As of 05/02/2024   Indus: 38,226 +322.37 +0.9%     Trans: 15,235 +369.97 +2.5%     Utils: 908 +4.50 +0.5%     Nasdaq: 15,841 +235.48 +1.5%     S&P 500: 5,064 +45.81 +0.9%	YTD  +1.4%   -4.2%    +3.0%    +5.5%    +6.2%	Targets    Overview: 04/29/2024     39,325 or 37,000 by 05/15/2024   15,820 or 14,600 by 05/15/2024   925 or 865 by 05/15/2024   16,700 or 15,200 by 05/15/2024   5,250 or 4,850 by 05/15/2024
Chart Pattern Indicator: on 5/2/24

As of 05/02/2024   Indus: 38,226 +322.37 +0.9%     Trans: 15,235 +369.97 +2.5%     Utils: 908 +4.50 +0.5%     Nasdaq: 15,841 +235.48 +1.5%     S&P 500: 5,064 +45.81 +0.9%	YTD  +1.4%   -4.2%    +3.0%    +5.5%    +6.2%
Targets    Overview: 04/29/2024     39,325 or 37,000 by 05/15/2024   15,820 or 14,600 by 05/15/2024   925 or 865 by 05/15/2024   16,700 or 15,200 by 05/15/2024   5,250 or 4,850 by 05/15/2024
Chart Pattern Indicator: on 5/2/24

Recent Headlines Friday 5/3/24. Pattern Trading Setups for the Weekend. Thursday 5/2/24. Intraday Market Direction: Nasdaq Wednesday 5/1/24. Market Forecast Update Tuesday 4/30/24. Slider Trading Quiz!Head-and-Shoulders, Complex Tops Monday 4/29/24. Market Monday: The Week Ahead

Older Headlines Friday 4/26/24. Pattern Trading Setups for the Weekend. Thursday 4/25/24. Cryptocurrency: Ethereum (ETH-USD) Wednesday 4/24/24. A Look at the Chart Pattern Indicator (CPI) Tuesday 4/23/24. Slider Trading Quiz! Head-and-Shoulders, Complex Bottoms Monday 4/22/24. Market Monday: The Week Ahead Friday 4/19/24. Pattern Trading Setups for the Weekend. Thursday 4/18/24. Intraday Market Direction: Nasdaq Wednesday 4/17/24. A Look at the Chart Pattern Indicator (CPI) Tuesday 4/16/24. Slider Trading Quiz! Eve & Eve Double Top Monday 4/15/24. Market Monday: The Week Ahead Saturday Supplement 4/12/24. Invest for Two-Comma Wealth Available Now. Friday 4/12/24. Pattern Trading Setups for the Weekend.

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Friday 5/3/24. Pattern Trading Setups for the Weekend.

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Here's a symbol list of 164 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ADTN, AEIS, AES, A, AKAM, ALK, ALB, ALGT, ALL, AEE, AEO, AFG, AIG, AME, AON, APA, ARW, AVNT, AZTA, BAX, BZH, BERY, BIIB, BMY, BRKR, BLDR, CDAY, CF, CIEN, CI, CSCO, CLX, CGNX, CSGP, CCK, CSGS, XRAY, EXP, EBAY, ECL, EIX, EME, EZPW, FARO, FIS, FIVN, FORM, GPS, GNW, GPN, HLIT, HE, HP, HSIC, HOV, HWM, HUM, JBHT, IDXX, ILMN, INCY, IBP, TILE, IPI, IRM, K, KEYS, KLAC, LH, LLY, LNC, LMT, MTSI, M, MKTX, MA, MTRN, MTRX, MRK, META, MGEE, MCO, MYGN, NTGR, NTAP, NEE, NKE, NVDA, OXY, OLN, OMC, ON, OUT, PTEN, PAYX, PEG, PHM, QCOM, RTX, REGN, RGA, ROL, ROP, R, SBH, SMTC, SCI, TDC, TER, TTD, TMO, TOL, TRV, TWLO, UPS, VFC, VMI, VECO, MDRX, VRSN, V, WAT, WERN, WU, WOLF, WWW, ZBRA, ITA, IEZ, IHE, FXI, BOTZ, SOXX, SLV, EWO, EWK, EWZ, EWH, EWJ, EWM, EZA, TUR, DBA, PJP, XLF, USO, SMH. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

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You can find setups based on a Fibonacci retrace by clicking on the link.

The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.

In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.

For details about the chart patterns, click here.

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and Training "Miles" (#Ad)

Thursday 5/2/24. Intraday Market Direction: Nasdaq

Since I post this the night before, check how the futures are trading before market open. Large moves can affect the opening direction.

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I show a picture of the Nasdaq composite on the 5-minute scale.

A triple top appeared earlier in the week. It's hard to see the three peaks on this chart, but I've identified their location. After the pattern confirmed (meaning price closed below the lowest valley between the three peaks), the Nasdaq dropped substantially.

Today (Wednesday), at A, the index responded to the FED meeting. It climbed to A and then plummeted. That's about 300 points in about a half hour. I'd like to suggest that the strength of the decline suggests price will gap open lower on Thursday or just continue down, but there could be a snap-back rally. I don't know which way it'll go.

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Here's a symbol list of 191 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AEIS, AMD, AES, AFL, A, ALB, ALGT, DOX, AEE, AEO, AEP, AFG, AMWD, APA, AMAT, ARCB, ANET, AWI, ASH, ADP, AVNT, AVA, AZTA, BZH, BFH, BLDR, CALM, COR, CENX, CDAY, CF, CIEN, CNX, CGNX, GLW, CSGP, CROX, CTS, DVN, DRQ, DUK, EXP, ECL, EIX, EME, EQT, EL, EVH, EXC, FIS, FE, FLEX, FORM, FTNT, FWRD, GPN, GFS, HE, HP, HSIC, HON, HOV, HUM, IDXX, ILMN, INFN, IBP, IPI, JKHY, JNJ, KMT, KLAC, LRCX, LEG, MTSI, M, MANH, MA, MTDR, MTRN, MRCY, MGEE, MUR, MYGN, NTGR, NTAP, NEE, NKE, NOVT, NTNX, NVDA, OXY, ON, OUT, OMI, PCG, PNW, PLXS, PPG, PRU, PHM, PSTG, QCOM, RGA, RCKY, ROL, R, SLB, SMG, SRE, SMTC, SHOP, SO, SWN, SNPS, TECH, TDY, TER, TTD, TMO, TOL, TZOO, TWLO, UIS, UNM, VFC, VECO, MDRX, V, VC, WAT, WU, WLK, WOLF, WDAY, ZBRA, IYC, IYE, FTEC, QTEC, FXL, FXI, BOTZ, IYH, MXI, ILF, SOXX, EWO, EWK, EWG, EWI, EWJ, EZA, EWP, EWL, EWT, QLD, DBA, PBE, PXJ, XLY, XLE, XLF, GLD, XLB, XRT, USO, SMH, VHT, VAW. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

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The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and Training "Miles" (#Ad)

Wednesday 5/1/24. Market Forecast Update

Here's the updated 2024 market forecast, presented in slider format.

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Here's a symbol list of 202 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ANF, ACIW, AEIS, AMD, AES, A, ALRM, ALB, ALGT, DOX, AEO, AEL, AMWD, AMAT, ARCB, ACGL, ADM, ANET, AVA, AZTA, BCPC, BZH, BKH, BRKR, BLDR, CALM, CX, CDAY, CF, CIEN, CI, CINF, CTAS, CGNX, GLW, CSGP, CROX, CCRN, CTS, CW, ^DJI, EXP, ECL, EIX, ELV, EME, WIRE, EQT, EZPW, FFIV, FARO, FIS, FORM, FTV, FWRD, FDP, GFS, GMS, GOOGL, GGG, HE, HQY, HL, HSIC, HON, HOV, HUM, HURC, IDXX, ITW, ILMN, IBP, IBKR, JKHY, JNJ, KELYA, KMT, KLAC, KLIC, LRCX, LDOS, LEN, LLY, LPLA, LXU, MTSI, MGY, MRO, MCHX, MRK, MLKN, MUR, ^IXIC, NOV, NFLX, NTAP, NJR, NOVT, NUS, NTNX, NVDA, OXY, OGE, ON, OUT, OMI, PINC, PHM, PSTG, QCOM, RMBS, RRC, RNG, RCKY, ROL, R, SIGI, SMTC, SHW, SKYW, SWN, SR, SSYS, SUM, SRDX, SNPS, TER, TTD, TMO, TKR, TOL, RIG, TZOO, TREX, TWLO, UNH, VECO, VMC, WAT, WMB, WOLF, WWW, WWD, WDAY, ZBRA, ITA, IYM, IYC, IHE, FTEC, FDN, QTEC, FXL, BOTZ, QQQ, IHF, IAT, IXN, SOXX, SLV, IGE, IEO, ITB, EWO, EWK, ECH, EWJ, EWW, EZA, EWT, QLD, DBA, SSO, ROBO, XLY, GLD, XHB, XLK, SMH, VIS, MGK, VONG. Click this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and Training "Miles" (#Ad)

 

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