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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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Market
Industrials (^DJI):
Transports (^DJT):
Utilities (^DJU):
Nasdaq (^IXIC):
S&P500 (^GSPC):
As of 07/30/2015
17,746 -5.41 0.0%
8,420 -1.09 0.0%
579 3.68 0.6%
5,129 17.05 0.3%
2,109 0.06 0.0%
YTD
-0.4%
-7.9%
-6.3%
8.3%
2.4%
Tom's Targets    Overview: 07/27/2015
17,900 or 17,200 by 08/15/2015
8,700 or 8,000 by 08/15/2015
590 or 550 by 08/15/2015
5,200 or 4,850 by 08/15/2015
2,120 or 2,025 by 08/15/2015
Wilder RSI: -2.7%

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Friday 7/31/15. 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 27 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 584 stocks searched, or 4.6%. 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 5 bearish ones with any remaining (11) 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.

More...

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Symbol Chart Pattern Bullish
Bearish
Start End Industry
AYIChannel      01/09/201507/30/2015Furn/Home Furnishings
AAChannel      05/14/201507/30/2015Metals and Mining (Div.)
ABCPipe top      07/13/201507/20/2015Biotechnology
AWICup with handle      05/19/201507/30/2015Building Materials
ATWChannel      05/22/201507/30/2015Petroleum (Producing)
BIIBDead-cat bounce      07/24/201507/24/2015Biotechnology
CALBroadening top      06/08/201507/27/2015Shoe
CFPipe top      07/13/201507/20/2015Chemical (Basic)
CNLRectangle top      02/05/201507/30/2015Electric Utility (Central)
CNWDouble Bottom, Adam and Adam      07/09/201507/27/2015Trucking/Transp. Leasing
EXPDDouble Bottom, Adam and Adam      07/08/201507/27/2015Air Transport
FFGTriangle, descending      06/05/201507/30/2015Insurance (Life)
FISTriple bottom      06/05/201507/27/2015Computer Software and Svcs
GPNBroadening top      06/03/201507/27/2015Computer Software and Svcs
HDDouble Bottom, Adam and Adam      07/20/201507/27/2015Retail Building Supply
INCYPipe top      07/13/201507/20/2015Drug
JBLUTriple bottom      07/28/201507/28/2015Air Transport
MRKTriple bottom      07/28/201507/28/2015Drug
NFGChannel      05/18/201507/30/2015Natural Gas (Diversified)
NOVTriple bottom      07/28/201507/28/2015Oilfield Svcs/Equipment
NEUTriple bottom      07/28/201507/28/2015Chemical (Specialty)
OGEBroadening top, right-angled and descending      06/15/201507/30/2015Electric Utility (Central)
OKEBroadening top, right-angled and descending      06/05/201507/30/2015Natural Gas (Diversified)
SEChannel      04/23/201507/30/2015Oilfield Svcs/Equipment
TEPennant      07/17/201507/27/2015Electric Utility (East)
RIGChannel      06/11/201507/28/2015Oilfield Svcs/Equipment
PBEPipe top      07/13/201507/20/2015Biotechnology

 

Weekly screen for chart patterns ending between 07/23/2015 and 07/30/2015. 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.
 
Acuity Brands, Inc (AYI)
Industry: Furn/Home Furnishings
Industry RS rank: 5 out of 53
Stock RS rank: 38 out of 576
7/30/15 close: $197.90
1 Month avg volatility: $3.07. Volatility stop (for upward breakout): $188.84 or 4.6% below the close.
Change YTD: 41.29%
Volume: 426,400 shares. 3 month avg: 428,268 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: Channel from 01/09/2015 to 07/30/2015

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Alcoa (AA)
Industry: Metals and Mining (Div.)
Industry RS rank: 47 out of 53
Stock RS rank: 562 out of 576
7/30/15 close: $9.98
1 Month avg volatility: $0.30. Volatility stop (for upward breakout): $9.28 or 7.0% below the close.
Change YTD: -36.80%
Volume: 19,833,200 shares. 3 month avg: 20,069,902 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: Channel from 05/14/2015 to 07/30/2015

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AmerisourceBergen Corp (ABC)
Industry: Biotechnology
Industry RS rank: 17 out of 53
Stock RS rank: 195 out of 576
7/30/15 close: $104.47
1 Month avg volatility: $1.76. Volatility stop (for downward breakout): $111.02 or 6.3% above the close.
Change YTD: 15.87%
Volume: 3,974,200 shares. 3 month avg: 1,994,582 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: Pipe top reversal pattern from 07/13/2015 to 07/20/2015
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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Armstrong World Industries (AWI)
Industry: Building Materials
WARNING: This industry is within the top 7 that Dead-cat bounce often.
Industry RS rank: 13 out of 53
Stock RS rank: 150 out of 576
7/30/15 close: $58.00
1 Month avg volatility: $1.00. Volatility stop (for upward breakout): $53.23 or 8.2% below the close.
Change YTD: 13.46%
Volume: 1,833,300 shares. 3 month avg: 598,294 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: Cup with handle continuation pattern from 05/19/2015 to 07/30/2015
Breakout is upward 100% of the time.
Average rise: 34%.
Break-even failure rate: 5%.
Throwbacks occur 58% of the time.
Price hits measure rule target 50% of the time.

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Atwood Oceanics Inc. (ATW)
Industry: Petroleum (Producing)
Industry RS rank: 50 out of 53
Stock RS rank: 530 out of 576
7/30/15 close: $21.64
1 Month avg volatility: $1.10. Volatility stop (for upward breakout): $18.63 or 13.9% below the close.
Change YTD: -23.72%
Volume: 4,711,600 shares. 3 month avg: 2,496,011 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: Channel from 05/22/2015 to 07/30/2015

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Biogen Idec (BIIB)
Industry: Biotechnology
Industry RS rank: 17 out of 53
Stock RS rank: 422 out of 576
7/30/15 close: $317.00
1 Month avg volatility: $10.45. Volatility stop (for upward breakout): $289.61 or 8.6% below the close.
Change YTD: -6.61%
Volume: 2,303,800 shares. 3 month avg: 2,019,237 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Thursday, and best sell day (most up closes) is Tuesday.
 
Chart pattern: Dead-cat bounce from 07/24/2015 to 07/24/2015

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Caleres (CAL)
Industry: Shoe
Industry RS rank: 3 out of 53
Stock RS rank: 177 out of 576
7/30/15 close: $32.67
1 Month avg volatility: $0.75. Volatility stop (for downward breakout): $34.74 or 6.3% above the close.
Change YTD: 1.62%
Volume: 202,000 shares. 3 month avg: 267,009 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: Broadening top reversal pattern from 06/08/2015 to 07/27/2015
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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CF Industries Holdings, Inc. (CF)
Industry: Chemical (Basic)
Industry RS rank: 33 out of 53
Stock RS rank: 328 out of 576
7/30/15 close: $59.12
1 Month avg volatility: $1.77. Volatility stop (for downward breakout): $63.56 or 7.5% above the close.
Change YTD: 8.46%
Volume: 1,081,700 shares. 3 month avg: 1,516,446 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: Pipe top reversal pattern from 07/13/2015 to 07/20/2015
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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Cleco Corp (CNL)
Industry: Electric Utility (Central)
Industry RS rank: 53 out of 53
Stock RS rank: 303 out of 576
7/30/15 close: $54.37
1 Month avg volatility: $0.35. Volatility stop (for upward breakout): $53.49 or 1.6% below the close.
Change YTD: -0.31%
Volume: 189,200 shares. 3 month avg: 290,806 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: Rectangle top continuation pattern from 02/05/2015 to 07/30/2015
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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Con-way Inc. (CNW)
Industry: Trucking/Transp. Leasing
Industry RS rank: 34 out of 53
Stock RS rank: 392 out of 576
7/30/15 close: $39.37
1 Month avg volatility: $1.06. Volatility stop (for upward breakout): $35.15 or 10.7% below the close.
Change YTD: -19.95%
Volume: 1,637,900 shares. 3 month avg: 1,057,155 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 07/09/2015 to 07/27/2015
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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Expeditors International of Washington (EXPD)
Industry: Air Transport
Industry RS rank: 29 out of 53
Stock RS rank: 231 out of 576
7/30/15 close: $46.68
1 Month avg volatility: $0.72. Volatility stop (for upward breakout): $44.87 or 3.9% below the close.
Change YTD: 4.64%
Volume: 1,108,700 shares. 3 month avg: 1,290,531 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: Double Bottom, Adam and Adam reversal pattern from 07/08/2015 to 07/27/2015
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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FBL Financial Group (FFG)
Industry: Insurance (Life)
Industry RS rank: 4 out of 53
Stock RS rank: 197 out of 576
7/30/15 close: $57.00
1 Month avg volatility: $1.06. Volatility stop (for downward breakout): $59.24 or 3.9% above the close.
Change YTD: -1.77%
Volume: 47,900 shares. 3 month avg: 44,569 shares.
This security may be thinly traded (less than 100k 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: Triangle, descending reversal pattern from 06/05/2015 to 07/30/2015
Breakout is downward 64% of the time.
Average decline: 16%.
Break-even failure rate: 16%.
Pullbacks occur 54% of the time.
Price hits measure rule target 54% of the time.

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Fidelity National Information Svcs (FIS)
Industry: Computer Software and Svcs
Industry RS rank: 14 out of 53
Stock RS rank: 227 out of 576
7/30/15 close: $65.85
1 Month avg volatility: $0.95. Volatility stop (for upward breakout): $60.70 or 7.8% below the close.
Change YTD: 5.87%
Volume: 7,446,600 shares. 3 month avg: 1,349,425 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: Triple bottom reversal pattern from 06/05/2015 to 07/27/2015
Breakout is upward 100% of the time.
Average rise: 37%.
Break-even failure rate: 4%.
Throwbacks occur 64% of the time.
Price hits measure rule target 64% of the time.

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Global Payments Inc (GPN)
Industry: Computer Software and Svcs
Industry RS rank: 14 out of 53
Stock RS rank: 44 out of 576
7/30/15 close: $111.84
1 Month avg volatility: $2.11. Volatility stop (for downward breakout): $116.43 or 4.1% above the close.
Change YTD: 38.54%
Volume: 834,500 shares. 3 month avg: 535,937 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: Broadening top reversal pattern from 06/03/2015 to 07/27/2015
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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Home Depot, Inc (HD)
Industry: Retail Building Supply
Industry RS rank: 10 out of 53
Stock RS rank: 161 out of 576
7/30/15 close: $116.46
1 Month avg volatility: $1.48. Volatility stop (for upward breakout): $112.39 or 3.5% below the close.
Change YTD: 10.95%
Volume: 3,291,100 shares. 3 month avg: 4,931,695 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: Double Bottom, Adam and Adam reversal pattern from 07/20/2015 to 07/27/2015
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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Incyte Corp. (INCY)
Industry: Drug
WARNING: This industry is within the top 7 that Dead-cat bounce often.
Industry RS rank: 16 out of 53
Stock RS rank: 48 out of 576
7/30/15 close: $102.96
1 Month avg volatility: $3.79. Volatility stop (for downward breakout): $111.49 or 8.3% above the close.
Change YTD: 40.83%
Volume: 1,121,000 shares. 3 month avg: 1,013,371 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: Pipe top reversal pattern from 07/13/2015 to 07/20/2015
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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JetBlue Airways Corporation (JBLU)
Industry: Air Transport
Industry RS rank: 29 out of 53
Stock RS rank: 18 out of 576
7/30/15 close: $22.86
1 Month avg volatility: $0.71. Volatility stop (for upward breakout): $20.94 or 8.4% below the close.
Change YTD: 44.14%
Volume: 6,893,000 shares. 3 month avg: 9,885,962 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Tuesday, and best sell day (most up closes) is Wednesday.
 
Chart pattern: Triple bottom reversal pattern from 07/28/2015 to 07/28/2015
Breakout is upward 100% of the time.
Average rise: 37%.
Break-even failure rate: 4%.
Throwbacks occur 64% of the time.
Price hits measure rule target 64% of the time.

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Merck and Co., Inc. (MRK)
Industry: Drug
WARNING: This industry is within the top 7 that Dead-cat bounce often.
Industry RS rank: 16 out of 53
Stock RS rank: 359 out of 576
7/30/15 close: $58.52
1 Month avg volatility: $0.79. Volatility stop (for upward breakout): $56.70 or 3.1% below the close.
Change YTD: 3.05%
Volume: 6,989,400 shares. 3 month avg: 10,133,569 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: Triple bottom reversal pattern from 07/28/2015 to 07/28/2015
Breakout is upward 100% of the time.
Average rise: 37%.
Break-even failure rate: 4%.
Throwbacks occur 64% of the time.
Price hits measure rule target 64% of the time.

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National Fuel Gas (NFG)
Industry: Natural Gas (Diversified)
Industry RS rank: 46 out of 53
Stock RS rank: 503 out of 576
7/30/15 close: $54.75
1 Month avg volatility: $1.22. Volatility stop (for upward breakout): $52.19 or 4.7% below the close.
Change YTD: -21.26%
Volume: 604,400 shares. 3 month avg: 472,229 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: Channel from 05/18/2015 to 07/30/2015

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National Oilwell Varco (NOV)
Industry: Oilfield Svcs/Equipment
Industry RS rank: 51 out of 53
Stock RS rank: 511 out of 576
7/30/15 close: $43.39
1 Month avg volatility: $1.28. Volatility stop (for upward breakout): $40.50 or 6.7% below the close.
Change YTD: -33.79%
Volume: 3,636,500 shares. 3 month avg: 5,182,058 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: Triple bottom reversal pattern from 07/28/2015 to 07/28/2015
Breakout is upward 100% of the time.
Average rise: 37%.
Break-even failure rate: 4%.
Throwbacks occur 64% of the time.
Price hits measure rule target 64% of the time.

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NewMarket Corp. (NEU)
Industry: Chemical (Specialty)
Industry RS rank: 41 out of 53
Stock RS rank: 369 out of 576
7/30/15 close: $402.01
1 Month avg volatility: $7.71. Volatility stop (for upward breakout): $385.09 or 4.2% below the close.
Change YTD: -0.38%
Volume: 111,500 shares. 3 month avg: 41,631 shares.
This security may be thinly traded (less than 100k 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: Triple bottom reversal pattern from 07/28/2015 to 07/28/2015
Breakout is upward 100% of the time.
Average rise: 37%.
Break-even failure rate: 4%.
Throwbacks occur 64% of the time.
Price hits measure rule target 64% of the time.

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OGE Energy Corp (OGE)
Industry: Electric Utility (Central)
Industry RS rank: 53 out of 53
Stock RS rank: 505 out of 576
7/30/15 close: $29.45
1 Month avg volatility: $0.49. Volatility stop (for upward breakout): $27.93 or 5.2% below the close.
Change YTD: -17.00%
Volume: 1,390,700 shares. 3 month avg: 1,070,191 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 top, right-angled and descending continuation pattern from 06/15/2015 to 07/30/2015
Breakout is upward 51% of the time.
Average rise: 28%.
Break-even failure rate: 19%.
Throwbacks occur 52% of the time.
Price hits measure rule target 63% of the time.

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Oneok Inc (OKE)
Industry: Natural Gas (Diversified)
Industry RS rank: 46 out of 53
Stock RS rank: 424 out of 576
7/30/15 close: $37.91
1 Month avg volatility: $1.15. Volatility stop (for upward breakout): $35.12 or 7.4% below the close.
Change YTD: -23.86%
Volume: 2,686,500 shares. 3 month avg: 2,295,311 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Friday.
 
Chart pattern: Broadening top, right-angled and descending continuation pattern from 06/05/2015 to 07/30/2015
Breakout is upward 51% of the time.
Average rise: 28%.
Break-even failure rate: 19%.
Throwbacks occur 52% of the time.
Price hits measure rule target 63% of the time.

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Spectra Energy Corp (SE)
Industry: Oilfield Svcs/Equipment
Industry RS rank: 51 out of 53
Stock RS rank: 405 out of 576
7/30/15 close: $30.36
1 Month avg volatility: $0.66. Volatility stop (for upward breakout): $28.81 or 5.1% below the close.
Change YTD: -16.36%
Volume: 4,219,500 shares. 3 month avg: 4,060,808 shares.
Since 2009 bear market, the best buy day (fewest up closes) is Wednesday, and best sell day (most up closes) is Friday.
Warning: the quarterly earnings announcement is due within the next 3 weeks (but verify to be sure), so consider avoiding a trade.
 
Chart pattern: Channel from 04/23/2015 to 07/30/2015

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Teco Energy Inc (TE)
Industry: Electric Utility (East)
Industry RS rank: 48 out of 53
Stock RS rank: 300 out of 576
7/30/15 close: $21.74
1 Month avg volatility: $0.52. Volatility stop (for upward breakout): $20.26 or 6.8% below the close.
Change YTD: 6.10%
Volume: 1,742,200 shares. 3 month avg: 2,452,357 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: Pennant continuation pattern from 07/17/2015 to 07/27/2015
Breakout is upward 61% of the time.
Average rise: 25%.
Break-even failure rate: 2%.
Throwbacks occur 47% of the time.
Price hits measure rule target 60% of the time.

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Transocean Inc. (RIG)
Industry: Oilfield Svcs/Equipment
Industry RS rank: 51 out of 53
Stock RS rank: 485 out of 576
7/30/15 close: $13.95
1 Month avg volatility: $0.72. Volatility stop (for upward breakout): $12.34 or 11.5% below the close.
Change YTD: -23.90%
Volume: 14,141,500 shares. 3 month avg: 12,052,278 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: Channel from 06/11/2015 to 07/28/2015

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PowerShares Dynamic Biotech and Genome (PBE)
Industry: Biotechnology
Industry RS rank: 17 out of 53
Stock RS rank: 159 out of 576
7/30/15 close: $58.86
1 Month avg volatility: $1.30. Volatility stop (for downward breakout): $61.63 or 4.7% above the close.
Change YTD: 17.25%
Volume: 53,000 shares. 3 month avg: 52,492 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 Thursday.
 
Chart pattern: Pipe top reversal pattern from 07/13/2015 to 07/20/2015
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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Thursday 7/30/15. Intraday Market Direction: Nasdaq

The index climbed by 0.4% or 22.52 points. Since 02/05/1971 the index made 550 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 349 occasions.
     Average loss was -0.7% on 201 occasions.
Expect the index to close higher 63.5% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the index closing higher has been right 90/150 or 60.0% of the time.
     The prediction of the index closing lower has been right 31/64 or 48.4% 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.

The index is following a short channel upward. Since this is the beginning of an uptrend and since the angle is shallow (depending on the aspect ratio of how you view it), from 30 to 45 degrees, I believe the uptrend is just starting.

Of course, it's earnings season so anything can happen. Plus, the index has closed higher two days in a row. Is it time for a break? Nah. Give it another day.

$ $ $

Picture of my cacti.

Good news! My cacti are having babies.

The picture shows (circled in red) just one of several that have buds forming on their sides.

 

$ $ $

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. Donate now to keep this website free.

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© 2015 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  4,751.30    
 Monthly S1  4,931.51  180.22   
 Weekly S2  4,995.30  63.78   
 Weekly S1  5,053.51  58.22   
 Daily S2  5,065.40  11.89   
 Low  5,080.04  14.64   
 Monthly Pivot  5,081.73  1.69   Yes! The Monthly Pivot is close to the Low.
 Daily S1  5,088.57  6.84   
 61.8% Down from Intraday High  5,094.48  5.91   
 Open  5,097.86  3.38   Yes! The Open is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  5,098.94  1.08   Yes! The 50% Down from Intraday High is close to the Open.
 Daily Pivot  5,103.20  4.26   
 38.2% Down from Intraday High  5,103.40  0.20   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  5,111.73  8.33   
 High  5,117.84  6.11   
 Daily R1  5,126.37  8.53   
 Daily R2  5,141.00  14.64   
 Weekly Pivot  5,142.73  1.72   Yes! The Weekly Pivot is close to the Daily R2.
 Weekly R1  5,200.94  58.22   
 Monthly R1  5,261.94  61.00   
 Weekly R2  5,290.16  28.21   
 Monthly R2  5,412.16  122.00   

Wednesday 7/29/15. Chart Pattern Indicator: What's It Say?

Picture of the chart pattern indicator

This is a view of the CPI only it shows signal changes.

Notice that the red signals predominate in the last week or so. Those are bearish signals. It says that the downtrend is still intact.

If the index were to rise tomorrow (Wednesday), the bearish signal could turn bullish.

-- Thomas Bulkowski. Donate now to keep this website free.

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