Straight from the Chart

*** 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

AMGEN (AMGN) is a biotech stock that came up as a bullish breakout candidate on this past Wednesday's (2/2/26) The Charted Line Webinar. AMGN is following through, pushing above both the pattern neckline near 345-347 and the 61.8% extension level at 359 and is closing in on the 100% extension at 388. However, the mid 2024 into early 2026 big base favors further upside to 435-440 (161.8% extension and pattern count) on a longer-term basis. Holding the 347-338 zone would keep

Western Alliance Bancorp (WAL) is setting up for a bullish breakout from a late 2024 into early 2026 basing pattern. A decisive rally above 93-95 would confirm this pattern with upside potential beyond the late 2024 peak at 98.10 toward 113-116 (61.8% extension of the early 2023-late 2024 rally projected from the April 2025 low and tactical pattern count) and then to 124-130 (late 2021 peaks and full pattern count). The 100% extension at 147 provides another upside target on

Toll Brothers (TOL) is a homebuilding stock that setting up for an upward breakout from a late 2024 into early 2026 bullish cup and handle formation. A decisive rally above the pattern neckline at 149-150 would confirm this positive technical setup, targeting initial upside to 162-163 (61.8% extension of the rally from the cup low to the handle high projected from the handle low) and 169.52 (late 2024 peak), with longer-term potential to 187 (100% extension) and 214 (cup and

We flagged a tactical upside breakout for Bitcoin (BTC/USD) in Straight from the Chart on January 14, 2026, but Bitcoin rolled over shortly thereafter to invalidate that bullish pattern. The key levels for Bitcoin (BTC/USD) are as follows: Potential supports: 70,888-69,822 (50% retracement of the November 2022 to October 2025 advance and the 61.8% extension of the October-November 2025 decline projected down from the mid January lower high at 97,963) 58,037-57,812 (rising 20

Our December 26, 2025, Straight from the Chart post cited that Robinhood Markets (HOOD) was consolidating within a bullish trend but with risks from a developing head and shoulders top relative to the S&P 500 and a potential overhang from two bearish engulfing patterns on its weekly chart. The bad news is that the risks to HOOD are playing out with the absolute price chart following the relative price chart and breaking lower from a mid 2025 into early 2026 head and shoulde

Bank of America (BAC) is pressuring the late 2006 to late 2007 pre-financial crisis highs at 52.94-55.08. The breakout from a late 2021 into mid 2025 bullish cup and handle pattern remains intact above 50-48 and supports the case for sustained all-time highs with upside counts at 62.50 and 71.00-72.00. We highlighted the potential for this bullish cup and handle pattern breakout in our July 31, 2025, The Stock Pulse . BAC has improved relative to the S&P 500 since late 2023.

We flagged a constructive trend for Alphabet (GOOGL) in this blog on January 9, 2026. The stock has probed to higher highs into early February, reaching an upside count at the 161.8% extension of the November 2022 to February 2025 rally projected from the April 2025 low at 340 ahead of this afternoon's post-market close earnings report. If GOOGL responds negatively to earnings, the key risk management supports come in at 319-316 (higher low and rising 13-week moving average

Palantir (PLTR) reported earnings earlier this week, but the stock looks toppy on both an absolute price basis and relative to the S&P 500. Our December 4, 2025, Straight from the Chart post suggested that PLTR's weekly uptrend had bent but did not decisively break with support at rising weekly moving averages (WMA) intact. However, this changed last week. Yesterday's post suggested that Broadcom (AVGO)  and NVIDIA (NVDA) are at risk to become broken leadership stocks. PLT

We received a question on Permian Resources (PR) within the Energy sector. PR shows a bullish turn in trend above its rising 200-week moving average (WMA) near 12.51 on a shift to rising 13-, 26-, and 40-WMAs from late 2025 into early 2026. This preceded last week's breakout above 15.00, which confirms a an early 2025 into early 2026 ascending triangle bottom that favors upside back to and potentially beyond that early 2024 peak at 18.28 toward the pattern count at 20. The 20

The January Barometer is bullish for 2026, but the S&P 500 continues to churn near all-time highs rather than sustain a decisive upward breakout ( The Chart Check - January 30, 2026 ) and February tends to be a seasonality weaker month ( Straight from the Chart - February 3, 2026 ). That said, while the S&P 500 is churning, market breadth is firming with the S&P 500 advance-decline line and volume advance-decline line probing to new highs and the spread between 52-week highs

The technicals remain bullish on the iShares MSCI Hong Kong Index Fund ETF (EWH) . EWH confirmed a 2-year bottoming pattern on the rally above 20.35-20.00 that favors upside to 25, but holding last week's breakout above the 23.14-22.50 area puts in a potential 2022 into 2026 big base that suggests even further upside to early 2021 peaks at 27.90-28.17 and then to the pattern count at 30.00. Rising 13-, 26-, and 40-week moving averages from 22.33 down to 21.11 reinforce these

February has historically been a seasonal headwind for equities, ranking as the second-weakest month for the S&P 500 behind September. Since 1928, the index has risen only 52% of the time in February, posting an average return of -0.10% (with a median gain of 0.23%) over the past 98 years. Chart 1: S&P 500 average monthly returns and percentage of time up: 1928-present February tends to be no better during Presidential Cycle Year 2 (the mid-term year). Across the 24 mid-term

Broadcom (AVGO) and NVIDIA (NVDA) have deteriorated on both and absolute and relative price basis and are at risk of becoming broken leadership stocks. Broadcom (AVGO)  has topped out relative to the S&P 500 and is at risk to form a top on an absolute price basis. Losing the 324-308 range (pattern neckline, rising 40-week moving average (WMA), and 38.2% retracement of the April-December 2025 rally) would confirm this top and signal downside risk to 276 (50% retracement) and

*** 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

We got a question on GameStop (GME). The stock is tactically positive. GameStop (GME) is up sharply so far today and breaking higher from a double bottom off the November and December lows with bullish confirmation from a tactical leadership breakout vs. the S&P 500, positive daily MACD, and bullish leading/confirming upside breakouts for both on-balance-volume and the advance decline volume indicator. This tactically bullish breakout remains intact above 24 area, which is

We received an inquiry on Boston Scientific (BSX) . Our The Stock Pulse report on November 21, 2025, highlighted this stock as bearish. BSX stalled where it was supposed to, which was at the declining 13, 26, and 40-week moving averages at 100-102, in late November and early December and then dropped into the downside target zone for the April to September bearish (rising) wedge from 90.69 to 85.98 (October and April 2025 lows). Exhibit 1: Boston Scientific (BSX) from The St

This Straight from the Chart post highlighted stocks within industrials that we have previously flagged as bullish in our research notes and blog posts that have exceeded, achieved, or are approaching upside pattern targets—levels that warrant taking some profits and/or protecting positions through disciplined risk management. The stocks featured in this post are Cummins (CMI), FTAI Aviation (FTAI), Huntington Ingalls (HII), L3Harris (LHX), Northrop Grumman (NOC), Parker-Han

*** 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

This post highlights the Tactical  and longer-term 52-week Ranks  for the S&P 500 GICS Level 1 sector ETFs  as of the week ending 1/30/2026. Tactical Ranks The Top five Tactical Ranks are Energy, Materials, Industrials, Communication Services, and Staples Cyclicals - Energy, Materials, Industrials - remain in the top five and took the top three slots last week. Two of these sectors - Energy and Industrials - also rank in the top five in terms of the 52-week ranks. Growth -