Power Chart TV: What’s coming next? Will the strength continue in early 2024? | Wyckoff power chart

Buying peaks usually conclude with a long-term uptrend. The rally phase following the October 2023 low will have these climactic characteristics. These developments come after a major trend began in late 2022. The steady upward march in the fourth quarter of 2023 has been widespread and powerful, generating a lot of enthusiasm among the public. Magnificent-7 growth stocks set the pace and dominated the performance of major stock indices. As 2024 began, the rise of many stocks stopped, especially ‘Mag-7’, which was mostly on its own in January and February of the new year. Does the narrowing breadth and focus towards ‘Mag-7’ stocks signal a warning of a trend reversal?

Swing Trading Points and Figures Study Indicates Completion of Upward Price Targets. Could this mean fuel tanks are almost empty, which is driving up prices? So what will be the fate of stock indices in 2024 and beyond? In the latest episode of Power Charting, we look at PnF count targets and decreasing width characteristics with these questions in mind. We also refer to 10-year seasonal patterns for price trends beyond 2024.

Wyckoff’s study of the first three years of this decade provides perspective on the decennial perspective. We take a look.

All are the best,

bruce

@rdwyckoff

disclaimer: This blog is for educational purposes only and should not be construed as financial advice. You should not use any of our ideas and strategies without first evaluating your personal and financial situation or consulting a financial professional.

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