Kevin Horner’s charts cover the S&P 500 (SPX), Applovin (APP), and Steel Dynamics (STLD). On the SPX, he marks the 6,840 line and the 6,550 line as the index hits a new all-time high today. “Not allowing narrative concerns” to outweigh price action is “really, really hard,” he says, but traders need to do it. Applovin is “digesting” its big 2025 move, which saw returns of over 100%, and there is a “good setup for bulls.” Steel Dynamics has seen its 50-day moving average run up along with the chart, and price now seems to be testing support.

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