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CappNotes · Aug 5, 2026

S&P 500 Hits a Huge Price Target

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Frank Cappelleri · CappNotes

Good morning,

Check out the YouTube version here.

Also, here’s my latest LinkedIn post: Patterns reveal the present. Not the future.

🎯 7,680 Target Achieved – What hitting this objective means for the broader market.

🚀 New Bullish Patterns – Two more pattern breakouts have triggered.

🐂 Failed Bearish Patterns – When bearish setups fail, they often become fuel for the next advance.

⚡ MACD Signals – Which signals worked, which didn't, and why price always has the final say.

🏥 Industry Focus: IHI Medical Devices – A sector showing improving technical characteristics.

📊 Small Patterns Become Big Patterns – Why successful trends often begin with relatively small consolidations before expanding into much larger moves.

💰 Bursts of Buying & Long-Term Support – The technical ingredients that continue to support this rally.

💪 Relative Strength – The final confirmation that helps separate leadership from laggards.

0:00 - Intro
0:23 - 7,670 target hit
1:43 - Failed bullish patterns
2:28 - Potential bullish patterns
3:09 - 7,925 target triggered4:28 - Failed bearish patterns
5:39 - Pattern grid
6:45 - 8,005 target triggered
8:17 - Failed weekly MACD sell signal
9:16 - Short term stretched
11:35 - IHI Medical Device ETF focus
12:14 - Failed MACD BUY signals
14:05 - Emerging bullish patterns
15:58 - Bursts of buying
16:57 - Long-term support
17:33 - IHI vs. XLV Healthcare

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