ETF Market Review: February Outlook Signals Strong Performance February 9, 2026
Current Market Trends Analysis
The technical landscape across major asset classes reveals distinct patterns heading into February. The S&P 500, Gold, and Singapore Equities are currently maintaining upward trends. Meanwhile, US Treasury Bonds, Oil, and the Hang Seng Index have entered range consolidation phases. Bitcoin stands out as the only major asset class currently experiencing a downtrend, reflecting ongoing volatility in the cryptocurrency space.
February Market Outlook
Looking ahead to February, we anticipate a bullish environment for several key asset classes. ETFs tracking the S&P 500 are expected to continue their upward trajectory. Oil ETFs are projected to gain momentum despite their current consolidation phase, potentially building on January’s strong performance. Singapore Equities and the Hang Seng Index are both positioned for gains, with the latter expected to break out of its current range-bound trading pattern.
However, not all asset classes are expected to maintain their positive momentum. Gold ETFs are likely to experience a pullback after their recent uptrend, while Bitcoin ETFs may continue facing headwinds given their current downward trajectory. US Treasury Bond ETFs are expected to remain in their current rangebound pattern, suggesting limited directional movement in the near term.
Frequently Asked Questions
Q: Which ETF was the top performer in January?
A: The ETF tracking Oil (XOP) was the top performer, surging 11% during January.
Q: Which asset classes declined in January?
A: Only US Treasury Bonds (IEF) and Bitcoin (BITO) posted negative returns, falling 0.2% and 4.6% respectively.
Q: What asset classes are currently in an uptrend?
A: The S&P 500, Gold, and Singapore Equities are currently maintaining upward trends. .
Q: Which markets are expected to gain in February?
A: ETFs tracking the S&P 500, Oil, Singapore Equities, and the Hang Seng Index are expected to post gains in February.
Q: What is the outlook for Gold and Bitcoin ETFs?
A: Both Gold and Bitcoin ETFs are likely to experience pullbacks in February, despite Gold’s current uptrend. .
Q: Which asset classes are in range consolidation phases?
A: US Treasury Bonds, Oil, and the Hang Seng Index are currently in range consolidation phases.
Q: What is expected for US Treasury Bond ETFs in February?
A: US Treasury Bond ETFs are likely to remain rangebound, continuing their current consolidation pattern.
Q: How did most ETFs perform overall in January?
A: Most ETFs were in the green during January, with only two major asset classes posting negative returns.
This article has been auto-generated using PhillipGPT. It is based on a report by a Phillip Securities Research analyst.
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About the author
Zane Aw
Equity Research Analyst
Zane Aw is an equity research analyst focused on technical analysis, covering the Singapore, Hong Kong and United States markets. He applied a rules-based approach that incorporate trend-following techniques, price action, momentum oscillators and other indicators to anticipate key inflection points in individual stocks, sectors and broader indices. He graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).
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