As of 03/27/2024
Indus: 39,760 +477.75 +1.2%
Trans: 16,029 +177.70 +1.1%
Utils: 875 +23.30 +2.7%
Nasdaq: 16,400 +83.82 +0.5%
S&P 500: 5,248 +44.91 +0.9%
|
YTD
+5.5%
+0.8%
-0.8%
+9.2%
+10.0%
|
40,000 or 38,500 by 04/01/2024
16,300 or 15,350 by 04/01/2024
885 or 830 by 04/01/2024
16,600 or 15,200 by 04/01/2024
5,350 or 5,100 by 04/01/2024
|
As of 03/27/2024
Indus: 39,760 +477.75 +1.2%
Trans: 16,029 +177.70 +1.1%
Utils: 875 +23.30 +2.7%
Nasdaq: 16,400 +83.82 +0.5%
S&P 500: 5,248 +44.91 +0.9%
|
YTD
+5.5%
+0.8%
-0.8%
+9.2%
+10.0%
| |
40,000 or 38,500 by 04/01/2024
16,300 or 15,350 by 04/01/2024
885 or 830 by 04/01/2024
16,600 or 15,200 by 04/01/2024
5,350 or 5,100 by 04/01/2024
| ||
Since I post this the night before, check how the futures are trading before market open. Large moves can affect the opening direction.
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The chart shows Ethereum on the daily scale.
After making a strong push higher from the low at A to the peak at B, the cryptocurrency retraced to C. That's what I've expected to see happen in the major indices (Dow industrials, Nasdaq, and so on), but those are stubborn and haven't complied.
The currency has climbed from C to approach what I believe will be a peak at D. The D peak will likely remain below the top at B, so watch for that. After peaking, I expect it to drop, as the green line shows.
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I added a trading lesson to cup with handle patterns. I found price retraces 47% of the time after a breakout, dropping substantially. That's something traders should know. The link will take you there for your viewing pleasure.
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Here's a symbol list of 183 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, AXDX, ACIW, AYI, ADTN, AES, AKAM, ALK, ALGT, AXP, AR, ARCB, ASH, AGO, BAX, BIG, BMRN, BA, BOOT, BRC, CBT, CPB, CLS, CX, CNC, CNP, CNX, CL, ED, CONN, COP, GLW, COTY, CRH, CCK, XRAY, DVN, ^DJU, ^DJI, DRQ, DTE, ELV, WIRE, EQT, EVRG, EVH, XOM, FFIV, FICO, FARO, FDX, FE, FIVN, FLEX, GPN, GFS, THG, HLIT, HELE, HNI, HON, HOV, HUN, IDA, IDXX, ILMN, INFN, ITGR, KALU, KELYA, KSS, LH, LEG, LDOS, LEN, LNC, MGY, MRO, MTRN, MRK, MLKN, MUR, NFG, NEE, NKE, NI, NVDA, OGE, ORI, OMC, OTEX, PANW, PDCO, PTEN, PYPL, PNW, PXD, PLXS, POR, PPL, PSTG, RRC, RLI, RCKY, ROP, R, SLB, SRE, SMTC, SLGN, SMAR, LUV, SWX, SWN, SR, SPSC, SUM, TPR, TGT, TTD, TMO, TJX, TZOO, UHAL, UIS, VMI, VECO, VRTX, VC, WRB, WSO, WEX, WPM, WOLF, IYK, IYE, IEZ, DDM, QTEC, ICF, IHF, SOXX, IGE, IYF, EWO, EWK, ECH, EWH, EIS, EWS, EWP, EWL, THD, EWU, PPA, PBE, PXJ, PJP, PHO, ROBO, XLE, XLK, UNG. 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.
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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, author: Invest for Two-Comma Wealth (Ad)
© 2024 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 15,042.80 | ||
Weekly S2 | 15,709.75 | 666.95 | |
Monthly S1 | 15,721.16 | 11.41 | Yes! The Monthly S1 is close to the Weekly S2. |
Weekly S1 | 16,054.63 | 333.47 | |
Monthly Pivot | 16,130.01 | 75.38 | |
Daily S2 | 16,217.52 | 87.51 | |
Low | 16,279.17 | 61.65 | |
Weekly Pivot | 16,296.75 | 17.58 | |
Daily S1 | 16,308.52 | 11.77 | Yes! The Daily S1 is close to the Weekly Pivot. |
61.8% Down from Intraday High | 16,337.48 | 28.96 | |
50% Down from Intraday High | 16,355.50 | 18.01 | |
Daily Pivot | 16,370.17 | 14.67 | Yes! The Daily Pivot is close to the 50% Down from Intraday High. |
38.2% Down from Intraday High | 16,373.51 | 3.34 | Yes! The 38.2% Down from Intraday High is close to the Daily Pivot. |
Close | 16,399.52 | 26.01 | |
Open | 16,424.76 | 25.24 | |
High | 16,431.82 | 7.06 | Yes! The High is close to the Open. |
Daily R1 | 16,461.17 | 29.35 | |
Daily R2 | 16,522.82 | 61.65 | |
Weekly R1 | 16,641.63 | 118.81 | |
Monthly R1 | 16,808.37 | 166.74 | |
Weekly R2 | 16,883.75 | 75.38 | |
Monthly R2 | 17,217.22 | 333.47 |
This is a picture of the chart pattern indicator on the daily scale. The indicator is the line chart below a chart of the S&P 500 composite.
This is a broken record, but I'm still waiting for the indices to make a big retrace. They are overdue.
The CPI shows a neutral rating. Using the right scale, I'm looking for a retrace back to 288 (about the level of early January).
I'm not saying the retrace has begun. I've been waiting for it for a few months now and it hasn't happened. Plus, I don't know if it'll really drop that far.
The red line is the percentage of stocks at least 20% below their 1-year high (plotted upside down). The blue line is the average percentage drop of stocks below their 1-year high (plotted upside down).
On Tuesday, 25% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).A week ago, it was 25%.The fewest was 22% on 03/21/2024.And the most was 56% on 10/27/2023.
The 514 stocks in my database are down an average of 13% from their yearly high.A week ago, the average was 13%.The peak was 12% on 03/21/2024.And the bottom was 25% on 10/27/2023.
Both lines show no change from a week ago.
The overall trend, however, is upward from the November low.
Unless something changes, I expect the uptrend to continue. Just keep in mind that a retrace can begin at any time.
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Here's a symbol list of 166 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ANF, AES, ALGT, AEL, AXP, AR, AON, AMAT, ARCB, ADM, ASH, BMI, BIG, BIO, BKH, BA, CLS, CX, COR, CVX, CNX, CMTL, CAG, CONN, XRAY, FANG, DRQ, DTE, BOOM, EQT, EVH, XOM, FICO, FARO, FDX, FISV, FIVN, FLEX, FTNT, FCX, GNW, GFS, GL, GPRO, HLIT, HELE, HP, HD, HOV, ILMN, INCY, INFN, ITGR, TILE, JBLU, KLAC, KSS, LRCX, LAMR, LDOS, LEN, RAMP, LPLA, LXU, MTSI, MANH, MKTX, MGEE, MUR, NBR, NFG, NOV, NFLX, NTGR, NJR, NEE, NOVT, NVDA, OXY, OMCL, PKE, PTEN, PYPL, PXD, PFG, PEG, PSTG, QTWO, RRC, RTX, ROP, RGLD, RES, SLB, STR, SMAR, SCCO, LUV, SSYS, SUM, TGT, TDOC, TER, TXN, TTD, RIG, TZOO, TREX, TWLO, UIS, UPS, VECO, WRB, WOLF, ZBRA, IYM, IYE, IEZ, IDU, FTEC, FXI, QQQ, IYH, IYZ, IXC, MXI, IXN, IEO, EWA, EWK, ECH, EWG, EZA, QLD, SSO, ROBO, XLE, XLK, XLU, UNG, SMH, MGK, VONG. 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.
-- Thomas Bulkowski, author: Invest for Two-Comma Wealth (Ad)
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I show another slider trading quiz featuring ascending broadening wedges.
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Here's a symbol list of 131 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, A, ALL, DOX, AEP, AME, AMN, APH, ATR, ARW, ATO, ADP, BMI, BAX, BIIB, BKH, BKNG, BFH, BR, BBW, CPB, CX, CENX, CRL, CHKP, CHD, CNX, CL, COTY, XRAY, FANG, DFS, DSGR, DRQ, EBAY, ECL, EIX, EL, EVRG, EXPI, XOM, FARO, FDX, FISV, FIVN, FLEX, FTV, FNV, IT, GMS, GPRO, HE, HQY, HP, HWM, HUM, JBHT, ITW, ILMN, INFN, IIIN, ITGR, IPAR, IPG, JBLU, KALU, KFRC, LHX, LANC, MHO, MRCY, MGEE, MCO, MS, MUR, NJR, NEU, NKE, NVDA, OMC, OMI, PKG, PKE, PTEN, PEN, PXD, PSTG, RL, RRC, RJF, RGS, RHI, ROST, CRM, SBH, SEE, SKYW, SCCO, SWN, SXI, TGT, TFX, TTD, TKR, TJX, TZOO, TREX, VRSN, WAT, WERN, ZBRA, IYC, IGE, EWO, EWK, EWH, THD, PPA, DBA, 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.
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The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.
-- Thomas Bulkowski, author: Invest for Two-Comma Wealth (Ad)
© 2024 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 37,629.95 | ||
Weekly S2 | 38,192.90 | 562.95 | |
Monthly S1 | 38,471.80 | 278.90 | |
Weekly S1 | 38,753.27 | 281.47 | |
Monthly Pivot | 39,180.42 | 427.15 | |
Daily S2 | 39,212.47 | 32.05 | |
Daily S1 | 39,263.05 | 50.58 | |
Low | 39,296.03 | 32.98 | |
Close | 39,313.64 | 17.61 | |
Weekly Pivot | 39,321.16 | 7.52 | Yes! The Weekly Pivot is close to the Close. |
Daily Pivot | 39,346.61 | 25.45 | |
61.8% Down from Intraday High | 39,347.27 | 0.66 | Yes! The 61.8% Down from Intraday High is close to the Daily Pivot. |
50% Down from Intraday High | 39,363.10 | 15.83 | |
38.2% Down from Intraday High | 39,378.93 | 15.83 | |
Daily R1 | 39,397.20 | 18.27 | |
Open | 39,410.54 | 13.34 | Yes! The Open is close to the Daily R1. |
High | 39,430.17 | 19.63 | |
Daily R2 | 39,480.75 | 50.58 | |
Weekly R1 | 39,881.53 | 400.78 | |
Monthly R1 | 40,022.27 | 140.73 | |
Weekly R2 | 40,449.42 | 427.16 | |
Monthly R2 | 40,730.89 | 281.47 |
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