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Question: GLTR - possible cup and handle or risk of double top - thank you. The Aberdeen Standard Physical Precious Metals Basket Shares ETF (GLTR) has rising 13-, 26-, and 40-day moving averages (DMA)s from 176.25 down to 172.52 and is trading within a potential bullish consolidation until proven otherwise. This pattern may require additional time to fully form, but if Wednesday’s high at 183.45 serves as the breakout point, a decisive move above that level would open the do

Technology gapped lower on today's open, with XLK retesting last Friday's hammer at 281.60 on today's undercut down to 280.29. While it is encouraging to see an intra-day bounce to fill the opening downside gap, it would take a move above the rising 50-day and 40-day moving averages near 285.17 and 288.60, respectively, to reinforce a bullish trend. Chart 1: SPDR Technology Select Sector Fund ETF (XLK): Daily candlestick chart The important weekly chart support zone holds so

We flagged a potential tactical breakout for silver futures in our Monday, November 10 blog. Silver quickly confirmed this view by breaking out of its tactical triangle on a move above 49.00–49.23 after defending its rising 40-day moving average as support on a bullish engulfing pattern and bullish hammer (October 29 Straight from the Chart ). On Wednesday and Thursday, silver futures tested key breakout objectives at 52.40 (pattern count) and 53.77 (October high) before form

All eyes are on key support for the iShares Russell 2000 ETF (IWM) at 237.55-236.27, which is getting pounded on by the bears heading into the last hour of today's trading. The two weekly bearish engulfing patterns from October continue to weigh on small caps, keeping pressure on the recent uptrend. If this key support for IWM breaks, the risk increases for a deeper pullback to 222, which aligns with the 38.2% retracement of the April-October rally at 221.81. We view 237.55-2

In this installment of Tech Speak 101 , Steve explores Price Gaps  — a key concept in Technical Analysis that reveals sudden shifts in market sentiment. He breaks down: What a price gap is and how it forms The difference kinds of gaps How provide “air pockets” of support or resistance Real-world examples of gaps in action 📘 Want to dive deeper? Download Steve’s Price Gaps Reference Guide  for a quick overview and key insights you can apply to your charts.

As highlighted in our November 10th The Sector Edge , the U.S. equity market is rotating away from Growth into other pockets of the market. Healthcare, Energy, and Financials leadership over the last month and last week S&P 500 GICs level 1 sector ETFs that are showing leadership over the last month are Healthcare (XLV), Energy (XLE), and Financials (XLF) . This means that the Growth sector ETFs - Technology (XLK), Communication Services (XLC), and Discretionary (XLY) - have

One of our favorite breadth indicators — net new 52-week highs — has firmed up on the S&P 500 (SPX), and that’s a healthy sign for the market. The next hurdle is to see this indicator push above the September and July peaks in the 41–48 range. That would confirm that the rally from the April low still has legs. For perspective, net new highs were much stronger in 2024, when they climbed above 100 net new highs — a level that marked broad and powerful participation in the mar

We have a few subscribers looking for an update on BAC. BAC: A breakout from a big cup and handle base points to 62 and 70 We highlighted Bank of America (BAC) as bullish in our Jul 31 The Stock Pulse report. Continuing to hold the 50-48 area would keep the breakout from a late 2021 into mid 2025 big base cup and handle formation intact for further upside beyond the late 2006 and late 2007 peaks from 52.94 to 55.08 toward the cup and handle pattern counts at 62 and 70. Risin

We received a question on the chart for 4D Molecular Therapeutics (FDMT), a small cap biotech name. FDMT: Holds support (10.03-9.63) and reasserts uptrend for the 12- and 15-handles A breakout above 7.59 confirmed a December 2024-September 2025 bottoming pattern for FDMT that favors upside to 12.43-12.85 (38.2% of the July 2024-April 2025 decline). FDMT approached this upside target in late October prior to a pullback into early November. This pullback defended key chart supp

A developing head and shoulder bottom for ADM ADM is building a potential early 2024 into late 2025 (maybe early 2026) head and shoulders (H&S) bottom. Holding the rising 26- and 40-week moving averages (WMAs) from 57.26 to 53.81 could carve out the right shoulder, but even if ADM declined into the zone of the left shoulder lows a 52.28-50.72, the stock would still be within this potentially bullish pattern. If the right shoulder successfully forms, we will look for a breakou

DJI: Bullish patterns continue to support upside to 49,000 and 53,000 Upside breakouts from a March-June head and shoulders (H&S) bottom and a bigger November 2024-August 2025 bullish consolidation remain intact on the Dow Jones Industrial Average (DJI) and project upside to 49,000 (H&S target) and 53,000-53,400 (100% extension and bullish consolidation target). Rising 13-, 26-, and 40-day moving averages from 47,392 to 46,685 reinforce this bullish trend, and Friday's low at

We received a question on CommScope (COMM), which we flagged as bullish in our July 31 The Stock Pulse report. CommScope (COMM): Bullish above 16.06-14.69 with potential to 21.68-22.18 COMM maintains a constructive technical setup after completing a mid-2023 to mid-2025 bottoming pattern in late June. The stock gapped higher in early August, reaching upside objectives from 11.30 to 13.40 before breaking above the late 2022 highs at 12.88–13.73. COMM has continued to rally, c

We received a question the iShares Latin America 40 ETF (ILF). iShares Latin America 40 ETF (ILF): Breaks out from a double bottom ILF is confirming a bullish breakout from a mid-2022 to late-2025 double bottom pattern. Sustaining strength above the breakout zone at 29.84–29.00 would keep the formation intact and support further upside toward the 37.00–38.75 area. A secondary head-and-shoulders bottom that developed from mid-2024 to mid-2025 reinforces this bullish setup and

We last highlighted Alibaba (BABA) in this blog on October 22, and the stock remains within a corrective phase. This post updates our view and flags the risk of a 1-month bearish head and shoulders pattern. Alibaba (BABA): Watch key supports for post-breakout corrective phase The early September breakouts above 134 and 145 completed a late 2021-late 2025 big base for BABA. This breakout established upside potential toward the 50% and 61.8% retracements of the late 2020–late 2

S&P 500 Equal Weight (RSP) rebounds after holding key support at 185 The S&P 500 Equal Weight ETF (RSP) defended major tactical support at the October 10 low near 185, forming a bullish engulfing pattern on November 6–7. Today’s upside follow-through confirms that signal, suggesting a successful test of support. The next hurdle is reclaiming the declining 13-, 26-, and 40-day moving averages, which cluster between 188.59 and 188.88, followed by filling the October 29 downside

Ambarella (AMBA): A breakout above 89-93.44 would confirm a 2022-2025 big base Ambarella (AMBA) is positioned to complete a major base that has been developing since mid-2022. A decisive breakout above 89.00–93.44 would confirm the base and signal upside potential beyond the early 2023 high at 99.86 toward 110.95 (38.2% retracement of the late 2021–early 2025 decline), 133.22 (50% retracement), and 147 (pattern target). Holding above support at 83–81, defined by the rising 13

Bitcoin (BTCUSD) has pulled back from its October 6 peak of 126,227, forming a potential falling wedge. A bullish divergence on the daily MACD supports a tactical rally. Reclaiming the 13-, 26-, and 40-day moving averages at 106,180–111,750 would confirm the wedge and open upside toward prior highs near 123,000–126,227. Key support to watch: the early November low at 98,983. Bitcoin (BTCUSD): Improving momentum sets up a bullish wedge Bitcoin / U.S. Dollar (BTCUSD) has strugg

We flagged that silver futures were defending support within a tactical uptrend defined by rising 26- and 40-day moving averages (DMAs) in this blog on October 29. This pattern has continued to develop with the potential for a tactical base solidified by a bullish hammer (Oct 28) and a bullish engulfing pattern (Nov 4 and Nov 5). So, what's next? Silver futures: Rally above 48.74-49.23 needed confirm tactical base for 52.40 The big tactical question: Will a bullish hammer (Oc

Let's start with the bad news... Weekly upside gaps got filled to suggest upside exhaustion on SPX, NDX, and DJI We highlighted the importance of last week's upside gaps across the S&P 500 (SPX), NASDAQ 100 (NDX), and Dow Jones Industrial Average (DJI) in this blog on November 3rd and in our Charted Market Insights from November 4th. Long story short, these weekly gaps got filled to suggest upside exhaustion. In addition, these indices confirmed bearish weekly candles. SPX:

Quanta Services (PWR): Bullish breakouts support upside to 487-504 PWR has two bullish breakouts: One from a late 2024 into mid 2025 bullish consolidation pattern and the other from a late July into early October bullish consolidation pattern. These pattern breakouts support further upside to 487 and 504. Continuing to defend the rising 26- and 40-day moving averages near 437-423 would keep immediate pattern bullish. The 404.50-398.85 zone offers additional support if needed.