The $QQQ structural pathway projected from the Feb 1, 2026 EGTI and EGTB signals continues to align with realized price action, reinforcing the view that current market behavior reflects re-calibration within an intact uptrend rather than structural deterioration.

Beneath a seemingly ordinary bear market, 2022 delivered one of the most significant structural recalibrations in modern equity history. By analyzing internal participation, valuation discipline, and historical tightening cycles, this report argues that markets may already be operating within a post-reset regime.