#61 - Technical Analysis, Trend Following, and Risk Management with Frank Cappelleri, Founder, CappThesis (recorded 02/11/26)

In this episode of The Bull of Wall Street, Talley Leger and Jim Worden are joined by Frank Cappelleri, founder of CappThesis, for a technical-analysis focused discussion centered on chart patterns, trend identification, and practical risk management.

Frank shares his background, including early experience alongside technical analysis pioneers and later work with institutional trading desks. He describes how his process emphasizes classical chart patterns, relative strength, and an effort to reduce bias by focusing on what price action is doing rather than what a symbol or narrative “should” do.

The conversation also covers how Frank thinks about market environments, why certain indicators may work better in some periods than others, and how he thinks advisors and active investors can approach position sizing and stop discipline in more volatile conditions.

What You’ll Learn

How Frank’s approach uses classical chart patterns as the foundation for trend analysisWhy frank believes relative strength and “what is working” can matter more than narrativesHow Frank frames risk first, including stop discipline and position sizingWhy “time corrections” and “price corrections” can look different in practiceWhat Frank looks for before acting on potential reversals in silver and bitcoinWhy indicators can behave differently depending on the market environmentHow advisors can use technical frameworks as a way to organize risk discussions

Chapters

02:10 The origin of CappThesis and what differentiates Frank’s approach

03:35 Early influences, industry group relative strength, and “riding what works”

07:02 Trend following, classical patterns, and how uptrends often build over time

08:50 Changes in how technical analysis is perceived and used today

11:22 Why risk management and price discipline are central to the process

13:00 Stop discipline, volatility adjustments, and position sizing considerations

14:23 S&P 500 discussion, zones, and the role of market leadership

16:16 Consolidations, “time corrections,” and the psychology of ranges

20:20 Trading boxes, support and resistance, and different ways to visualize structure

23:42 Software versus semiconductors divergence and what it may imply

28:30 Long-term relative support and why timeframe context can matter

41:05 Silver uptrends, moving averages, and what to watch in a pullback

47:20 Bitcoin patterns, retracements, and correlation observations

50:26 Base-building versus early entry and how Frank approaches patience

55:01 Market structure considerations and why large flows can influence moves

58:43 ETFs, options, and how short-term dynamics can impact price action

Guest

Frank Cappelleri, Founder, CappThesis

Speakers

Talley Leger, Chief Market Strategist, The Wealth Consulting Group

Jim Worden, CFA, CMT, CAIA, Chief Investment Officer, The Wealth Consulting Group

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