2 sectors to BUY NOW with stocks at records! | Frank Cappelleri
Full Signal
Phil Rosen
4.8 • 18 Ratings
🗓️ 20 April 2026
⏱️ 24 minutes
🧾️ Download transcript
Summary
Frank Cappelleri is a veteran market technician and the founder of CappThesis. He joins Phil Rosen on Full Signal to discuss the S&P 500 path to 7,400, the rotation back into technology and financials, the bullish setup in software after the worst month since 2008, why oil and the 10-year yield are moving in lockstep, and how bitcoin and ethereum are now trading in sync with the software trade.
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Timestamps:
0:00 - Intro
0:20 - S&P 500 7,400
3:21 - Liberation Day similarities
3:51 - Technology ready to lead
4:52 - XLK vs XLE ratio chart
7:10 - Price action vs headlines
8:39 - 10-year yield and oil
10:51 - Software's bullish setup
13:57 - Charts vs fundamentals
15:23 - Most bullish sectors
16:44 - Outlook for rest of 2026
17:28 - Sectors to avoid
19:45 - What clients fear most
21:42 - Software trade setup
22:54 - Bitcoin and ethereum
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Transcript
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| 0:00.0 | What's up, guys? We are back to all-time highs in the S&P 500, and I am sitting down with Frank |
| 0:04.8 | Capillary today. He is one of the best technical strategists I have ever met. He's the founder of |
| 0:10.0 | CAP thesis, and we get into his favorite sectors right now, why technology and software look pretty |
| 0:15.8 | bullish and much more. I think you're going to love this conversation. Frank, I'm so glad you're here today. I have to ask you about S&P 500, 7,000 V-shaped recovery. We've come roaring back. What are you watching right now? Well, thanks a lot, Phil. I appreciate it. And congrats on all your success here and all your endeavors here. So it's been quite a run. And V-shaped sometimes I think is |
| 0:39.2 | thrown around a lot, but this is exactly what it was from a price action perspective, especially. |
| 0:43.7 | So I think it's very difficult unless you've been in this the whole time to say you called it. |
| 0:48.2 | Because anyone who's participated in this, the 100% the way up, probably is a long-term investor, |
| 0:53.5 | and that's great, |
| 0:57.9 | right? But I look at things, you know, from a chart perspective and try to, you know, |
| 1:03.0 | advise our clients, you know, more from a short-term tactical point of view as well. And so what's been good about this is that obviously markets are moving higher and now the more |
| 1:07.3 | opportunities popping up. I would say the drawdown is that sometimes this move is so fast that it's impossible to |
| 1:14.3 | really lock in on patterns that will get you there. |
| 1:17.5 | But along the way, because the market pulls back and you have a lot of volatility, volatility |
| 1:23.2 | is what creates opportunities, right? |
| 1:24.9 | You know that from just buying the dip mentality, but eventually |
| 1:28.2 | bullish patterns as well. So one of the patterns that we have identified for the S&P 500 has an upside |
| 1:32.9 | target of 74-75 right now. That's just using classic measure move. So you take just the advance from |
| 1:40.1 | the low to the most recent high. And if you get some sort of pause from that, you can create a higher |
| 1:45.1 | low and then move higher. And so we need a lot more of that to happen now with, say, for especially |
| 1:50.8 | technology related ETFs and stocks because those have just been really straight up. |
| 1:56.2 | So just to clarify, you see 7,400 as the next like level to hit. Is that the way to think about it? |
| 2:02.9 | Around that, yes, correct. And it's not, obviously, we haven't hit that yet. So it's up there. |
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