Weekly Notebooks - Week 44
A brief note on my thoughts and important levels going into next week
Hi friends, thank you for the support and feedback, and I hope you enjoy the notebooks for this week!!
Download Notebook:Â https://bit.ly/3ounv4E
Inside this notebook, you will find a short-term summary of my analysis of the top US indices and US sectors using technical analysis.
My observations from this week:
Another green week for Utilities. Utilities will be testing its upper resistance on Monday open. Breakout or rejection? Overall, there was a structural change three weeks ago in Utilities and now has a bullish appearance with a confluence of technical evidence pointing to further upwards price action.
Materials are continuing to push right up against its all-time high levels. If this upwards momentum continues, Materials might see new all-time highs next week.
Energy’s trend is still in a downwards direction, and I still think we will see a retest of its 2020 lows. There is nothing bullish about the Energy chart.
Other fun facts:
10 of 11 sectors are above their 200-day moving average.
On average, the 11 sectors are 3.63% Month to Date.
On average, the 11 sectors are 0.80% Year to Date.
On average the 11 sectors are 12.32% from their all-time highs.
On average the 11 sectors are 4.07% from their 52-week highs.
Only 6 of 11 sectors are above their 2019 highs.
Only one sector is still below its 2018 lows. Can you guess who? Ha! energy! Ha!
If you have any questions about this notebook, please feel free to contact me on Twitter:Â @granthawkridge
Download Notebook:Â https://bit.ly/3ounv4E
Download Notebook:Â https://bit.ly/3mcTJ2k
Inside this notebook, you will find my significant price levels which in turn provides a base for my bullish, neutral or bearish thesis on the markets for the short-term future. It is worth mentioning these levels are subject to change when the price or any other data changes.
Bottom line: Not much change across the board this week, the bullish thesis continues:
Bullish: 14
Neutral: 9
Bearish: 2
It is worth mentioning again these levels are subject to change when the price/data changes... so yes, tomorrow they might be different!Â
So, if you have a different thesis for the market, please share your ideas in the comment section or get in contact with me on Twitter: @granthawkridge. The stock market always has two sides to the story… buyers and sellers, and it’s okay to switch between the two when the price/data changes.
Download Notebook: https://bit.ly/3mcTJ2k
Some other charts I posted during the week:
In case you missed my monthly notebooks, you can find them here:
Monthly Notebook - A brief note on my longer-term thoughts and important levels going into next month
The Monthly 30’s - A brief note on my thoughts and important levels for the top 30 stocks in the NASDAQ & the Dow Jones Industrial
Stay safe and good luck out there…
GH
P.S. These notebooks I share are a work in progress, so if you have any questions or feedback, please feel free to contact me on Twitter:Â @granthawkridge
DISCLAIMER: The information included in this report are obtained from sources which Jotting on Charts believes to be reliable, but we do not guarantee its accuracy. All of the information contained herein should be independently verified and confirmed. All opinions expressed by Jotting on Charts are for informational purposes only. Jotting on Charts is not a financial advisor, and this does not constitute investment advice nor any opinions expressed, constitute a solicitation of the purchase or sale of any securities or related financial instruments. Jotting on Charts is not responsible for any losses incurred from any use of this information. Do not trade with money you cannot afford to lose. It is recommended that you consult a qualified financial advisor before making any investment decisions.