Equifax Inc. (EFX)

Equifax is a global provider of information and credit reporting solutions for businesses, governments and consumers. Founded in 1899 as Retail Credit Company and based in Atlanta, the company has more than 15,000 employees in 24 countries. The EFX shares are a component of the S&P 500.

Based on closing prices, the S&P 500 (SPX) has recovered 61.8% of the losses from last week. More importantly, the index held initial trendline support off the lows since late July. With a couple of higher lows and a flat top, it still appears the index is working on a bullish ascending triangle. These formations typically are continuation in nature and therefore are extensions of the prior trend (which, of course, was higher). It is also possible the SPX is working on a less-common bullish base-on-base pattern that started about five months ago. A clean (strong) breakout above the 7,820 region would complete both formations and open the door for a possible rally above 8,000. The AI-heavy Nasdaq 100 (QQQ, 725) has more work to do simply because the recent pullback was larger than that in many other indices. Despite the big hit last week, it's still possible the QQQ is working on a bullish continuous inverse head-and-shoulders (H&S) pattern as well as a bullish cup-with-a-high-handle pattern. To complete these formations, price needs to blow through the recent closing high of 760, which is 5% above Wednesday's close. These potential breakouts must last two or three days and take out the old highs by at least 1%. A breakout on an increase in volume also would add to confirming the bullish patterns. The S&P MidCap 400 (MDY, 669) fell to its 200-day average in late September and has bounced off this key support numerous times of late. Near-term resistance comes from the recent high at 678, which also is the location of the falling 50-day average. Initial resistance for the S&P SmallCap 600 (SML 1,676) is at 1,700.

Along with Experian and TransUnion, Equifax is one of the leading credit bureaus in the United States. Equifax’s credit reports provide credit histories on millions of consumers, and the firm's services are critical to lenders’ credit decisions. In addition, about 40% of the firm’s revenue comes from Workforce Solutions, which provides income verification and employer human resources services. Equifax generates about 25% of its revenue from outside the United States.

Along with Experian and TransUnion, Equifax is one of the leading credit bureaus in the United States. Equifax’s credit reports provide credit histories on millions of consumers, and the firm's services are critical to lenders’ credit decisions. In addition, about 40% of the firm’s revenue comes from Workforce Solutions, which provides income verification and employer human resources services. Equifax generates about 25% of its revenue from outside the United States.