Topics Market Pulse

3 Assets to Watch: Feb 9-13

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Market Pulse
Daily Bits
Feb 9, 2026

Markets are attempting to build on last Friday's (Feb 6th) massive rebound, in what has been a volatile past couple of weeks across major assets.

At the time of writing:

  • Bitcoin (BTC/USDT) is back above the psychological $70,000 level

  • Gold (XAUUSD+) has returned above the psychological $5,000 level

  • Japan's Nikkei225 punched up to a new all-time high today (Monday, Feb 9), though has pared some of its gains, after Prime Minister Sanae Takaichi secured a historic win at this past weekend's snap elections.

  • Even Bybit's DJ30 - which tracks the Dow Jones Industrial Average stock index - has posted a new record high today (Monday, Feb 9).

Feb_9_DJ30.png

This week's major scheduled events may have a large influence on whether these rebounds/new record highs can be sustained.

Here are 3 assets that may produce big trading opportunities for you this week (Feb 9-13):

1) SP500 to hit new record high with daily close above 7,000?

Bybit's SP500 has faced tough resistance at the big, round 7k figure so far in 2026.

On 3 separate attempts, the first being on Jan 13th, this benchmark stock index has yet to secure a daily close above the psychological level.

Bulls will also be heartened that the 100-day simple moving average (SMA) has offered strong support since November, with last week's stunning rebound once again demonstrating that traders aren't willing to keep the SP500 below its 100-day SMA for long.

Feb_9_SP500.png

KEY EVENTS:

  • Wednesday, Feb 11: US January nonfarm payrolls (NFP) data a.k.a. jobs report

NOTE: The monthly US jobs report is typically released on the first Friday of every month. However, the January NFP report has now been delayed from its the 6th to the 11th, because of the recent US government shutdown.

  • Friday, Feb 13: US January consumer price index (CPI) a.k.a. inflation

POTENTIAL SCENARIOS:

  • UPSIDE SCENARIO: The SP500 may secure a daily close above 7k if markets sense that more Fed rate cuts are incoming, if shown evidence of cooling inflation and a resilient jobs market.

  • DOWNSIDE SCENARIO: The SP500 may re-test its 100-day SMA for critical support once more if markets sense that future Fed rate cuts are harder to come by, if shown evidence of higher-than-expected inflation and weakening jobs market.

2) Brent oil to test support at 200-day SMA / $66?

Bybit's UKOUSD - which tracks the global benchmark for oil prices, Brent - has been faltering away from a 5-month high, when it breached the $71/bbl on Jan 29th for the first time since August 1st.

Easing geopolitical tensions, with the US and Iran holding talks last Friday, suggest a path towards easing oil's supply risks (oil may face fewer challenges flowing out into the world)

From a technical perspective, UKOUSD appears hemmed into a tighter triangle pattern, though testing support at its 14-day SMA over the past month.

Feb_9_UKOUSD.png

KEY EVENTS

(besides the US jobs report on Feb 11th and US inflation data on Feb 13th - both of which can move oil prices)

  • Tuesday, Feb 10: EIA issues short-term energy outlook

  • Wednesday, Feb 11: OPEC monthly oil market report

  • Thursday, Feb 12: IEA monthly oil market report

POTENTIAL SCENARIOS

  • UPSIDE BREAKOUT: UKOUSD may break above the downward-sloping upper trendline and strive for $70/bbl if the EIA, OPEC and IEA reports point to tightening supplies due to geopolitical tensions, aided by a weaker US dollar if the incoming CPI and NFP data pave the way for more Fed rate cuts. 

  • DOWNSIDE BREAKOUT: UKOUSD may break below its upward-sloping lower trendline and potentially re-test critical support at its 200-day SMA if the EIA, OPEC and IEA reports suggests easing supply risks, and/or the Dollar rebounds on the idea that the incoming CPI and NFP data raises the bar on Fed rate cuts.

3) Bitcoin to recover to $74,500? Or re-test $60k?

Bitcoin (BTC/USDT) is recovering from its lowest prices since October 2024, attempting to keep its head above the $70k figure for now.

Feb_9_Bitcoin.png

Amid this week's events, and with recent week's capitulation still fresh in the collective memory, traders and investors will be obsessed about whether the recovery sustains or takes another leg down to 2024 lows?

KEY EVENT

  • Tuesday, Feb 10: White House crypto meeting

POTENTIAL SCENARIOS

  • UPSIDE SCENARIO: An extended recovery rally may see Bitcoin reclaim  the $74,500 handle, if this week's CPI and NFP data reinforce the prospects of more Fed rate cuts + positive commentary from the US government.

  • DOWNSIDE SCENARIO: If last Friday's rebound proves meaningless for bulls, Bitcoin may move another leg down and dip into sub-$60k territory, given the confidence crisis evident across the crypto sector of late.