Around the Fair February 2026
Market analysis of European and American indices with support, resistance and disparity index

Core Levels and Disparity Index Analysis. A quick look at support and resistance zones in European and US indices, followed by a technical analysis using the disparity index.
What we cover
- Europe: AEX25, BEL20, CAC40, DAX40, MIB40 and IBEX35.
- US: SPY, QQQ, IWM, SMH, USO and GDX.
- Disparity Index to measure the percentage difference between price and average.
Chapters
Disparity Index
Key Insights – Around the Stock Market and Ratio Charts
- Europe: BEL, MIB, and IBEX remain in an upward trend. The AEX is trying to follow suit. The DAX and especially the CAC are consolidating further.
- VS: SPY and QQQ are in danger of forming a top. IWM, SMH, and GDX remain bullish. USO remains in a sideways pattern with a slightly upward KT trend.
- Technical analysis: Measuring gold exaggeration for the past 6 years and the period 1976-1982 using the disparity index

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