Failed Bearish Patterns Are Bullish for S&P 500!

05.29.24: Final Bar host David Keller, CMT welcomes Frank Cappelleri, CMT CFA of CappThesis. Frank shares how the bull market phase has been marked by confirmed and completed bullish patterns and failed breakdowns after bearish patterns. David discusses the rising interest rate environment, what it means for the equal-weighted S&P to under-perform the regular cap-weighted SPX, and how charts like LUV remain firmly in a bearish trend.
Dave's chart showing equal-weighted vs. cap-weighted $SPX: schrts.co/xmJWHbxb
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00:00 - Welcome to the Show!
01:08 - Market Recap
06:48 - S&P 500 Index ($SPX), S&P 500 Bullish Percent Index ($BPSPX)
10:15 - S&P 500 Equal Weight ETF/SPDR S&P 500 ETF (RSP:SPY)
12:08 - US Dollar (USD), 10-Year Treasury Yield ($TNX), Take-Two Interactive Software (TTWO)
16:20 - Marathon Oil (MRO), Southwest Airlines (LUV)
21:30 - Interview with Frank Cappelleri, CMT CFA of CappThesis
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[@StockChartsTV]

Dave's chart showing equal-weighted vs. cap-weighted $SPX: schrts.co/xmJWHbxb 👀 See what better financial charting can do for you! Start your FREE 1-month trial today at stockcharts.com 👍🏻 If you enjoyed this video be sure to hit the THUMBS UP ✅ If you found value, consider SUBSCRIBING to our channel and ring the bell so you never miss a new video! Subscribe Here: tinyurl.com/wvet7qj

[@ahmedahmm7545]

I think VGT is too concentrated into three stocks, Apple, Microsoft and Nvidia. Over 40%. I get a lot of those three in my S&P 500 largest holding.

[@daloriscutone6380]

Yeah kinda seems like a high risk to reward ETF imo. I have other growth funds that are way more balanced out that still have crazy growth. My portfolio is breaking $60 million this week, grew it from $1 million, real estate is next.

[@ahmedahmm7545]

Sounds great, are you an expert?

[@daloriscutone6380]

No I'm not, Hannah Susan Jennings is behind my growth, look her up or make proper research for one who is suitable with your goals.

[@harlibassham8187]

Hannah is a wonderful trader, Im happy seeing this recommendation, she looked more beautiful in person when I saw her in New York.

[@harlibassham8187]

Would you consider a core S&P 500 etf portfolio & the 4% rule as an alternative to dividend investing?

[@mikem2492]

Thank You

[@Chocolate_Croissant]

Where is it a failed bearish

[@DKellerCMT]

Check out Frank's second chart, showing potential head & shoulders tops that never followed through! D

[@gigrockband]

Thx 🎉

[@jacqdanieles]

MRO gapped up on the Conoco acquisition announcement

[@DKellerCMT]

Gap higher but no follow through yet! D

[@gigrockband]

How do you build the RSP:SPY relative strength chart in your video, please? I’m a Stockcharts member. Thx.

[@StockChartsTV]

Hi @gigrockband - Here's a link to Dave's RSP:SPY chart, you can see all the settings in it: schrts.co/XXfcQAna Dave keeps this chart (among many others) in his "Mindful Investor" ChartList here: schrts.co/TTCbWDpE

[@1309gsk]

gt video Dave. you have all the reasons t say yiur kistners i told u so. altough spx and qqq ae going down, some stocks are doing fantastik...........stay safe

[@savalaimanohar2353]

Thanks Dave. Good measured discussion with Frank. Even though failed Head and Shoulders pattern means Bullish market, it seems from your presentation, there is going to be a definite pull back waiting to happen. It MAY resume upward trajectory later but immediate correction seems to be on the cards? About min 21.35 September 2023.

[@DKellerCMT]

I am very much in the "imminent pullback" camp based on deteriorating breadth and lack of upside follow through D

[@aliasoma]

Dave, do you ever use dark pool trade data as a factor in your analysis?

[@DKellerCMT]

Honestly, I do not! D

[@HPhenomenal]

stay in cash

[@DKellerCMT]

Cash yielding 5% in a savings account = not a bad return! D

[@HPhenomenal]

@@DKellerCMT agreed! i don't trust this market right now. love your videos btw!

[@HouseofTheRisingFunk]

BAGS

[@DKellerCMT]

Not sure if this is slang for something? D

[@abhatia1111]

Thirty minutes and not even 1stock recommendation. Waste of time

[@harmankang6119]

We watching the same video? Dummy..

[@sebfox2194]

😂

[@mlangbert]

Cappelleri recommends industrials (e.g., VIS) at 26 and then energy. Do you feel that all points in time are good times to buy?

[@Foma_Stuppa]

Sometimes the best recommendation is watch and wait

[@DKellerCMT]

We're not in the stock recommendation business, but the "perspective and analysis" business! D

[@bdek68]

Honestly this is terrible. Sorry