CappNotes

The Cluster of Bad Breadth

Key Points The S&P 500 logged its second straight gain to kick off November but spent the final hours...

November 2025

SPX – Monthly Winning Streaks The S&P 500 finished October with its sixth straight monthly advance,...

The Six-Month Winning Streak & AMZN

Key Points The S&P 500 logged its second 1% decline of October yesterday, continuing the selloff...

New 52-Week Lows

Key Points The S&P 500 reacted as expected after yesterday’s FOMC decision on rates. Ironically,...

The Known Known

Key Points The S&P 500 logged its fourth straight advance yesterday — albeit a marginal one at +23...

October Has NOT Been Different Yet

October has NOT Been Different Yet   Key Points The S&P 500 gained 1.2% to start the week yesterday,...

Week of 10/27/25

Key Points The S&P 500 kicks off the final week of October — and the biggest earnings week of the...

Not Too Stretched According to this Indicator

Key Points The market’s pinball-like price action continued on Thursday, with the S&P following through...

The 50-DMA

Key Points The S&P 500 broke its modest three-day winning streak yesterday, but managed to rally...

A Little Less Shiny

Key Points With the S&P 500 finished unchanged yesterday, nothing changed technically for the index....

Bullish Patterns, Breadth & Momentum

Key Points For the second straight Monday, the S&P 500 logged a 1% gain to start the week. It also...

Week of 10/20/25

Key PointsThe S&P 500 bounced back last week, avoiding two straight weekly losses — something it...

Dissecting the Bearish Patterns

Key Points With the financials falling apart yesterday, the S&P 500 got hit hard intraday, pulling...

After the First Weekly Overbought Reading

Key Points Despite selling off from the open, the S&P 500 managed to log its second gain in the last...

Hanging Around

Key Points Other than the official 16-basis-point decline on Tuesday, the SPX had a constructive session...

Back-to-Back Big Moves

Key Points The S&P 500 snapped back yesterday, which was enough to stop the bleeding from Friday...

Week of 10/13/2025

Key Points With the S&P 500 emphatically breaking its 48-day streak of no 1% declines with Friday’s...

No 1% Moves, the VIX & Biotech

Key Points The S&P 500 logged its second loss in the last three days on Thursday, finishing slightly...

Extended vs. Depressed

Key Points The S&P 500 bounced back on Wednesday to log a fresh new all-time closing high and is...

Bases, Breakouts & Parabolic Moves

Key Points The S&P 500’s seven-day winning streak was snapped yesterday with another—ultimately innocuous—38-bps...

Short vs. Long-Term Trends

Key Points The S&P 500 has now logged seven straight daily gains after yesterday’s modest advance....

Week of 10/6/25

Key Points The S&P 500 closed last week with a tiny 1 bp gain, but it was enough to mark the index’s...

How and why a Q4 Chase can Happen

Key Points The S&P 500 just barely notched its fifth consecutive gain on Thursday, advancing a meager...

10/2/25

Bullish Patterns, Healthcare & Chart Trades

Key Points The S&P 500 started October much like it ended September—with a marginal gain. This was...

October and Q4 2025

SPX – Monthly Winning Streaks The S&P 500 finished September with its fifth straight monthly advance,...

Surprise... September was ALSO Boring

Key Points The S&P 500 gained 26 basis points in the second-to-last trading day of September and...

CappThesis Turns Three

Key Points The S&P 500 bounced back from an early decline on Friday to finish near the midpoint of...

9/26/25

A lot of Dips

Opening Look – A lot of Dips Key Points The S&P 500 lost ground for the third straight day on Thursday,...

After Overbought

Key Points The S&P 500 lost ground for the second straight day, finishing near its lows. It’s now...

 A Key Lagging Indicator

Key Points The S&P 500 just barely missed hitting 6700 for the first time yesterday, eventually pulling...

Hovering

Key Points The S&P 500 logged its third straight gain to start the week, notched another all-time...

Week of 9/22/25

Key Points The S&P 500 finished strongly on Friday, hitting another new all-time high. This marked...

The IWM R2k Breakout

Key Points The S&P 500 followed the FOMC volatility with a respectable +0.48% gain on Thursday. While...

Reaction > News

Key Points The S&P 500 slipped 13 basis points on Tuesday, selling off after hitting a fresh intraday...