Weekly S&P500 ChartStorm - 12 April 2026
This week: technical check, BMRs, semiconductors, tech stock ups and downs, profit margins, valuations, and unsafe investing...
Welcome to the latest Weekly S&P500 #ChartStorm!
Learnings and conclusions from this week’s charts:
The S&P500 has rebounded to a key overhead resistance zone.
Semiconductors meanwhile are already out to new all-time highs.
Tech stocks have seen a reset comparable to that of April 2025.
The tech sector is driving overall profit margins to record highs.
Tech stock valuations are still elevated (raising some questions).
Overall, it’s been a textbook rally from oversold conditions. The next steps will be key as overhead resistance looms (with risk shadows lingering in the background vs tech strength stirring).
1. Technical Check: bouncing from oversold conditions was the easy part, the next bit is to crack back above major overhead resistance initially at 6800 (and then 7000 to get back to new highs). This is the part where you usually have a bit of chop and consolidation, and at worst take another dip down…
Source: MarketCharts.com
2. BMR: on that note, the real worst case is that you get a nice trading rally, but then it rolls over to go onto new lows and into bear market.
(beware the bear market rally)
Source: @market_sleuth
3. Semi New Highs: but before we go jumping to conclusions and guessing next steps, it is important to observe what we can —and one thing we can observe is the main driver of the bull market (semis) just keeping calm and carrying on to new highs.
Source: @JC_ParetsX
4. Semiconductors Market Cap Weight: technical analysts might muse that the recent moves in semiconductors’ market cap weighting looks like a bull flag(!)
Definitely different this time, but will it rhyme?
Source: Topdown Charts Professional
5. Tech Insider Buyers: meanwhile tech sector insiders are buying up stocks like they’re running out of time. Is this a case of drinking too much of the Kool-Aid (and just buying at any and all times)? …or are they seeing things the rest of the market is not?
