subscription and get access to their top IBD 50 stocks list. You can also trial the MarketSurge charting platform for a special introductory rate.

In this week’s episode

This week’s Stock Market Weekly covers a sharp trader gut check as crowded momentum in tech and software began to unwind. Despite solid earnings, price action in QQQ and leading software names showed that expectations were too high and risk was pulled quickly.

We also highlight rotation into industrials, energy, and materials, alongside Bitcoin’s high-volume flush and rebound. The key takeaway: leadership is shifting, volatility is rising, and disciplined risk management matters more than chasing crowded trades.

Video episode timestamps

  • 0:00 Introduction – key events from this week’s trading
  • 1:56 AMD earnings reaction and market volatility
  • 3:01 Alphabet earnings and capex spending concerns
  • 3:43 Amazon guidance disappoints
  • 4:13 MAG 7 year-to-date performance review
  • 5:00 Palantir earnings results
  • 5:21 Software index technical levels
  • 5:49 Index returns, sector analysis, and market breadth
  • 6:39 Major indices price action analysis (SPY, QQQ, IWM)
  • 13:51 QQQ technical breakdown and support levels
  • 15:29 Small cap analysis – IWM chart review
  • 17:08 Sector rotation – healthcare XLV breakout
  • 18:41 Energy sector XLE performance
  • 19:30 Financial sector XLF analysis
  • 21:05 Software ETF IGV deep dive
  • 24:00 Individual stock analysis – HOOD, SoFi, CrowdStrike
  • 25:00 Trading system portfolio update
  • 25:44 LABU biotech trade setup
  • 26:05 VRT Veritativ momentum play
  • 26:39 Sterling infrastructure trade

We hope that you enjoyed this week’s episode, and look forward to having you back next week!

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