Market Prep: Will the Cluster of Supports Hold?
SPX/ NDX Levels, and Trade Ideas
Hi everyone,
Hope the long weekend provided a solid reset.
Today, we’re going to also focus on the USA/IRAN tensions that are extremely high.
President Trump has threatened military action and deployed a second aircraft carrier group to the Middle East, while Tehran has warned it will target U.S. bases in response to any attack.
The second round of indirect talks between the U.S. and Iran is scheduled to begin tomorrow, Tuesday, February 17, 2026, in Geneva, Switzerland.
These discussions are being mediated by Oman, with the Omani Embassy in Geneva serving as the primary venue. As of today, Monday, February 16, key diplomats have already arrived:
Iran: Foreign Minister Abbas Araghchi is on the ground and met with his Omani counterpart today to finalize preparations.
U.S.: Envoys Steve Witkoff and Jared Kushner are traveling to lead the American side of the indirect negotiations.
President Trump has stated he will be involved “indirectly” from the U.S. and has expressed cautious optimism, though he warned of “traumatic” consequences if a deal isn’t reached within the month.
These talks are critical for our market levels. We’re likely to see high volatility in Gold and Oil tonight and through tomorrow’s New York session. (Please review the commodities report from yesterday).
🛑 The Geneva Watchlist: US-Iran Indirect Talks
