Is This the End of the Bull Market? Best Stock Charts for the Week Ahead

The best stock charts for the week ahead may be the ones investors have given up on.

While traders debate whether the bull market is ending, I’m asking a more useful question: Where is the opportunity—and how much risk must we take to pursue it?

In my October 17 review, the developing monthly reversal in QQQ raises concerns about the AI-led rally. Meanwhile, beaten-down names such as Nike, MGM Resorts and Hawaiian Electric offer a different set of charts to examine.

My approach: keep a downside hedge, preserve cash and look for evidence that selling pressure is fading.

A Bull Market Warning: QQQ’s Developing Bearish Reversal

On the QQQ chart reviewed in this week’s video, prices reached a new high during October before falling below the prior month’s close.

That creates the potential for a bearish monthly key reversal. However, October is still underway. The monthly signal remains unconfirmed until the month closes.

My concern is the lack of follow-through. A breakout attracts attention. Whether buyers can defend it tells us more.

The semiconductor ETF, SMH, is another chart I’m watching for signs of weakness in the AI trade. My interpretation is that these charts warrant caution about adding fresh, long-term AI exposure.

That is an outlook, not a certainty. A recovery could change the picture.

For now, I see a market that rewards selective trading and active risk management.

What Worked in Our Trading Last Week

Our trading included profitable positions in TZA, MSFD and UTSL, as discussed in the video. Nike also rallied, helping our existing position.

The thesis behind several of these trades was that yields had moved too far, too fast. A retreat in yields could help selected interest-sensitive stocks recover.

Think of a beach ball held underwater. Release the pressure, and it can spring upward.

Stocks can behave similarly when bearish positioning becomes crowded and the pressure begins to ease. But the analogy has a limit: a stock can remain depressed, and an oversold reading does not establish a bottom.

That is why I look for support, improving momentum and evidence of buying before committing more capital.

Best Stock Charts: Nike, MGM, Hawaiian Electric and REMX

These setups are at different stages. An existing position, a watchlist candidate and a potential swing trade require different decisions.

Nike Stock: Relative Strength Worth Watching

Nike, ticker NKE, has been one of our contrarian positions.

The opportunity came from a combination of historical support and deeply negative sentiment. When expectations are already low, improving price action deserves attention.

In this week’s review, Nike’s strength against a weaker broader market stood out. One week does not establish a lasting trend, but it gives us something to monitor.

My plan is to reduce part of our position into resistance while potentially retaining a smaller position for the longer term.

A profitable trade still needs an exit plan.

MGM Stock: Waiting for Buyers to Prove Themselves

MGM Resorts, ticker MGM, remains on my watchlist. At the time of this analysis, I was waiting for a better entry.

The chart shows signs that downside momentum may be easing. RSI has improved from its lows even as price remains under pressure. That potential bullish divergence is worth watching, but it does not confirm a reversal.

Before acting, I want to see:

• Price reach an identified support area.
• Downside momentum continue to weaken.
• A convincing bullish reversal.
• Volume support the move.

Interest rates are also part of my MGM thesis. I’m watching whether easing financial pressure can help the setup, alongside the broader market.

The potential opportunity is a recovery toward resistance. The immediate job is to wait for evidence.

Check out my full in depth analysis of MGM stock here

Hawaiian Electric Stock: A Potential Swing Trade

Hawaiian Electric, ticker HE, is another beaten-down stock I’m tracking.

In the video, its daily RSI was around 24. That indicates weak momentum; it does not make the stock an automatic buy.

My concern is that the recent bounce could develop into a bear flag. I would prefer to see another test of support, followed by stronger evidence that buyers are stepping in.

Higher lows, an improving price structure and stronger buying volume would help build the case.

My interest here is primarily a swing trade toward resistance. A low share price alone does not establish value, and company-specific risks still matter.

REMX ETF: Start Small and Respect the Downtrend

We opened a very small position in REMX, the rare earth and strategic metals ETF, as discussed in the video.

The attraction was an extremely oversold daily chart. My review also identified a potential support area around $46, although price could overshoot or fail to hold it.

That makes position sizing especially important.

Being early can feel exactly like being wrong. My approach is to begin with small exposure and preserve enough cash to respond as the chart develops.

I’m watching for stronger closes, lower-price rejection and improving momentum. Those signals can suggest demand is emerging. None guarantees a durable bottom.

How I’m Trading This Market

I’m approaching this as a trader’s market: selective long exposure, a downside hedge and cash available for better entries.

The process matters more than predicting every market turn:

1. Identify historical support and nearby resistance.
2. Look for momentum to improve.
3. Seek confirmation from price and volume.
4. Define the risk before adding exposure.
5. Reduce positions when the trade reaches its objective.

The bull market debate will continue. My priority is to have a plan whether the next move is higher or lower.

Get the Trade Plan Behind the Charts

The video explains what I’m watching. Members can access the entry levels, price targets and stop-loss levels referenced in this analysis.

Explore The Contrarian Trader’s 14-day membership trials:

• Silver: 14 days free.
• Gold: 14 days for $9.
• Titanium: 14 days for $9.

Visit The Contrarian Trader to compare memberships and review the ongoing subscription terms.

Join me for Sunday Night Futures LIVE, where we’ll review the charts and prepare for the trading week.

Analysis reflects my October 17, 2026 commentary. Positions and market conditions can change. Trading involves risk; leveraged and inverse ETFs require particular care.