The Dow @ ATHs!

A brief note on my thoughts and important levels of the Dow Jones Industrial.

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The Dow has blue skies ahead!

Yes, you heard me right, the Dow is at fresh ALL-TIME HIGHS!

We haven’t had the chance to say that since January 2022…

That was 485 trading days ago… or 707 calendar days.

But, there are still people out there making the call that we are still in the bear market… there is nothing bearish about ALL-TIME HIGHS.

That was a two-year correction/bear market…

That market environment has now finished!

This is now full steam ahead bull market behavior!

Let’s take a look at the Dow Jones Industrial at these fresh highs:

Now, that’s a big base… that is breaking out!

I repeat… This is bullish for the overall market!

We just sat through the 12th longest wait for a new ATH with the data going back to 1900

Let’s now dig into some data:

The average dow stock is up 11.9% year to date

2 / 30 stocks at fresh all-time highs

The average dow stock is 20.4% from its all-time highs

5 / 30 stocks at new 52-week highs

The average dow stock is 7.4% from its 52-week highs

Let’s now look at each component of the dow:

Salesforce (CRM)

CRM has broken out higher of a bearish to bullish base.

Intel (INTC)

If INTC can stay above this crucial level, the bulls are in control, and the path of least resistance is higher.

Microsoft (MSFT)

The bulls are in control of MSFT after breaking out of a 2-year base, which is now only 2% below its ATHs.

Apple (AAPL)

Apple is at fresh ATHs and is looking ready to break out higher out of a base-on-base pattern.

Boeing (BA)

BA has broken out higher from a bearish to bullish reversal pattern.

Visa (V)

Visa is another stock at fresh ATHs after a 3-year consolidation period.

JPMorgan Chase & Co. (JPM)

JPM is at fresh 52-week highs as it moves away from its bearish to bullish pattern.

American Express (AXP)

AXP has broken its 2-year downwards sloping trend line.

International Business Machines (IBM)

IBM is at its highest level since 2017 and has completed a bearish to bullish reversal pattern.

McDonald's (MCD)

McDonald’s is now targeting its ATHs from early in the year.

Caterpillar (CAT)

If CAT is above 267, the bulls are in control of this stock.

Home Depot (HD)

Home Depot has reclaimed a key level of interest, and the bulls are now looking towards its ATHs from 2021.

Walmart (WMT)

WMT is looking to post a failed breakdown. Bulls are in control of this stock if it’s above 154.

AMGEN (AMGN)

AMGN is moving toward its ATHs from 2022.

Walt Disney (DIS)

Walt Disney found support at its COVID lows this October. Bull would like to see this stock above 130.

Goldman Sachs (GS)

GS is in a holding pattern above its 2018 highs. If the stock can break above the 161.8% Fibonacci level, the path of least resistance will be higher towards its ATHs from 2021.

Cisco Systems (CSCO)

Cisco Systems has been trading sideways rage since 2019. On a positive note, the stock has posted higher lowers over the past 18 months.

Dow (DOW)

Dow is in danger of going lower if it can not reclaim the 53 level.

Nike (NKE)

Nike is in the process of completing a 2-year bearish to bullish pattern.

UnitedHealth (UNH)

UHN has been consolidating for the past two years. The bulls are looking for a breakout to fresh ATHs in the coming weeks.

Travelers Companies (TRV)

TRV is in the same boat as UHN.

Procter & Gamble (PG)

PG has been a mess for the past two years. The stock is currently looking at reclaiming its 61.8% Fibonacci level.

Merck & Co (MRK)

Above 105, the bulls are in control of MRK

Honeywell International (HON)

HON is still building its consolidation pattern. This pattern is still in play if it can hold above its pre-COVID highs.

Coca-Cola (KO)

Can the bull drive Coca-Cola back above its pre-COVID highs around 60?

Verizon Communications (VZ)

One of the worst stocks in the DOW. VZ has lots of overhead resistance.

Johnson & Johnson (JNJ)

Johnson & Johnson has been in a sideways range since 2021. The stock is trying to hold above its pre-COVID highs, but it doesn’t look great, posting lower highs and lower lows for the past two years.

3M (MMM)

3M is another stock that has a massive amount of overhead resistance.

Chevron (CVX)

Chevron has been stuck within a two-year sideways range. Currently, it is testing the lower bounds. A break below 140, the path of least resistance is lower for CVX.

Walgreens Boots Alliance (WBA)

Lucky last… the worst stock in the Dow goes to WBA. This is one of the ugliest charts out there… I have nothing more to say about it.

My question to you… What information did you get out of my charts?

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As always, stay safe and good luck out there…

Please reach out with any other questions…

GH

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