The Edge - InsiderStreet.ai | February 23, 2026

🔥 PRE MARKET MOVERS

Pre-Market Session • 07:00 ET • $0.0T Total Volume

📈 Top Gainers by $ Volume

AG +11.18% $868M

RNG +34.40% $574M

ETSY +8.39% $477M

AXTI +24.65% $429M

CELH +9.49% $414M

AAOI +10.00% $412M

TNDM +32.67% $312M

VICR +11.23% $294M

SEDG +8.41% $232M

FSM +12.62% $192M

📉 Top Losers by $ Volume

NBIS -9.00% $1.7B

AKAM -14.07% $1.5B

ONDS -11.94% $1.1B

GRAL -50.55% $777M

FROG -24.94% $569M

OKTA -9.18% $451M

KTOS -9.08% $445M

EGO -9.72% $421M

FIGR -11.57% $290M

AMG -10.72% $279M

🐷 PIG ROAST

AG +11.2% defenseworld.net: Silver miner crushes earnings expectations, rockets 11.2% to $27.55—up 416% in a year, because who needs fiat when you've got shiny rocks?

RNG +34.4% fool.com: AI-powered comms beast surges 34.4% to $39.50 on hot demand and fat profits—YTD +43%, finally living up to the hype without the hangover.

CELH +9.5% zacks.com: Energy drink darling pops 9.5% to $48.32, betting on another earnings beat—flat YTD but +85% yearly, because caffeine addicts never quit.

AAOI +10.0% defenseworld.net: Optics play jumps 10% to $51.68 on zero news, just vibes and conference chatter—YTD +31%, riding the tech wave like it's free.

VICR +11.2% seekingalpha.com: Power tech surges 11.2% to $170 after Q4 earnings transcript drops—up 236% in a year, turning volts into investor gold.

NBIS -9.0% seekingalpha.com: AI cloud hotshot dives 9% to $97.92 despite EBITDA profits—down 31% from peaks, YTD +9% feels like a participation trophy.

AKAM -14.1% gurufocus.com: Beats Q4 estimates but craters 14.1% to $94—YTD +11%, because strong results apparently mean "sell now, ask questions later."

ONDS -11.9% marketbeat.com: Defense drone dream tanks 11.9% to $10 despite NATO wins—down 34% from highs, YTD -9%, +601% yearly? Dead cat bounce incoming.

FROG -24.9% investors.com: Cybersecurity frog splats -24.9% to $37.75 as AI rival Claude steals thunder—down 46% from highs, YTD -37%, CTO cashing out at the perfect time.

OKTA -9.2% feeds.benzinga.com: Identity kingpin slumps another 9.2% to $74, capping a loser week—YTD -11%, down 42% from peaks, growth reset or just reset to zero?

💬 Word on the Street

While Rep. Gilbert Cisneros (D-CA) quietly scooped up shares of Mitsubishi Heavy Industries (MHVIY) for up to $15,000, five insiders at Amkor Technology (AMKR) were sprinting for the exit with nearly $1 billion in stock sales—the kind of gap that makes you wonder who knows something the market doesn't. Elsewhere, silver miners and AI-powered communication platforms are having their moment in the after-hours sun, and smart money just moved $1.4 billion more out the door than in. Here's what the insiders, institutions, and politicians are actually doing with their money today.

🌤️ MARKET WEATHER

Presidential Cycle: Year 2 (2nd Term Year 2) • Donald Trump (R)

We're 38 trading days into Year 2 of Trump's second term, and markets are tracking slightly ahead of the typical second-term pattern—SPY is up 0.6% versus the historical average at this point, though still lagging the broader 20-year seasonal by 0.8%. History shows second-term Year 2 has averaged around 3.5% for the full year, with Q1 typically contributing another 1.5% through mid-March, which would suggest the recent pullback may be within normal cyclical behavior. The tech-heavy QQQ running 0.7% below its second-term Year 2 historical pace is worth monitoring, as that index has typically shown more volatility during this phase of the presidential cycle.

SPY -0.2% YTD

2026 Actual

2nd Term Year 2 Avg

Year 2 Projection

vs 2nd Term Year 2: +0.6%

vs 20yr Seasonal: -0.8%

Day: 38 / 252

QQQ -1.8% YTD

2026 Actual

2nd Term Year 2 Avg

Year 2 Projection

vs 2nd Term Year 2: -0.7%

vs 20yr Seasonal: -3.0%

Day: 38 / 252

📊 2nd Term Year 2 years historically average 3.5% for SPY. Current YTD: -0.2%

📖 HOW TO READ THIS REPORT

The Big Idea: When insiders, institutions, AND politicians all bet on the same stock? That's convergence — and historically, these aligned signals tend to pack more punch than solo moves. We track the smart money so you don't have to.

Signal Badges

ETF Institutional funds adding/removing positions
INSIDER Corporate executives buying/selling their own stock
CONGRESS Politicians making trades (yes, we see you)

Momentum Icons

▲ + Buying Rising Stock: Smart money accumulating as price rises — ideal alignment
+ Buying Falling Stock: Smart money accumulating while price drops — falling knife risk
▲ - Selling Rising Stock: Smart money exiting while price still rising — warning signal
- Selling Falling Stock: Smart money exiting as price drops — confirms downtrend

The Bottom Line: Convergence + aligned momentum = strongest setups. Convergence + divergent momentum = proceed with caution. This isn't financial advice — it's intelligence. What you do with it is on you.

📚 Jargon Buster

Wick Fill

That long shadow on the candle that everyone swore was “rejection”? Yeah, it usually comes back and gets filled like the market’s got OCD.

🎯 SMART MONEY CONVERGENCE

📈 Accumulation Detected (10)

TSLA Tesla, Inc. ⭐ CONGRESS INSIDER ETF

+ Buying Falling Stock 5D -1.3% 3M +2.6% 1Y +14.2%

3 member(s) purchased N/A • 27 insiders purchased $142795.2M • 1353 ETFs increased positions

ORCL Oracle Corporation ⭐ CONGRESS INSIDER ETF

+ Buying Falling Stock 5D -5.4% 3M -32.8% 1Y -17.8%

4 member(s) purchased N/A • 4 insiders purchased $1400.0M • 954 ETFs increased positions

CRWV CoreWeave, Inc. Class A Common Stock ⭐ CONGRESS INSIDER ETF

▲ + Buying Rising Stock 5D -6.7% 3M +19.2%

2 member(s) purchased N/A • 46 insiders purchased $279.2M • 237 ETFs increased positions

PG The Procter & Gamble Company ⭐ CONGRESS INSIDER ETF

▲ + Buying Rising Stock 5D -0.2% 3M +9.4% 1Y -1.5%

5 member(s) purchased N/A • 17 insiders purchased $134.3M • 674 ETFs increased positions

MCD McDonald's Corporation ⭐ CONGRESS INSIDER ETF

▲ + Buying Rising Stock 5D -0.8% 3M +8.8% 1Y +11.6%

2 member(s) purchased N/A • 11 insiders purchased $133.5M • 731 ETFs increased positions

FDS FactSet Research Systems Inc. ⭐ CONGRESS INSIDER ETF

+ Buying Falling Stock 5D -3.4% 3M -28.0% 1Y -57.7%

9 member(s) purchased N/A • 24 insiders purchased $111.1M • 315 ETFs increased positions

LLY Eli Lilly and Company ⭐ CONGRESS INSIDER ETF

+ Buying Falling Stock 5D -2.6% 3M -2.0% 1Y +17.1%

16 member(s) purchased N/A • 52 insiders purchased $104.2M • 907 ETFs increased positions

DASH DoorDash, Inc. ⭐ CONGRESS INSIDER ETF

+ Buying Falling Stock 5D +9.4% 3M -16.9% 1Y -17.3%

7 member(s) purchased N/A • 11 insiders purchased $100.3M • 590 ETFs increased positions

SMCI Super Micro Computer, Inc. ⭐ CONGRESS INSIDER ETF

▲ + Buying Rising Stock 5D +6.5% 3M -7.1% 1Y -46.2%

3 member(s) purchased N/A • 2 insiders purchased $90.0M • 398 ETFs increased positions

V Visa Inc. ⭐ CONGRESS INSIDER ETF

+ Buying Falling Stock 5D -0.9% 3M -0.0% 1Y -9.1%

9 member(s) purchased N/A • 7 insiders purchased $84.7M • 894 ETFs increased positions

😱 VOLATILITY & FEAR

Equity market volatility remains elevated with the VIX at 20.23, though it declined 2.8% over the past week, suggesting a modest reduction in near-term fear among stock investors. In contrast, bond market volatility has retreated sharply, with the MOVE index dropping 12.7% week-over-week to 10.89, indicating significantly calmer conditions in fixed income markets. This divergence shows equity traders pricing in continued uncertainty while bond investors have grown considerably more comfortable with interest rate expectations.

VIX

20.23

-2.8% WoW

➡️

Elevated

MOVE

10.89

-12.7% WoW

➡️

Low

|| Market Sutra ||

"Systems fail when emotions enter."

— Amateurs overrode stops during the 2011 Eurozone crisis and paid the price.

📊 MARKET REGIME

Market leadership has rotated sharply toward defensive positioning, with Materials, Consumer Staples, and Utilities all showing participation rates above 97% while growth-oriented sectors like Technology and Communication Services lag significantly at 47% and 35% respectively. This defensive tilt appears across major indices, though a notable divergence exists between the Nasdaq's weaker 52% breadth and the Transportation index's stronger 79% participation, suggesting uneven conviction in the current risk-off rotation. The widening performance gap between cyclical defensives and growth sectors indicates investors are repositioning portfolios away from rate-sensitive technology names.

Sector Strength

🧱 Materials

100.0%

+0.2%

🛒 Consumer Staples

97.2%

-1.5%

⚡ Utilities

96.8%

+2.4%

⛽ Energy

95.5%

+1.7%

🏭 Industrials

75.9%

+2.6%

🏠 Real Estate

74.2%

+1.6%

🔌 Semiconductors

72.0%

+2.2%

🛍️ Consumer Discretionary

65.3%

+1.2%

🏥 Healthcare

53.3%

+0.5%

💻 Technology

47.1%

+1.2%

🏦 Financials

43.2%

+1.5%

📡 Communication

34.8%

+1.9%

📈 INDEX BREADTH

SPY

66.0%

BULLISH

QQQ

51.5%

NEUTRAL

DIA

70.0%

BULLISH

IYT

79.1%

BULLISH

💧 FED LIQUIDITY

Net Liquidity: $6.61 Trillion

↓ $9.0B WoW

As of February 18, Fed net liquidity stood at $6.61 trillion, down $9.0 billion from the prior week, indicating a modest tightening in financial conditions as the central bank continues to manage its balance sheet. The next H.4.1 release drops Thursday, February 26, which will show whether this liquidity drain accelerated or reversed—a data point closely watched by institutional investors given liquidity's historical correlation with risk asset performance.

📅 ECONOMIC CALENDAR Surprise Index: +2.6

Yesterday's data painted a stagflationary picture as Q4 GDP growth collapsed to 1.4% from 4.4% prior—missing the 2.8% estimate by 140 basis points—while the Fed's preferred Core PCE inflation gauge accelerated to 0.4% month-over-month, double the 0.2% consensus and matching its hottest pace since early 2023. The simultaneous deceleration in economic activity and reacceleration in price pressures complicates the Fed's path forward, particularly as CFTC data showed speculators increased their net short positions in S&P 500 futures to -177.8K from -105.1K, reflecting growing bearish sentiment on equities. Markets now turn to Fed Governor Waller's speech today and a parade of Fed officials tomorrow including Goolsbee, Bostic, Collins, Cook, and Barkin, with traders parsing any commentary on whether December's inflation surprise represents a trend reversal or transitory spike, while Tuesday's Consumer Confidence reading (expected at 87.6 versus 84.5 prior) will test whether households are internalizing the growth slowdown alongside persistent inflation pressures.

Yesterday — Friday, February 20

26 events · 5 beats · 10 misses

13:30 Gross Domestic Product QoQ (Q4) 1.4% vs 2.8% est

13:30 GDP Growth Rate QoQ (Q4) 1.4% vs 3.5% est

13:30 GDP Price Index QoQ (Q4) 3.7% vs 3.6% est

13:30 PCE Price Index YoY (Dec) 2.9% vs 2.8% est

13:30 PCE Price Index MoM (Dec) 0.4% vs 0.3% est

13:30 Personal Spending MoM (Dec) 0.4% vs 0.4% est

13:30 Core PCE Price Index MoM (Dec) 0.4% vs 0.2% est

13:30 Personal Income MoM (Dec) 0.3% vs 0.1% est

14:45 S&P Global Composite PMI Flash (Feb) 52.3 vs 52.6 est

14:45 S&P Global Manufacturing PMI Flash (Feb) 51.2 vs 51.8 est

14:45 S&P Global Composite PMI (Feb) 52.3 vs None est

14:45 S&P Global Services PMI (Feb) 52.3 vs 53.0 est

14:45 S&P Global Manufacturing PMI (Feb) 51.2 vs 52.4 est

14:45 S&P Global Services PMI Flash (Feb) 52.3 vs 52.5 est

15:00 New Home Sales (Dec) -1.7% vs -2.8% est

15:00 Michigan Consumer Sentiment (Feb) 56.6 vs 57.3 est

15:00 New Home Sales (Nov) 15.5% vs -3.7% est

15:00 Inflation Expectations (Feb) 3.3% vs 3.4% est

16:00 Atlanta Fed GDPNow (Q1) 3.1% vs 3.0% est

20:30 CFTC Nasdaq 100 speculative net positions 24.4K vs NoneK est

20:30 CFTC Gold Speculative net positions 159.9K vs NoneK est

20:30 CFTC S&P 500 speculative net positions -177.8K vs NoneK est

20:30 CFTC Crude Oil speculative net positions 141.3K vs NoneK est

Today — Monday, February 23

5 events · 5 upcoming

13:00 Fed Waller Speech Pending

13:30 Chicago Fed National Activity Index (Jan) est 0.3 / prev -0.03

13:30 Chicago Fed National Activity Index (Dec) est 0.1 / prev -0.04

15:00 Factory Orders MoM (Dec) est 0.9% / prev 2.7%

15:30 Dallas Fed Manufacturing Index (Feb) est -3.5 / prev -1.2

Tomorrow — Tuesday, February 24

12 events · 1 high impact

13:00 Fed Goolsbee Speech Pending

14:00 S&P/Case-Shiller Home Price YoY (Dec) est 1.4% / prev 1.4%

14:00 Fed Bostic Speech Pending

14:00 Fed Collins Speech Pending

14:10 Fed Waller Speech Pending

14:15 Fed Waller Speech Pending

14:30 Fed Cook Speech Pending

15:00 CB Consumer Confidence (Feb) est 87.6 / prev 84.5

16:30 Atlanta Fed GDPNow (Q1) est 3.1% / prev 3.1%

20:15 Fed Barkin Speech Pending

20:15 Fed Collins Speech Pending

21:30 API Crude Oil Stock Change (Feb/20) prev -0.609

🏦 INSTITUTIONAL FLOW

Institutional flow this week shows mixed positioning in mega-cap technology, with 1,353 ETFs adding TSLA and 1,184 adding AVGO, while nearly as many reduced exposure (775 and 996 respectively), suggesting active rebalancing rather than directional conviction. The notable exception is PLTR drawing 992 net additions in the software/AI infrastructure space, while healthcare saw broad reduction with 677 ETFs trimming LLY positions.

Top Buying

TSLA Tesla, Inc. ⭐

+ Buying Falling Stock 5D -1.3% 3M +2.6% 1Y +14.2%

1353 ETFs • 0 shares

AVGO Broadcom Inc. ⭐

+ Buying Falling Stock 5D +0.5% 3M -2.3% 1Y +45.9%

1184 ETFs • 0 shares

PLTR Palantir Technologies Inc. ⭐

+ Buying Falling Stock 5D +4.7% 3M -19.2% 1Y +20.7%

992 ETFs • 0 shares

ORCL Oracle Corporation ⭐

+ Buying Falling Stock 5D -5.4% 3M -32.8% 1Y -17.8%

954 ETFs • 0 shares

LLY Eli Lilly and Company ⭐

+ Buying Falling Stock 5D -2.6% 3M -2.0% 1Y +17.1%

907 ETFs • 0 shares

Top Selling

AVGO Broadcom Inc. ⭐

- Selling Falling Stock 5D +0.5% 3M -2.3% 1Y +45.9%

996 ETFs • 0 shares

TSLA Tesla, Inc. ⭐

- Selling Falling Stock 5D -1.3% 3M +2.6% 1Y +14.2%

775 ETFs • 0 shares

LLY Eli Lilly and Company ⭐

- Selling Falling Stock 5D -2.6% 3M -2.0% 1Y +17.1%

677 ETFs • 0 shares

V Visa Inc. ⭐

- Selling Falling Stock 5D -0.9% 3M -0.0% 1Y -9.1%

612 ETFs • 0 shares

CRM Salesforce, Inc. ⭐

- Selling Falling Stock 5D -0.1% 3M -20.6% 1Y -42.6%

577 ETFs • 0 shares

🏛️ CONGRESSIONAL TRADES

Rep. Gilbert Cisneros purchased positions in three international companies—MHVIY, BABA, and HESAY—demonstrating concentrated activity in foreign equities. Meanwhile, four separate representatives reduced holdings in established technology and financial positions, with Rep. Jake Auchincloss selling STT, Rep. John McGuire selling MSFT, and Rep. Michael McCaul selling ASML.

Top Buying