- Solve real problems with our hands-on interface
- Progress from basic puts and calls to advanced strategies
Interactive Options Course
Posted February 9, 2026 at 9:30 am
Briefing.com Summary:
*After a spirited buy-the-dip rally on Friday, the market is in a cooling-off period this morning.
*Bitcoin is back below $70,000 after rebounding Friday from the threshold of $60,000.
*Macro focal points this week will be the retail sales, employment situation, and CPI reports.
Unlike the Super Bowl, Friday’s session was chock full of exciting plays, culminating in one touchdown after another for the broad universe of stocks. The biggest play of the day, though, was the Dow Jones Industrial Average topping 50,000 for the first time ever. It was akin to spiking the ball in the end zone.
It was a positive show of force from the buy-the-dip crowd, which carried the S&P 500 back above its 50-day moving average and carried a collection of tech stocks and other high-beta stocks back from the brink. The market started higher and stayed higher into the close and repaired a large chunk of the intra-week damage incurred by the cap-weighted indices.
Things are starting on a much less ebullient note this morning. Some may attribute that to post-Super Bowl grogginess, but it has the feel simply of being a consolidation trade after Friday’s big comeback.
The S&P 500 futures are down 10 points and are trading 0.1% below fair value, the Nasdaq 100 futures are down 64 points and are trading 0.2% below fair value, and the Dow Jones Industrial Average futures are down 65 points and are trading 0.1% below fair value.
That same consolidation feeling is working its way through the cryptocurrency market. Bitcoin (-3.3% to $69,129) is back below $70,000 after a move on Friday that saw it rally back from the threshold of $60,000.
Elsewhere, Japan’s Nikkei scored a touchdown of its own today, gaining 3.9% amid reports that Prime Minister Takaichi’s party won a supermajority in a snap election, even before accounting for the seats won by the LDP’s coalition partner Ishin. Investors assumed that the big election win will be an opening for additional fiscal stimulus.
Closer to home, Congress will be tangling this week over figuring out DHS funding before Friday’s deadline. The Hill reports that Republicans and Democrats remain far apart on the issue.
There aren’t a lot of other macro items in play today. That will change as the week unfolds, starting with the December retail sales report on Tuesday and continuing with the January employment report on Wednesday and the January CPI report on Friday.
Treasuries are little changed. The 2-yr note yield is down one basis point to 3.49%, and the 10-yr note yield is up one basis point to 4.22%.
—
Originally Posted February 9, 2026 – The feel of a consolidation trade
For specific platform feedback and suggestions, please submit it directly to our team using these instructions.
If you have an account-specific question or concern, please reach out to Client Services.
We encourage you to look through our FAQs before posting. Your question may already be covered!
Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from Briefing.com and is being posted with its permission. The views expressed in this material are solely those of the author and/or Briefing.com and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses. Eligibility to trade in digital asset products may vary based on jurisdiction.
TRADING IN BITCOIN FUTURES IS ESPECIALLY RISKY AND IS ONLY FOR CLIENTS WITH A HIGH RISK TOLERANCE AND THE FINANCIAL ABILITY TO SUSTAIN LOSSES. More information about the risk of trading Bitcoin products can be found on the IBKR website. If you're new to bitcoin, or futures in general, see Introduction to Bitcoin Futures.
Related Articles
So what is the difference between “the pause that refreshes” and building a top? “Consolidation” doesn’t mean much yet. In my own humble opinion, it is the latter of the two.