As of 03/18/2024
Indus: 38,790 +75.66 +0.2%
Trans: 15,418 -81.05 -0.5%
Utils: 853 +3.06 +0.4%
Nasdaq: 16,103 +130.28 +0.8%
S&P 500: 5,149 +32.33 +0.6%
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YTD
+2.9%
-3.0%
-3.2%
+7.3%
+8.0%
|
38,000 or 39,350 by 04/01/2024
16,300 or 15,350 by 04/01/2024
885 or 830 by 04/01/2024
15,200 or 16,600 by 04/01/2024
5,250 or 5,000 by 04/01/2024
|
As of 03/18/2024
Indus: 38,790 +75.66 +0.2%
Trans: 15,418 -81.05 -0.5%
Utils: 853 +3.06 +0.4%
Nasdaq: 16,103 +130.28 +0.8%
S&P 500: 5,149 +32.33 +0.6%
|
YTD
+2.9%
-3.0%
-3.2%
+7.3%
+8.0%
| |
38,000 or 39,350 by 04/01/2024
16,300 or 15,350 by 04/01/2024
885 or 830 by 04/01/2024
15,200 or 16,600 by 04/01/2024
5,250 or 5,000 by 04/01/2024
| ||
I released a new stock market book titled, Invest for Two-Comma Wealth (Ad). It's available from Amazon.com at the link.
Invest for Two-Comma Wealth ($1,000,000) is an entry-level yet comprehensive book about investing in the securities markets to grow your net worth. From annuities, bonds, and CDs, to common stocks, meme stocks, and cryptocurrency, the book explains each topic in an easy-to-understand manner.
It teaches you about scams, and how to avoid them, including those “free” lunch seminars that try to sell you something, either immediately or months later. It explains why owning your home may not be a good investment and buying gold coins with huge sales charges put you at a disadvantage.
Follow Susan as she does everything right and Basketcase Bob who serves as an example of what not to do.
If knowledge is the way to wealth, then this book is for you. Use the information in this book to invest for the long term and discover that one day you’ve joined the two-comma club.
Price $20, soft cover, print only, 300+ pages.
Here's an abbreviated list of contents.
-- Thomas Bulkowski, author: Invest for Two-Comma Wealth (Ad)
I show the Dow utilities on the daily scale.
A double bottom appears at AB. It confirms as a valid chart pattern when the index closes above the red line, which connects the highest peak between the two bottoms.
When confirmed, it becomes a valid chart pattern, suggesting a rise in price.
However, I'm looking for the index to retrace following the green line. This idea is to form a complex head-and-shoulders bottom, with two heads at AB, a left shoulder during the January low, and a new right shoulder yet to appear (D).
I don't know if this will play out, but it's worth watching.
The following is a brief review of how the markets performed over time. The numbers refer to the close-to-close move in the Dow industrials.
No options expire this week.
The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.
Index | S2 | S1 | Pivot | R1 | R2 |
Dow Industrials (^DJI): Daily | 38,444 | 38,579 | 38,754 | 38,889 | 39,064 |
Weekly | 38,081 | 38,398 | 38,800 | 39,117 | 39,519 |
Monthly | 37,437 | 38,076 | 38,679 | 39,318 | 39,921 |
S&P500 (^GSPC): Daily | 5,087 | 5,102 | 5,119 | 5,135 | 5,152 |
Weekly | 5,041 | 5,079 | 5,129 | 5,168 | 5,218 |
Monthly | 4,807 | 4,962 | 5,076 | 5,231 | 5,345 |
Nasdaq (^IXIC): Daily | 15,855 | 15,914 | 15,985 | 16,044 | 16,114 |
Weekly | 15,709 | 15,841 | 16,058 | 16,190 | 16,408 |
Monthly | 14,960 | 15,467 | 15,958 | 16,465 | 16,956 |
Here are the formulas:
Earnings season is over.
Here's a symbol list of 181 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ABT, ABM, AXDX, ACN, ACIW, AFL, ALB, AA, ALL, DOX, AMED, AMWD, APH, ANIK, APOG, ACGL, ADM, AWI, ASH, AIZ, BMI, BCPC, BSET, BECN, BERY, BBY, BIG, BR, BG, CAL, CPB, CX, CIEN, CSCO, CNO, CNX, CTSH, CL, CMCO, ED, CSGP, CW, DFS, DRQ, EMN, ECL, WIRE, EVRG, FLEX, FTNT, FDP, GIS, GNW, GMS, GS, HLIT, HIG, HQY, HP, HSIC, HOLX, HWM, JBHT, IDA, ITW, IIIN, IPAR, JKHY, KALU, KFRC, LNC, LXU, MCHX, MTRX, MU, MLKN, MOS, MLI, NOV, NFLX, NWL, NOC, NWPX, NUS, ORI, OLN, OMCL, PKE, PATK, PDCO, PEN, PLXS, PFG, PRU, RJF, RTX, RGA, RLI, ROL, RES, CRM, SAND, SCHW, SMG, SEE, SEIC, STR, SMAR, SCCO, SPLK, SXI, SCS, SRDX, TECH, TDY, TKR, TSCO, TZOO, TG, SLCA, UGI, VFC, VLO, VECO, MDRX, VRTX, WRB, WMT, WAT, WLK, WMB, WWW, WWD, ZBRA, IYC, IHE, QTEC, FXL, FXI, IGV, SLV, EWA, EWK, EEM, EWG, EWH, EWJ, EWM, EPP, EZA, EWY, EWP, EWL, TUR, PEJ, PXJ, XLY, XLF. Click this link for details (pattern type, start and end dates).
For a list of small patterns (those a few days wide) click this link.
The below industries were the best (rank 1) or worst performing of those I follow.
|
-- Thomas Bulkowski
$ $ $
Here's a symbol list of 142 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ADTN, AES, ALB, ALKS, DOX, AMED, AIG, AMWD, AMN, APH, AAPL, ATO, ADSK, AVA, BSET, BIG, BAH, BBW, BLDR, CACI, CX, CNC, CDAY, CF, CRL, CIEN, CSCO, CNX, CTSH, CMCO, CONN, COP, CXW, DFS, EMN, WIRE, EFX, EXC, FISV, FIVN, FLS, FORM, IT, GMS, GS, GFF, HLIT, HQY, HNI, JBHT, HUN, ITW, PODD, TILE, IPI, IRM, JKHY, KMT, KFRC, LHX, LAMR, LEG, LPLA, MCHX, MKTX, MRTN, MA, MDT, META, NKE, NUS, OXM, PATK, PDCO, PEN, PETS, PHM, RTX, RGS, ROK, ROP, ROST, R, SLB, SEE, SEIC, SIGI, SWX, SPLK, SCS, SRDX, TDY, TFX, TDC, TTD, TKR, UPS, VFC, VLO, VECO, VEEV, MDRX, VRTX, V, VMC, WMT, WSO, WSC, WWD, IYK, IYC, IDU, IEO, EEM, EWQ, EWJ, EWS, EWY, TUR, PPA, DBA, PBE, PEJ, PHO, XLY, XLF, XLI, XAR, USO, VIS. Click this link for details (pattern type, start and end dates).
For a list of small patterns (those a few days wide) click this link.
$ $ $
You can find setups based on a Fibonacci retrace by clicking on the link.
The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.
In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.
For details about the chart patterns, click here.
-- Thomas Bulkowski
Symbol | Chart Pattern | Bullish Bearish | Start | End | Industry |
MMM | Double Bottom, Eve and Eve | 02/20/2024 | 03/04/2024 | Diversified Co. | |
ADBE | Double Bottom, Eve and Eve | 02/20/2024 | 03/06/2024 | Computer Software and Svcs | |
ALK | Double Bottom, Adam and Adam | 03/04/2024 | 03/11/2024 | Air Transport | |
AZTA | Double Top, Adam and Adam | 03/04/2024 | 03/08/2024 | Semiconductor Cap Equip. | |
BECN | Diamond top | 02/14/2024 | 03/14/2024 | Retail Building Supply | |
BERY | Ugly double bottom | 02/07/2024 | 02/28/2024 | Packaging and Container | |
BIG | Pipe top | 02/26/2024 | 03/04/2024 | Retail Store | |
BKH | Double Bottom, Eve and Eve | 01/19/2024 | 02/07/2024 | Electric Utility (West) | |
CNP | Head-and-shoulders bottom | 01/24/2024 | 03/01/2024 | Electric Utility (Central) | |
CSCO | Double Bottom, Eve and Adam | 02/20/2024 | 03/01/2024 | Computers and Peripherals | |
CLF | Head-and-shoulders top | 03/01/2024 | 03/13/2024 | Metals and Mining (Div.) | |
CNX | Double Bottom, Eve and Eve | 01/18/2024 | 02/14/2024 | Natural Gas (Diversified) | |
CMTL | Dead-cat bounce | 03/13/2024 | 03/13/2024 | Telecom. Equipment | |
CSGS | Double Top, Adam and Eve | 02/12/2024 | 02/28/2024 | IT Services | |
^DJU | Double Bottom, Adam and Adam | 02/13/2024 | 03/01/2024 | None | |
^DJT | Triangle, symmetrical | 02/20/2024 | 03/11/2024 | None | |
EFX | Double Top, Adam and Eve | 02/29/2024 | 03/08/2024 | Information Services | |
FICO | Double Top, Eve and Eve | 02/09/2024 | 03/08/2024 | IT Services | |
FARO | Triple top | 01/30/2024 | 02/28/2024 | Precision Instrument | |
FLS | Triangle, symmetrical | 02/16/2024 | 03/05/2024 | Machinery | |
GME | Broadening top, right-angled and descending | 01/17/2024 | 02/26/2024 | Retail (Special Lines) | |
HUBG | Double Top, Eve and Eve | 12/26/2023 | 01/23/2024 | Trucking/Transp. Leasing | |
HURC | Dead-cat bounce | 03/08/2024 | 03/08/2024 | Machinery | |
IDA | Double Bottom, Adam and Adam | 02/14/2024 | 03/01/2024 | Electric Utility (West) | |
IDXX | Double Top, Eve and Eve | 02/06/2024 | 03/01/2024 | Drug | |
IPG | Double Bottom, Adam and Adam | 02/09/2024 | 03/01/2024 | Advertising | |
KFRC | Double Top, Adam and Adam | 03/04/2024 | 03/08/2024 | Human Resources | |
KMB | Broadening bottom | 12/13/2023 | 03/13/2024 | Household Products | |
M | Double Bottom, Adam and Adam | 01/19/2024 | 02/29/2024 | Retail Store | |
MRO | Triple bottom | 01/18/2024 | 02/13/2024 | Petroleum (Integrated) | |
MLI | Diamond top | 02/27/2024 | 03/13/2024 | Metal Fabricating | |
NBR | Double Bottom, Adam and Adam | 02/05/2024 | 02/13/2024 | Oilfield Svcs/Equipment | |
^IXIC | Diamond top | 02/23/2024 | 03/14/2024 | None | |
NOC | Triangle, descending | 02/26/2024 | 03/14/2024 | Aerospace/Defense | |
OLN | Triple bottom | 02/05/2024 | 02/20/2024 | Chemical (Basic) | |
OMC | Pipe bottom | 02/05/2024 | 02/12/2024 | Advertising | |
PTEN | Double Top, Eve and Eve | 02/16/2024 | 03/08/2024 | Oilfield Svcs/Equipment | |
POR | Head-and-shoulders bottom | 01/24/2024 | 03/01/2024 | Electric Utility (West) | |
PRU | Triangle, symmetrical | 02/15/2024 | 03/01/2024 | Insurance (Life) | |
QCOM | Pipe bottom | 01/29/2024 | 02/05/2024 | Telecom. Equipment | |
ROP | Triangle, symmetrical | 01/30/2024 | 03/14/2024 | Industrial Services | |
SLB | Head-and-shoulders bottom | 01/30/2024 | 02/28/2024 | Oilfield Svcs/Equipment | |
SRE | Head-and-shoulders bottom | 01/24/2024 | 03/04/2024 | Electric Utility (West) | |
STR | Ugly double bottom | 02/05/2024 | 02/23/2024 | Natural Gas (Diversified) | |
LUV | Triple top | 02/22/2024 | 03/08/2024 | Air Transport | |
TPX | Broadening top | 02/29/2024 | 03/13/2024 | Furn/Home Furnishings | |
RIG | Pipe bottom | 02/20/2024 | 02/26/2024 | Oilfield Svcs/Equipment | |
TREX | Diamond top | 03/04/2024 | 03/14/2024 | Building Materials | |
VECO | Pipe top | 02/26/2024 | 03/04/2024 | Precision Instrument | |
WPM | Pipe bottom | 02/20/2024 | 02/26/2024 | Metals and Mining (Div.) |
Since I post this the night before, check how the futures are trading before market open. Large moves can affect the opening direction.
$ $ $
I show a picture of the Ethereum (ETH-USD) on the weekly scale.
Ethereum is a cryptocurrency. A rising wedge appears highlighted in green on the chart. Those breakout downward most often. In this case, the breakout was upward and it led to a strong rally.
I drew a red line from the current price backward in time to the left, just so I could see where it lines up with overhead resistance (circled in red). The crypto is right in the middle of resistance. That means the upward run could stall, even reverse.
However, the trend upward over the last two weeks or so is strong. It might continue. I'd like to say that the rally is overextended, and it is, but these upward runs can last longer than we imagine.
So, yes, I think the upward move will continue.
$ $ $
Here's a symbol list of 137 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABM, AXDX, ADTN, AES, ATSG, ALB, ALGT, AEP, AEL, AMWD, APA, ADSK, AVY, AVA, BAX, BZH, BIG, BIO, BA, BSX, BFH, CDNS, CX, CDAY, CF, CRL, CVX, CIEN, CMTL, COP, CROX, DVN, FANG, DDS, DSGR, DOV, BOOM, EMN, WIRE, EOG, EXC, FIVN, FTNT, FCX, GPS, GNW, GL, GFF, GES, HE, HP, DHI, PODD, IPG, JAZZ, KMB, LHX, LEN, MGY, MRO, MCHX, MTDR, MTRX, MDT, MUR, NOV, NEE, NTNX, OXY, ASGN, ORCL, PATK, PEN, PETS, PINC, PSTG, KWR, RCKY, ROG, ROP, ROST, RES, SBH, SAND, SLB, SEE, STR, SCCO, LUV, SWN, SPLK, SRDX, TRGP, TFX, RIG, UPS, UNH, VLO, VECO, MDRX, WRB, WU, WSM, WWW, IYK, IYE, IEZ, IEV, IXC, MXI, IGE, IEO, EWO, EWC, ECH, EWQ, EWH, EWI, EPP, EWS, EZA, EWP, EWD, TUR, EWU, PXJ, XLE, XLB, VHT. Click this link for details (pattern type, start and end dates).
For a list of small patterns (those a few days wide) click this link.
$ $ $
The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.
-- Thomas Bulkowski
© 2024 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 15,028.32 | ||
Weekly S2 | 15,576.30 | 547.97 | |
Monthly S1 | 15,603.05 | 26.75 | |
Weekly S1 | 15,877.03 | 273.99 | |
Monthly Pivot | 16,026.37 | 149.34 | |
Daily S2 | 16,094.84 | 68.47 | |
Daily S1 | 16,136.31 | 41.46 | |
Low | 16,143.34 | 7.03 | Yes! The Low is close to the Daily S1. |
Weekly Pivot | 16,163.37 | 20.03 | |
61.8% Down from Intraday High | 16,177.71 | 14.34 | |
Close | 16,177.77 | 0.06 | Yes! The Close is close to the 61.8% Down from Intraday High. |
Daily Pivot | 16,184.80 | 7.03 | Yes! The Daily Pivot is close to the Close. |
50% Down from Intraday High | 16,188.32 | 3.52 | Yes! The 50% Down from Intraday High is close to the Daily Pivot. |
38.2% Down from Intraday High | 16,198.94 | 10.62 | |
Open | 16,220.11 | 21.17 | |
Daily R1 | 16,226.27 | 6.16 | Yes! The Daily R1 is close to the Open. |
High | 16,233.30 | 7.03 | Yes! The High is close to the Daily R1. |
Daily R2 | 16,274.76 | 41.46 | |
Weekly R1 | 16,464.10 | 189.34 | |
Monthly R1 | 16,601.10 | 136.99 | |
Weekly R2 | 16,750.44 | 149.34 | |
Monthly R2 | 17,024.42 | 273.99 |
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