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Markets are seeing continued weakness in premarket trading, with the momentum from yesterday's rally fading, according to Brian Shannon. Both ES and NQ futures remain below the 5SMA and weekly-to-date AVWAP on the hourly chart.
On the 10-minute chart, Shannon highlights the 'TACO news' AVWAP, which marks the average price since that specified event. Current prices are below this level, suggesting the market is not accepting that average price.
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Shannon previously provided analysis of stocks, crypto, and gold for March 6, 2026, discussing key tickers and trends in the broader market. He also offered insights on major ETFs and Bitcoin, covering technology and sector movements in a recent review. These updates contribute additional context to his current technical outlook.