20+ Charts I'm Watching

Yesterday I recorded my favorite show I do, All Gas No Brakes.

There are plenty of people sharing two or three charts and then pulling out a crystal ball to deliver “insights.”

That’s not me.

This is ALL GAS. NO BRAKES.

No pontificating. No predictions.

Just the market’s message through price, trend, and breadth.

Let’s get into it.

Chart 1

$EQWL ( ▲ 0.31% )  – Equal Weight S&P 100
The average mega-cap stock looks fine, despite early-week volatility noise. Price remains above support, giving defined risk and time to add exposure.

Chart 2

$RSP ( ▲ 0.36% )   – Equal Weight S&P 500
Primary trend remains higher with RSI holding above 50. This is index-level consolidation, not a breakdown.

Chart 3

$QQQ ( ▲ 1.3% )   – Nasdaq 100 Breadth (Bullish Percent Index)
Breadth failed to expand aggressively, but price remains above the 50-day with the 50 above the 200. This type of consolidation often resolves higher, not lower.

Chart 4

$MAGS ( ▲ 0.8% )   – Mega-Cap Tech (~33% of S&P 500)
Messy consolidation, but still above major support in a long-term uptrend. This is sideways digestion, not trend failure.

Chart 5

$AAPL ( ▲ 0.54% )  - Apple
Clean falling wedge breakout with upside resolution. Apple provides tech exposure with a more defensive, hardware-driven profile.

Chart 6

Tesla – $TSLA ( ▼ 0.45% )  (Weekly)
Large multi-year base attempting to break higher. This is a longer-term setup that may take time, but the structure is constructive.

Chart 7

NVIDIA – $NVDA ( ▲ 3.93% )  
Falling wedge holding long-term support. Tactical upside setups can emerge here even if price does not immediately make new highs.

Chart 8

$XLC ( ▲ 0.04% )   – Communication Services
Broke out of a down-channel and is consolidating sideways above a rising 200-day. These consolidations often resolve in the direction of the underlying trend.

Chart 9

$IBIT ( ▲ 4.07% )  – Bitcoin
Failed bounce with no clear reclaim of resistance. This is not a favorable risk-reward unless you are explicitly bottom-fishing with tight risk.

Chart 10

$IGV ( ▲ 1.49% )   – Software
Base failed, then re-based. A breakout above resistance would be meaningful given software’s weight in the broader market.

Chart 11

$SMH ( ▲ 2.59% )   – Semiconductors
Topping patterns look scary, but the underlying trend remains up. Similar setups earlier in the year resolved higher, not lower.

Chart 12

$XLF ( ▲ 0.55% )  – Financials
Breakouts are holding above support with higher lows underneath. This is accumulation behavior, not distribution.

Chart 13

American Express – $AXP ( ▲ 0.26% )  
Base-on-base breakout pulling back to support near 375. Risk is clearly defined, with upside resolution possible if support holds.

Chart 14

Bank of America – $BAC ( ▲ 1.86% )  
Uptrend intact with RSI above 50 and sideways digestion. Strong risk-reward setup within financials.

Chart 15

$XLI ( ▲ 0.86% )  – Industrials
Back inside the range, but RSI is holding above 50. A breakout attempt remains very much alive.

Chart 16

$ITA ( ▲ 2.72% )  – Aerospace & Defense
Clean base breakout with upside momentum. This group could lead if Industrials resolve higher.

Chart 17

$XLY ( ▼ 0.4% )  – Consumer Discretionary
Base-on-base breakout above 120. This could provide fresh legs to the market after a year of sideways action.

Chart 18

$XLV ( ▲ 0.67% )  – Health Care
Recent strength followed by digestion. Not the ideal entry now, but leadership remains intact under the surface.

Chart 19

$IBB ( ▲ 2.41% )  – Biotech
Down-channel threatening to resolve higher with RSI in a bullish regime. Leadership here would reinforce a broader risk-on tape.

Chart 20

$IHE ( ▲ 0.89% )  – Pharmaceuticals
Relative strength versus the average stock remains strong with RSI above 50. This group continues to lead within healthcare.

Chart 21

$ARKQ ( ▲ 3.65% )  – ARKQ (Autonomous & Robotics)
Risk-on behavior with RSI holding key levels. Strength here suggests broader market conditions are not deteriorating.

Chart 22

Lemonade – $LMND ( ▼ 0.25% )  
Textbook IPO VWAP breakout with former resistance now support. Trend remains strong with room to run.

Chart 23

Palantir – $PLTR ( ▲ 4.14% )  
Another IPO VWAP breakout example now consolidating near highs. This is trend maintenance, not exhaustion.

Chart 24

Robinhood – $HOOD ( ▲ 3.58% )  
IPO VWAP reclaim led to powerful upside continuation. Similar structure to LMND and PLTR, though outcomes will differ.

Plus a few more in the live show.

One of my goals this year was simple. Share more of what I genuinely love doing.

I didn’t know where it would go, but the response has been incredible.

The feedback on the YouTube videos, the conversations, the support, it’s meant more than you probably realize.

This whole thing has been a grind. And it doesn’t work without you.

Every view, every share, every message helps push this forward.

I truly couldn’t do this without the support.

2026 is going to be a BIG year.

But for now, I’m genuinely thankful for the support and love I’ve received in 2025.

If you’ve found value in the work, sharing it goes a long way in helping this dream keep growing.

Appreciate you all more than you know.

Anyway, that’s my two cents.

🎥 Thompson Two Cents Live

🚀 Throw it on 1.5x speed and let it rip.

👍 Give it a like! It’s the easiest way to show me some love.  

The Sunday Stalk List

If you want clean charts, clear setups, and tactical insights — this one’s for you.

It hits inboxes every Sunday so you know exactly what to keep an eye on for the week ahead.

Checkout last weeks post.

Cheers,

Larry Thompson, CMT CPA

Follow Me On Twitter (X)

Follow Me on StockTwits

Sign Up For Thompson’s Two Cents