Bulkowski's Blog: ThePatternSite.com
As of 11/26/2021
  Indus: 34,899 -905.04 -2.5%  
  Trans: 16,216 -610.57 -3.6%  
  Utils: 907 -15.90 -1.7%  
  Nasdaq: 15,492 -353.57 -2.2%  
  S&P 500: 4,595 -106.84 -2.3%  
YTD
 +14.0%  
 +29.7%  
 +4.9%  
 +20.2%  
 +22.3%  
  Targets    Overview: 11/12/2021  
  Up arrow38,000 or 35,000 by 12/01/2021
  Up arrow17,700 or 16,000 by 12/01/2021
  Up arrow935 or 890 by 12/01/2021
  Up arrow16,400 or 15,350 by 12/01/2021
  Up arrow4,850 or 4,560 by 12/01/2021
CPI (updated daily): Arrows on 11/17/21
As of 11/26/2021
  Indus: 34,899 -905.04 -2.5%  
  Trans: 16,216 -610.57 -3.6%  
  Utils: 907 -15.90 -1.7%  
  Nasdaq: 15,492 -353.57 -2.2%  
  S&P 500: 4,595 -106.84 -2.3%  
YTD
 +14.0%  
 +29.7%  
 +4.9%  
 +20.2%  
 +22.3%  
  Targets    Overview: 11/12/2021  
  Up arrow38,000 or 35,000 by 12/01/2021
  Up arrow17,700 or 16,000 by 12/01/2021
  Up arrow935 or 890 by 12/01/2021
  Up arrow16,400 or 15,350 by 12/01/2021
  Up arrow4,850 or 4,560 by 12/01/2021
CPI (updated daily): Arrows on 11/17/21

 

August 2021 Headlines

Archives


Tuesday 8/31/21. Slider Trading Quiz!

The index dropped by -0.2% or -55.96 points. Since 10/01/1928 the index made 1223 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 617 occasions.
     Average loss was -0.6% on 606 occasions.
Expect the index to close higher 50.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 229/407 or 56.3% of the time.
     The prediction of the index closing lower has been right 42/89 or 47.2% of the time.

$ $ $

I show another slider trading quiz featuring Rockwell Collins (COL).

$ $ $

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: ABT, AYI, ALK, ADS, AYX, AMZN, AIG, AMWD, APH, AAPL, AMAT, ATR, AWI, AGO, ADSK, AXS, BCPC, BSET, BECN, BZH, BIO, BAH, BG, CDNS, CRL, CLF, CNA, CGNX, CMTL, CLR, CTS, DVN, DFS, DRQ, EMN, EL, XOM, FAST, FDX, FOE, FLS, FORM, FTNT, FDP, FRD, GPN, GL, GPRO, EVRG, THG, HLIT, HSC, HIG, HSII, HNI, HD, HURC, IDXX, INOV, IIIN, JCOM, JBLU, LNC, LOW, M, MANH, MCHX, MTRX, MLHR, ^IXIC, NCR, NI, NOC, NUS, OGE, ASGN, OTEX, OUT, PANW, PYPL, PICO, PINC, PGR, PHM, QCOM, RMBS, RJF, RNG, ^GSPC, SLB, SCHW, SMG, LUV, SCS, SUM, SRDX, TPR, TECH, TXT, RIG, TZOO, TG, TREX, UNM, VMI, VC, WRB, WEX, WWW, ITA, IAI, IEZ, FTEC, QTEC, FXL, IAT, IYF, EWC, EIS, EWM, EWS, EWT, THD, EWU, QLD, PPA, PBE, PEJ, QQQ, IEV, IXC, IXN, SSO, XLY, XLF, XLI, SPY, XLK, VIS, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2021 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  34,299.49    
 Monthly S1  34,849.66  550.18   
 Weekly S2  35,013.81  164.15   
 Weekly S1  35,206.83  193.02   
 Monthly Pivot  35,240.43  33.60   
 Daily S2  35,292.09  51.66   
 Daily S1  35,345.96  53.88   
 Weekly Pivot  35,353.98  8.02   Yes! The Weekly Pivot is close to the Daily S1.
 Low  35,374.46  20.48   
 Close  35,399.84  25.38   
 61.8% Down from Intraday High  35,426.51  26.67   
 Daily Pivot  35,428.34  1.83   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  35,442.59  14.25   
 38.2% Down from Intraday High  35,458.66  16.08   
 Open  35,471.80  13.14   Yes! The Open is close to the 38.2% Down from Intraday High.
 Daily R1  35,482.21  10.41   Yes! The Daily R1 is close to the Open.
 High  35,510.71  28.50   
 Weekly R1  35,547.00  36.29   
 Daily R2  35,564.59  17.59   
 Weekly R2  35,694.15  129.57   
 Monthly R1  35,790.60  96.45   
 Monthly R2  36,181.37  390.77   

Monday 8/30/21. Market Monday: The Week Ahead

My Prediction

Picture of the Dow transports on the daily scale.

The Dow transports appear in the chart on the daily scale.

Unlike the Dow industrials, the transports have had a more difficult time since May. The Dow moved sideways to down until mid June. The transports bottomed out in mid July and the drop was steeper.

A symmetrical triangle appears outlined in red. It acts as a reversal of the downward trend. Price broke out upward and threw back to the top red trendline before resuming the uptrend.

Now, we see the index climbing with the other indices.

Will the uptrend last? I think it will (fingers crossed because the weakest month of the year is days away). Reversals can be more powerful than continuation breakouts and I'm thinking this is one of those cases. So I'm looking for the uptrend to be long and prosperous.

Beam me up, Scotty.


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A Brief Look Back

Picture of a mushroom from my garden.

The following is a brief review of how the markets performed over time. The numbers refer to the close-to-close move in the Dow industrials.

Monday: Up 215.63 points.
Tuesday: Up 30.55 points.
Wednesday: Up 39.24 points.
Thursday: Down 192.38 points.
Friday: Up 242.68 points.

For the Week...

The Dow industrials were up 335.72 points or 1.0%.
The Nasdaq composite was up 414.84 points or 2.8%.
The S&P 500 index was up 67.7 points or 1.5%.

Year to Date...

Dow Industrials
     0.5% down from the high of 35,631.19 on 08/16/2021.
     18.8% up from the low of 29,856.30 on 01/29/2021.
Nasdaq
     0.1% down from the high of 15,144.48 on 08/27/2021.
     22.0% up from the low of 12,397.05 on 03/05/2021.
S&P 500
     0.1% down from the high of 4,513.33 on 08/27/2021.
     23.1% up from the low of 3,662.71 on 01/04/2021.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  35,141  35,298  35,389  35,546  35,637 
Weekly  35,032  35,244  35,373  35,584  35,713 
Monthly  34,318  34,887  35,259  35,828  36,200 
S&P500 (^GSPC): Daily  4,460  4,485  4,499  4,524  4,538 
Weekly  4,428  4,469  4,491  4,532  4,554 
Monthly  4,318  4,414  4,463  4,559  4,609 
Nasdaq (^IXIC): Daily  14,902  15,016  15,080  15,194  15,258 
Weekly  14,649  14,889  15,017  15,257  15,384 
Monthly  14,178  14,654  14,899  15,375  15,620 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season is either underway or should be starting soon. The sessions could be more volatile.

Here's a symbol list of 125 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AYI, ALRM, ALKS, AYX, DOX, AXP, AMWD, AMAT, AIZ, AGO, ADSK, AVNT, AXS, BCPC, BECN, BZH, BIG, EPAY, BRC, BLDR, CBT, COG, CLS, CRL, CTXS, CGNX, CLR, CTS, CW, DECK, DVN, D, DRQ, EMN, EOG, EVH, FCX, FRD, GIS, GNW, GGG, EVRG, THG, HQY, HP, HON, HOV, HURC, IBP, IIIN, IBKR, TILE, KBAL, LHX, MHO, MANH, MCHX, MTRN, MTRX, MU, NBR, NFG, NCR, NTGR, NWPX, OLN, OMCL, ASGN, OUT, PATK, PNW, RMBS, RLI, ROK, SMG, SEIC, SIGI, SMTC, SCCO, SCS, SSYS, SRDX, TFX, TPX, TDC, TMO, RIG, TG, SLCA, UNM, WDAY, ITA, IYK, FTEC, BOTZ, IHF, EIS, EWI, EWM, EWD, THD, QLD, QQQ, IXN, MXI, XLI, XAR, UNG, USO, VIS. Clink this link for details (pattern type, start and end dates).

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

The below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Shoe1. Retail (Special Lines)
2. Retail (Special Lines)2. Shoe
3. Homebuilding3. Human Resources
4. Retail Store4. Retail Store
5. Precision Instrument5. Insurance (Diversified)
6. Human Resources6. Furn/Home Furnishings
7. Medical Supplies7. Precision Instrument
8. E-Commerce8. Advertising
9. Information Services9. Medical Supplies
10. IT Services10. Securities Brokerage
Best Performing AboveWorst Performing Below
50. Metals and Mining (Div.)50. Household Products
51. Food Processing51. Petroleum (Integrated)
52. Investment Co. (Foreign)52. Chemical (Basic)
53. Household Products53. Semiconductor
54. Healthcare Information54. Telecom. Equipment
55. Metal Fabricating55. Investment Co. (Foreign)
56. Natural Gas (Distributor)56. Semiconductor Cap Equip.
57. Petroleum (Integrated)57. Chemical (Specialty)
58. Chemical (Specialty)58. Healthcare Information
59. Short ETFs59. Short ETFs
60. Oilfield Svcs/Equipment60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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Friday 8/27/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 131 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AYI, AMD, AFL, APD, ALL, AYX, AMZN, AFG, AIG, AMWD, AAPL, ACGL, AIZ, BECN, BZH, BMRN, BBW, BG, CDNS, CALM, CPB, CX, CENX, CRL, CHD, CINF, CNO, CGNX, CL, CMTL, CLR, GLW, COST, COTY, CRH, CCK, DVN, ^DJI, DUK, EMN, WIRE, EXC, FDS, FICO, FE, FMC, GIS, GNW, GPN, GL, HBI, THG, HURC, IDXX, INCY, INFN, NSP, IIIN, INTC, IPI, KALU, K, KBAL, LZB, LH, LLY, LNC, L, MANH, MAN, MRTN, MTRX, MLHR, MLI, NFG, NCR, NTAP, NKE, NI, JWN, OMC, OUT, OMI, OXM, PATK, PAYX, PYPL, PICO, PLXS, POR, PFG, PRU, ROG, SAIA, CRM, SCHW, SWX, SR, SSYS, TDC, TSCO, UGI, UNM, VMI, WRB, WAT, WSO, WU, WSM, ZBRA, IYC, IHE, DDM, FDN, IAT, IYF, EWC, ECH, EWM, TUR, PJP, XLU. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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.

There were 17 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 3.0%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 8 bullish chart patterns this week and 0 bearish ones with any remaining (9) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bullish (up) turn.

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

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
AYIUgly double bottom      07/19/202108/20/2021Furn/Home Furnishings
AMNTriangle, ascending      08/06/202108/26/2021Human Resources
BERYHead-and-shoulders bottom      07/23/202108/23/2021Packaging and Container
CBTDiamond bottom      07/19/202108/26/2021Chemical (Diversified)
CACIFlag      08/18/202108/26/2021IT Services
CHSBroadening bottom      07/23/202108/24/2021Apparel
CLNEBroadening bottom      07/19/202108/20/2021Natural Gas (Distributor)
CRHUgly double bottom      07/19/202108/20/2021Cement and Aggregates
DVNHorn bottom      08/02/202108/16/2021Natural Gas (Diversified)
FRDDouble Top, Eve and Adam      08/10/202108/23/2021Building Materials
HAYNTriangle, symmetrical      07/19/202108/26/2021Building Materials
DHIDiamond top      08/02/202108/26/2021Homebuilding
KLICScallop, descending      08/10/202108/26/2021Semiconductor Cap Equip.
MAFalling wedge      07/19/202108/20/2021Financial Services
JWNDouble Top, Adam and Adam      08/12/202108/24/2021Retail Store
PFEDouble Top, Adam and Adam      08/18/202108/23/2021Drug
WLKBroadening bottom      07/21/202108/25/2021Chemical (Basic)

 

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Thursday 8/26/21. Intraday Market Direction: Nasdaq

The index climbed by 0.1% or 22.06 points. Since 02/05/1971 the index made 721 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 402 occasions.
     Average loss was -0.8% on 319 occasions.
Expect the index to close higher 55.8% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 225/392 or 57.4% of the time.
     The prediction of the index closing lower has been right 58/123 or 47.2% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

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

I don't see much happening in the picture. The Thursday bottom (lowest on the chart, and associated bottoms) almost looks like a head-and-shoulders bottom but I thought it a stretch.

Then I pondered resistance at A, circled. Price moved sideways for a long time during that day. At B, the next day, price bumped up against that resistance.

Then look what happened at C. Nothing. The index blew through resistance and kept going up. I would have guessed that it would stop at the red line and turn lower, but it didn't. Since then the momentum of the index has dropped off. It's struggling to rise and looks as if it's about to tumble.

Even though the above probabilities suggest a higher close, if that happened it would surprise me.

$ $ $

Here's a symbol list of 102 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AJRD, AKAM, AYX, AMED, AEO, APH, AAPL, AMAT, ACGL, BBBY, BIG, BMY, CACI, CALM, CPB, CENX, CRL, CHD, CLX, CGNX, CTSH, CMTL, CLR, CREE, CRH, CCRN, DVN, EFX, EQT, EL, EZPW, FFIV, FDS, FE, FORM, GIS, GPN, HELE, DHI, HUBG, INFN, IIIN, IBKR, JCOM, JBLU, JNJ, KALU, KLAC, LAWS, LDOS, LMT, MHO, MANH, MTRN, MRK, MSFT, NCR, NTAP, NWL, NI, JWN, OGE, ORI, OUT, PYPL, PRFT, PG, RGA, SMTC, SSYS, TRV, UNM, VRSN, V, WU, WSM, ZBRA, IAI, IEZ, IHE, FTEC, FXL, IAT, IYZ, EWC, ECH, EIS, EWM, EWW, EZA, EWP, EWT, QLD, PBE, QQQ, ROBO, IXN. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

Top

© 2021 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  13,985.19    
 Weekly S2  14,381.71  396.53   
 Monthly S1  14,513.52  131.81   
 Monthly Pivot  14,705.00  191.47   
 Weekly S1  14,711.79  6.79   
 Weekly Pivot  14,753.23  41.45   
 Daily S2  14,989.77  236.54   
 Low  15,011.58  21.81   
 Daily S1  15,015.82  4.24   Yes! The Daily S1 is close to the Low.
 61.8% Down from Intraday High  15,029.86  14.04   
 50% Down from Intraday High  15,035.50  5.65   
 Daily Pivot  15,037.62  2.12   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 Open  15,039.03  1.41   Yes! The Open is close to the Daily Pivot.
 38.2% Down from Intraday High  15,041.15  2.12   Yes! The 38.2% Down from Intraday High is close to the Open.
 Close  15,041.86  0.71   Yes! The Close is close to the 38.2% Down from Intraday High.
 High  15,059.43  17.57   
 Daily R1  15,063.67  4.24   Yes! The Daily R1 is close to the High.
 Weekly R1  15,083.31  19.64   
 Daily R2  15,085.47  2.17   Yes! The Daily R2 is close to the Weekly R1.
 Weekly R2  15,124.75  39.28   
 Monthly R1  15,233.33  108.58   
 Monthly R2  15,424.81  191.47   

Wednesday 8/25/21. A Look At Indicators

Picture of the chart pattern indicator

This is a picture of the chart pattern indicator on the daily scale. The indicator is the line chart below a chart of the S&P 500 composite.

Three days ago, the indicator turned green. That green bar on the far right of the chart is bullish. A glance at the thin blue line at the bottom of the chart is also bullish. However, today it struggled to move higher. You can just see the tip of it hanging off the green bar near 100 (right scale).

Picture of the percent down indicators

The red line is the percentage of stocks at least 20% below their 1-year high (plotted upside down). The blue line is the average percentage drop of stocks below their 1-year high (plotted upside down).

Shown as a red line on the above chart...
On Tuesday, 22% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 25%.
The fewest was 8% on 03/15/2021.
And the most was 58% on 09/23/2020.
Shown as a blue line on the above chart...
The 464 stocks in my database are down an average of 12% from their yearly high.
A week ago, the average was 13%.
The peak was 8% on 03/15/2021.
And the bottom was 27% on 09/23/2020.

Both lines (red and blue) show improvement from a week ago.

Look at the trend setup by the red line. From the left to the right, it arcs upward and eases lower starting in mid March. Maybe it's predicting weakness in September and October. Maybe not.

The blue line over the same period also shows an arc but it's more sedate. Compare that to the index, which has climbed steadily from left to right. Hmm. Bearish divergence.

The prior chart is bullish with a hint of weakness today (Tuesday). This chart looks bullish but the bearish divergence is a warning. I still think weakness next month and October will see the indices drop, but I've been wrong before.

$ $ $

Here's a symbol list of 154 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, ACIW, ATSG, AKAM, AA, AYX, AMWD, APA, AWI, ASH, ATO, ADSK, BCPC, BBBY, BBY, BIO, BKH, EPAY, BLDR, CNC, CENX, CHKP, CVX, CLX, CGNX, CTSH, CL, CMCO, ED, CLR, CTS, DVN, WIRE, EL, EXPD, FDS, FICO, FE, FLS, FTNT, FCX, GME, GES, HTLD, HSII, HELE, HON, HUBG, JBHT, IIIN, ITGR, IBKR, NVTA, JBLU, KBAL, KLIC, LZB, LLY, MANH, MRO, MCHX, MTRN, MRK, MSFT, MLHR, MCO, MOS, MUR, NOV, NCR, NXGN, NI, OXY, ORI, OMCL, OUT, OMI, PANW, PNW, DGX, RHI, ROG, NOW, SLGN, SKX, LUV, SWX, SXI, TPR, TDC, TSCO, RIG, UNM, VLO, VEEV, VRSN, WMT, WLK, IYM, IYC, IYE, IEO, IEZ, FTEC, FDN, QTEC, FXL, BOTZ, ICF, IYZ, IGV, SLV, IGE, EWA, EWK, EWC, EEM, EIS, EWJ, EWM, EPP, EZA, EWY, THD, QLD, PXJ, QQQ, ROBO, IXC, IXN, ILF, MXI, XLY, XLP, XLE, XLB, XRT, XAR, USO, VAW. Clink 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

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Tuesday 8/24/21. Slider Trading Quiz! Coach (COH)

The index climbed by 0.6% or 215.63 points. Since 10/01/1928 the index made 875 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 492 occasions.
     Average loss was -0.6% on 383 occasions.
Expect the index to close higher 56.2% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 228/406 or 56.2% of the time.
     The prediction of the index closing lower has been right 42/89 or 47.2% of the time.

$ $ $

I show another slider trading quiz featuring Coach (COH)

$ $ $

Here's a symbol list of 123 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, AXDX, ACIW, AJRD, ALRM, AYX, AEO, AIG, AWI, ASH, AIZ, AVNT, BAX, BERY, BIG, BKH, BAH, BRC, BMY, BBW, CPB, CX, CF, CRL, CHD, CNA, CNO, CTSH, ED, COP, COTY, CCRN, DHR, DVN, DDS, BOOM, EOG, EL, EVH, FDS, FE, FLS, FWRD, FDP, GS, GES, THG, HIG, HOV, IDXX, ILMN, IIIN, IBKR, IPI, IVC, NVTA, KBAL, KSS, LH, LEG, LLY, MCHX, MRTN, MA, MTRX, MDT, MRK, MLHR, MUR, MYGN, NOV, NCR, NWL, NI, JWN, NWPX, NUS, NVDA, OGE, ORI, OLN, OMCL, OUT, PKG, PNW, QCOM, DGX, RMBS, RES, SAIA, SRE, NOW, SWX, TDC, TSCO, TRV, TG, VC, WMT, WLK, XLNX, ITA, IHE, FTEC, ICF, IYZ, EIS, EWD, THD, QLD, PPA, DBA, PEJ, QQQ, IXN, XLP, GLD, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2021 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  33,013.46    
 Monthly S1  34,174.58  1,161.13   
 Weekly S2  34,278.11  103.53   
 Weekly S1  34,806.91  528.80   
 Monthly Pivot  34,902.89  95.98   
 Daily S2  35,040.59  137.70   
 Low  35,160.97  120.38   
 Open  35,160.97  0.00   Yes! The Open is close to the Low.
 Daily S1  35,188.15  27.18   
 Weekly Pivot  35,219.05  30.90   
 61.8% Down from Intraday High  35,263.32  44.27   
 50% Down from Intraday High  35,294.94  31.62   
 Daily Pivot  35,308.53  13.59   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  35,326.56  18.03   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  35,335.71  9.15   Yes! The Close is close to the 38.2% Down from Intraday High.
 High  35,428.91  93.20   
 Daily R1  35,456.09  27.18   
 Daily R2  35,576.47  120.38   
 Weekly R1  35,747.85  171.38   
 Monthly R1  36,064.01  316.16   
 Weekly R2  36,159.99  95.98   
 Monthly R2  36,792.32  632.33   

Monday 8/23/21. Market Monday: The Week Ahead

My Prediction

Picture of the Dow utilities on the daily scale.

I show the Dow utilities on the daily scale.

There's not much to comment about on this chart. Big picture: The index is moving up but in wide swings. The move higher after the March low was a nice straight-line run. After that, the path turned messier.

Of the 5 indices I follow, this one is in last place for year-to-date performance. But that performance doesn't include dividends, so with divs included, performance would narrow with the others (but would probably still remain in last place).

In red (A), I show an ascending scallop but with a downward breakout. Downward breakouts are rare in a bull market.

The green turn (B) is a rounded bottom. There's no handle on the right, so it's not a cup with handle.

It looks as if the utilities are making another run upward. I don't know how long this will last, but the two utility stocks I own are enjoying the lift. Plus, they pay big dividends (because I've owned them a long time and the companies have raised the dividend over time).

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A Brief Look Back

Picture of a flower from my garden.

The following is a brief review of how the markets performed over time. The numbers refer to the close-to-close move in the Dow industrials.

Monday: Up 110.02 points.
Tuesday: Down 282.12 points.
Wednesday: Down 382.59 points.
Thursday: Down 66.57 points.
Friday: Up 225.96 points.

For the Week...

The Dow industrials were down 395.3 points or 1.1%.
The Nasdaq composite was down 108.24 points or 0.7%.
The S&P 500 index was down 26.33 points or 0.6%.

Year to Date...

Dow Industrials
     1.4% down from the high of 35,631.19 on 08/16/2021.
     17.6% up from the low of 29,856.30 on 01/29/2021.
Nasdaq
     1.2% down from the high of 14,896.47 on 08/05/2021.
     18.7% up from the low of 12,397.05 on 03/05/2021.
S&P 500
     0.9% down from the high of 4,480.26 on 08/16/2021.
     21.3% up from the low of 3,662.71 on 01/04/2021.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  34,745  34,932  35,055  35,243  35,365 
Weekly  34,206  34,663  35,147  35,604  36,088 
Monthly  32,942  34,031  34,831  35,920  36,720 
S&P500 (^GSPC): Daily  4,393  4,418  4,431  4,455  4,468 
Weekly  4,317  4,380  4,430  4,492  4,542 
Monthly  4,138  4,290  4,385  4,537  4,632 
Nasdaq (^IXIC): Daily  14,519  14,617  14,669  14,767  14,820 
Weekly  14,273  14,494  14,644  14,865  15,016 
Monthly  13,876  14,295  14,596  15,015  15,316 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season is either underway or should be starting soon. The sessions could be more volatile.

Here's a symbol list of 127 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ALRM, DOX, AMED, AEP, AEL, ANIK, ADM, AGO, ATO, ADSK, AVY, AVNT, BIG, BRC, BMY, BG, COG, CDNS, CX, CF, CHS, CINF, CSCO, CGNX, CTSH, CMTL, ED, CREE, CRH, CCRN, DDS, DUK, BOOM, EIX, EL, EVH, FDS, FICO, FAST, GPS, GFF, THG, HSC, HTLD, HOLX, HOV, HUBG, HURC, IDA, ILMN, INCY, IPAR, IPI, INTU, NVTA, KBAL, MHO, MRTN, MA, MSFT, MOS, MUR, MYGN, ^IXIC, NTGR, NJR, JWN, NVDA, OGE, ORI, OMCL, PKE, PTEN, PYPL, PCG, PLXS, PPG, PRU, RMBS, RCKY, ROG, RES, SMG, SRE, SXI, TECH, TDC, TKR, RIG, TRV, VLO, VRSN, VC, WEX, WSM, WDAY, XLNX, ZBRA, IAI, IYC, QTEC, FXL, ICF, IHF, IYZ, IGV, EWK, EWC, ECH, EWI, EZA, EWP, EWU, PPA, DBA, PBE, ROBO, IEV. Clink this link for details (pattern type, start and end dates).

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

The below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Retail (Special Lines)1. Shoe
2. Shoe2. Retail (Special Lines)
3. Human Resources3. Securities Brokerage
4. Retail Store4. Human Resources
5. Insurance (Diversified)5. Retail Store
6. Furn/Home Furnishings6. Advertising
7. Precision Instrument7. Cement and Aggregates
8. Advertising8. Furn/Home Furnishings
9. Medical Supplies9. Insurance (Diversified)
10. Securities Brokerage10. Precision Instrument
Best Performing AboveWorst Performing Below
50. Household Products50. Household Products
51. Petroleum (Integrated)51. Chemical (Basic)
52. Chemical (Basic)52. Telecom. Equipment
53. Semiconductor53. Semiconductor Cap Equip.
54. Telecom. Equipment54. Semiconductor
55. Investment Co. (Foreign)55. Medical Services
56. Semiconductor Cap Equip.56. Electronics
57. Chemical (Specialty)57. Chemical (Specialty)
58. Healthcare Information58. Oilfield Svcs/Equipment
59. Short ETFs59. Healthcare Information
60. Oilfield Svcs/Equipment60. Short ETFs

-- Thomas Bulkowski

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Friday 8/20/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 199 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ACN, ADBE, AJRD, AES, ALRM, AA, AEP, AXP, APH, APA, ATR, ADM, ASH, ATO, BAX, BA, BRC, BBW, CBT, COG, CE, CX, CENX, CF, CRL, CHKP, CVX, CIEN, CLF, CMCO, COP, CLR, CSOD, COST, CR, CTS, CMI, DVN, DDS, DFS, DOV, DRQ, EMN, EIX, EQT, XOM, FB, FDS, FDX, FOE, FIVN, FLEX, FLS, FWRD, FCX, GNW, GS, GFF, HSC, HP, HNI, HOLX, HD, IEX, IDXX, ILMN, INOV, NSP, IPI, NVTA, JAZZ, JBLU, KALU, KBH, KMT, KBAL, KSS, LEG, MTSI, M, MRO, MRTN, MDT, MGEE, MSFT, MOS, MUR, MYGN, NBR, NOV, CNR, NCR, NTGR, NTAP, NKE, JWN, NWPX, NVDA, OXY, OLN, OMCL, OMC, OUT, OMI, PKE, PATK, PTEN, PETS, PNW, PG, QCOM, RMBS, RGA, REV, RES, SLB, SCHW, SAIC, SIGI, SCCO, SCS, SNPS, TDC, TEVA, TKR, TJX, RIG, TRV, SLCA, UNM, VLO, VC, WLK, WMB, ITA, IYM, IYK, IYC, IYE, IEO, IEZ, IHE, FXL, FXI, ICF, IAT, IGE, EWA, EWC, EEM, EWQ, EWG, EWI, EWJ, EPP, EZA, EWP, EWD, TUR, EWU, PBE, PEJ, PXJ, ROBO, IEV, IXC, IXN, ILF, MXI, XLE, XLB, XRT, XAR, USO, VIS, VAW. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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.

There were 13 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 2.3%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 6 bullish chart patterns this week and 7 bearish ones with any remaining (0) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bearish (down) turn.

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

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ALRMPipe top      08/02/202108/09/2021Computer Software and Svcs
AEOTriangle, symmetrical      06/04/202108/13/2021Apparel
BRCHead-and-shoulders top      07/26/202108/16/2021Chemical (Diversified)
CDNSBroadening top      08/04/202108/19/2021Computer Software and Svcs
CALMHead-and-shoulders complex bottom      07/07/202108/16/2021Food Processing
EIXBroadening bottom      05/14/202108/19/2021Electric Utility (West)
HAYNTriangle, symmetrical      07/19/202108/18/2021Building Materials
NVTAPipe top      08/02/202108/09/2021Medical Services
KBroadening bottom      06/22/202108/17/2021Food Processing
MTRXBroadening bottom      07/26/202108/18/2021Oilfield Svcs/Equipment
MURHorn top      07/26/202108/09/2021Petroleum (Integrated)
RMBSPipe top      08/02/202108/09/2021Semiconductor Cap Equip.
SCCODouble Top, Eve and Eve      07/29/202108/13/2021Metals and Mining (Div.)

 

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Thursday 8/18/21. Cryptocurrency Ethereum (ETH-USD)

The Nasdaq index dropped by -0.8% or -120.27 points. Since 02/05/1971 the index made 261 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 130 occasions.
     Average loss was -1.1% on 131 occasions.
Expect the index to close lower 50.2% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 225/392 or 57.4% of the time.
     The prediction of the index closing lower has been right 58/122 or 47.5% of the time.

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

Picture of ETH-USD on the daily scale.

$ $ $

I show a picture of Ethereum on the daily chart.

The cryptocurrency made a Eve & Adam double bottom at AB. It confirmed as a valid chart pattern at C when the coin climbed above the highest peak set between the the two bottoms.

A nice upward run followed, almost fulfilling the measure rule for double bottoms. That's the height of the pattern (from lowest of the two bottoms (A) to the peak between the two bottoms (C)) added to C. It appears the currency fell just short of the target.

There's another chart pattern here, but I don't highlight it on the chart. It's a high and tight flag. That's when price doubles (I use 90% as a minimum) in less than 2 months. The move from B to D qualifies as the double or near double. If the pattern works as it's supposed to, look for a retrace to form (which it appears to be doing now). The flag portion of the pattern can be any type of retrace providing it doesn't retrace too far nor last too long.

Supposedly, the next move will be upward, seeing the currency double in price. However, the pattern has a lousy track record. In stocks, the pattern either doesn't confirm (price has to close above the high at D) or it moves up 10% to 15% before reversing. It doesn't come anywhere near doubling. But that's for stocks...

$ $ $

Here's a symbol list of 117 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AES, ALRM, ATO, BLL, BAX, BA, BMY, COG, CX, CF, CVX, CIEN, CINF, CLX, CMCO, ED, CAG, COP, CLR, CREE, CRH, DHR, DVN, DDS, ^DJU, D, WIRE, XOM, FDS, FIS, FE, FWRD, FCX, HBI, HSIC, HOLX, IVC, NVTA, JNJ, K, KMB, KLIC, LOW, LXU, MTSI, MCHX, MDT, MRK, MGEE, MUR, MYGN, NTAP, NI, JWN, ORI, OMCL, PTEN, PPL, PINC, KWR, DGX, RL, RMBS, REV, RES, CRM, SAIC, SEIC, SCCO, SWX, SWN, TDC, RIG, TRV, TG, VFC, VLO, VEEV, VRTX, VC, WMB, IYK, IHI, IEO, IEZ, IHE, IYH, IGV, EWA, EWO, EWC, EWJ, EWD, EWT, PPA, PBE, PXJ, IXN, XAR, UNG, USO, SMH. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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© 2021 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  13,813.20    
 Monthly S1  14,169.56  356.35   
 Daily S2  14,398.87  229.31   
 Daily S1  14,462.39  63.52   
 Weekly S2  14,502.11  39.72   
 Weekly S1  14,514.01  11.90   Yes! The Weekly S1 is close to the Weekly S2.
 Low  14,516.30  2.29   Yes! The Low is close to the Weekly S1.
 Close  14,525.91  9.61   Yes! The Close is close to the Low.
 Monthly Pivot  14,533.01  7.10   Yes! The Monthly Pivot is close to the Close.
 Daily Pivot  14,579.82  46.81   
 61.8% Down from Intraday High  14,585.42  5.60   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 50% Down from Intraday High  14,606.78  21.35   
 38.2% Down from Intraday High  14,628.13  21.35   
 Open  14,636.24  8.11   Yes! The Open is close to the 38.2% Down from Intraday High.
 Daily R1  14,643.34  7.10   Yes! The Daily R1 is close to the Open.
 High  14,697.25  53.91   
 Weekly Pivot  14,704.31  7.06   Yes! The Weekly Pivot is close to the High.
 Weekly R1  14,716.21  11.90   Yes! The Weekly R1 is close to the Weekly Pivot.
 Daily R2  14,760.77  44.56   
 Monthly R1  14,889.37  128.60   
 Weekly R2  14,906.51  17.14   Yes! The Weekly R2 is close to the Monthly R1.
 Monthly R2  15,252.82  346.31   

Wednesday 8/18/21. A Look At Indicators

Picture of the chart pattern indicator

This is a picture of the chart pattern indicator on the daily scale. The indicator is the line chart below a chart of the S&P 500 composite.

My guess is the bearish signal we see in the CPI (vertical red bar on the far right) is because of the way the indicator is constructed. Signals can appear or disappear for up to a week but are often solid after 3 days. This is the first day the signal appeared.

I think the market tumbled on profit taking spurred on by news the markets didn't like. I think this is a short-term downswing.

Picture of the percent down indicators

The red line is the percentage of stocks at least 20% below their 1-year high (plotted upside down). The blue line is the average percentage drop of stocks below their 1-year high (plotted upside down).

Shown as a red line on the above chart...
On Tuesday, 25% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 20%.
The fewest was 8% on 03/15/2021.
And the most was 58% on 09/23/2020.
Shown as a blue line on the above chart...
The 464 stocks in my database are down an average of 13% from their yearly high.
A week ago, the average was 12%.
The peak was 8% on 03/15/2021.
And the bottom was 27% on 09/23/2020.

Both lines (red and blue) are worse this week than last. That's clear on the chart with the downward trend, highlighted strongly by the drop in the red line.

Last week, I thought the charts looked bullish (CPI chart shows bearish divergence, though) and the markets climbed. This time, though, they look weak. However, I think the weakness is temporary.

Having written that, September, the weakest month of the year is coming up fast, so maybe look out below. Just don't be surprised if the markets rise instead.

Yes, I'm playing both sides of the street here...

$ $ $

Here's a symbol list of 152 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AEIS, AES, ALRM, ALB, AA, ALKS, ADS, AEO, ANTM, APA, AVA, BSET, BIG, BA, BBW, COG, CACI, CE, CX, CNC, CENX, CF, CIEN, CINF, CMCO, CMTL, CAG, COP, CREE, CRH, DDS, DRQ, BOOM, WIRE, EQT, RE, EVH, XOM, FDS, FE, FISV, FLS, FMC, FCX, GPS, GE, GES, HQY, HP, HSIC, HOLX, HD, INOV, INTU, NVTA, JCOM, JAZZ, KELYA, KFRC, LOW, MTSI, MRO, MOS, MUR, NBR, NCR, NTAP, NEU, NXGN, JWN, NUS, OXY, OMCL, PTEN, PICO, PNW, PINC, PHM, KWR, RMBS, RGA, RES, SLB, SCCO, LUV, SSYS, TDC, TOL, RIG, TZOO, SLCA, UGI, VFC, VLO, VRSN, WMB, ITA, IYM, IYK, IYC, IEZ, FXL, FXI, IHF, IGE, EWA, EWO, EWZ, EWC, EEM, EWQ, EWG, EIS, EWI, EWJ, EWM, EPP, EZA, EWY, EWP, EWD, EWT, IBB, PPA, PEJ, PXJ, ROBO, XLY, XRT, XAR, UNG, SMH. Clink 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

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Tuesday 8/17/21. Slider Trading Quiz!

The index climbed by 0.3% or 110.02 points. Since 10/01/1928 the index made 1119 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 618 occasions.
     Average loss was -0.6% on 501 occasions.
Expect the index to close higher 55.2% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 228/405 or 56.3% of the time.
     The prediction of the index closing lower has been right 42/89 or 47.2% of the time.

$ $ $

I show another slider trading quiz featuring Campbell Soup (CPB)

$ $ $

Stefano C. emailed me about a mistake he found in my Encyclopedia of Chart Patterns, 3rd edition book. He found a chart which was incorrect. Clink this link for more details.

Thanks Stefano!

$ $ $

Here's a symbol list of 148 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AYI, ADTN, AFL, AKAM, ALRM, ALB, ADS, ALL, AEO, AFG, AMWD, ACGL, ARW, AIZ, ATO, AVY, BMI, BAX, BECN, BZH, BERY, BIO, BKNG, BG, COG, CALM, CENX, CIEN, CGNX, CLR, CREE, CTS, DHR, DDS, ^DJI, DRQ, DTE, BOOM, EBAY, WIRE, EOG, EQT, EVH, EXC, XOM, EZPW, FDS, FE, FISV, FLS, FMC, FWRD, GPS, GD, GS, HSC, HAYN, HSII, HSIC, HNI, HOLX, IEX, ITGR, IPI, NVTA, JCOM, JAZZ, KFRC, LOW, MRO, MDC, NBR, ^IXIC, CNR, NTAP, NKE, NOC, ORI, ASGN, PDCO, PTEN, PICO, PFG, PGR, PHM, ROK, RES, SIGI, SKX, SO, SCCO, SWN, SXI, SRDX, TECH, TDOC, TFX, TXT, TOL, TSCO, TRV, TZOO, SLCA, UGI, VLO, VEEV, WSM, IAI, ITB, IEZ, DDM, FXL, FXI, EWZ, ECH, EEM, TUR, IBB, DBA, PEJ, PXJ, ROBO, XLY, XLF, GLD, XHB, XLI, XAR, UNG, USO. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2021 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  33,123.77    
 Monthly S1  34,374.58  1,250.82   
 Weekly S2  34,856.41  481.82   
 Monthly Pivot  34,992.58  136.17   
 Daily S2  35,096.83  104.25   
 Low  35,231.87  135.04   
 Weekly S1  35,240.90  9.03   Yes! The Weekly S1 is close to the Low.
 Daily S1  35,361.12  120.21   
 61.8% Down from Intraday High  35,384.41  23.29   Yes! The 61.8% Down from Intraday High is close to the Daily S1.
 Weekly Pivot  35,425.74  41.33   
 50% Down from Intraday High  35,431.53  5.79   Yes! The 50% Down from Intraday High is close to the Weekly Pivot.
 38.2% Down from Intraday High  35,478.65  47.12   
 Open  35,490.83  12.18   Yes! The Open is close to the 38.2% Down from Intraday High.
 Daily Pivot  35,496.15  5.32   Yes! The Daily Pivot is close to the Open.
 Close  35,625.40  129.25   
 High  35,631.19  5.79   Yes! The High is close to the Close.
 Daily R1  35,760.44  129.25   
 Weekly R1  35,810.23  49.80   
 Daily R2  35,895.47  85.24   
 Weekly R2  35,995.07  99.59   
 Monthly R1  36,243.39  248.33   
 Monthly R2  36,861.39  617.99   

Monday 8/16/21. Market Monday: The Week Ahead

My Prediction

Picture of the S and P 500 on the daily scale.

This is a chart of the S&P 500 index on the daily scale.

I drew two red trendlines, one along the peaks and one along the valleys, just to see how they line up.

As the chart shows, you have several touches or near touches of each trendline. The touches are well spaced, suggesting the lines are important as they outline the trend.

The index is straddling the upper middle of the channel, continuing to climb.

Notice back in May (A) the index rode along the top of the channel before racing to the other side.

Will the price action at B perform the same way? My guess is yes, it will. When? I've no idea but maybe September weakness is the answer. (I continue to write about weakness going into September, but haven't seen any sign of it yet).


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A Brief Look Back

Picture of a flower from my garden.

The following is a brief review of how the markets performed over time. The numbers refer to the close-to-close move in the Dow industrials.

Monday: Down 106.66 points.
Tuesday: Up 162.82 points.
Wednesday: Up 220.3 points.
Thursday: Up 14.88 points.
Friday: Up 15.53 points.

For the Week...

The Dow industrials were up 306.87 points or 0.9%.
The Nasdaq composite was down 12.86 points or 0.1%.
The S&P 500 index was up 31.48 points or 0.7%.

Year to Date...

Dow Industrials
     0.3% down from the high of 35,610.57 on 08/13/2021.
     19.0% up from the low of 29,856.30 on 01/29/2021.
Nasdaq
     0.5% down from the high of 14,896.47 on 08/05/2021.
     19.6% up from the low of 12,397.05 on 03/05/2021.
S&P 500
     0.0% down from the high of 4,468.37 on 08/13/2021.
     22.0% up from the low of 3,662.71 on 01/04/2021.

Options Expiration

Many options expire this week, so traders will be looking to close out their positions, and that suggests increased volatility (large daily price swings).

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Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  35,398  35,457  35,534  35,592  35,669 
Weekly  34,820  35,168  35,389  35,737  35,958 
Monthly  33,087  34,301  34,956  36,170  36,825 
S&P500 (^GSPC): Daily  4,458  4,463  4,466  4,471  4,473 
Weekly  4,410  4,439  4,454  4,483  4,497 
Monthly  4,155  4,311  4,390  4,547  4,625 
Nasdaq (^IXIC): Daily  14,770  14,797  14,824  14,850  14,877 
Weekly  14,601  14,712  14,803  14,914  15,006 
Monthly  13,912  14,368  14,632  15,087  15,352 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season is either underway or should be starting soon. The sessions could be more volatile.

Here's a symbol list of 139 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACN, ADTN, AFL, APD, AKAM, ALRM, ALB, DOX, AEO, ASH, AIZ, AVA, BLL, BECN, BBBY, BBY, BKH, BKNG, COG, CENX, CINF, CSCO, CNA, CGNX, CMCO, CMTL, CLR, COTY, CR, DDS, EBAY, WIRE, EOG, EVH, XOM, FB, FDS, FDX, FISV, FLEX, FLS, FORM, GPS, GD, GS, HSC, HE, HSIC, HNI, HOLX, HOV, IEX, ITGR, IBKR, IPG, JCOM, KELYA, KFRC, LAWS, LEG, LNC, MRO, MRTN, MLM, MAS, MTRX, MRK, MUR, NTAP, NEE, JWN, PKE, PAYX, PFG, PG, RCKY, RES, ^GSPC, CRM, SAIC, NOW, SLGN, SKX, SRDX, TEVA, TXT, WAT, ZBRA, IAI, IYK, IYC, IHI, IEO, IDU, FTEC, FDN, BOTZ, IYH, IHF, IYZ, IGE, EWA, EWO, EWK, EWZ, EWQ, EWG, EWI, EWY, EWP, EWD, EWL, EWT, EWU, PPA, DBA, PEJ, IEV, XLY, XLE, XLF, XLV, XRT, XLK. Clink this link for details (pattern type, start and end dates).

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

The below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Shoe1. Shoe
2. Retail (Special Lines)2. Retail (Special Lines)
3. Securities Brokerage3. Human Resources
4. Human Resources4. Securities Brokerage
5. Retail Store5. Computers and Peripherals
6. Advertising6. Petroleum (Producing)
7. Cement and Aggregates7. Advertising
8. Furn/Home Furnishings8. Retail Store
9. Insurance (Diversified)9. Furn/Home Furnishings
10. Precision Instrument10. Cement and Aggregates
Best Performing AboveWorst Performing Below
50. Household Products50. Electric Utility (East)
51. Chemical (Basic)51. Medical Services
52. Telecom. Equipment52. Investment Co. (Foreign)
53. Semiconductor Cap Equip.53. Telecom. Equipment
54. Semiconductor54. Electronics
55. Medical Services55. Chemical (Basic)
56. Electronics56. Oilfield Svcs/Equipment
57. Chemical (Specialty)57. Household Products
58. Oilfield Svcs/Equipment58. Healthcare Information
59. Healthcare Information59. Chemical (Specialty)
60. Short ETFs60. Short ETFs

-- Thomas Bulkowski

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Friday 8/13/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 118 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, APD, AEO, AMAT, ADM, ARW, AIZ, ATO, ADSK, AXS, BMI, BBBY, BKNG, BRC, BLDR, COG, CPB, CLS, CX, CENX, CIEN, CNA, CGNX, CMCO, COTY, CR, DECK, DDS, DTE, EFX, EXPD, FAST, FISV, FDP, FRD, GPS, GD, GNW, GS, GOOGL, GPRO, HBI, HTLD, HSIC, HNI, HOLX, IEX, IDXX, IIIN, ITGR, IPAR, IBKR, IPG, KELYA, KFRC, LLY, LNC, MHO, MRO, MRTN, MA, MTRN, MTRX, MU, MSFT, MLHR, NJR, NWL, NEE, JWN, OGE, ORI, PINC, KWR, ROG, ^GSPC, SCHW, SKX, SO, SR, SCS, SNPS, TEVA, TMO, TREX, V, VC, WDAY, IYC, IEZ, IHE, BOTZ, IGV, EWO, EWG, EWH, EIS, EWS, EWY, TUR, DBA, PEJ, SSO, XLF, XRT, SPY, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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.

There were 20 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 3.5%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 10 bullish chart patterns this week and 2 bearish ones with any remaining (8) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bullish (up) turn.

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

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
AEPDiamond top      07/28/202108/12/2021Electric Utility (Central)
AMWDDouble Bottom, Eve and Eve      07/19/202108/09/2021Building Materials
BMIRising wedge      07/19/202108/12/2021Precision Instrument
^DJTTriangle, symmetrical      07/19/202108/09/2021None
GPSHorn bottom      07/19/202108/02/2021Apparel
GILDDouble Bottom, Adam and Adam      08/02/202108/10/2021Biotechnology
HOLXCup with handle      04/13/202108/12/2021Medical Supplies
ITGRPipe top      07/26/202108/02/2021Electronics
KALUUgly double bottom      07/22/202108/10/2021Metals and Mining (Div.)
LZBTriangle, ascending      07/19/202108/06/2021Furn/Home Furnishings
MROHorn bottom      07/19/202108/02/2021Petroleum (Integrated)
NTGRUgly double bottom      07/22/202108/09/2021Telecom. Equipment
NJRTriangle, symmetrical      07/12/202108/12/2021Natural Gas (Distributor)
NEERounding bottom      04/16/202108/11/2021Electric Utility (East)
NITriangle, symmetrical      06/15/202108/12/2021Electric Utility (Central)
NOCTriangle, symmetrical      07/13/202108/12/2021Aerospace/Defense
PORBroadening bottom      05/14/202108/06/2021Electric Utility (West)
PPGUgly double bottom      07/20/202108/09/2021Chemical (Diversified)
TOLUgly double bottom      07/19/202108/10/2021Homebuilding
XELTriangle, symmetrical      07/19/202108/12/2021Electric Utility (West)

 

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Thursday 7/12/21. Cryptocurrency BTC-USD

The index dropped by -0.2% or -22.95 points. Since 02/05/1971 the index made 527 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 276 occasions.
     Average loss was -0.8% on 251 occasions.
Expect the index to close higher 52.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 224/391 or 57.3% of the time.
     The prediction of the index closing lower has been right 58/122 or 47.5% of the time.

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

Picture of BTC-USD on the daily scale.

$ $ $

I show a picture of BTC-USD on the daily scale.

It's been almost 2 months since I looked at BTC. In this chart, we see the coin made a double bottom at AB, which confirmed as a valid chart pattern when it closed above the peak between the two bottoms. I show that as the horizontal red line. The coin climbed for about a week to D and then threw back to the breakout price at C.

Since then, the coin has climbed. How far might it go? One answer is to look at a chart pattern called a measured move up. The theory is that the CE move will be the same as BD. Eyeballing it, that would mean a rise to about 50,000. That's also a good round number where I expect a lot of selling to occur.

$ $ $

Here's a symbol list of 128 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, ALRM, ALK, AYX, AEO, AIG, ANTM, AIZ, BCPC, BBY, BIG, BKNG, CBT, CACI, CNC, CENX, CF, CRL, CLNE, CGNX, COTY, CR, CRH, CTS, CW, DDS, ^DJI, FISV, FORM, FWRD, GPS, GILD, GPRO, HAYN, HSIC, HSY, HNI, HOLX, HD, HOV, HURC, IDXX, INFN, ITGR, INTC, IPI, NVTA, K, KELYA, KFRC, LH, LDOS, LLY, LNC, MRO, MDC, MU, ^IXIC, NFG, NWL, NEU, NEE, NOC, OGE, OLN, PANW, PRFT, PHM, KWR, RJF, RHI, ^GSPC, SKX, TPX, TKR, TREX, VC, WMT, WSM, XEL, IYM, IYC, IHE, IDU, DDM, FXL, BOTZ, IYH, IHF, EWA, EWO, EWC, ECH, EIS, EWI, EPP, EWY, EWP, EWL, EWU, QLD, DBA, PBE, PEJ, QQQ, IEV, ILF, SSO, XLP, XLF, SPY, XAR, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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© 2021 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  13,892.95    
 Monthly S1  14,329.04  436.10   
 Weekly S2  14,436.19  107.14   
 Weekly S1  14,600.66  164.48   
 Monthly Pivot  14,612.76  12.09   Yes! The Monthly Pivot is close to the Weekly S1.
 Daily S2  14,616.59  3.84   Yes! The Daily S2 is close to the Monthly Pivot.
 Daily S1  14,690.87  74.27   
 Low  14,692.41  1.54   Yes! The Low is close to the Daily S1.
 Weekly Pivot  14,748.57  56.16   
 61.8% Down from Intraday High  14,749.74  1.18   Yes! The 61.8% Down from Intraday High is close to the Weekly Pivot.
 Close  14,765.14  15.40   
 Daily Pivot  14,766.68  1.54   Yes! The Daily Pivot is close to the Close.
 50% Down from Intraday High  14,767.46  0.77   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  14,785.17  17.71   
 Open  14,834.38  49.21   
 Daily R1  14,840.96  6.58   Yes! The Daily R1 is close to the Open.
 High  14,842.50  1.54   Yes! The High is close to the Daily R1.
 Weekly R1  14,913.04  70.54   
 Daily R2  14,916.77  3.73   Yes! The Daily R2 is close to the Weekly R1.
 Monthly R1  15,048.85  132.08   
 Weekly R2  15,060.95  12.09   Yes! The Weekly R2 is close to the Monthly R1.
 Monthly R2  15,332.57  271.62   

Wednesday 8/11/21. A Look At Indicators: Still Bullish

Picture of the chart pattern indicator

This is a picture of the chart pattern indicator on the daily scale. The indicator is the line chart below a chart of the S&P 500 composite.

I looked back over the Wednesday posts for 3 weeks and see the same signal: bullish. Yes, this chart has bearish divergence where the indicator is making lower peaks even as the index continues to rise.

So there's a hint of a warning here, but we've also seen this happen before. I'm inclined to ignore the divergence, especially in an indicator that can change for up to a week. So the bearish divergence could disappear.

Picture of the percent down indicators

The red line is the percentage of stocks at least 20% below their 1-year high (plotted upside down). The blue line is the average percentage drop of stocks below their 1-year high (plotted upside down).

Shown as a red line on the above chart...
On Tuesday, 20% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 20%.
The fewest was 8% on 03/15/2021.
And the most was 58% on 09/23/2020.
Shown as a blue line on the above chart...
The 464 stocks in my database are down an average of 12% from their yearly high.
A week ago, the average was 12%.
The peak was 8% on 03/15/2021.
And the bottom was 27% on 09/23/2020.

The red and blue lines, as the above text says, show no performance change from a week ago. The red line looks like it climbed and it did, but it did it during the week.

If I had to guess, I'd say this chart is neutral with a tendency to the bullish side. The prior chart is also bullish, so I'm buying in this market.

$ $ $

Here's a symbol list of 142 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACIW, AYI, ADBE, AFL, ALKS, AYX, AEO, AEL, AMWD, ANIK, ANTM, AON, APOG, ACGL, AIZ, ATO, AVY, AVA, AXS, BSET, BBBY, BERY, BKNG, CBT, CNC, CENX, CHS, CIEN, CNO, CGNX, CLR, COTY, CRH, CCRN, CTS, CMI, DECK, DVN, DDS, FFIV, FISV, FIVN, FMC, FCX, GPS, GD, HBI, HAYN, HSIC, HNI, HOLX, IDXX, ITW, INFN, ITGR, IPAR, IPG, INTU, JNJ, KFRC, KBAL, KLAC, LHX, LZB, LRCX, LXU, MTSI, MAN, MRO, MDC, MRK, MU, MSFT, MOS, NUS, OLN, ASGN, OXM, PANW, PICO, PRU, QCOM, RJF, RHI, RCKY, RES, SHW, SLGN, SKX, SR, SSYS, SNPS, TDOC, TXN, TREX, VRSN, V, VC, WWW, WDAY, XEL, XLNX, ITA, DDM, FTEC, FDN, FXL, FXI, IYH, IHF, SOXX, IGE, ECH, EIS, EWY, EWP, EWT, QLD, PEJ, QQQ, IXC, SSO, XLF, XHB, SPY, XLK, UNG, SMH, VHT. Clink 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

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Tuesday 8/10/21. Slider Trading Quiz!

The index dropped by -0.3% or -106.66 points. Since 10/01/1928 the index made 1066 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.5% on 504 occasions.
     Average loss was -0.7% on 562 occasions.
Expect the index to close lower 52.7% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 228/405 or 56.3% of the time.
     The prediction of the index closing lower has been right 42/88 or 47.7% of the time.

$ $ $

I show another slider trading quiz featuring Cabot oil and gas (COG).

$ $ $

Here's a symbol list of 104 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACN, ADBE, ADTN, AFG, AON, AWI, BERY, BA, BRC, CACI, CSCO, CMTL, CROX, CTS, DRQ, EBAY, XOM, FFIV, FLS, FORM, HLIT, HSC, HTLD, HOLX, HD, DHI, HUBG, IPAR, INTU, IVC, NVTA, JKHY, KLAC, LRCX, LLY, MHO, MRTN, MTRN, MDC, MDT, MSFT, MLI, NOV, NEE, NXGN, NWPX, NUS, OXY, OGE, ORI, PATK, PICO, PRU, PHM, RGS, REV, ROG, RES, CRM, SLB, SAIC, SMTC, SWX, SR, SNPS, TFX, TER, TXN, TG, TREX, UGI, VFC, V, WSM, WDAY, XEL, XLNX, IEZ, FTEC, FXI, SOXX, SLV, EEM, EWW, EPP, EWY, EWT, TUR, IBB, PXJ, IEV, GLD, XHB, XLK, SMH. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2021 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  33,191.77    
 Monthly S1  34,146.81  955.04   
 Weekly S2  34,488.53  341.72   
 Monthly Pivot  34,696.80  208.27   
 Weekly S1  34,795.19  98.39   
 Daily S2  34,935.82  140.63   
 Daily S1  35,018.84  83.01   
 Weekly Pivot  35,020.99  2.15   Yes! The Weekly Pivot is close to the Daily S1.
 Low  35,041.24  20.25   
 Close  35,101.85  60.61   
 61.8% Down from Intraday High  35,113.22  11.37   Yes! The 61.8% Down from Intraday High is close to the Close.
 Daily Pivot  35,124.25  11.04   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  35,135.45  11.20   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  35,157.69  22.24   
 Daily R1  35,207.27  49.57   
 Open  35,229.67  22.41   
 High  35,229.67  0.00   Yes! The High is close to the Open.
 Daily R2  35,312.68  83.01   
 Weekly R1  35,327.65  14.96   Yes! The Weekly R1 is close to the Daily R2.
 Weekly R2  35,553.45  225.80   
 Monthly R1  35,651.84  98.39   
 Monthly R2  36,201.83  549.99   

Tuesday 8/10/21. Slider Trading Quiz!

The index dropped by -0.3% or -106.66 points. Since 10/01/1928 the index made 1066 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.5% on 504 occasions.
     Average loss was -0.7% on 562 occasions.
Expect the index to close lower 52.7% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 228/405 or 56.3% of the time.
     The prediction of the index closing lower has been right 42/88 or 47.7% of the time.

$ $ $

I show another slider trading quiz featuring Cabot oil and gas (COG).

$ $ $

Here's a symbol list of 104 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACN, ADBE, ADTN, AFG, AON, AWI, BERY, BA, BRC, CACI, CSCO, CMTL, CROX, CTS, DRQ, EBAY, XOM, FFIV, FLS, FORM, HLIT, HSC, HTLD, HOLX, HD, DHI, HUBG, IPAR, INTU, IVC, NVTA, JKHY, KLAC, LRCX, LLY, MHO, MRTN, MTRN, MDC, MDT, MSFT, MLI, NOV, NEE, NXGN, NWPX, NUS, OXY, OGE, ORI, PATK, PICO, PRU, PHM, RGS, REV, ROG, RES, CRM, SLB, SAIC, SMTC, SWX, SR, SNPS, TFX, TER, TXN, TG, TREX, UGI, VFC, V, WSM, WDAY, XEL, XLNX, IEZ, FTEC, FXI, SOXX, SLV, EEM, EWW, EPP, EWY, EWT, TUR, IBB, PXJ, IEV, GLD, XHB, XLK, SMH. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2021 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  33,191.77    
 Monthly S1  34,146.81  955.04   
 Weekly S2  34,488.53  341.72   
 Monthly Pivot  34,696.80  208.27   
 Weekly S1  34,795.19  98.39   
 Daily S2  34,935.82  140.63   
 Daily S1  35,018.84  83.01   
 Weekly Pivot  35,020.99  2.15   Yes! The Weekly Pivot is close to the Daily S1.
 Low  35,041.24  20.25   
 Close  35,101.85  60.61   
 61.8% Down from Intraday High  35,113.22  11.37   Yes! The 61.8% Down from Intraday High is close to the Close.
 Daily Pivot  35,124.25  11.04   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  35,135.45  11.20   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  35,157.69  22.24   
 Daily R1  35,207.27  49.57   
 Open  35,229.67  22.41   
 High  35,229.67  0.00   Yes! The High is close to the Open.
 Daily R2  35,312.68  83.01   
 Weekly R1  35,327.65  14.96   Yes! The Weekly R1 is close to the Daily R2.
 Weekly R2  35,553.45  225.80   
 Monthly R1  35,651.84  98.39   
 Monthly R2  36,201.83  549.99   

Monday 8/9/21. Market Monday: The Week Ahead

My Prediction

Picture of the Nasdaq on the daily scale.

This is a chart of the Nasdaq Composite on the daily scale.

I don't see anything really exciting on this chart, so I drew three trendlines.

The first (A), connects the three major lows. It'll shows where I expect the index to turn upward, or at least pause, should it drop that far. And no, I don't expect it to see the Nasdaq to drop that far. Having written that, we see profound weakness as the index dropped to the first low in May, so with expected weakness to come in September and maybe October, we could see a large down swing which could send the composite down to line A.

Trendline B hugs price better, but there's only two trendline touches, so it's not an important trendline.

I expect trendline C to put up more resistance as the index reaches that high. You already see that happening to the right of C. The index touches or approaches the trendline several times before backing down.

Putting it all together, the trendlines provide a roadmap to future price movement. New trendlines might form which could override those shown here. And ones like trendline B could be trampled over anyway, so keep that in mind.


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A Brief Look Back

Picture of a flower from my garden.

The following is a brief review of how the markets performed over time. The numbers refer to the close-to-close move in the Dow industrials.

Monday: Down 97.31 points.
Tuesday: Up 278.24 points.
Wednesday: Down 323.73 points.
Thursday: Up 271.58 points.
Friday: Up 144.26 points.

For the Week...

The Dow industrials were up 273.04 points or 0.8%.
The Nasdaq composite was up 163.08 points or 1.1%.
The S&P 500 index was up 41.26 points or 0.9%.

Year to Date...

Dow Industrials
     0.1% down from the high of 35,246.79 on 08/06/2021.
     17.9% up from the low of 29,856.30 on 01/29/2021.
Nasdaq
     0.4% down from the high of 14,896.47 on 08/05/2021.
     19.7% up from the low of 12,397.05 on 03/05/2021.
S&P 500
     0.1% down from the high of 4,440.82 on 08/06/2021.
     21.1% up from the low of 3,662.71 on 01/04/2021.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  35,008  35,108  35,178  35,278  35,347 
Weekly  34,524  34,866  35,057  35,399  35,589 
Monthly  33,227  34,218  34,732  35,723  36,237 
S&P500 (^GSPC): Daily  4,424  4,430  4,435  4,442  4,447 
Weekly  4,349  4,393  4,417  4,461  4,485 
Monthly  4,162  4,299  4,370  4,507  4,578 
Nasdaq (^IXIC): Daily  14,737  14,786  14,838  14,888  14,940 
Weekly  14,460  14,648  14,772  14,960  15,084 
Monthly  13,916  14,376  14,636  15,096  15,356 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season is either underway or should be starting soon. The sessions could be more volatile.

Here's a symbol list of 124 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AEIS, AJRD, ALRM, ALKS, AYX, AMED, ABC, ANTM, APOG, ACGL, ADM, AWI, AIZ, ATO, ADSK, ADP, AVA, BIG, BIIB, BG, CX, CRL, CINF, CL, CMTL, CSOD, CROX, CTS, CW, ^DJI, DUK, EBAY, FB, FDS, FEYE, FORM, FRD, GS, GGG, HLIT, HIG, HOLX, HD, DHI, HOV, INFN, TILE, IVC, NVTA, KSS, LH, LANC, LNC, RAMP, MHO, M, MAN, MRO, MCHX, MTRN, MDC, MRK, MS, MYGN, NFG, NEU, NEE, NXGN, JWN, OUT, PKE, PINC, PFG, PRU, PHM, RL, RGS, RGA, SAIA, SCHW, SIGI, SMTC, SR, SXI, SSYS, TPX, TDC, TJX, V, WSM, IAI, IYK, IYC, IHE, IDU, DDM, FXI, IAT, IYF, EWH, EIS, EWI, EWW, EPP, THD, TUR, PXJ, PHO, XLY, XLF, XHB. Clink this link for details (pattern type, start and end dates).

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

The below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Shoe1. Shoe
2. Retail (Special Lines)2. Petroleum (Producing)
3. Human Resources3. Human Resources
4. Securities Brokerage4. Securities Brokerage
5. Computers and Peripherals5. Computers and Peripherals
6. Petroleum (Producing)6. Apparel
7. Advertising7. Advertising
8. Retail Store8. Homebuilding
9. Furn/Home Furnishings9. Cement and Aggregates
10. Cement and Aggregates10. Information Services
Best Performing AboveWorst Performing Below
50. Electric Utility (East)50. Electric Utility (Central)
51. Medical Services51. Chemical (Basic)
52. Investment Co. (Foreign)52. Electronics
53. Telecom. Equipment53. Electric Utility (East)
54. Electronics54. Investment Co. (Foreign)
55. Chemical (Basic)55. Telecom. Equipment
56. Oilfield Svcs/Equipment56. Retail (Special Lines)
57. Household Products57. Household Products
58. Healthcare Information58. Healthcare Information
59. Chemical (Specialty)59. Chemical (Specialty)
60. Short ETFs60. Short ETFs

-- Thomas Bulkowski

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Friday 8/6/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 104 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AYI, ADTN, ALL, DOX, AMED, AIG, ABC, APOG, AIZ, BLL, BERY, BKH, BKNG, BRKS, CX, CNC, CENX, CRL, CL, CMTL, CCRN, CTS, DHR, XRAY, ^DJT, ^DJI, DUK, EBAY, WIRE, EPAM, EZPW, FB, FDS, FOE, FLEX, FLS, FMC, FORM, FRD, GIS, GPRO, GGG, HBI, HOLX, HD, HUBG, NSP, IVC, JBLU, KELYA, KLIC, LH, LRCX, LAMR, LANC, LLY, LMT, MRO, MCHX, MRTN, MTRN, MRK, MLHR, MYGN, NCR, NEE, NUS, NVDA, OMC, POR, DGX, SMG, SEIC, SRE, SMTC, SCCO, SCS, SSYS, SRDX, TER, VC, WMT, WDAY, IYC, IDU, IAT, SLV, EWA, EWK, EWH, EWP, THD, PEJ, USO. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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.

There were 25 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 4.4%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

I found 1 pipe bottom chart patterns, which is neutral. High numbers of pipe bottoms can signal a bullish move (I see many of them just before a bear market ends or during a bear market rally. Often it means the first bottom of a double bottom has formed. Thus, expect a move down to the second bottom).

Excluding ETFs, there were 15 bullish chart patterns this week and 3 bearish ones with any remaining (8) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bullish (up) turn.

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

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
AMEDDead-cat bounce      08/05/202108/05/2021Medical Services
AMATBroadening top      06/04/202108/02/2021Semiconductor Cap Equip.
BECNRoof, inverted      06/24/202108/05/2021Retail Building Supply
BRKSTriangle, ascending      07/12/202108/05/2021Semiconductor Cap Equip.
CENXDead-cat bounce      08/05/202108/05/2021Metals and Mining (Div.)
CHSTriangle, symmetrical      06/18/202108/05/2021Apparel
CINFRectangle bottom      06/18/202108/05/2021Insurance (Prop/Casualty)
DFSTriangle, ascending      07/08/202108/03/2021Financial Services
DTriangle, symmetrical      07/14/202108/05/2021Electric Utility (East)
FORMBroadening bottom      06/04/202108/05/2021Semiconductor
GISDouble Top, Adam and Adam      07/27/202108/03/2021Food Processing
HOLXRounding bottom      04/19/202108/04/2021Medical Supplies
KLICTriangle, ascending      07/14/202108/04/2021Semiconductor Cap Equip.
LXUFlag, high and tight      07/19/202108/02/2021Building Materials
MROBroadening top, right-angled and descending      07/21/202108/05/2021Petroleum (Integrated)
MCHXDouble Bottom, Adam and Adam      07/27/202108/03/2021Advertising
MTRNPipe bottom      07/19/202107/26/2021Metals and Mining (Div.)
NEERounding bottom      04/16/202108/05/2021Electric Utility (East)
OGERoof, inverted      06/28/202108/05/2021Electric Utility (Central)
DGXRounding bottom      05/10/202107/30/2021Medical Services
RGAHead-and-shoulders complex bottom      07/08/202108/03/2021Insurance (Life)
SWXTriangle, symmetrical      07/16/202108/02/2021Natural Gas (Distributor)
SSYSHead-and-shoulders bottom      07/19/202108/03/2021Electronics
TXNRoof, inverted      06/29/202108/05/2021Semiconductor
WSMTriangle, symmetrical      05/27/202108/05/2021Retail (Special Lines)
XELTriangle, symmetrical      07/19/202108/05/2021Electric Utility (West)

 

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Thursday 8/5/21. Intraday Market Direction: Nasdaq

The index climbed by 0.1% or 19.24 points. Since 02/05/1971 the index made 719 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 400 occasions.
     Average loss was -0.8% on 319 occasions.
Expect the index to close higher 55.6% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 223/390 or 57.2% of the time.
     The prediction of the index closing lower has been right 58/122 or 47.5% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

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

What caught my eye first was the red trendline. I thought it would connect the bottoms nicely, but it didn't. I had to warp it so it's a curving trendline (A).

At B, a small double bottom appears. This confirms when the index closes above the peak between the two bottoms. Price continues to rise far enough to exceed the measure rule target. The measure rule is the height of the pattern added to (or for downward breakouts...subtracted from) the breakout price.

At C we see a small double top. This one also confirms but barely declines to its measure rule target.

Now look at that big dip at B. It's well below the trendline A. If you measure the distance from the trendline down to B and add it to D, you'll get close to C. In other words, the big trendline drop can mirror a rise above the trendline (once it recovers). It's a way of helping you determine another price target. In this case, it works (or almost does).

$ $ $

Here's a symbol list of 99 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ALKS, DOX, AEO, AMGN, ADM, AVNT, BBBY, BKH, BRKS, BBW, BG, CALM, CHKP, CSCO, CGNX, CMTL, COTY, CROX, CSGS, CTS, XRAY, ^DJI, DRQ, EBAY, WIRE, XOM, FB, FDS, FIS, FMC, FORM, GIS, GL, GES, HSC, HQY, HL, HSY, HOLX, JBHT, INCY, ISRG, IVC, KBAL, KLAC, LANC, LDOS, LMT, MRO, MRTN, MLM, MTRN, MRK, MUR, NOV, NEE, PTEN, PETS, PNW, RJF, RGA, RCKY, SMG, SMTC, SKX, TER, TZOO, TG, UNM, IEZ, IHE, ICF, IYZ, SOXX, SLV, EWA, EWG, EWI, EWW, EWS, EWY, EWD, EWL, EWT, TUR, EWU, PBE, PXJ, XAR, UNG, SMH. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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© 2021 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  13,919.96    
 Monthly S1  14,350.24  430.29   
 Weekly S2  14,356.09  5.85   Yes! The Weekly S2 is close to the Monthly S1.
 Weekly S1  14,568.31  212.22   
 Monthly Pivot  14,606.95  38.64   
 Daily S2  14,697.42  90.48   
 Weekly Pivot  14,715.98  18.56   
 Low  14,734.12  18.14   
 Daily S1  14,738.98  4.86   Yes! The Daily S1 is close to the Low.
 Open  14,747.21  8.23   
 61.8% Down from Intraday High  14,764.01  16.80   
 50% Down from Intraday High  14,773.25  9.23   
 Daily Pivot  14,775.67  2.43   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 Close  14,780.53  4.86   Yes! The Close is close to the Daily Pivot.
 38.2% Down from Intraday High  14,782.48  1.95   Yes! The 38.2% Down from Intraday High is close to the Close.
 High  14,812.37  29.89   
 Daily R1  14,817.23  4.86   Yes! The Daily R1 is close to the High.
 Daily R2  14,853.92  36.70   
 Weekly R1  14,928.20  74.28   
 Monthly R1  15,037.23  109.03   
 Weekly R2  15,075.87  38.64   
 Monthly R2  15,293.94  218.07   

Wednesday 8/4/21. A Look At Indicators

Picture of the chart pattern indicator

This is a picture of the chart pattern indicator on the daily scale. The indicator is the line chart below a chart of the S&P 500 composite.

The indicator took a slight dip during this past week but it recovered. However the wave can change for up to a week, so the analysis might be flawed. It does suggests that the only direction left is to drop. And that would be bad for the market.

Of course, it's a market drop that's going to pull the indicator down, not the other way around. Regardless, a bullish signal remains intact on this chart.

Picture of the percent down indicators

The red line is the percentage of stocks at least 20% below their 1-year high (plotted upside down). The blue line is the average percentage drop of stocks below their 1-year high (plotted upside down).

Shown as a red line on the above chart...
On Tuesday, 20% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 23%.
The fewest was 8% on 03/15/2021.
And the most was 58% on 09/23/2020.
Shown as a blue line on the above chart...
The 464 stocks in my database are down an average of 12% from their yearly high.
A week ago, the average was 13%.
The peak was 8% on 03/15/2021.
And the bottom was 27% on 09/23/2020.

The more sensitive of the two lines, which is the red one, is still trying to recover from the large drop in mid July.

Both the red and blue lines report progress in turning more bullish than they were a week ago.

Together, the two charts are bullish. The CPI can go sideways but it's likely to see the market drop in the coming weeks. This chart shows there a lot of upward potential left. It sounds like a contradiction. Maybe it means we'll retrace in the short term (a week or two) but resume climbing going into September.

$ $ $

Here's a symbol list of 109 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ATSG, ADS, DOX, AEO, AEL, ADM, BCPC, BKH, BBW, CALM, CLS, CX, CENX, CHKP, CVX, CLX, CMTL, CTS, XRAY, DDS, EBAY, XOM, FFIV, FB, FDS, FAST, FIS, FISV, FIVN, IT, GIS, GPN, GPRO, THG, HLIT, HQY, HP, HOLX, IIIN, IBKR, IPI, LANC, LEG, LNC, M, MRO, MTRN, MUR, MYGN, NFG, NEE, NI, NOC, OMI, PANW, PTEN, PNW, PEG, QCOM, DGX, RL, RMBS, RJF, RGS, RGA, RES, SAIA, SLB, SMG, SEE, SMTC, SHW, SKX, SWN, SRDX, TFX, TDC, RIG, TREX, UGI, UNM, VLO, WAT, WSO, WU, WMB, ITA, IYE, IEZ, IDU, IYZ, EWO, EWZ, EEM, EPP, PXJ, PHO, XLE, XAR. Clink 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

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Tuesday 8/3/21. Slider Trading Quiz! Blyth: BTH

The index dropped by -0.3% or -97.31 points. Since 10/01/1928 the index made 1065 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.5% on 503 occasions.
     Average loss was -0.7% on 562 occasions.
Expect the index to close lower 52.8% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 228/405 or 56.3% of the time.
     The prediction of the index closing lower has been right 42/87 or 48.3% of the time.

$ $ $

I show another slider trading quiz featuring Blyth: BTH.

$ $ $

Here's a symbol list of 149 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ADBE, ADTN, APD, ATSG, AA, ALKS, ADS, AMZN, AEL, AFG, AIG, APOG, AWI, AIZ, AVNT, BCPC, BAH, EPAY, BRC, BG, CBT, COG, CDNS, CALM, CAL, CE, CLS, CVX, CLNE, CLF, CNA, CAG, CLR, GLW, CR, CROX, CCRN, CSGS, DHR, DDS, ^DJT, EBAY, EMR, EFX, RE, FB, FDS, FAST, FIS, FE, FISV, FMC, FORM, FWRD, FDP, FRD, GE, GPN, GS, GFF, GES, THG, HQY, HSY, HOLX, HD, HON, HOV, ITGR, IVC, KFRC, LOW, LXU, M, MAN, MRTN, MA, MTRN, MOS, MLI, MYGN, NTGR, NWL, NXGN, NKE, NVDA, ASGN, OUT, PKG, PYPL, PFE, PICO, PLXS, QCOM, DGX, RNG, ROST, ^GSPC, SMG, SLGN, TGT, TFX, TDC, TXT, TMO, TJX, TOL, TG, VLO, VMI, WERN, WU, IYM, IAI, IYC, IHE, DDM, FDN, IYZ, SOXX, EWO, EWK, EWZ, EWC, EWG, EIS, EWD, EWL, TUR, PHO, ROBO, SSO, XLP, XLI, XLB, SPY, SMH, VIS, VAW. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2021 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  33,154.05    
 Monthly S1  33,996.11  842.05   
 Daily S2  34,562.25  566.14   
 Monthly Pivot  34,583.81  21.57   Yes! The Monthly Pivot is close to the Daily S2.
 Weekly S2  34,659.88  76.07   
 Daily S1  34,700.20  40.32   
 Weekly S1  34,749.02  48.82   
 Low  34,808.20  59.18   
 Close  34,838.16  29.96   Yes! The Close is close to the Low.
 Daily Pivot  34,946.16  108.00   
 61.8% Down from Intraday High  34,954.86  8.70   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 Weekly Pivot  34,960.27  5.41   Yes! The Weekly Pivot is close to the 61.8% Down from Intraday High.
 Open  34,968.56  8.29   Yes! The Open is close to the Weekly Pivot.
 50% Down from Intraday High  35,000.16  31.60   Yes! The 50% Down from Intraday High is close to the Open.
 38.2% Down from Intraday High  35,045.46  45.30   
 Weekly R1  35,049.41  3.95   Yes! The Weekly R1 is close to the 38.2% Down from Intraday High.
 Daily R1  35,084.11  34.70   Yes! The Daily R1 is close to the Weekly R1.
 High  35,192.11  108.00   
 Weekly R2  35,260.66  68.55   
 Daily R2  35,330.07  69.41   
 Monthly R1  35,425.87  95.80   
 Monthly R2  36,013.57  587.71   

Monday 8/2/21. 2021 Forecast Update

My Prediction

Here's the updated 2021 forecast for August, presented in slider format.

Based on sector performance from Fidelity, the best performing sectors for one-year performance as of 29 July 2021 were... (The numbering is how they ranked a month ago.)

2. Financials (+53%)
4. Communication services (+46%)
6. Information technology (+45%)
5. Industrials (+45%)
7. Materials (+37%)
1. Energy (+36%)
9. Consumer discretionary (+32%)
3. Real estate (+30%)
8. Health care (+25%)
10. Consumer staples (+15%)
11. Utilities (+10%)

This month, someone shook up the list, but it's really not that bad. The prior list was year to date and this is for a full year. That means the prior month's ranking if muffed up.

The folks at two firms polled by Fidelity weigh the sectors in this order.

1. Information technology
2. Health care
3. Consumer discretionary
5. Communication services
4. Financials
6. Industrials
7. Consumer staples
10. Real estate
8. Energy
9. Materials
11. Utilities

This month we see communication services and real estate moving up.

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 7/29. The numbering is how they ranked a month ago but that was based on year-to-date performance. This list is for full year performance.

3. Real estate management and development (128%)
2. Consumer finance (+112%)
(new). Auto components (+82%)
(new). Construction and engineering (+76%)
7. Building products (73%)
(new). Personal products (72%)
(new). Textiles, apparel and luxury goods (71%)
(new). Multiline retail (62%)
(new). Construction materials (61%)
9. Banks (+61%)

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A Brief Look Back

The following is a brief review of how the markets performed over time. The numbers refer to the close-to-close move in the Dow industrials.

Monday: Up 82.76 points.
Tuesday: Down 85.79 points.
Wednesday: Down 127.59 points.
Thursday: Up 153.6 points.
Friday: Down 149.06 points.

For the Week...

The Dow industrials were down 126.08 points or 0.4%.
The Nasdaq composite was down 164.31 points or 1.1%.
The S&P 500 index was down 16.53 points or 0.4%.

Year to Date...

Dow Industrials
     0.7% down from the high of 35,171.52 on 07/29/2021.
     17.0% up from the low of 29,856.30 on 01/29/2021.
Nasdaq
     1.3% down from the high of 14,863.65 on 07/26/2021.
     18.4% up from the low of 12,397.05 on 03/05/2021.
S&P 500
     0.8% down from the high of 4,429.97 on 07/29/2021.
     20.0% up from the low of 3,662.71 on 01/04/2021.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  34,736  34,836  34,971  35,071  35,206 
Weekly  34,692  34,814  34,993  35,114  35,293 
Monthly  33,186  34,061  34,616  35,491  36,046 
S&P500 (^GSPC): Daily  4,376  4,386  4,399  4,408  4,422 
Weekly  4,342  4,369  4,399  4,426  4,457 
Monthly  4,156  4,276  4,353  4,472  4,550 
Nasdaq (^IXIC): Daily  14,560  14,616  14,672  14,729  14,785 
Weekly  14,320  14,496  14,680  14,856  15,040 
Monthly  13,884  14,278  14,571  14,965  15,258 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season is either underway or should be starting soon. The sessions could be more volatile.

Here's a symbol list of 76 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ATSG, AKAM, AA, ADS, AMZN, AEP, AXP, AIG, ANIK, APOG, AVNT, AVA, BIO, BKH, BAH, EPAY, BG, CDNS, CAL, CRL, CVX, CLX, CL, CLR, COST, CROX, CCRN, CSGS, DECK, XRAY, RE, XOM, FISV, GS, HOLX, HON, HOV, ITGR, IPAR, JCOM, KMT, KLAC, LH, LAWS, MA, MDT, MGEE, MLI, NVDA, OUT, PDCO, PYPL, PETS, PG, PEG, DGX, RL, RLI, SRE, TPR, TDC, TOL, VFC, IAI, EWK, EWZ, EWL, DBA, XLV. Clink this link for details (pattern type, start and end dates).

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

The below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Shoe1. Retail (Special Lines)
2. Petroleum (Producing)2. Petroleum (Producing)
3. Human Resources3. Shoe
4. Securities Brokerage4. Computers and Peripherals
5. Computers and Peripherals5. Retail Store
6. Apparel6. Advertising
7. Advertising7. Financial Services
8. Homebuilding8. Human Resources
9. Cement and Aggregates9. Information Services
10. Information Services10. Securities Brokerage
Best Performing AboveWorst Performing Below
50. Electric Utility (Central)50. Metal Fabricating
51. Chemical (Basic)51. Metals and Mining (Div.)
52. Electronics52. Chemical (Basic)
53. Electric Utility (East)53. Household Products
54. Investment Co. (Foreign)54. Investment Co. (Foreign)
55. Telecom. Equipment55. Semiconductor
56. Retail (Special Lines)56. Electronics
57. Household Products57. Healthcare Information
58. Healthcare Information58. Telecom. Equipment
59. Chemical (Specialty)59. Chemical (Specialty)
60. Short ETFs60. Short ETFs

-- Thomas Bulkowski

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Chart Patterns: After the Buy Getting Started in Chart Patterns, Second Edition Trading Basics Fundamental Analysis and Position Trading Swing and Day Trading Encyclopedia of Candlestick Charts Trading Classic Chart Patterns

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