Chart Breakout Part 5 – Plenty of Stocks to Buy

Russell 1,000 Breaks Higher

I like these ultra-long-term charts (each candlestick equals a year) because they throw into such vivid relief what is happening. We had a spectacular bull run in the late 1980s and 1990s, then a massive two-bear-markets consolidation, followed by a new bull market surge, another bear market/ correction in 2022, and a new chart breakout.

I have to be provisional about this because it is early days in that last 2024 candlestick, which could still stay green and push higher or even turn red and go into reverse. However, shorter-term charts using three and six-month moving averages are bullish and Coppock has turned higher.

The Russell 1,000 index contains the top 1000 shares in the Russell 3000. These are shares in companies suitable for investment by institutions. It accounts for 93pc of the value of all the shares in the Russell 3000. It is encouraging that the chart looks bullish.

Below I look at the charts of some shares I like for both charts and fundamentals. Incidentally, if you notice fewer adjectives and adverbs and a generally leaner and meaner writing style this is because I am using Grammarly, which does not approve of my transports of enthusiasm.