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The S&P 500 (SPX) has turned sloppy entering 2026. Despite starting the year with solid breadth, the index failed to sustain a breakout from a late October through late December / early January bullish consolidation pattern. “To tariff, or not to tariff, that is the question.” Volatility tied to President Trump’s rhetoric around tariffs and a potential deal involving Greenland dominated the past two sessions. Tuesday’s (1/20) sharp selloff and Wednesday’s (1/21) equally shar

Question: Thoughts on TDY here post earnings? Could we be working on another breakout? Thanks Yes, Teledyne Technologies (TDY)  has broken out following today’s post-earnings upside gap. The gap higher completes an early-October to late-January base, and the move is constructive from both a price and volume perspective. Holding above the prior early-October high near 596, and more importantly above the high-volume upside gap zone from 592 down to 580, would keep this bullish

Question: Steve, any thoughts on BKR are most welcome. Thanks, as always. Baker Hughes (BKR) remains bullish with a breakout and deep retest pattern from a big base that formed between mid 2017 and late 2024. This big base pattern projects further upside to 55 and 66 (November 14, 2025, The Stock Pulse ). BKR also has a breakout and retest from a February-September bullish consolidation that projects to 59. Holding the 46.70 to 43.90 range keeps the immediate pattern bullish

We have some interest in International Business Machines (IBM) . We continue to monitor IBM , which is at an important technical juncture after testing and stalling near a long-term upside objective in the 310–325 range. This target was derived from the 2012–2024 base breakout, and the lack of sustained follow-through at this level raises the need for a clearer directional signal. This test of long-term resistance has coincided with a mid-to-late 2025 bearish divergence in IB

*** 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

Another round of tariff rhetoric from President Trump pressured U.S. equities, pushing the S&P 500 (SPX) sharply lower. The SPX gapped down 2.1% on Tuesday, January 20 following a tariff threat aimed at eight European nations tied to a Greenland-related deal. The selloff drove the index decisively below its 13-, 26-, and 40-day moving averages (DMAs) at 6916–6852, leaving behind a large downside gap. This gap, spanning roughly 6871 to 6925, is likely to act as near-term over

The iShares MSCI Chile Index Fund ETF (ECH)  broke out from a 6-year basing pattern on the late 2025 rally above 35.92. ECH quickly rallied to test and trade beyond the 38.2% retracement of the 2010-2020 decline at 41.55, with additional upside potential to 48.96 (50% retracement), and then into the 54.00-56.38 area (late 2019-late 2025 bottoming pattern target and 61.8% retracement). Rising 13-, 26-, and 40-week moving averages from 39.26 down to 35.97-34.38 reinforce this b

We received a request for Novo Nordisk A/S (NVO) . NVO may be forming a tactical double bottom from its August and November 2025 lows near 45-43. Higher lows throughout 2025 on intermediate-term price momentum as measured by the 14-week RSI set up a positive divergence against the lower lows on the stock, supporting the case this potential double bottom. The early 2026 breakout above bear market resistance just below 50 on the RSI provides a potential bullish leading indicat

Question: ARKG is improving, is it ready to breakout? Thank you. Yes, the ARK Genomic Revolution ETF (ARKG) is improving and position for a future breakout from a basing/bottoming pattern dating back to late 2023. In addition, ARKG shows bottoming signs relative to the S&P 500 from late 2024 into early 2026. Breaking out from this pattern would continue ARKG's leadership trend from May 2025. Holding above or within the zone of improving weekly moving averages from 29.98-28.4

*** 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

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 1/16/2026. The Top five Tactical Ranks are Industrials, Materials, Energy, Healthcare, and Technology. Discretionary dropped out of the top five, replaced by Energy. The top three sectors - Industrials, Materials, Energy - suggest a rotation to tactical leadership from cyclicals. Two of these sectors - Industrials and Materials - also rank in the

The Global X MSCI Columbia ETF (COLO) has achieved a bullish breakout and retest from double bottom of its 2020 and 2023 lows. While there is tactical support at 38.20, this positive setup remains in place above 35.40 with upside potential to 46-46.60 (2018 peak and the 38.2% retracement of the 2010 to 2020 decline) and then higher to 53-56 (double bottom pattern count and 50% retracement). Rising 13-, 26-, and 40-week moving averages from 36.89 down to 32.45 reinforce this

Meta Platforms (META) remains vulnerable on both an absolute price basis and relative to the S&P 500. While below 691 to 711, the bearish breakdown from a July into August head and shoulders top remains intact with risk back to the late November low at 581.25 and potentially lower toward the 496 (100% extension of the August-November decline projected from the December peak) and 479.80 (April 2025 low). Deteriorating 13-, 26-, and 40-week moving averages from 648 up to 696 r

*** 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

There is interest in the chart for Target (TGT) , which is a name we have been watching for bottoming signs. TGT could achieve a breakout from an April 2025 into January 2026 tactical bottom on a close above 108.90 this week. If this happens, the stock could see a stronger rally to the key retracement levels for the April 2024 into November 2025 decline at 121.03 (38.2%), 132.65 (50%), and 144.26 (61.8%), with a test of the declining 200-week moving average at 139 not ruled

We received a request to review ServiceNow (NOW) , which we highlighted as a bearish chart setup in The Stock Pulse report on November 7, 2025. NOW has achieved and exceeded downside projections at the rising 200-week moving average (WMA) and April 2025 low at 139.64-135.72 but remains bearish until proven otherwise. Where's support? There is some support at the May 2024 low at 127.60 but sustaining this week's move below the 200-WMA, April 2025 low, and 61.8% retracement o

Question: Steve- can you take a look at the charts of CCJ and URA? Thanks The Global X Uranium ETF (URA)  completed a large base spanning from 2014 through 2025, which initially favored further strength toward 55–56, aligning with the 38.2% retracement of the 2011–2020 decline and the base pattern count. Importantly, URA successfully defended its rising 26- and 40-week moving averages on the late-2025 pullback to 39.95, reinforcing the bullish intermediate-term structure. Wit

Question: Can you look at CRWV again? I'm wondering if you think it could be forming a head and shoulders bottom. CoreWeave (CRWV) has gapped higher today with the potential to break out from a November into January bottoming pattern. Holding the gap at 94.25-93.18 would keep the immediate pattern bullish with upside potential to the pattern count at 118 and potentially beyond to the August and October 2025 peaks in the low 140s to upper 140s/low 150s. Big upside volume days

We got a question on the chart for Astera Labs (ALAB). ALAB is building a November 2025 into January 2026 ascending triangle bottoming pattern within the stock's longer-term uptrend as defined by its rising 200-day moving day moving average at 138.54. Defending the zone of rising 13-, 26-, and 40-day moving averages from 168.66 down to 158.91 would keep the immediate pattern constructive within this developing bullish triangle with the potential for a breakout above the patt

We received a request to revisit Compania de Minas Buenaventura S.A.A. (BVN) and Sociedad Quimica y Minera de Chile SA (SQM) . We flagged a big base breakout for BVN on the move above 18.84.17.90 with upside potential to pattern counts and retracement levels near 24 and 30 in Straight from the Chart on September 11, 2025. BVN has since exceeded these targets with the 61.8% retracement of the 2010-2016 decline the next target at 36.61. Above this level, BVN does not have mu