Callum Thomas

Callum Thomas

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Founder, Topdown Charts; global macro charts with U.S. equities leadership context.

New Weekly S&P 500 ChartStorm Analysis Released
SocialMar 26, 2026

New Weekly S&P 500 ChartStorm Analysis Released

ICYMI: Weekly S&P500 ChartStorm blog post https://t.co/afMKJCaz1q Thanks + follow reco to chart sources @MarketCharts @topdowncharts @WallStJesus @MebFaber @TheChartReport

By Callum Thomas
Stocks at Critical Support: Oversold, Risky, Now-or-Never Rebound
SocialMar 23, 2026

Stocks at Critical Support: Oversold, Risky, Now-or-Never Rebound

Learnings and conclusions from this week’s charts: 1. Stocks are at a make-or-break point (major support level). 2. Conditions are increasingly oversold. 3. Sentiment and valuations have seen a partial reset. 4. (albeit from an overvalued/excess-greed starting point) 5. Pre-war, the global earnings/macro pulse was...

By Callum Thomas
Oversold Markets Signal Rebound Amid Bearish Technicals
SocialMar 16, 2026

Oversold Markets Signal Rebound Amid Bearish Technicals

Learnings and conclusions from this week’s charts: 1. Technically things look fairly bearish overall. 2. But recent history shows the tendency for rebounds (even during bear markets). 3. And conditions are currently looking notably oversold. 4. Yet there are some vulnerabilities being exposed in...

By Callum Thomas
Weekly S&P 500 ChartStorm Analysis Now Live
SocialMar 9, 2026

Weekly S&P 500 ChartStorm Analysis Now Live

ICYMI: Weekly S&P500 ChartStorm blog post https://t.co/R1NJQM4nyj Thanks + follow reco to chart sources @MarketCharts @topdowncharts @StockCharts @MikeZaccardi @zerohedge @dailychartbook @Bluekurtic @BoringBiz_

By Callum Thomas
Weekly S&P 500 ChartStorm Recap Now Available
SocialFeb 24, 2026

Weekly S&P 500 ChartStorm Recap Now Available

ICYMI: Weekly S&P500 ChartStorm blog post https://t.co/BjOhiFzufn Thanks + follow reco to chart sources @MarketCharts @AlphaPicks @TaviCosta @0xkyle__ @SamRo @SubuTrade @SnippetFinance @OptimizedPort @topdowncharts

By Callum Thomas
Bullish Rotation Holds; Tech Trouble Offset by Commodities
SocialFeb 23, 2026

Bullish Rotation Holds; Tech Trouble Offset by Commodities

Learnings and conclusions from this week’s charts: 1. Bullish rotation remains in play. 2. Tech stocks still look troubled. 3. AI spillovers are helping (already bullish) commodities. 4. Newspaper stocks present a case-study in disruption. 5. Commodity stocks (as a group) look good. Overall, the US...

By Callum Thomas
Defensives Hit Dot‑Com Lows, Poised for Rally
SocialFeb 19, 2026

Defensives Hit Dot‑Com Lows, Poised for Rally

Chart of the Week - Defensives With tech in trouble (+a number of macro risks lurking on the horizon), defensives are starting to look interesting… Defensives (i.e. an equal-weighted basket of: Utilities, Healthcare, Consumer Staples) are turning up vs the S&P500 —after...

By Callum Thomas
US Tech Dominance Fades as Global Rotation Shifts
SocialFeb 16, 2026

US Tech Dominance Fades as Global Rotation Shifts

This chart captures the 2 most important themes in the Stockmarket right now. 1. Global vs US rotation 2. Top in tech stocks For the past 17-years US Tech stocks have dominated global markets, but that is starting to change... https://t.co/6DhUXusR6C

By Callum Thomas
Weekly S&P 500 Chart Review Highlights Key Trends
SocialFeb 16, 2026

Weekly S&P 500 Chart Review Highlights Key Trends

ICYMI: Weekly S&P500 #ChartStorm blog post https://t.co/B5a4uBC2Q4 Thanks + follow reco to chart sources @MarketCharts @topdowncharts @dailychartbook @MauiBoyMacro @KobeissiLetter @StealthQE4 @HayekAndKeynes

By Callum Thomas
Tech Pressure Rises, Defensives Gain Amid Market Crossroads
SocialFeb 15, 2026

Tech Pressure Rises, Defensives Gain Amid Market Crossroads

Learnings and conclusions from this week’s charts: 1. Tech stocks (particularly software) remain under pressure. 2. Investor exposure to tech is at historically elevated levels. 3. Surging tech capex is coming at the cost of buybacks. 4. Private equity stocks are also coming under...

By Callum Thomas
Tech Stocks' Valuations Soar, Yet Margins Remain Stretched
SocialFeb 14, 2026

Tech Stocks' Valuations Soar, Yet Margins Remain Stretched

Biggest strength for Tech Stocks. and their biggest weakness? (stretched valuations are underpinned by stretched profit margins) https://t.co/JyYGvhtRlC

By Callum Thomas
Tech Stocks Peaked; Valuations Stretched, Technical Outlook Shaky
SocialFeb 12, 2026

Tech Stocks Peaked; Valuations Stretched, Technical Outlook Shaky

The big issue is Tech Stocks have peaked, are on technically shaky ground ---AND this is coming from a starting point of stretched Valuations. https://t.co/3QKdtdJm7n

By Callum Thomas
Tech Peaks; Next Moves Mapped in 10 Charts
SocialFeb 11, 2026

Tech Peaks; Next Moves Mapped in 10 Charts

Off-Topic ChartStorm - Tech Stocks Tech has topped, what's next? Here's 10 charts outlining the situation and thoughts on the risks + opportunities: https://t.co/WKltkF9gOt https://t.co/k0pxNxZedy

By Callum Thomas
Weekly ChartStorm Reveals Hidden Stock Market Seasonality Angles
SocialFeb 10, 2026

Weekly ChartStorm Reveals Hidden Stock Market Seasonality Angles

You may think you know all about stockmarket seasonality... but this special focus piece from the Weekly ChartStorm lays out a few more angles and details that you might not have considered before: https://t.co/5sf2QCC8pE https://t.co/XBuZIufwiB

By Callum Thomas
Weekly S&P 500 ChartStorm Highlights Market Trends
SocialFeb 9, 2026

Weekly S&P 500 ChartStorm Highlights Market Trends

ICYMI: Weekly S&P500 ChartStorm blog post https://t.co/eQY6d47hAk Thanks + follow reco to chart sources @topdowncharts @MarketCharts @MikeZaccardi @BlakeMillardCFA @WillieDelwiche @alphacharts @AugurInfinity @SnippetFinance @EricBalchunas @TuttleCapital @Todd_Sohn

By Callum Thomas