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Thomas Bulkowski’s successful investment activities allowed him to retire at age 36. He is an internationally known author and trader with 30+ years of stock market experience and widely regarded as a leading expert on chart patterns. He may be reached at

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Bulkowski's Blog: ThePatternSite.com
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Busted
Patterns
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Market
Industrials (^DJI):
Transports (^DJT):
Utilities (^DJU):
Nasdaq (^IXIC):
S&P500 (^GSPC):
As of 12/19/2014
17,805 26.65 0.1%
8,989 36.12 0.4%
613 -0.16 0.0%
4,765 16.98 0.4%
2,071 9.42 0.5%
YTD
7.4%
21.5%
25.1%
14.1%
12.0%
Tom's Targets    Overview: 12/12/2014
18,000 or 16,900 by 01/01/2015
9,300 or 8,500 by 01/01/2015
625 or 580 by 01/01/2015
4,800 or 4,500 by 01/01/2015
2,080 or 1,950 by 01/01/2015
Wilder RSI: -0.1%

Written and copyright © 2014 by Thomas N. Bulkowski. All rights reserved.

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Monday 12/22/14. Pullback in the Transports

My Prediction

Picture of the Dow transports on the daily scale.

I show a picture of the Down transports on the daily scale.

The index sports a diamond top, outlined here in red. At A, the index has pulled back to the price of the breakout, just as well-behaved pullbacks should.

The question now is what happens next?

With diamond tops, the fear is that the quick rise from the low at B to the diamond will reverse. That means a decline all the way back down to not B, but just above B. (It's rare that you get a full retrace.)

Alternatively, the pullback will continue and move to higher ground. That is what you are seeing in the other indices, the Dow utilities, for example. And that is what I expect to happen in the coming week or two. This week, since it's holiday shortened, can be volatile. See my holiday article to find out what happens the day before and after the Christmas holiday, as well as other holidays.

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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 99.99 points.
Tuesday: Down 111.97 points.
Wednesday: Up 288 points.
Thursday: Up 421.28 points.
Friday: Up 26.65 points.

For the Week...

The Dow industrials were up 523.97 points or 3.0%.
The Nasdaq composite was up 111.78 points or 2.4%.
The S&P 500 index was up 68.32 points or 3.4%.

Year to Date...

Dow Industrials
     1.0% down from the high of 17,991.19 on 12/05/2014.
     16.1% up from the low of 15,340.69 on 02/05/2014.
Nasdaq
     0.9% down from the high of 4,810.86 on 11/28/2014.
     20.8% up from the low of 3,946.03 on 04/15/2014.
S&P 500
     0.4% down from the high of 2,079.47 on 12/05/2014.
     19.1% up from the low of 1,737.92 on 02/05/2014.

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Economic Reports

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

ReportTimeA-F
Rating
Description
Existing home sales10:00 MCCounts sales of used homes.
Durable goods orders8:30 TBMeasures orders, shipments of goods with lifespans >3 years.
Gross domestic product8:30 TBMeasures economic activity; GDP deflator measures inflation.
Michigan sentiment9:55 TB-Consumer sentiment: Measures strength of consumer spending.
Personal income & consumption8:30 or 10:00? TC+Measures sources of income to predict future demand.
Personal consumption expenditures8:30 or 10:00? TC+Covers durables, non-durables, and services.
New home sales10:00 TC+Shows sales of single-family homes.
Initial jobless claims8:30 WC+Counts people filing for state unemployment benefits.
Crude inventories10:30 W?My guess: Measures oil inventory.

Options Expiration

No options expire this week.

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Swing and Position Traders: Chart Pattern Indicator

As of 12/19/2014, the CPI had:

2 bearish patterns,
24 bullish patterns,
293 patterns waiting for breakout.
The CPI signal is 92.3%, which is bullish (>= 65%).

The chart pattern indicator is bullish with 1 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.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  17,681  17,743  17,808  17,870  17,936 
Weekly  16,776  17,290  17,582  18,097  18,389 
Monthly  16,698  17,251  17,621  18,175  18,545 
S&P500 (^GSPC): Daily  2,053  2,062  2,070  2,079  2,087 
Weekly  1,935  2,003  2,040  2,108  2,146 
Monthly  1,934  2,002  2,041  2,109  2,148 
Nasdaq (^IXIC): Daily  4,718  4,742  4,762  4,786  4,806 
Weekly  4,463  4,614  4,698  4,849  4,933 
Monthly  4,444  4,605  4,708  4,868  4,971 
  • 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:

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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Consecutive Price Trends

Index Consecutive
Closes So Far 
% Comments 
 Dow industrials (^DJI) 1 week up 43.8%   Expect a random direction. 
 1 month down 19.2%   Expect a reversal soon. 
 S & P 500 (^GSPC) 1 week up 43.1%   Expect a random direction. 
 3 months up 36.2%   The trend may continue. 
 Nasdaq composite (^IXIC) 1 week up 44.2%   Expect a random direction. 
 1 month down 25.3%   The trend may continue. 

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 indices, 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

This indicator warns of an index moving into or out of a bear market. It's based on a 12-month simple moving average of monthly closing prices, so it only changes monthly. See 12-Month Moving Average for more details.
Dow Industrials: bullish.
Nasdaq Composite: bullish.
S&P 500 Index: bullish.
Dow Transports: bullish.
Dow Utilities: bullish.

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Earnings, Chart Patterns & Industries

Earnings season is over.

Mutual funds will begin dividend distributions and rebalancing their portfolios for the approaching year end (starts in late November).

 Found Chart Pattern Name
26Scallop, ascending and inverted
17Triangle, symmetrical
11Head-and-shoulders top
11Pipe top
9Channel
8Diamond top
8Broadening top
7Double Top, Adam and Adam
7Flag
6Broadening top, right-angled and ascending

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, indices, and long-only exchange traded funds I follow during the last month are shown in the adjacent table.

 

 

 

 

The industries I follow were the best (rank 1) and worst performing.

This WeekLast Week
1. Biotechnology1. Biotechnology
2. Medical Supplies2. Air Transport
3. Drug3. Shoe
4. Air Transport4. Electric Utility (West)
5. Securities Brokerage5. Medical Supplies
50. Metal Fabricating50. Cement and Aggregates
51. Petroleum (Integrated)51. Petroleum (Integrated)
52. Natural Gas (Diversified)52. Natural Gas (Diversified)
53. Oilfield Svcs/Equipment53. Oilfield Svcs/Equipment
54. Petroleum (Producing)54. Petroleum (Producing)

-- Thomas Bulkowski

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Friday 12/19/14. Pattern Trading Setups for the Weekend.

Go to Table.

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

Click the link for a list of symbols from the table.

The following patterns were found manually, so the results may differ from those found using Patternz.

There were 40 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 596 stocks searched, or 6.7%. 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 21 bullish chart patterns this week and 9 bearish ones with any remaining (2) 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.

The following tips may help.

  • Look for patterns with unusual breakout directions, such as an ascending triangle with a downward breakout. The unusual breakout direction can suggest a strong run.
  • Busted patterns, where price breaks out in one direction, turns around and then breaks out in the opposite direction can lead to powerful moves.
  • Throwbacks and pullbacks occur about half the time, so be prepared for a retrace after the breakout.
  • Look for underlying support and overhead resistance to help gauge how far price will move after the breakout.

More...

Good luck. -- Thomas Bulkowski

 

Symbol Chart Pattern Bullish
Bearish
Start End Industry
ABTBroadening top, right-angled and ascending      10/31/201412/16/2014Medical Supplies
ADTNTriangle, symmetrical      09/12/201412/17/2014Telecom. Equipment
AEISFlag      12/08/201412/18/2014Semiconductor
ALKTriangle, symmetrical      11/28/201412/16/2014Air Transport
ANNPipe bottom      12/01/201412/08/2014Retail (Special Lines)
APOGScallop, ascending and inverted      10/10/201412/17/2014Building Materials
ARCBBroadening top, right-angled and ascending      11/06/201412/18/2014Trucking/Transp. Leasing
ADMScallop, ascending and inverted      10/27/201412/17/2014Food Processing
BMRNBroadening wedge, ascending      11/03/201412/17/2014Biotechnology
ETHBroadening top      11/21/201412/18/2014Furn/Home Furnishings
FDORising wedge      10/03/201412/18/2014Retail Store
FASTBroadening wedge, ascending      11/12/201412/17/2014Retail Building Supply
FOERectangle top      10/20/201412/18/2014Chemical (Specialty)
FLIRDouble Bottom, Adam and Adam      12/02/201412/17/2014Aerospace/Defense
GDScallop, ascending and inverted      10/15/201412/16/2014Aerospace/Defense
GSPipe top      12/08/201412/08/2014Securities Brokerage
HLITBroadening top      11/06/201412/17/2014Telecom. Equipment
HHSRising wedge      11/13/201412/18/2014Advertising
DHIScallop, ascending and inverted      11/05/201412/16/2014Homebuilding
IEXScallop, ascending and inverted      10/15/201412/17/2014Machinery
INTCScallop, ascending and inverted      11/12/201412/17/2014Semiconductor
LZBBroadening top      11/25/201412/18/2014Furn/Home Furnishings
NBroadening bottom      11/28/201412/18/2014E-Commerce
POLScallop, ascending and inverted      10/13/201412/16/2014Chemical (Specialty)
PFGScallop, ascending and inverted      10/15/201412/16/2014Insurance (Diversified)
PGRScallop, ascending and inverted      10/16/201412/16/2014Insurance (Prop/Casualty)
PEGScallop, ascending and inverted      11/14/201412/16/2014Electric Utility (East)
SXIHead-and-shoulders bottom      12/02/201412/17/2014Diversified Co.
TMOScallop, ascending and inverted      11/18/201412/17/2014Precision Instrument
TGBroadening top, right-angled and ascending      10/31/201412/18/2014Chemical (Specialty)
VRSNScallop, ascending and inverted      10/16/201412/17/2014Internet
XLNXPipe top      12/08/201412/08/2014Semiconductor Cap Equip.
SLVBroadening wedge, ascending      11/14/201412/18/2014Metals and Mining (Div.)
PPHScallop, ascending and inverted      10/16/201412/17/2014Drug
QQQScallop, ascending and inverted      10/15/201412/17/2014Long ETFs
IXNScallop, ascending and inverted      10/15/201412/17/2014Investment Co. (Foreign)
SSOScallop, ascending and inverted      10/15/201412/16/2014Long ETFs
XLPScallop, ascending and inverted      10/16/201412/16/2014Household Products
XLIScallop, ascending and inverted      10/15/201412/17/2014Investment Co. (Domestic)
SPYScallop, ascending and inverted      10/15/201412/16/2014Long ETFs
XLKScallop, ascending and inverted      10/15/201412/16/2014Investment Co. (Domestic)

 

Weekly screen for chart patterns ending between 12/11/2014 and 12/18/2014. Many may be still in development. If no securities appear, then I have not identified any new patterns.

Definitions
RS is relative strength (where 1 is best). For other definitions, see the glossary.
’Breakout is upward/downward 100% of the time’ means price breaks out up/down by definition, not by statistically measuring the rate.
All numbers assume a bull market and are based on the breakout direction that occurs most often.
For more information, consult my book, Encyclopedia of Chart Patterns, Second Edition.
 
Abbott Laboratories (ABT)
Industry: Medical Supplies
Industry RS rank: 3 out of 53
Stock RS rank: 153 out of 588
12/18/14 close: $45.77
1 Month avg volatility: $0.73. Volatility stop (for downward breakout): $47.25 or 3.2% above the close.
Change YTD: 19.41%
Volume: 6,693,400 shares. 3 month avg: 5,218,938 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Broadening top, right-angled and ascending reversal pattern from 10/31/2014 to 12/16/2014
Breakout is downward 66% of the time.
Average decline: 15%.
Break-even failure rate: 20%.
Pullbacks occur 65% of the time.
Price hits measure rule target 32% of the time.

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ADTRAN Inc (ADTN)
Industry: Telecom. Equipment
Industry RS rank: 41 out of 53
Stock RS rank: 335 out of 588
12/18/14 close: $21.84
1 Month avg volatility: $0.64. Volatility stop (for upward breakout): $20.16 or 7.7% below the close.
Change YTD: -19.16%
Volume: 733,700 shares. 3 month avg: 769,029 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Triangle, symmetrical continuation pattern from 09/12/2014 to 12/17/2014
Breakout is upward 54% of the time.
Average rise: 31%.
Break-even failure rate: 9%.
Throwbacks occur 37% of the time.
Price hits measure rule target 66% of the time.

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Advanced Energy (AEIS)
Industry: Semiconductor
WARNING: This industry is within the top 7 that Dead-cat bounce often.
Industry RS rank: 15 out of 53
Stock RS rank: 80 out of 588
12/18/14 close: $22.87
1 Month avg volatility: $0.79. Volatility stop (for upward breakout): $20.80 or 9.1% below the close.
Change YTD: 0.04%
Volume: 278,100 shares. 3 month avg: 423,083 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Wednesday.
 
Chart pattern: Flag continuation pattern from 12/08/2014 to 12/18/2014
Breakout is upward 54% of the time.
Average rise: 23%.
Break-even failure rate: 4%.
Throwbacks occur 43% of the time.
Price hits measure rule target 64% of the time.

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Alaska Air Group, Inc (ALK)
Industry: Air Transport
Industry RS rank: 2 out of 53
Stock RS rank: 96 out of 588
12/18/14 close: $56.34
1 Month avg volatility: $1.53. Volatility stop (for upward breakout): $52.35 or 7.1% below the close.
Change YTD: 53.58%
Volume: 1,119,800 shares. 3 month avg: 1,573,423 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Triangle, symmetrical continuation pattern from 11/28/2014 to 12/16/2014
Breakout is upward 54% of the time.
Average rise: 31%.
Break-even failure rate: 9%.
Throwbacks occur 37% of the time.
Price hits measure rule target 66% of the time.

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Ann Inc (ANN)
Industry: Retail (Special Lines)
WARNING: This industry is within the top 7 that Dead-cat bounce often.
Industry RS rank: 36 out of 53
Stock RS rank: 414 out of 588
12/18/14 close: $38.05
1 Month avg volatility: $1.13. Volatility stop (for upward breakout): $35.63 or 6.4% below the close.
Change YTD: 4.08%
Volume: 505,800 shares. 3 month avg: 677,089 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Pipe bottom reversal pattern from 12/01/2014 to 12/08/2014
Breakout is upward 100% of the time.
Average rise: 45%.
Break-even failure rate: 5%.
Throwbacks occur 44% of the time.
Price hits measure rule target 83% of the time.

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Apogee Enterprises (APOG)
Industry: Building Materials
WARNING: This industry is within the top 7 that Dead-cat bounce often.
Industry RS rank: 37 out of 53
Stock RS rank: 24 out of 588
12/18/14 close: $43.53
1 Month avg volatility: $1.30. Volatility stop (for upward breakout): $39.64 or 8.9% below the close.
Change YTD: 21.22%
Volume: 501,400 shares. 3 month avg: 212,942 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/10/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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ArcBest Corp (ARCB)
Industry: Trucking/Transp. Leasing
Industry RS rank: 21 out of 53
Stock RS rank: 279 out of 588
12/18/14 close: $44.55
1 Month avg volatility: $1.45. Volatility stop (for downward breakout): $47.78 or 7.2% above the close.
Change YTD: 32.27%
Volume: 189,600 shares. 3 month avg: 394,345 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Broadening top, right-angled and ascending reversal pattern from 11/06/2014 to 12/18/2014
WARNING: A dead-cat bounce occurred on 07/31/2014. There is a 38% chance that a 15% or higher decline will occur (or has occurred since then) by 01/29/2015.
Breakout is downward 66% of the time.
Average decline: 15%.
Break-even failure rate: 20%.
Pullbacks occur 65% of the time.
Price hits measure rule target 32% of the time.

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Archer-Daniels-Midland Co (ADM)
Industry: Food Processing
Industry RS rank: 26 out of 53
Stock RS rank: 136 out of 588
12/18/14 close: $51.16
1 Month avg volatility: $0.98. Volatility stop (for upward breakout): $48.26 or 5.7% below the close.
Change YTD: 17.88%
Volume: 4,824,500 shares. 3 month avg: 3,763,140 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Friday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/27/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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BioMarin Pharmaceutical Inc (BMRN)
Industry: Biotechnology
Industry RS rank: 1 out of 53
Stock RS rank: 10 out of 588
12/18/14 close: $91.83
1 Month avg volatility: $3.16. Volatility stop (for downward breakout): $98.16 or 6.9% above the close.
Change YTD: 30.53%
Volume: 1,416,600 shares. 3 month avg: 1,220,102 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Broadening wedge, ascending reversal pattern from 11/03/2014 to 12/17/2014
Breakout is downward 73% of the time.
Average decline: 17%.
Break-even failure rate: 11%.
Pullbacks occur 57% of the time.
Price hits measure rule target 58% of the time.

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Ethan Allen Interiors Inc (ETH)
Industry: Furn/Home Furnishings
Industry RS rank: 19 out of 53
Stock RS rank: 84 out of 588
12/18/14 close: $29.86
1 Month avg volatility: $0.69. Volatility stop (for downward breakout): $31.87 or 6.7% above the close.
Change YTD: -1.84%
Volume: 138,600 shares. 3 month avg: 215,432 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Friday.
 
Chart pattern: Broadening top reversal pattern from 11/21/2014 to 12/18/2014
Breakout is downward 50% of the time.
Average decline: 15%.
Break-even failure rate: 18%.
Pullbacks occur 48% of the time.
Price hits measure rule target 37% of the time.

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Family Dollar (FDO)
Industry: Retail Store
Industry RS rank: 8 out of 53
Stock RS rank: 121 out of 588
12/18/14 close: $79.46
1 Month avg volatility: $0.61. Volatility stop (for downward breakout): $80.83 or 1.7% above the close.
Change YTD: 22.30%
Volume: 1,150,100 shares. 3 month avg: 1,126,322 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Thursday, and best sell day (most up closes) is Wednesday.
Warning: the quarterly earnings announcement is due within the next 3 weeks (but verify to be sure), so consider avoiding a trade.
 
Chart pattern: Rising wedge reversal pattern from 10/03/2014 to 12/18/2014
Breakout is downward 69% of the time.
Average decline: 14%.
Break-even failure rate: 24%.
Pullbacks occur 63% of the time.
Price hits measure rule target 46% of the time.

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Fastenal Company (FAST)
Industry: Retail Building Supply
Industry RS rank: 20 out of 53
Stock RS rank: 388 out of 588
12/18/14 close: $46.58
1 Month avg volatility: $0.83. Volatility stop (for downward breakout): $48.24 or 3.6% above the close.
Change YTD: -1.96%
Volume: 1,676,700 shares. 3 month avg: 1,874,512 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Broadening wedge, ascending reversal pattern from 11/12/2014 to 12/17/2014
Breakout is downward 73% of the time.
Average decline: 17%.
Break-even failure rate: 11%.
Pullbacks occur 57% of the time.
Price hits measure rule target 58% of the time.

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Ferro Corp (FOE)
Industry: Chemical (Specialty)
Industry RS rank: 23 out of 53
Stock RS rank: 200 out of 588
12/18/14 close: $13.34
1 Month avg volatility: $0.42. Volatility stop (for upward breakout): $12.30 or 7.8% below the close.
Change YTD: 3.98%
Volume: 356,400 shares. 3 month avg: 506,458 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Friday.
 
Chart pattern: Rectangle top continuation pattern from 10/20/2014 to 12/18/2014
Breakout is upward 68% of the time.
Average rise: 39%.
Break-even failure rate: 9%.
Throwbacks occur 64% of the time.
Price hits measure rule target 80% of the time.

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Flir Systems Inc (FLIR)
Industry: Aerospace/Defense
Industry RS rank: 12 out of 53
Stock RS rank: 403 out of 588
12/18/14 close: $33.08
1 Month avg volatility: $0.64. Volatility stop (for upward breakout): $31.06 or 6.1% below the close.
Change YTD: 9.90%
Volume: 687,100 shares. 3 month avg: 866,989 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Double Bottom, Adam and Adam reversal pattern from 12/02/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 35%.
Break-even failure rate: 5%.
Throwbacks occur 64% of the time.
Price hits measure rule target 66% of the time.

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General Dynamics Corp (GD)
Industry: Aerospace/Defense
Industry RS rank: 12 out of 53
Stock RS rank: 117 out of 588
12/18/14 close: $139.82
1 Month avg volatility: $1.87. Volatility stop (for upward breakout): $134.98 or 3.5% below the close.
Change YTD: 46.33%
Volume: 3,152,700 shares. 3 month avg: 1,911,800 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Friday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/15/2014 to 12/16/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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Goldman Sachs Group, The (GS)
Industry: Securities Brokerage
Industry RS rank: 7 out of 53
Stock RS rank: 158 out of 588
12/18/14 close: $191.61
1 Month avg volatility: $2.95. Volatility stop (for downward breakout): $197.56 or 3.1% above the close.
Change YTD: 8.10%
Volume: 4,119,700 shares. 3 month avg: 3,137,025 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Monday.
 
Chart pattern: Pipe top reversal pattern from 12/08/2014 to 12/08/2014
Breakout is downward 100% of the time.
Average decline: 20%.
Break-even failure rate: 11%.
Pullbacks occur 41% of the time.
Price hits measure rule target 70% of the time.

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Harmonic Inc (HLIT)
Industry: Telecom. Equipment
Industry RS rank: 41 out of 53
Stock RS rank: 411 out of 588
12/18/14 close: $6.87
1 Month avg volatility: $0.23. Volatility stop (for downward breakout): $7.36 or 7.2% above the close.
Change YTD: -6.98%
Volume: 533,600 shares. 3 month avg: 637,485 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Tuesday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Broadening top reversal pattern from 11/06/2014 to 12/17/2014
Breakout is downward 50% of the time.
Average decline: 15%.
Break-even failure rate: 18%.
Pullbacks occur 48% of the time.
Price hits measure rule target 37% of the time.

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Harte-Hanks Inc (HHS)
Industry: Advertising
Industry RS rank: 25 out of 53
Stock RS rank: 293 out of 588
12/18/14 close: $7.23
1 Month avg volatility: $0.24. Volatility stop (for downward breakout): $7.93 or 9.6% above the close.
Change YTD: -7.54%
Volume: 225,300 shares. 3 month avg: 206,726 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Rising wedge reversal pattern from 11/13/2014 to 12/18/2014
Breakout is downward 69% of the time.
Average decline: 14%.
Break-even failure rate: 24%.
Pullbacks occur 63% of the time.
Price hits measure rule target 46% of the time.

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Horton, D.R. Inc. (DHI)
Industry: Homebuilding
Industry RS rank: 39 out of 53
Stock RS rank: 278 out of 588
12/18/14 close: $24.47
1 Month avg volatility: $0.56. Volatility stop (for upward breakout): $23.01 or 6.0% below the close.
Change YTD: 9.63%
Volume: 4,035,300 shares. 3 month avg: 5,898,688 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 11/05/2014 to 12/16/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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Idex Corp (IEX)
Industry: Machinery
Industry RS rank: 43 out of 53
Stock RS rank: 368 out of 588
12/18/14 close: $76.23
1 Month avg volatility: $1.13. Volatility stop (for upward breakout): $72.90 or 4.4% below the close.
Change YTD: 3.22%
Volume: 345,500 shares. 3 month avg: 442,368 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/15/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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Intel Corporation (INTC)
Industry: Semiconductor
WARNING: This industry is within the top 7 that Dead-cat bounce often.
Industry RS rank: 15 out of 53
Stock RS rank: 65 out of 588
12/18/14 close: $37.02
1 Month avg volatility: $0.73. Volatility stop (for upward breakout): $34.97 or 5.6% below the close.
Change YTD: 42.63%
Volume: 32,070,400 shares. 3 month avg: 32,993,206 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Wednesday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 11/12/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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La-Z-Boy Inc (LZB)
Industry: Furn/Home Furnishings
Industry RS rank: 19 out of 53
Stock RS rank: 134 out of 588
12/18/14 close: $26.33
1 Month avg volatility: $0.69. Volatility stop (for downward breakout): $27.87 or 5.9% above the close.
Change YTD: -15.06%
Volume: 285,100 shares. 3 month avg: 360,966 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Broadening top reversal pattern from 11/25/2014 to 12/18/2014
Breakout is downward 50% of the time.
Average decline: 15%.
Break-even failure rate: 18%.
Pullbacks occur 48% of the time.
Price hits measure rule target 37% of the time.

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NetSuite Inc (N)
Industry: E-Commerce
Industry RS rank: 9 out of 53
Stock RS rank: 53 out of 588
12/18/14 close: $107.10
1 Month avg volatility: $3.04. Volatility stop (for upward breakout): $100.07 or 6.6% below the close.
Change YTD: 3.96%
Volume: 426,300 shares. 3 month avg: 485,920 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Friday.
 
Chart pattern: Broadening bottom reversal pattern from 11/28/2014 to 12/18/2014
Breakout is upward 53% of the time.
Average rise: 27%.
Break-even failure rate: 10%.
Throwbacks occur 41% of the time.
Price hits measure rule target 59% of the time.

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Polyone Corp (POL)
Industry: Chemical (Specialty)
Industry RS rank: 23 out of 53
Stock RS rank: 425 out of 588
12/18/14 close: $36.70
1 Month avg volatility: $0.74. Volatility stop (for upward breakout): $34.47 or 6.1% below the close.
Change YTD: 3.82%
Volume: 513,300 shares. 3 month avg: 843,528 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/13/2014 to 12/16/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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Principal Financial Group Inc (PFG)
Industry: Insurance (Diversified)
Industry RS rank: 35 out of 53
Stock RS rank: 271 out of 588
12/18/14 close: $52.26
1 Month avg volatility: $0.95. Volatility stop (for upward breakout): $48.82 or 6.6% below the close.
Change YTD: 5.98%
Volume: 2,237,700 shares. 3 month avg: 1,323,592 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/15/2014 to 12/16/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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Progressive Corp (PGR)
Industry: Insurance (Prop/Casualty)
Industry RS rank: 18 out of 53
Stock RS rank: 277 out of 588
12/18/14 close: $26.76
1 Month avg volatility: $0.33. Volatility stop (for upward breakout): $25.60 or 4.3% below the close.
Change YTD: -1.87%
Volume: 3,956,800 shares. 3 month avg: 3,274,485 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/16/2014 to 12/16/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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Public Service Enterprise Group PEG (PEG)
Industry: Electric Utility (East)
Industry RS rank: 14 out of 53
Stock RS rank: 228 out of 588
12/18/14 close: $42.27
1 Month avg volatility: $0.69. Volatility stop (for upward breakout): $40.30 or 4.7% below the close.
Change YTD: 31.93%
Volume: 3,178,100 shares. 3 month avg: 3,650,860 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 11/14/2014 to 12/16/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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Standex International Corp (SXI)
Industry: Diversified Co.
Industry RS rank: 38 out of 53
Stock RS rank: 298 out of 588
12/18/14 close: $76.71
1 Month avg volatility: $2.17. Volatility stop (for upward breakout): $70.08 or 8.7% below the close.
Change YTD: 21.99%
Volume: 36,700 shares. 3 month avg: 52,795 shares.
This security may be thinly traded (less than 100k shares)!
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Head-and-shoulders bottom reversal pattern from 12/02/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 38%.
Break-even failure rate: 3%.
Throwbacks occur 45% of the time.
Price hits measure rule target 74% of the time.

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Thermo Electron Corp (TMO)
Industry: Precision Instrument
Industry RS rank: 28 out of 53
Stock RS rank: 248 out of 588
12/18/14 close: $127.52
1 Month avg volatility: $2.26. Volatility stop (for upward breakout): $120.67 or 5.4% below the close.
Change YTD: 14.52%
Volume: 1,727,400 shares. 3 month avg: 1,916,108 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Wednesday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 11/18/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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Tredegar Corp (TG)
Industry: Chemical (Specialty)
Industry RS rank: 23 out of 53
Stock RS rank: 391 out of 588
12/18/14 close: $21.50
1 Month avg volatility: $0.80. Volatility stop (for downward breakout): $23.27 or 8.2% above the close.
Change YTD: -25.37%
Volume: 78,800 shares. 3 month avg: 77,757 shares.
This security may be thinly traded (less than 100k shares)!
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Friday.
 
Chart pattern: Broadening top, right-angled and ascending reversal pattern from 10/31/2014 to 12/18/2014
Breakout is downward 66% of the time.
Average decline: 15%.
Break-even failure rate: 20%.
Pullbacks occur 65% of the time.
Price hits measure rule target 32% of the time.

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Verisign (VRSN)
Industry: Internet
WARNING: This industry is within the top 7 that Dead-cat bounce often.
Industry RS rank: 42 out of 53
Stock RS rank: 188 out of 588
12/18/14 close: $57.30
1 Month avg volatility: $0.94. Volatility stop (for upward breakout): $54.79 or 4.4% below the close.
Change YTD: -4.15%
Volume: 1,550,400 shares. 3 month avg: 1,046,729 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/16/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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Xilinx Inc (XLNX)
Industry: Semiconductor Cap Equip.
WARNING: This industry is within the top 7 that Dead-cat bounce often.
Industry RS rank: 24 out of 53
Stock RS rank: 407 out of 588
12/18/14 close: $43.71
1 Month avg volatility: $0.86. Volatility stop (for downward breakout): $45.95 or 5.1% above the close.
Change YTD: -4.81%
Volume: 6,450,800 shares. 3 month avg: 3,925,832 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Pipe top reversal pattern from 12/08/2014 to 12/08/2014
Breakout is downward 100% of the time.
Average decline: 20%.
Break-even failure rate: 11%.
Pullbacks occur 41% of the time.
Price hits measure rule target 70% of the time.

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iShares Silver Trust (SLV)
Industry: Metals and Mining (Div.)
Industry RS rank: 44 out of 53
Stock RS rank: 497 out of 588
12/18/14 close: $15.25
1 Month avg volatility: $0.33. Volatility stop (for downward breakout): $16.09 or 5.5% above the close.
Change YTD: -18.49%
Volume: 5,949,600 shares. 3 month avg: 9,168,878 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Friday.
 
Chart pattern: Broadening wedge, ascending reversal pattern from 11/14/2014 to 12/18/2014
Breakout is downward 73% of the time.
Average decline: 17%.
Break-even failure rate: 11%.
Pullbacks occur 57% of the time.
Price hits measure rule target 58% of the time.

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Market Vectors Pharmaceutical (PPH)
Industry: Drug
WARNING: This industry is within the top 7 that Dead-cat bounce often.
Industry RS rank: 4 out of 53
Stock RS rank: 220 out of 588
12/18/14 close: $65.86
1 Month avg volatility: $0.69. Volatility stop (for upward breakout): $63.15 or 4.1% below the close.
Change YTD: 24.01%
Volume: 88,800 shares. 3 month avg: 100,506 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/16/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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PowerShares QQQ -- Nasdaq 100 (QQQ)
Industry: Long ETFs
Industry RS rank: 10 out of 53
Stock RS rank: 167 out of 588
12/18/14 close: $104.25
1 Month avg volatility: $1.24. Volatility stop (for upward breakout): $100.50 or 3.6% below the close.
Change YTD: 18.52%
Volume: 49,684,700 shares. 3 month avg: 42,466,183 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/15/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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S and P Global Tech Sector Index fund (IXN)
Industry: Investment Co. (Foreign)
Industry RS rank: 46 out of 53
Stock RS rank: 234 out of 588
12/18/14 close: $95.72
1 Month avg volatility: $1.05. Volatility stop (for upward breakout): $92.55 or 3.3% below the close.
Change YTD: 14.92%
Volume: 9,000 shares. 3 month avg: 44,818 shares.
This security may be thinly traded (less than 100k shares)!
Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/15/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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S and P long 2x Ultra SP 500 ProShares (SSO)
Industry: Long ETFs
Industry RS rank: 10 out of 53
Stock RS rank: 179 out of 588
12/18/14 close: $128.79
1 Month avg volatility: $2.46. Volatility stop (for upward breakout): $120.36 or 6.6% below the close.
Change YTD: 25.58%
Volume: 5,208,700 shares. 3 month avg: 5,361,443 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Friday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/15/2014 to 12/16/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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SPDR Consumer Staples Select Sector (XLP)
Industry: Household Products
Industry RS rank: 31 out of 53
Stock RS rank: 222 out of 588
12/18/14 close: $49.02
1 Month avg volatility: $0.48. Volatility stop (for upward breakout): $47.34 or 3.4% below the close.
Change YTD: 14.05%
Volume: 8,726,300 shares. 3 month avg: 8,909,582 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/16/2014 to 12/16/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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SPDR Industrial Select Sector (XLI)
Industry: Investment Co. (Domestic)
Industry RS rank: 27 out of 53
Stock RS rank: 295 out of 588
12/18/14 close: $56.59
1 Month avg volatility: $0.69. Volatility stop (for upward breakout): $54.39 or 3.9% below the close.
Change YTD: 8.29%
Volume: 14,040,400 shares. 3 month avg: 12,610,563 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/15/2014 to 12/17/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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SPDR S and P 500 (SPY)
Industry: Long ETFs
Industry RS rank: 10 out of 53
Stock RS rank: 262 out of 588
12/18/14 close: $206.78
1 Month avg volatility: $2.29. Volatility stop (for upward breakout): $199.35 or 3.6% below the close.
Change YTD: 11.96%
Volume: 256,998,800 shares. 3 month avg: 135,892,503 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Monday, and best sell day (most up closes) is Thursday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/15/2014 to 12/16/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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SPDR Technology Select Sector (XLK)
Industry: Investment Co. (Domestic)
Industry RS rank: 27 out of 53
Stock RS rank: 216 out of 588
12/18/14 close: $41.74
1 Month avg volatility: $0.50. Volatility stop (for upward breakout): $40.18 or 3.7% below the close.
Change YTD: 16.79%
Volume: 10,596,000 shares. 3 month avg: 10,065,262 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Friday, and best sell day (most up closes) is Wednesday.
 
Chart pattern: Scallop, ascending and inverted continuation pattern from 10/15/2014 to 12/16/2014
Breakout is upward 100% of the time.
Average rise: 43%.
Break-even failure rate: 4%.
Throwbacks occur 61% of the time.
Price hits measure rule target 61% of the time.

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Thursday 12/18/14. Intraday Market Direction: Nasdaq

The index climbed by 2.1% or 96.48 points. Since 02/05/1971 the index made 43 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.9% on 26 occasions.
     Average loss was -1.6% on 17 occasions.
Expect the index to close higher 60.5% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 73/127 or 57.5% of the time.
     The prediction of the index closing lower has been right 26/55 or 47.3% 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 drew two red channel lines along the tops and bottoms of today's trading.

I expect the index to trend higher. It may not stay within those lines, but I believe the trend is up. The retrace of the last two weeks or so, is over. I've flipped my bearish targets (except for the transports, which need more time to set a trend) and the chart pattern indicator has turned bullish, too. That could change if the market falters, of course, and a definitive signal isn't solid for up to a week.

Nevertheless, I am hopeful. We could use a Santa rally.

$ $ $

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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© 2014 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  4,509.52    
 Daily S2  4,514.44  4.92   Yes! The Daily S2 is close to the Monthly S2.
 Low  4,550.70  36.26   
 Open  4,556.90  6.20   Yes! The Open is close to the Low.
 Weekly S2  4,557.41  0.51   Yes! The Weekly S2 is close to the Open.
 Monthly S1  4,576.91  19.50   
 Daily S1  4,579.37  2.46   Yes! The Daily S1 is close to the Monthly S1.
 61.8% Down from Intraday High  4,589.36  9.98   Yes! The 61.8% Down from Intraday High is close to the Daily S1.
 Weekly S1  4,600.86  11.50   
 50% Down from Intraday High  4,601.30  0.44   Yes! The 50% Down from Intraday High is close to the Weekly S1.
 38.2% Down from Intraday High  4,613.24  11.94   
 Daily Pivot  4,615.64  2.40   Yes! The Daily Pivot is close to the 38.2% Down from Intraday High.
 Close  4,644.31  28.67   
 High  4,651.90  7.59   Yes! The High is close to the Close.
 Daily R1  4,680.57  28.67   
 Monthly Pivot  4,693.89  13.31   
 Weekly Pivot  4,697.05  3.16   Yes! The Weekly Pivot is close to the Monthly Pivot.
 Daily R2  4,716.84  19.79   
 Weekly R1  4,740.50  23.66   
 Monthly R1  4,761.28  20.78   
 Weekly R2  4,836.69  75.41   
 Monthly R2  4,878.26  41.57   

Written and copyright © 2014 by Thomas N. Bulkowski. All rights reserved.