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Articles by Frank Cappelleri
Is a bottom in for the Nasdaq-100? Charts to watch Original
(See the video above for Frank's complete chart breakdown.) Is the Nasdaq-100's recent bounce a sign that the bottom is in? We're going to look at several charts to help answer that question. First, let's remember how we got here. In September, the NDX broke out from a bullish cup-and-handle pattern, producing a 33,200-upside target. That breakout quickly failed, however, and gave way to a bearish pattern that broke down aggressively two weeks ago.
Could the Nasdaq 100 slide further? Frank Cappelleri looks at the charts
Could the Nasdaq 100 slide further? Frank Cappelleri looks at the charts Frank Cappelleri of CappThesis examines the performance of the Nasdaq 100 index and whether it could push lower.
Frank Cappelleri is watching pharmaceutical stocks. Here's what the charts say
Frank Cappelleri is watching pharmaceutical stocks. Here's what the charts say Frank Cappelleri of CappThesis breaks down the moves in the Invesco Pharmaceuticals ETF.
This pharmaceutical ETF is outperforming. Why it could keep climbing
(See the video above for Frank's complete chart breakdown.) Today, we're looking at the Invesco Pharmaceuticals ETF for two reasons: its continued outperformance and how its technical structure provides a useful example of identifying relative strength when scanning for potential trades. The first daily chart, going back to July, shows PJP rallying through the summer, topping in late August, and pulling back into October before advancing again. But zooming out tells a more complete story.
Tech Is Breaking Down. So What’s Keeping the S&P 500 Afloat?
Tech is breaking down while the S&P 500 refuses to follow. Bullish and bearish patterns are now competing for control. Frank compares the S&P 500’s current setup with earlier failed breakouts, then follows the weakness through semiconductors and other growth areas to see whether this divergence is getting closer to a resolution. The video was originally published on November 4, 2026. You can view previously recorded videos from Frank and other industry experts at this link.
Is it finally time to buy Lululemon? Here's what the charts tell me
(See the video above for Frank's complete chart breakdown.) From its 2017 low to its 2023 high, Lululemon (LULU) surged nearly 1,000% before turning on a dime. As of its October low earlier this month, the stock had fallen 82% from its peak. Along the way, investors had plenty of chances to buy the dip, only to see the stock fall further. Even when LULU entered bear market territory or became oversold, the selling continued.
Why Frank Cappelleri says it might be time to buy Lululemon
Why Frank Cappelleri says it might be time to buy Lululemon Frank Cappelleri of CappThesis explains what the charts say about Lululemon after the stock has fallen 47% year to date.
The S&P 500 is forming a bearish chart pattern. Can it snap out of it?
(See the video above for Frank's complete chart breakdown.) The S & P 500 has struggled to break decisively above 7,800 since first reaching that area in late July. Along the way, it has repeatedly tested its rising 50-day moving average while developing a negative momentum divergence, with the 14-day RSI making lower highs since peaking in May. Negative divergences alone don't necessarily lead to immediate declines.
Why Frank Cappelleri says this is the most important S&P 500 chart to watch
Why Frank Cappelleri says this is the most important S&P 500 chart to watch Frank Cappelleri of CappThesis explains what the charts are saying about the stocks that make up the S&P 500.
JPMorgan is falling into earnings next week. It's paid off to buy the dip
(See the video above for Frank's complete chart breakdown.) JPMorgan Chase (JPM) is among the major financial stocks kicking off earnings season next week, and its technical set-up deserves attention following several weeks of underperformance across the sector. On the weekly chart, JPM is testing a critical uptrend line that also represents the lower boundary of an upward-sloping channel dating back to its 2022 low.
Three reasons why bitcoin's recent bounce could be the start of a bigger bullish move
(See the video above for Frank's complete chart breakdown.) Bitcoin's recent bounce could be the start of a much bigger move. Here are three reasons why: 1. Bullish patterns are working again. Bitcoin finally took advantage of a bullish formation this summer, leading to the large move in August. This is important because, from late 2025 into early 2026, three other bullish formations failed to produce any meaningful upside follow-through.
Why bitcoin could be in the early stages of a major comeback
Why bitcoin could be in the early stages of a major comeback Frank Cappelleri, founder and president of CappThesis, explains why bitcoin could be poised for a breakout.
This key part of the stock market could be headed for a meaningful breakout
(See the video above for Frank's complete chart breakdown.) Large Cap Technology's recent comeback has been important for the broader market, and the Technology Select SPDR (XLK) now has an opportunity to turn that bounce into a more meaningful breakout, which could have a big influence on the overall market. Recently, we identified a developing inverse head-and-shoulders pattern in XLK, along with a smaller bullish handle formation.
Here's what Frank Cappelleri is watching from the XLK technology ETF
Here's what Frank Cappelleri is watching from the XLK technology ETF Frank Cappelleri, founder and president of CappThesis, breaks down the moves in the State Street Technology Select Sector SPDR ETF.
The S&P 500's Bearish Setup Just Failed. Now What?
The S&P 500’s bearish setup failed after the Fed, and a new bullish pattern is forming near the highs. The rebound has already changed the pattern picture. XLK has broken out of a smaller bullish formation, while XLC and XLY are still working to turn recent strength into sustained follow-through. Bitcoin adds another piece to that shift, with resistance levels that repeatedly stopped rallies earlier in 2026 now being cleared.
A healthcare provider is set up for a big move higher, according to the charts
Daily chart bullish breakout A key component of the healthcare comeback over the last several months has been healthcare providers. The IHF ETF rallied 42% from its March low to its early July high before consolidating over the last few months. Thus, it's not surprising that some healthcare provider stocks have been performing well, too. HCA , which is a holding within IHF, still is trying to capitalize on a bullish pattern that has formed over the last several months.
A bullish pattern is emerging in SpaceX shares, says Frank Cappelleri
With so many high-profile IPOs happening in 2026, I've often been asked how to properly trade these stocks during their initial stages as public companies. My answer has been the same regardless of the company: technical analysis can be especially helpful after a stock goes public because, for the first time, we can actually see supply and demand illustrated on a chart.
Charts show Spotify shares could soon break out, Frank Cappelleri says
In monitoring potential large basing patterns over the last few weeks, Spotify has continued to pop up on our radar screens. Finally, after several weeks of percolating near the 540 area, it is trying to break out. Just this morning, SPOT reached its highest level since March 2026. As is clear, SPOT is now pushing through a large, multi-month cup-and-handle pattern. If we continue to see follow-through from the current area, the 651-upside target will remain in play.
An auto parts stock bottomed in May and is set to keep rallying, according to the charts
Genuine Parts , an auto parts stock, has been fighting back after a rough start to the year, and it may just be getting started. Here's why. GPC bottomed in May and has been rallying since that point, recently forming a very clear potential bullish cup-and-handle pattern. From a trading perspective, a breakout from this formation targets the 163-zone, which would bring GPC noticeably above its highest level from earlier this year.
Bullish chart patterns are emerging for Range Resources, Frank Cappelleri says
With the energy complex having bounced back meaningfully over the last few weeks, a number of individual stocks have done the same. One we've been tracking is Range Resources (RRC). After reversing higher following a multi-month downturn, RRC has now formed a potentially bullish inverse head-and-shoulders pattern on its daily chart. From a trading perspective, the pattern has a measured move up to the $46 level. As always, managing risk is important.
Starbucks is close to the top of its multiyear range. The charts show it could break out higher
Starbucks has been consistently rallying since the end of 2025, but it has been a jagged advance much of the way. Thus even though we can see distinct higher highs and higher lows, some of those pullbacks certainly have given would-be buyers pause along the way. More recently, SBUX reported earnings two weeks ago and has essentially been treading water ever since, remaining relatively close to its most recent highs.
The S&P 500 Just Hit Its Target. What Happens Next?
The S&P 500 has reached its first bullish price target, but the story isn’t over. Frank explains why the latest breakout could have room to continue as fresh bullish patterns begin to develop across the S&P 500. He also examines whether semiconductors can regain leadership, how the Dow’s relative strength is changing, and why gold and silver are starting to show meaningful technical improvement. The video was originally published on August 6, 2026.
The worst may be over for beaten-down Adobe shares. These charts show why
Adobe has had a rough few years. From its February 2024 high to its June 2026 low, the stock fell more than 70%. Year to date, ADBE is down 26%, making it the 30th worst-performing member of the S & P 500. In other words, more than 470 stocks in the index have outperformed ADBE this year. As a software stock, ADBE has also been caught in the recent weakness across the group.
Novartis chart may soon 'complete a well-defined bullish reversal,' Cappelleri says
Novartis reported earnings a few days ago and, so far, has done a good job holding near its recent highs. As a result, the stock continues to press against the neckline of a large potential inverse head-and-shoulders pattern, shown below. If NVS can continue consolidating near current levels and then break decisively above resistance, the pattern would trigger an upside target near $176.
Alphabet will post earnings after the bell. What the charts show ahead of the report
As a rule, I don't recommend new chart-based trades when a company is within two weeks of reporting earnings. However, it's still important to understand where the charts of the market's biggest stocks stand heading into their reports — especially with two "Magnificent Seven" components set to release results this evening. With that in mind, today we're taking a technical look at Alphabet (GOOGL) and the key price levels and patterns that could shape its next move.
The Bullish Setup Hasn't Broken... Yet
The S&P 500's bullish setup is still holding, but several key tests remain ahead. Frank Cappelleri examines the index’s bullish patterns, along with the bearish scenarios that could still develop if key support levels fail. He also analyzes semiconductor signals that could shape the market’s next move. Whether the market breaks higher or continues to consolidate, these are the levels and chart patterns Frank is watching most closely. The video was originally published on July 21, 2026.
Bullish charts and fundamentals are lining up for JPMorgan Chase, says Frank Cappelleri
As a technician and CMT charter holder, I focus on price action first. But when the fundamentals reinforce the technicals, they always gets my attention. (After all, I also persevered through the CFA process many years ago.) JPM appears to have both working in its favor right now, something that became even clearer following yesterday's strong earnings report. Let's start with the daily chart: JPM had a wild session Tuesday following the release of its latest quarterly numbers.
A turnaround is unfolding for this beat-up shipping stock, charts show
UPS has had a volatile ride in 2026, and its underperformance over the last few years has been evident. This has been especially glaring considering the strong advances seen in the S & P 500 and many other indexes since the 2023 lows. The reason we're profiling it now is that the chart is beginning to show encouraging signs of a turnaround across multiple time frames.
Here's Why the S&P 500 May Finally Break Out
The S&P 500 is back near its highs, but this breakout attempt may have a stronger foundation than the last, which starts with a larger bullish cup-and-handle pattern that has continued to develop while multiple bearish formations have failed.
There are two competing chart patterns in the S&P 500 right now. One's bullish, the other is bearish
June has been a roller coaster for both market bulls and bears. This stat tells us all we need to know: The SPX has now logged seven absolute 1% moves for the month, with five trading days still remaining in the month. That may not sound like a lot, but it represents roughly one-quarter of the month still to go, and given the market's recent behavior, it wouldn't be surprising to see several more outsized moves before month-end. The current total of seven is already the most since March (nine).
The Bears Had Their Chance. Now What?
After the market's first 5% pullback since March, several bearish patterns appeared to be taking shape and volatility spiked sharply. Frank reviews why those downside setups failed, how momentum and breadth responded during the decline, and what buyers need to do from here in order to keep the current bullish structure intact as the S&P 500 approaches its highs once again. The video was originally published on June 17, 2026.
This medical diagnostics stock is ready for a big move higher, charts show
NTRA is a medical diagnostics company that makes DNA blood tests to help doctors detect health problems early. This includes cancer, pregnancy complications, and organ transplant issues, often before symptoms appear. Chart-wise, the stock is attempting to leverage a long trading range — a similar scenario to IHI discussed last week — though the pattern here is noticeably larger. Indeed, there have been plenty of whipsaws since its strong uptrend ended at the start of the year.
A rebound with staying power may be in the cards for this beat-up medical devices ETF
The iShares U.S. Medical Devices ETF (IHI) could be setting up for a turnaround — and a few stock charts detailed here will show why. First, the bad news: IHI has been in a downtrend since the very start of 2026, visibly underperforming the major indices by a wide margin. Along the way, we've seen several rally attempts strong enough to generate moving average convergence/divergence, or MACD, buy signals three separate times since the middle of February.
This lagging payroll stock is in comeback mode as it completes bottoming process
ADP is one of the world's largest payroll companies. If a business needs to pay employees, manage benefits, etc., there's a good chance ADP is involved behind the scenes. Interestingly, depending on the data provider, the stock is often classified as either an industrial or a technology/software company. That's understandable, given that its business touches both operational infrastructure and enterprise software.
Here's Why Market Rotation Matters More Than Ever
The S&P 500 continues to push toward bullish pattern targets, but the rally is becoming increasingly dependent on a shrinking group of leaders. Frank Cappelleri examines the market’s eight-day winning streak, the continued success of bullish continuation patterns, and the growing gap between large-cap tech and the broader market.
How a Strong Uptrend is REALLY Formed
The S&P 500’s 17% gain in eight weeks ranks among the best eight-week advances in stock market history. Recently, we referenced that a few of the pauses along the way can be classified as mini trading boxes. Yet, at first glance, the SPX’s strong rebound from the March lows still looks like one continuous, unabated advance. Zooming in to the 2-hour time frame provides some helpful and necessary context.
This under-the-radar entertainment stock is trying to break to new highs, charts say
Live Nation Entertainment has been under the radar recently, and it's easy to understand why. With so many other stocks pushing to new all-time highs, LYV is still trying to get back above its highs from earlier this year. So, even though attention has been elsewhere, we're discussing it today because LYV is the fifth-largest holding in the State Street Communication Services ETF (XLC) .
This real estate stock is setting up for a move higher despite the rise in interest rates, charts show
Every day, I go through hundreds of stocks to uncover trading and investing ideas for our clients. Some of that process comes through preset technical screens, while some of it is simply manually paging through charts one by one At times, this can be even more telling than having a program spit out names based solely on criteria. In many ways, using both approaches together is the most valuable process. The biggest confirmation comes when the same names surface through both methods.
Tech is completely dominating the market. But these sectors could be poised to catch up
A quick glimpse at the sector ETFs since the March 30 low tells us what we already know. There's outperformance, and then there's what Technology has done versus the rest of the market over the last six weeks — complete domination. But we know one thing: it can't last forever. What we don't know is when the group finally sees some profit taking and how the rest of the market will respond when that happens.
Market Rotation: Where’s the Money Moving Now?
Frank analyzes the market’s next phase as leadership narrows and rotation quietly becomes the focus. He explains how large-cap tech—especially semiconductors—has driven the S&P 500 higher even as breadth has weakened. Frank highlights emerging setups in energy, financials, and pharmaceuticals, along with bullish patterns that signal where capital may shift next.
This banking giant is setting up for a breakout. What levels to watch
While many more companies report earnings over the next two weeks, a large portion of the financial sector has already released results. That helps reduce some of the company-specific risk within the group and could potentially lead to less volatility among XLF components in aggregate. The XLF Financials ETF itself has spent the last several weeks consolidating after its sharp rebound from the late-March low.
Five 'Magnificent Seven' names will post earnings before the week ends. Levels to watch
All eyes are on the megacap growth earnings tonight and tomorrow, including five of the MAG 7 stocks. Here's what you need to know from a chart point of view. A familiar bullish chart formation First, let's take a close look at the MAGS ETF , itself. Similar to the SPX , NDX , and XLK , the ETF has rebounded sharply from the March lows — but MAGS has yet to break out to new highs.
This derivative stock play on SpaceX could be setting up for another breakout, charts show
EchoStar (SATS) is a telecom holding company that operates Dish TV, Sling TV and Boost Mobile and recently sold wireless spectrum assets to AT & T and SpaceX. The company now reportedly holds roughly $11 billion worth of SpaceX stock, making SATS, in some ways, a leveraged way to gain exposure to the potential SpaceX IPO. SATS was just added to the S & P 500 in March, as well, so the stock could be getting a lot more attention soon.
S&P 500 Just Hit Its First Bullish Target! What Comes Next?
Frank analyzes a key shift in the S&P 500 as the index reaches its first bullish pattern target of 2026, following a sharp reversal and sustained upside follow-through. He explains how this move differs from prior failed rallies, highlighting improving momentum, stronger breadth, and a return to positive closes after weeks of weakness.
Merck shares are forming a bullish chart pattern, and a breakout could be on the horizon
While the health-care sector broadly continues to search for direction, drug stocks have been the clear leaders — and Merck stands out as one of the strongest performers in the group. Over the past few months, the stock has demonstrated a notable ability to leverage multi-week consolidation phases into clean breakouts and sustained advances. Since February, Merck has been quietly digesting its latest move, and it's worth paying close attention to the structure taking shape.
These charts offer hints on what’s next for market volatility after a stormy March
Seasoned investors know that when the S & P 500 (SPX) experiences big declines, it coincides with spikes in the Cboe Volatility Index (VIX) . Over the long term, neither consistently leads the other — that relationship is well understood. What's far less clear is how much the VIX actually needs to rise before volatility begins to peter out. More importantly, how do we really know that the market's character has flipped back to positive from a decidedly negative and bearish trading environment?
S&P 500 Pullbacks Are Changing. What’s Different Now?
Frank analyzes the S&P 500 after a key shift in market behavior, with recent pullbacks beginning to act differently than earlier in the year. He reviews the first successful bearish pattern in months, the breakdown from a multi-month trading range, and the importance of hitting downside targets. Frank also examines weakening dip-buying behavior, the rise in volatility with frequent 1% moves, and the continued series of lower highs.
Cisco may finally extend meaningfully beyond prior highs, based on latest chart action
Cisco (CSCO) has been around for a while, going public back in 1990. Its popularity soared during the dot-com bubble, and it became infamous for the complete and utter crash that followed. Hundreds of the tech leaders from a quarter century ago are no longer around today. Others have stood the test of time, such as Apple (AAPL) , Amazon (AMZN) , and IBM . CSCO is still here too, but its name doesn't exactly resonate alongside the Nvidias of the world now. Why?
Bitcoin needs to reclaim $75,000 to herald a risk-on recovery, charts show
Bitcoin has been among the leaders over the last few weeks, logging a key low in early February near $60,000 and testing the $75,000 zone this week. From a chart perspective, this has taken the shape of a potential cup-and-handle pattern. This setup looks very similar to the prior cup-and-handle that formed from Nov. 2025 through mid-January 2026. In fact, that last one arguably looked even more attractive than the current version.
A tech patent licensor could be setting up to make another push higher, charts show
InterDigital is an interesting company. It's a member of the IGV Software ETF , but StockCharts classifies it as a Semiconductor company. Upon further digging, though, it's neither: InterDigital actually is a patent licensing company that invents wireless and video technologies like 5G and Wi-Fi and collects royalties from device makers without making any physical products. It just gets classified into software since it doesn't make hardware.
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