As of 03/28/2024
Indus: 39,807 +47.29 +0.1%
Trans: 16,212 +183.07 +1.1%
Utils: 882 +7.51 +0.9%
Nasdaq: 16,379 -20.06 -0.1%
S&P 500: 5,254 +5.86 +0.1%
|
YTD
+5.6%
+2.0%
+0.1%
+9.1%
+10.2%
|
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 03/28/2024
Indus: 39,807 +47.29 +0.1%
Trans: 16,212 +183.07 +1.1%
Utils: 882 +7.51 +0.9%
Nasdaq: 16,379 -20.06 -0.1%
S&P 500: 5,254 +5.86 +0.1%
|
YTD
+5.6%
+2.0%
+0.1%
+9.1%
+10.2%
| |
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
| ||
Here's the updated 2024 market forecast, presented in slider format.
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 | 39,646 | 39,727 | 39,798 | 39,878 | 39,949 |
Weekly | 38,357 | 39,082 | 39,486 | 40,211 | 40,614 |
Monthly | 37,795 | 38,801 | 39,345 | 40,351 | 40,895 |
S&P500 (^GSPC): Daily | 5,236 | 5,245 | 5,255 | 5,264 | 5,274 |
Weekly | 5,086 | 5,170 | 5,216 | 5,300 | 5,345 |
Monthly | 4,839 | 5,047 | 5,154 | 5,362 | 5,469 |
Nasdaq (^IXIC): Daily | 16,309 | 16,344 | 16,383 | 16,418 | 16,456 |
Weekly | 15,703 | 16,041 | 16,290 | 16,628 | 16,877 |
Monthly | 15,036 | 15,708 | 16,123 | 16,795 | 17,211 |
Here are the formulas:
Earnings season is over.
Here's a symbol list of 158 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AES, A, ALK, ALGT, AMED, AEL, ANIK, AR, APA, ARCB, ARW, ASH, AIZ, ATO, ADSK, AVA, BECN, BZH, BERY, BIG, BA, BAH, BRC, BCO, CPB, CLS, COR, CLF, CNA, CNX, CAG, CONN, XRAY, DVN, DSGR, EIX, EOG, EQT, EG, EXC, EXPD, XOM, FICO, FARO, FDX, FIS, FE, FIVN, FLEX, FCX, GME, IT, GIS, GGG, HBI, THG, HLIT, HP, HOV, ILMN, IPI, JNJ, KBH, K, KSS, LZB, LEG, LEN, L, MHO, MRO, MDC, MLKN, MUR, NFG, NEU, NEE, NI, NOC, NUS, PDCO, PTEN, PAYX, PCTY, PFE, PCG, PXD, PPL, PFG, PGR, PSTG, DGX, RGS, ROP, R, SAND, SHW, SLGN, SKX, SMAR, SCCO, SWN, SCS, SUM, SRDX, TGT, TDOC, TDC, TTD, TDG, RIG, TRV, TZOO, TG, UIS, VFC, WRB, WPM, WSC, WOLF, IAI, IYK, IYE, ITB, IEZ, IHE, IAT, IGE, IYF, ECH, EWW, EWD, EWL, EWU, IBB, PXJ, GLD, UNG, 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 below industries were the best (rank 1) or worst performing of those I follow.
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-- Thomas Bulkowski, author: Invest for Two-Comma Wealth (Ad)
I need some social media buzz, and I'm hoping you can provide it.
My latest book (Invest for Two-Comma Wealth, pictured on the right) is self-published (does not use a traditional publisher) and struggling to reach its intended audience. Here's how you can help.
If you have a blog or use social media such as X/twitter or meta/facebook, could you post a note saying the book is available?
Maybe say something like, "Thomas Bulkowski has released a new book titled, Invest for Two-Comma wealth. It's an entry-level yet comprehensive book about investing in the securities markets to grow your net worth. It's available for $20 at Amazon.com."
If you want to say more about the book, you can visit Amazon.com's detail page here and use the text and book image.
If you do post a note, then let me know at
Thanks!
$ $ $
Here's a symbol list of 158 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AES, A, ALK, ALGT, AMED, AEL, ANIK, AR, APA, ARCB, ARW, ASH, AIZ, ATO, ADSK, AVA, BECN, BZH, BERY, BIG, BA, BAH, BRC, BCO, CPB, CLS, COR, CLF, CNA, CNX, CAG, CONN, XRAY, DVN, DSGR, EIX, EOG, EQT, EG, EXC, EXPD, XOM, FICO, FARO, FDX, FIS, FE, FIVN, FLEX, FCX, GME, IT, GIS, GGG, HBI, THG, HLIT, HP, HOV, ILMN, IPI, JNJ, KBH, K, KSS, LZB, LEG, LEN, L, MHO, MRO, MDC, MLKN, MUR, NFG, NEU, NEE, NI, NOC, NUS, PDCO, PTEN, PAYX, PCTY, PFE, PCG, PXD, PPL, PFG, PGR, PSTG, DGX, RGS, ROP, R, SAND, SHW, SLGN, SKX, SMAR, SCCO, SWN, SCS, SUM, SRDX, TGT, TDOC, TDC, TTD, TDG, RIG, TRV, TZOO, TG, UIS, VFC, WRB, WPM, WSC, WOLF, IAI, IYK, IYE, ITB, IEZ, IHE, IAT, IGE, IYF, ECH, EWW, EWD, EWL, EWU, IBB, PXJ, GLD, UNG, 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.
-- Thomas Bulkowski
Since I post this the night before, check how the futures are trading before market open. Large moves can affect the opening direction.
$ $ $
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.
$ $ $
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.
$ $ $
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.
$ $ $
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 |
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