CHART THIS with Dave Keller | Jan 7, 2026: S&P Afternoon Fade as Apple Breakdown Confirmed

Greetings from sunny Tampa! Dave Keller is checking in from the CMT Association Midwinter Retreat to break down a pivotal Wednesday session. While the S&P 500 showed early strength, hitting a midday high near 6965, a sharp afternoon fade saw the index finish in the red, ending the day just above 6920.

In today's episode, Dave focuses on a critical "downside validation" for Apple. Following yesterday's breach of the 265 support level, Apple’s continued deterioration today confirms that this wasn't just a one-day fluke. Dave explains why he now views the primary trend in Apple as "guilty until proven innocent." Conversely, he highlights the resilience of Microsoft, which managed to hold steady at its 200-day moving average, and the standout performance of Alphabet, which emerged as the clear leader among the Magnificent Seven.

Dave also revisits the "Tornado Siren" analogy for market divergences. By examining the weekly S&P 500 chart, he reveals how bearish momentum divergences serve as early warning systems—stressing that while these signals don't necessarily pinpoint the exact top, they demand a readiness to "head to the basement" once price trendlines finally break.

Topics Covered
Live from Tampa: Enjoying the Sunshine & CMT Midwinter Retreat
Market Recap: Early Gains vs. Afternoon Sell-off
Volatility Watch: What a 15 VIX Tells Us About Market Pricing
Asset Class Check: Bonds Up, Stocks Down
Precious Metals Volatility: Silver and Gold Pullback
Bitcoin as a Leading Indicator: The Risk-Off Shift
Sector Performance: Healthcare Leads While Utilities Break Down
The "Mean Reversion" Trade: Growth Bounces as Value Stalls
Magnificent Seven Analysis: Alphabet’s Strength vs. Meta’s Struggles
Apple Breakdown Confirmed: Seeking Downside Validation
Starbucks and the "Failed Breakout" Warning
The Traffic Light Technique: S&P 500 Key Levels
Divergence vs. Breakdown: The Weekly S&P 500 Perspective
The "Tornado Siren" Analogy for Technical Indicators
Relative Strength Trends: Defensive Sectors Underperforming
Individual Stock Spotlights: Intel, Vertex, and Caterpillar
Looking Ahead: Market Misbehavior 2026 Outlook Announcement

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