We’re not even close to silly yet. Get comfortable.

Two things about IPOs: 1/ There's usually a rally on the first day. This is known as the "first day pop" effect and it's largely caused by IPO mispricing and investor hype. Barron's noted that the average 1D gain for IPOs this year was something like 15%. 2/ IPOs typically underperform in their first 1-3 years. Ritter (1991), "The Long-Run Performance of Initial Public Offerings." So very often you'll see a nice pop then some prolonged consolidation. They don't have to last 3 yrs especially in a hot market. This creates a nice "base breakout" setup for IPOs, and I've personally found that to be the best way to trade them.

Not a recommendation $AMAT $SNDK $VELO

$QCOM not a recommendation

$STX not a recommendation

In studio in Chicago this week! (Can barely reach the board) $VLO $MU $BRUN *Not a recommendation

Patterns and possible formations: $HCA - double bottom with a triangle under support $SLB - triangle $HOOD - ascending triangle $NOC - rising wedge *Not a recommendation @SchwabNetwork @SchwabTrading

More possible & completed patterns: $AMT - larger double bottom with a smaller bull flag beneath support $GD - triangle breakout $USB - ascending triangle $ELV - long-term double bottom *Not a recommendation @SchwabNetwork @SchwabTrading

More possible patterns: $PGR - triple bottom at resistance $SYK - triangle below resistance $SBUX - bullish basing pattern at Fib resistance $HWM - inverse head & shoulders *Not a recommendation @SchwabNetwork @SchwabTrading

Patterns: $T - failed double top $UBER - range breakdown $LMT - ascending triangle $MO - range near resistance *Not a recommendation @SchwabNetwork @SchwabTrading

Patterns & setups across various time frames: $VZ - double bottom with a resistance break $ANET - retest of resistance of a head & shoulders variation $CRWD - possible confirmed bounce with a CAHOLD (close above the high of the low day) $PFE - double bottom with a resistance break *Not a recommendation @SchwabNetwork @SchwabTrading

Patterns: $UNH - head & shoulders $PLTR - at support of large range $SNDK - triangle $QCOM - at support of range, with support break it becomes a double top *Not a recommendation @SchwabNetwork @SchwabTrading

$ORCL oof *Not a recommendation @SchwabNetwork @SchwabTrading

Patterns across various time frames: $MU - triangle $CAT - at support of its range $KO - base breakout $NFLX - descending triangle *Not a recommendation @SchwabNetwork @SchwabTrading

Chart of the day: $Copper nearing support around 6.14, forming a 'possible' double top pattern (This only becomes a bearish reversal formation if support is broken) *Not a recommendation @SchwabNetwork @SchwabTrading

Great chart & commentary *Symbols not a recommendation

Today's Chart of the Day was shared by @RachelDashCS While the S&P 500 is on pace for its second-straight down week, market breadth has actually improved over that same period. Get the full details in today's report plus more great charts. ⬇️ thechartreport.com/06-10-26

$Healthcare breakouts $GH $DXCM $JNJ *Not a recommendation @SchwabNetwork @SchwabTrading

Chart of the day: Market Breadth check - 1) % of $SPX stocks > 200 DMA = expanding 2) % of $SPX stocks > 50 DMA = expanding 3) $NYSE new highs = room for improvement & expansion 4) $NYSE new lows = declining (this list typically expands during corrective phases) *Not a recommendation @SchwabTrading @SchwabNetwork

Join me at 1pm ET on #SchwabCoaching to trade some price patterns! youtube.com/watch?v=9XJ97lwm… $CARR $BRK.B $OPEN $OSCR Agenda: how to identify price formations, using multiple time frame approach, waiting for confirmation, calculating profit targets and managing risk, and utilizing derivatives. *Not a recommendation @SchwabNetwork @SchwabTrading