The Stock Market Isn’t Showing Follow Through. What It Means.

“Anytime we get a large advance like we saw yesterday—especially on positive news—we want to see follow-through,” Frank Cappelleri, founder of technical analysis firm CappThesis, tells Barron’s. “That said, it doesn’t necessarily have to occur immediately.” Cappelleri says that’s only happened three times since early 2022: Right after the April 2025 low, November 2022, and during the March 2022 bear market rally. “Given the magnitude of the move, we should expect some degree of profit-taking or digestion,” Cappelleri says.