|
|
Bulkowski's Blog Archive: ^DJT
|
As of 01/26/2021
Indus: 30,937 -22.96 -0.1%
Trans: 12,643 -206.55 -1.6%
Utils: 864 -7.76 -0.9%
Nasdaq: 13,626 -9.93 -0.1%
S&P 500: 3,850 -5.74 -0.1%
|
YTD
+1.1%
+1.1%
0.0%
+5.7%
+2.5%
|
 32,000 or 29,600 by 02/01/2021
13,500 or 12,300 by 02/01/2021
890 or 800 by 02/01/2021
13,750 or 12,700 by 02/01/2021
3,900 or 3,625 by 02/01/2021
|
|
As of 01/26/2021
Indus: 30,937 -22.96 -0.1%
Trans: 12,643 -206.55 -1.6%
Utils: 864 -7.76 -0.9%
Nasdaq: 13,626 -9.93 -0.1%
S&P 500: 3,850 -5.74 -0.1%
|
YTD
+1.1%
+1.1%
0.0%
+5.7%
+2.5%
|
32,000 or 29,600 by 02/01/2021
13,500 or 12,300 by 02/01/2021
890 or 800 by 02/01/2021
13,750 or 12,700 by 02/01/2021
3,900 or 3,625 by 02/01/2021
|
|
|
|
Written by and copyright © 2005-2021 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions.
See Privacy/Disclaimer for more information. Some pattern names are the registered trademarks of their respective owners.
Blog Posting: February 7, 2008, Transports: Descending Broadening Wedge (^DJT)
The chart shows the Dow transports on the weekly scale with two red lines outlining a descending broadening wedge. A full 79% of stocks
showing a descending broadening wedge breakout upward, so maybe there is hope for the transports after all. If the breakout is upward, then the target price would be the top
of the wedge, or about 5,000.
Another possibility is that the transports will do a partial decline after touching the top trendline. In that pattern, price drops, curls around, and then busts
out the top of the pattern.
A descending broadening wedge has a partial decline 62% of the time and it correctly predicts an upward breakout 87% of the time in a bull market.
Aftermath
The transport average decided to do the partial decline thing. That occurred at A when price dropped down from the top trendline but did not come close
to the lower trendline before reversing direction and punching through the top trendline. A breakout occurred when price closed above the top trendline at B.
-- Thomas Bulkowski
Written by and copyright © 2005-2021 by Thomas N. Bulkowski. All rights reserved. Disclaimer: You alone are responsible for your investment decisions.
See Privacy/Disclaimer for more information. Some pattern names are the registered trademarks of their respective owners.
Elvis Virus: Your computer gets fat, slow, and lazy, then self destructs, only to resurface at shopping malls and service stations across rural America.
|
|
If you buy ANYTHING, they pay for the referral. My books...
on 