Reports

*** Please see the bottom of this report for important disclaimers and disclosures.*** Breadth bullish but SPX churns on lagging mega caps Market breadth is strong even as the SPX churns below its record high at 7002 The S&P 500 (SPX) is churning, hitting marginal new record highs into early 2026 and reaching 7002 in late January. Although the SPX has made little upward progress since late October, breadth indicators remain bullish. The 52-week high versus 52-week low spread

*** Please see the bottom of this report for important disclaimers and disclosures.*** Three bulls: EWBC, FANG, and NEE; One vulnerable: NRG Three bullish stocks: EWBC, FANG, and NEE; One vulnerable stock: NRG East West Bancorp (EWBC), Diamondback Energy (FANG), and  NextEra (NEE)  show bullish technicals, while NRG Energy (NRG)  is at risk. EWBC  is holding a bullish cup-and-handle breakout above 114–110 with upside potential to 148–152. FANG  is attempting a breakout from

*** Please see the bottom of this report for important disclaimers and disclosures.*** IWM, DJI, DJT, and IYT plus bottoms on TYX, TNX, and FVX Russell 2000 (IWM): Upside potential to 275 and 282.50 The Russell 2000 (IWM) tested key chart and rising 26-/40-day moving average (DMA) support at 259.20-256.62 and formed a bullish engulfing pattern over the last two sessions (1/30 and 2/2). Continuing to hold this support and then breaking above 263.97-264.36 (61.8% extension and

*** Please see the bottom of this report for important disclaimers and disclosures.*** Banks led in January plus key movers: XLC, XLK, GDX, and SIL Tactical Ranks: Cyclicals (XLE, XLB, and XLI) top three as XLK stays in bottom five The Top Five Tactical Sector Ranks  are Energy (XLE), Materials (XLB), Industrials (XLI), Comm Services (XLC), and Staples (XLP). XLE, XLI, and XLC also appear in the top five of the 52-week Ranks. The Bottom Five Tactical Sector Ranks  are Utilit

*** Please see the bottom of this report for important disclaimers and disclosures.*** As goes January, so goes the year January often provides a barometer for the year The January Barometer is a classic seasonal indicator built on a simple idea: as goes January, so goes the year. Introduced by Yale Hirsch in the Stock Trader’s Almanac  in 1972, it suggests that early-year momentum often carries through the remainder of the calendar year. Data back to 1928 support this tende

*** Please see the bottom of this report for important disclaimers and disclosures.*** Three bulls: CME, MDB, and VRT; One vulnerable: MTN Three bullish stocks: CME, MDB, and VRT; One vulnerable stock: MTN CME Group (CME), MongoDB (MDB), and  Vertiv (VRT) show bullish technical patterns, while Vail Resorts (MTN)  remains vulnerable. CME  has a constructive setup with a big-base breakout and bullish H&S pattern targeting 315–330 if resistance near 286–291 is cleared. While a

*** Please see the bottom of this report for important disclaimers and disclosures.*** NDX firms up, MAGS vs. NDX, Dow Theory, and risk-on signals NDX: Firms up but a rally above the 25,762-25,888 needed to confirm a base The NASDAQ 100 (NDX) remains within a potential bullish consolidation pattern that has formed since the early November downside gap. Sustaining the rally above the 13-, 26-, and 40-day moving averages (DMAs) at 25,550-24,461 after bouncing from last Tuesday

*** Please see the bottom of this report for important disclaimers and disclosures.*** Ranks and scores plus XLF, XLB, XLE, XLU, and XLP Tactical Ranks: Cyclicals remain in top five as XLK drops into bottom five The Top Five Tactical Sector Ranks  are Materials (XLB), Energy (XLE), Healthcare (XLV), Industrials (XLI), and Discretionary (XLY). XLY replaced Technology (XLK) in the top five. XLB, XLV, and XLI also have top five 52-week Ranks. The Bottom Five Tactical Sector Ran

*** Please see the bottom of this report for important disclaimers and disclosures.*** New highs expand; bullish setups on IWC, QQQE, EWW, & UAE Russell 2000 volume A-D line hits a new high to confirm the small cap rally The longer-term pattern on the Russell 2000 (IWM) remains bullish with an absolute price breakout from a big base and a relative bottom from the 2025 lows vs. the S&P 500 (SPX) (Jan 13 Charted Market Insights ). Prior to IWM’s rally out of its late 2021-late

*** Please see the bottom of this report for important disclaimers and disclosures.*** The rundown after a gap lower for the SPX SPX: Gap lower invalidates tactical breakout Another round of tariff rhetoric from President Trump triggered a sharp selloff in U.S. equities, with Tuesday’s (1/20) gap lower invalidating the S&P 500’s tactical breakout. The decline pushed the index below initial support at its rising 13-week moving average and the January 2 low (6829–6824). This w

*** Please see the bottom of this report for important disclaimers and disclosures.*** Cyclicals top ranked, IGV bearish, and URA bullish Tactical Sector Ranks The Top Five Tactical Sector Ranks  are Industrials (XLI), Materials (XLB), Energy (XLE), Healthcare (XLV), and Technology (XLK). XLE replaced Discretionary (XLY) in the top five. XLI, XLB, XLV, and XLK also appear in the top five of the 52-week Ranks. XLI, XLB, and XLE reached 52-week weekly closing basis highs last

*** Please see the bottom of this report for important disclaimers and disclosures.*** Breadth bullish, Platinum, Ethereum, and high yield OAS Breadth remains solid: NYSE stocks advance-decline line scores a new high The broad-based NYSE Composite continues to reach all-time highs. Market breadth suggests broad participation in the rally and is confirming these highs. The NYSE stocks advance-decline (A-D) line pushed to a new high yesterday, joining both the NYSE issues and

*** Please see the bottom of this report for important disclaimers and disclosures.*** Three bulls: ADM, AFL, and EVRG; One vulnerable: CI Three bullish stocks: ADM, AFL, and EVRG; One vulnerable stock: CI Archer Daniels Midland (ADM), Aflac (AFL), and Evergy (EVRG)  show bullish technical patterns, while Cigna (CI)  remains vulnerable. ADM is forming a 2-year head-and-shoulders bottom, with a breakout above 65.00–66.08 needed to confirm it and open upside toward 79.60 and

*** Please see the bottom of this report for important disclaimers and disclosures.*** The charts that matter as 2026 begins SPX: Erratic returns in years following three consecutive up years Following a 19.4% decline in 2022—the most recent mid-term election year—the S&P 500 (SPX) has rallied for three consecutive years, posting double-digit gains of 24.2% in 2023, 23.3% in 2024, and 16.4% in 2025. Three straight up years following a down year have occurred only 13 times si

*** Please see the bottom of this report for important disclaimers and disclosures.*** Ranks plus XLI, XLY, XLP, ICLN, and REMX Tactical Sector Ranks The Top Five Tactical Sector Ranks  are Materials (XLB), Healthcare (XLV), Discretionary (XLY), Industrials (XLI), and Technology (XLK). XLB, XLI, and XLK also appear in the top five of the 52-week Ranks. The Bottom Five Tactical Sector Ranks  are Real Estate (XLRE), Utilities (XLU), Staples (XLP), Communication Services (XLC),

*** Please see the bottom of this report for important disclaimers and disclosures.*** Mag 7 struggles, mid-caps strengthen, and silver tilts bullish Magnificent Seven (MAGS) breaks lower from H&S tops vs. SPY and RSP The Roundhill Magnificent Seven ETF (MAGS) peaked versus the SPDR S&P 500 ETF (SPY) in late October and has since broken down from a mid September into late December head and shoulders (H&S) top. In addition, MAGS has also confirmed a similar H&S top relative t

*** Please see the bottom of this report for important disclaimers and disclosures.*** Three bulls: APTV, HLT, and MCO; One vulnerable: GPN Three bullish stocks: APTV, HLT, and MCO; One vulnerable stock: GPN Aptiv (APTV), Hilton (HLT), and  Moody’s (MCO) show bullish technical patterns, while Global Payments (GPN)  remains vulnerable. APTV is building a late-2023 to early-2026 bottoming pattern, with a breakout above 88.80–91.66 needed to confirm upside toward 98.23, 114.0

*** Please see the bottom of this report for important disclaimers and disclosures.*** SPX plus breadth, RSP, IWM, Dow Theory, and seasonality SPX: Solid breadth indicators support the case for higher highs The S&P 500 (SPX) remains in an uptrend and continues to trade within a potential bullish consolidation pattern. While a decisive price breakout has so far been elusive, underlying market breadth remains solid. Strength in the SPX advance-decline line, volume advance-decl

*** Please see the bottom of this report for important disclaimers and disclosures.*** Ranks plus a look at Energy, Technology, and Steel Narrow sector leadership in 2025: Only XLK, XLC, and XLI beat the SPY The SPDR S&P 500 ETF (SPY) posted a solid +16.4% gain in 2025, but market leadership was narrow. Only Technology (XLK), Communication Services (XLC), and Industrials (XLI) outperformed the benchmark, advancing 23.8%, 21.6%, and 17.7%, respectively. In contrast, tradition

*** Please see the bottom of this report for important disclaimers and disclosures.*** NYSE bullish but breadth mixed, sentiment, and China ETFs The broad-based NYSE Composite continues to show strength The NYSE Composite continues to show strength. A tactical breakout and retest pattern favors near-term upside to 22,500-22,700 on this broad-based U.S. equity index. Holding above 21,800-21,740 keeps this breakout in place, and rising 13- 26-, and 40-day moving averages from