Written and copyright © 2012 by Thomas N. Bulkowski. All rights reserved.

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Tuesday 2/28/12. Trading Tuesday: Dow

I show a picture of the Dow industrials on the 5-minute scale from Monday's trading.

An inverted and ascending scallop appears at C and D. I don't follow that pattern because they are as numerous as ants at a picnic. But in this case, it makes money.

A double top appears at AB but it is difficult to determine if the pattern confirmed as valid. The index has to close below the red line (the lowest valley between the two peaks). If it confirmed, this pattern would have lost money.

The last pattern is a rectangle top, at E, shown in blue. It gives an important clue to how the index will trade tomorrow. This pattern sets up overhead resistance which price has closed below. Thus, I expect the index to close lower tomorrow. However, the probabilities above, suggest a higher close. One of these predictions should be correct.

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

-- Thomas Bulkowski

Monday 2/27/12. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Economic Reports
• Options Expiration
• Swing and Position Traders: Chart Pattern Indicator
• Swing Traders: Pivot Points
• Consecutive Price Trends
• Buy-and-Hold: 12-Month SMA
• Earnings, Chart Patterns & Industries

My Prediction

I am still expecting the indices to retrace their gains since mid December, but do not see a sign of that happening yet. With the price of oil climbing (gas prices, too), it's going to hurt the economy, but will take a while to appear in the numbers and scare the s^%* out of everyone.

The Dow Utilities have formed an ascending triangle and those breakout upward most often. The transports have almost touched a 50% retrace mark, so they are also primed to rise.

I show a pic of the Nasdaq where a 38% retrace of the move up from A to B would be.

The only hint of a trend change is from the most recent two candles. They form a bearish doji star candle pattern. This could develop into a evening doji star. Those act as bearish reversals 71% of the time.

See my book, Encyclopedia of Candlestick Charts for more information on both candlestick patterns.

A Brief Look Back

The following are economic reports that moved the markets last week. The numbers refer to the close-to-close move in the Dow industrials.

For the Week...

Year to Date...

Economic Reports

The following information is derived from yahoo!finance and sometimes Bloomberg.com with times local to the east coast.

Report	Time	A-F Rating	Description
Durable goods orders	8:30 T	B	Measures orders, shipments of goods with lifespans >3 years.
Consumer confidence	10:00 T	B-	Surveys 5,000 households for trends.
Gross domestic product	8:30 W	B	Measures economic activity; GDP deflator measures inflation.
Chicago purchasing managers index	9:45 W	B	Monitors regional manufacturing activity.
Crude inventories	10:30 W	?	My guess: Measures oil inventory.
FEDs Beige book	2:00 W	?	Reports on economic conditions.
Initial jobless claims	8:30 Th	C+	Counts people filing for state unemployment benefits.
Personal income & consumption	8:30 Th	C+	Measures sources of income to predict future demand.
Construction spending	10:00 Th	D	Covers residential/non-residential/public spending on new construction.
Auto & truck sales	2:00 Th	C-	Monthly sales of domestically produced vehicles.

Options Expiration

No options expire this week.

Swing and Position Traders: Chart Pattern Indicator

As of 02/24/2012, the CPI had:

The chart pattern indicator is bullish with 3 of 3 full triangles showing (). Additional triangles are a measure of strength with solid triangles meaning a more reliable signal than half triangles.

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.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Consecutive Price Trends

How long can an index close higher (or lower) each day? The adjacent table shows how often consecutive up or down closes occur in the indexes, based on the most recent trend of closes.

Low percentages suggest the market is overdue to turn (think of it as the likelihood that next week or next month will continue the trend, based on historical performance). Values of 50% mean random, so most percentages will be lower.

The analysis uses data going back 10 years for weekly percentages and 25 years for monthly percentages (or the start of data, whichever is more recent). Any unchanged closing price is interpreted as the end of the string of consecutive up or down closes.

Buy-and-Hold: 12-Month SMA

Earnings, Chart Patterns & Industries

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

Large numbers of bullish or bearish chart patterns can signal short- to intermediate-term market trends (many bullish chart patterns can mean an uptrend will continue, for example). However, please realize that the short-term price trend could have changed since the pattern was discovered (this is especially true of pipe tops or bottoms, which are weekly patterns).

The 10 types of most frequently appearing chart patterns in the stocks, indexes, and long-only exchange traded funds I follow during the last month are shown in the adjacent table.

The following industries, of 52 that I follow, were the best (1) and worst (52) performing.

-- Thomas Bulkowski

Thursday 2/23/12. Trading Thursday: Nasdaq

I show a picture of the Nasdaq composite on the 5-minute scale from Wednesday's trading.

Early in the session, a head-and-shoulders top appeared, which was unusual because it occurred early in the day. The head-and-shoulders did not fulfill the measure rule for the pattern. That is somewhat unusual, too.

In the afternoon, a double top materialized. It lead to a profitable decline for those willing to short the index.

The above numbers suggest a lower close in the Nasdaq tomorrow. However, the index is resting on support that you can see when you switch to the 10-day chart (and at 2930 on the above pic). I get the feeling that the index will close higher, so that is the way I am going to bet. Often, when I have gone against the numbers, the numbers have been right, so keep that in mind. I feel that support will be sufficient to stop the decline. And with Greece turning around, it could help boost the markets. However, Iran is a thorn that is going to get worse. I think, longer term, that Iran will be the catalyst that takes the market down significantly.

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

-- Thomas Bulkowski

Tuesday 2/21/12. Market Monday on Tuesday: The Week Ahead

• My Prediction
• A Brief Look Back
• Economic Reports
• Options Expiration
• Swing and Position Traders: Chart Pattern Indicator
• Swing Traders: Pivot Points
• Consecutive Price Trends
• Buy-and-Hold: 12-Month SMA
• Earnings, Chart Patterns & Industries

My Prediction

I show the Dow industrials on the weekly scale for a longer term view.

If you are an Elliott Wave lover, and I'm not, then this interpretation may interest you. Elliott says that motive waves move in a series of three advancing waves and two counter trend ones, for a total of five. I show the advancing waves on the chart as 1, 3, 5 and counter trend waves 2 and 4.

One of the rules is that wave 4 never overlaps wave 1, but that's not what my picture shows. Thus, my interpretation is flawed.

After the motive wave ends, a corrective wave begins. This is the ABC down move (not shown). A and C are waves down and B is an up wave. In other words, after the 5-wave move ends, a correction begins. How close is that to happening?

I show a series of blue lines starting from the peaks in 2007. Those peaks are locations of overhead resistance. The closer the lines are to one another, the more significant is the resistance. Thus, there's a bunch of it overhead.

When you combine those two interpretations, Elliott and resistance, this up trend may not continue much beyond 14,000. Of course, that's still 1,000 points away. We could see weakness set in anytime between where we are now and the top blue line on the chart. If my 2012 prediction is correct, then we should see weakness starting near the beginning of March.

I think that is likely, so I am not buying any long-term positions here. In fact, I'm worried about my long-term holdings, so I'm looking at taking profits or placing/tightening stops.

A Brief Look Back

The following are economic reports that moved the markets last week. The numbers refer to the close-to-close move in the Dow industrials.

For the Week...

Year to Date...

Economic Reports

The following information is derived from yahoo!finance and sometimes Bloomberg.com with times local to the east coast.

Report	Time	A-F Rating	Description
Existing home sales	10:00 W	C	Counts sales of used homes.
Initial jobless claims	8:30 Th	C+	Counts people filing for state unemployment benefits.
Crude inventories	11:00 Th	?	My guess: Measures oil inventory.
Michigan sentiment	9:55 F	B-	Consumer sentiment: Measures strength of consumer spending.
New home sales	10:00 F	C+	Shows sales of single-family homes.

Options Expiration

No options expire this week. Market holiday on Monday.

Swing and Position Traders: Chart Pattern Indicator

As of 02/17/2012, the CPI had:

The chart pattern indicator is bullish with 3 of 3 full triangles showing (). Additional triangles are a measure of strength with solid triangles meaning a more reliable signal than half triangles.

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.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Consecutive Price Trends

How long can an index close higher (or lower) each day? The adjacent table shows how often consecutive up or down closes occur in the indexes, based on the most recent trend of closes.

Low percentages suggest the market is overdue to turn (think of it as the likelihood that next week or next month will continue the trend, based on historical performance). Values of 50% mean random, so most percentages will be lower.

The analysis uses data going back 10 years for weekly percentages and 25 years for monthly percentages (or the start of data, whichever is more recent). Any unchanged closing price is interpreted as the end of the string of consecutive up or down closes.

Buy-and-Hold: 12-Month SMA

Earnings, Chart Patterns & Industries

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

Large numbers of bullish or bearish chart patterns can signal short- to intermediate-term market trends (many bullish chart patterns can mean an uptrend will continue, for example). However, please realize that the short-term price trend could have changed since the pattern was discovered (this is especially true of pipe tops or bottoms, which are weekly patterns).

The 10 types of most frequently appearing chart patterns in the stocks, indexes, and long-only exchange traded funds I follow during the last month are shown in the adjacent table.

The following industries, of 52 that I follow, were the best (1) and worst (52) performing.

-- Thomas Bulkowski

Thursday 2/16/12. Trading Thursday: Nasdaq

I show a picture of the Nasdaq composite on the 5-minute scale from Wednesday's trading.

A broadening top pattern appears near the open, but those are difficult to trade since the breakout price is not well defined. A double top at AB provides a better opportunity. A short of the index when it closed below the horizontal blue line would have been a profitable play. For the exit, the measure rule for the pattern (which is the height subtracted from the bottom of the pattern), fills by day's end.

I think that the indices have reached an inflection point. That means I expect them to roll over and head down. I have changed my targets on two of them (see top of this page) and I could flip the others if they show signs of a downturn.

For tomorrow (Thursday), I expect a move up in the morning to about 2935 (which is the corrective phase of a measured move down). After that, I expect the index to head lower. However, there is underlying support in the index at today's (Wednesday's) low. Whether the index will close lower is a tough call but the probabilities suggest that it will.

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

-- Thomas Bulkowski

Tuesday 2/14/12. Trading Tuesday: Dow

I released new research that might help day traders. Click on the link for the complete story.

It describes when in the trading day a stock is most likely to hit the day's high or low. Most often, it happens within the first minute (a frequency distribution of over 60,000 samples shows the first minute has the highest frequency).

Almost half the time it happens within the first hour.

Again, click the above research for more details.

$ $ $

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

-- Thomas Bulkowski

Monday 2/13/12. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Economic Reports
• Options Expiration
• Swing and Position Traders: Chart Pattern Indicator
• Swing Traders: Pivot Points
• Consecutive Price Trends
• Buy-and-Hold: 12-Month SMA
• Earnings, Chart Patterns & Industries

My Prediction

I show the Dow transports on the daily scale. Could it show the future direction of the other indices?

Maybe.

I have been expecting a retrace of the upward move for several weeks now. I changed my targets from down to up in recognition to the continued move upward. However, that could be changing if the index is correct. It has been falling for several days now.

It is still too early to tell whether the other indices will follow this one and if so, how severe the drop may be. Often, the retrace is a Fibonacci number, like 38% of the move up from the December low.

I am not going to make a prediction. Rather, I still show the indices moving higher in the short term until I feel more confident of the new direction.

A Brief Look Back

The following are economic reports that moved the markets last week. The numbers refer to the close-to-close move in the Dow industrials.

For the Week...

Year to Date...

Economic Reports

The following information is derived from yahoo!finance and sometimes Bloomberg.com with times local to the east coast.

Report	Time	A-F Rating	Description
Retail sales	8:30 T	A-	Reports total retail sales (not services). Are people spending?
International trade	8:30 T	C+	Import/export prices, trade balance. US economy vs others.
Business inventories	10:00 T	C-	Reports manufacturing, wholesale, retail inventories.
Industrial production	9:15 W	B-	Production of utilities, mines, and manufacturers.
Capacity utilization	9:15 W	B-	Gauges economic activity, hints of inflation.
Crude inventories	10:30 W	?	My guess: Measures oil inventory.
FOMC Minutes	2:00 W	?	Minutes of the prior Federal Reserve meeting.
Initial jobless claims	8:30 Th	C+	Counts people filing for state unemployment benefits.
Housing starts	8:30 Th	B-	Number of homes beginning construction.
Building permits	8:30 Th	B-	Measures building permits for new construction.
Producer price index	8:30 Th	B-	Measures wholesale goods cost. An indication of future inflation.
Consumer price index	8:30 F	B+	Inflation report. Measures cost of goods and services.
Leading indicators	10:00 F	D-	Summary of already known reports.

Options Expiration

The following is courtesy of the Options Industry Council.

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

Swing and Position Traders: Chart Pattern Indicator

On 02/10/2012, the CPI had:

The chart pattern indicator is bearish with 2 of 3 half triangles showing (). Additional triangles are a measure of strength with solid triangles meaning a more reliable signal than half triangles.

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.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Consecutive Price Trends

How long can an index close higher (or lower) each day? The adjacent table shows how often consecutive up or down closes occur in the indexes, based on the most recent trend of closes.

Low percentages suggest the market is overdue to turn (think of it as the likelihood that next week or next month will continue the trend, based on historical performance). Values of 50% mean random, so most percentages will be lower.

The analysis uses data going back 10 years for weekly percentages and 25 years for monthly percentages (or the start of data, whichever is more recent). Any unchanged closing price is interpreted as the end of the string of consecutive up or down closes.

Buy-and-Hold: 12-Month SMA

Earnings, Chart Patterns & Industries

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

Large numbers of bullish or bearish chart patterns can signal short- to intermediate-term market trends (many bullish chart patterns can mean an uptrend will continue, for example). However, please realize that the short-term price trend could have changed since the pattern was discovered (this is especially true of pipe tops or bottoms, which are weekly patterns).

The 10 types of most frequently appearing chart patterns in the stocks, indexes, and long-only exchange traded funds I follow during the last month are shown in the adjacent table.

The following industries, of 52 that I follow, were the best (1) and worst (52) performing.

-- Thomas Bulkowski

Thursday 2/9/12. Trading Thursday: Nasdaq

I don't show the Nasdaq today nor do I make a prediction. Instead, I refer you to a new article I posted today on the best way to buy a stock after a throwback to a chart pattern.

It says that the best time to buy is when price returns to the top of the chart pattern or breakout price. That is also the best time to buy regardless of a throwback that might or might not appear.

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

-- Thomas Bulkowski

Tuesday 2/7/12. Trading Tuesday: Dow

I show a picture of the Dow industrials on the 5-minute scale from Monday's trading.

A potential double top appears at AB but the index does not appear to close below the low at C (red line) to confirm the chart pattern as valid. I did not check the individual candles to verify this, but visually, it appears to not confirm. That is good news since the index went up and not down.

A double bottom, at CD confirmed when the index closed above confirmation at E (a close above the blue line). Of course, the downward move leading to the double bottom isn't really downward at all, but sideways. In fact, now that I have the chart already done, the best pattern looks like a rectangle from about 10 a.m. to E.

Anyway, the sideways move should act as a support area tomorrow, but I have found these patterns to not be reliable from one day to the next.

An upward move is going to prove tough sledding since overhead resistance setup by Friday's action looks formidable. Nevertheless, I expect a higher close.

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

-- Thomas Bulkowski

Monday 2/6/12. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Economic Reports
• Options Expiration
• Swing and Position Traders: Chart Pattern Indicator
• Swing Traders: Pivot Points
• Consecutive Price Trends
• Buy-and-Hold: 12-Month SMA
• Earnings, Chart Patterns & Industries

My Prediction

I show the S&P 500 index on the weekly scale.

Much to my surprise, the indices have broken out upward from the recent consolidation region to move higher. If the forecast pans out, then this should be a good month but it will spell the top for the year. I have a hard time believing that, but that is what the forecast says.

Since January was an up month, it could be that the forecast has been advanced by a month, and that we will peak soon, ahead of the March decline.

The chart shows overhead resistance at the red lines created by a head-and-shoulders top, a very nice one, too.

Looking forward, a war with Iran could disrupt oil supplies and take the fun out of this year. The overhead resistance shown on the chart suggests that the upward run will be ending soon.

It is possible that the good economic news will continue, that Europe's debt problems will fade, that Iran will make nice with its neighbors, and the index will continue to make new highs. Perhaps it will be a combination. The index will close above the top red line but then turn down. These uphill, straight-line runs can last longer than anyone expects, just like it did last time (Nov 2010).

A Brief Look Back

The following are economic reports that moved the markets last week. The numbers refer to the close-to-close move in the Dow industrials.

For the Week...

Year to Date...

Economic Reports

The following information is derived from yahoo!finance and sometimes Bloomberg.com with times local to the east coast.

Report	Time	A-F Rating	Description
Consumer credit	3:00 T	D-	Measures auto, credit card and other debt.
Crude inventories	10:30 W	?	My guess: Measures oil inventory.
Initial jobless claims	8:30 Th	C+	Counts people filing for state unemployment benefits.
Wholesale inventories	10:00 Th	D-	Wholesale sales and inventory statistics.
Trade balance	8:30 F	C+	Signals balance of exports & imports.
Treasury budget	2:00 F	D	Tracks budget deficit. Important in April (tax filing).

Options Expiration

No options expire this week.

Swing and Position Traders: Chart Pattern Indicator

As of 02/03/2012, the CPI had:

The chart pattern indicator is bullish with 3 of 3 full triangles showing (). Additional triangles are a measure of strength with solid triangles meaning a more reliable signal than half triangles.

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.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Consecutive Price Trends

How long can an index close higher (or lower) each day? The adjacent table shows how often consecutive up or down closes occur in the indexes, based on the most recent trend of closes.

Low percentages suggest the market is overdue to turn (think of it as the likelihood that next week or next month will continue the trend, based on historical performance). Values of 50% mean random, so most percentages will be lower.

The analysis uses data going back 10 years for weekly percentages and 25 years for monthly percentages (or the start of data, whichever is more recent). Any unchanged closing price is interpreted as the end of the string of consecutive up or down closes.

Buy-and-Hold: 12-Month SMA

Earnings, Chart Patterns & Industries

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

Large numbers of bullish or bearish chart patterns can signal short- to intermediate-term market trends (many bullish chart patterns can mean an uptrend will continue, for example). However, please realize that the short-term price trend could have changed since the pattern was discovered (this is especially true of pipe tops or bottoms, which are weekly patterns).

The 10 types of most frequently appearing chart patterns in the stocks, indexes, and long-only exchange traded funds I follow during the last month are shown in the adjacent table.

The following industries, of 52 that I follow, were the best (1) and worst (52) performing.

-- Thomas Bulkowski

Thursday 2/2/12. Trading Thursday: Nasdaq

I show a picture of the Nasdaq composite on the 5-minute scale from Wednesday's trading.

The only pattern found in this bullish run is a small double top at AB. It confirmed when the index closed below the red line at D.

Will the index close higher tomorrow? Yes, based on the above probabilities. To be honest, I'd be surprised if it did, so I guess we will have to wait and see.

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

-- Thomas Bulkowski

Written and copyright © 2012 by Thomas N. Bulkowski. All rights reserved.