Chip stocks fell eight sessions running and futures bounced overnight. Four of 24 charts are tradeable, all at half size. Copa is the buy: it held the price large money paid for it, $132.69, through Friday’s selloff, and its range is wound tighter than last week. Banner waits for Wednesday’s earnings. Franklin Electric is a long. DuPont is a short.
| Buy | Copa long, half size. The terminal flags a coiled-spring setup, 13 readings agree on three frames, and its report is a month away. |
| Buy | Franklin Electric long, half size, on a four-hour close over its line. Out before it reports on October 28. |
| Sell | DuPont short, half size, on the first four-hour close under its line. Only one timeframe agrees, so it ranks third. |
| Wait | Banner. Coiled 97%, the tightest on the scan, but it reports Wednesday after the close. The coil resolves on the print, not before it. |
| Skip | Seacoast, Primerica and all four indices. Twenty of 24 charts carry a red light, including the scan’s other coiled-spring setup and its highest confirmation. |
The Philadelphia semiconductor index fell 3.83% on Friday, its eighth straight loss and the longest losing run since October 2008. The Nasdaq Composite closed at 26,140.03, down 4.5% on the week, while the Dow finished up 0.7%. Futures turned overnight: the Nasdaq 100 traded up more than 1% and the S&P 500 about 0.8%, with Netflix reporting Tuesday and Tesla and Meta on Wednesday after the close.
Single stocks read Early Cycle for a third session off Friday’s close, tailwind for longs +2. Bonds and stocks on those charts still move together at 0.37, over the 0.35 stress line, so every trade below is half size.
| Book | Reading | What it means this morning |
|---|---|---|
| Stock charts Friday’s close | Early Cycle +2 of 10.5 | Risk appetite was still off at the close and bonds and stocks moved together at 0.37. This is the clock the trades below run on. Half size. |
| Index charts live, 10:13 CEST | Full Risk-On +4 of 10.5 | The risk layer switched on with the overnight bounce, the tailwind for longs reads +4, and bonds and stocks move apart at −0.32. One clean session carries this to the stock charts. |
| Our engine daily bars, Sunday | Late Cycle +2 | The daily clock switched stocks off after Friday and docks longs −1, with the VIX at its 19.99 close. It has not seen the bounce yet. |
| Index | The line | What it means this morning |
|---|---|---|
| S&P 500 CFD 7,710.55 | Inside | 0.33% over its 7,685 cost line, from 0.96%. Confirmation 9 on two frames, two crossings in 83 bars a side. Red, improving, −.12R over 26. |
| Nasdaq 100 CFD 29,529.0 | Back under | 0.70% under its 29,737 line, from 0.73% over on Friday morning. Red, fading, +.01R over 115. |
| Dow CFD 52,047 | Slipped under | 0.43% under its 52,272 line, from 0.03%, and the swing flipped to bear. Red, fading, −.09R over 47. |
| Russell 2000 CFD 2,736.2 | Lost it | 5.02% under its 2,881 line, from 3.92%. The oversold snapback is active on two frames, but a snapback on a red light is not a buy. Red, holding, −.02R over 37. |
The index panel improved to Confirming, +4 of 8, from Neutral +2 on Friday morning, with 45.1% of stocks above their 50-day average and 51.9% above their 200-day. Our own engine, run after Friday’s close at 00:56 CEST on its watchlist, labels the tape Breadth Recovery. Its numbers do not: 23 advancers, a net of −28, advance/decline 0.45, and a McClellan of −36.6, down from −9.0. Only 31.1% of its names sit above their 50-day. 62.2% still hold the 200-day.
Every capture was taken between 10:13 and 10:27 CEST. Stock readings sit on Friday’s close; four printed pre-market. TransUnion closed 0.39% over its line and printed $73.57, 0.31% under it. MercadoLibre printed $1,843.10, still under its line. Wells Fargo and CVS printed on the same side they closed. The S&P CFD at 7,710.55 sits 0.67% over Friday’s 7,659.44 cash close. Every entry below is judged on the first four-hour close after the 15:30 CEST open, at 19:30 CEST.
| Name | Reports | What it does to the trade |
|---|---|---|
| FNB | Today | Red light anyway. Left alone. |
| MSCI | Tue, before the open | Red light. Left alone. |
| BANR | Wed, after the close | No new entry before the print. The plan starts Thursday. |
| FELE | Oct 28 | Seven sessions of room. Flat before the report. |
| DD | Nov 3 | Clear for the life of a four-hour trade. |
| CPA | Nov 18 | A month of clear road. |
| # | Ticker | Dir | Entry | Why it is on this list | Size |
|---|---|---|---|---|---|
| 1 | CPA | Long | 🔒 Members | Ten weeks of base on its cost line, held through Friday’s selloff, and wound from building to coiled since ThursdayCoiled-spring setup · Conf 13 / 3 frames · coiled 80% · converged 92% · +.08R over 66 signals, range −.03 to +.19 · amber, holding, 10.9-point cushion | Half |
| 2 | FELE | Long | 🔒 Members | Fell from $110 in September, based between $95 and $100 for three weeks, and closed Friday back over its lineConf 10 / 2 frames · coiled 71% · +.03R over 143 signals, range −.03 to +.10 · amber, holding | Half |
| 3 | DD | Short | 🔒 Members | Broke from $146 to $124 in early October, bounced back to its line and has failed to hold over it for two weeksConf 6 / 1 frame · coiled 77% · +.07R over 121 signals, range −.01 to +.15 · amber, improving, 8.2-point cushion | Half |
| 4 | BANR | Long | 🔒 Members | Three weeks on its line, wound to 97%, with earnings Wednesday after the closeConf 10 / 4 frames · coiled 97% · +.08R over 92 signals, range −.01 to +.18 · amber, improving, 10.9-point cushion | Half, after the print |
Friday’s number held. Copa closed at $132.96, 27 cents over its line, on a day the Nasdaq fell 2.14%. Four-hour closes over $132.69 keep the long live. A close under it ends the setup, and you wait.
You can check this against the tape yourself, which is why it sits on the free side of the gate. The exit and the targets do not.
Enter your Cantillon Research subscriber email to unlock the complete October 19, 2026 brief: the Copa, Franklin Electric and DuPont bands and exits, the Banner plan around Wednesday’s print, every pre-market price against its cost line, and all 24 four-hour captures.
Every Friday the complete brief ships open, with all levels, every execution block and all terminal captures, and no gate anywhere on the page.
Cost line (the anchor) · the volume-weighted price large money actually paid over the current swing. Everything in this brief is measured as distance from it. Buy near it and you are paying what they paid. Buy far above it and you are paying their profit. Entry window · how far from the cost line a new entry can still be sensibly priced. Inside it, the entry is fairly priced. Past it, the move has already run and you wait for a pullback. Compression · how tightly the range has wound, from 0 to 100%. High means the next move should be a big one. It says nothing about direction, and it never overrides a shut window. Confirmation · how many independent readings agree, and across how many timeframes. Higher on both counts is better. Record · the average result per signal in units of risk, where being stopped out is exactly −1.00. Always published with the number of finished signals behind it, and measured over the same history the settings were chosen on. Below 20 finished signals no rate is published. A short record is not a verdict on the chart, only on what can be measured yet. Trend light · green means full size, amber means half, red means no new entry however good the chart looks. A chart with no light yet, because its record is still being built, is sized at half. The cushion is how close the light is to changing.
Readings captured Monday 19 October 2026 between 10:13 and 10:27 CEST from the IVT v14.4 terminal, on four-hour bars. Stock readings reflect Friday’s close; prices marked pre-market are extended-hours prints. Index levels are live CFD feeds and differ from the cash index and your futures contract. US exchanges open at 15:30 CEST. Cost lines and window edges are derived from the terminal’s published percentage distances. Support and resistance levels are read off the chart and are approximate.
Records are in-sample and forecast nothing. No rate is published on fewer than twenty finished signals, and the sample size is printed beside every one. Banner reports after Wednesday’s close, Franklin Electric on October 28, DuPont on November 3 and Copa on November 18. Do not hold a four-hour trade through a report.
Charts are unmodified terminal captures provided for reference, not as entry instructions. Educational content only. Not financial advice. Past results do not predict future ones.