As of 04/24/2024   Indus: 38,461 -42.77 -0.1%     Trans: 15,078 -358.61 -2.3%     Utils: 893 +6.79 +0.8%     Nasdaq: 15,713 +16.11 +0.1%     S&P 500: 5,072 +1.08 +0.0%	YTD  +2.0%   -5.2%    +1.3%    +4.7%    +6.3%	Targets    Overview: 04/12/2024     39,800 or 37,150 by 05/01/2024   16,200 or 15,000 by 05/01/2024   885 or 850 by 05/01/2024   16,700 or 15,800 by 05/01/2024   5,250 or 5,025 by 05/01/2024
Chart Pattern Indicator: on 4/23/24

As of 04/24/2024   Indus: 38,461 -42.77 -0.1%     Trans: 15,078 -358.61 -2.3%     Utils: 893 +6.79 +0.8%     Nasdaq: 15,713 +16.11 +0.1%     S&P 500: 5,072 +1.08 +0.0%	YTD  +2.0%   -5.2%    +1.3%    +4.7%    +6.3%
Targets    Overview: 04/12/2024     39,800 or 37,150 by 05/01/2024   16,200 or 15,000 by 05/01/2024   885 or 850 by 05/01/2024   16,700 or 15,800 by 05/01/2024   5,250 or 5,025 by 05/01/2024
Chart Pattern Indicator: on 4/23/24

Recent Headlines Thursday 4/25/24. Cryptocurrency: Ethereum (ETH-USD) Wednesday 4/24/24. A Look at the Chart Pattern Indicator (CPI) Tuesday 4/23/24. Slider Trading Quiz! Head-and-Shoulders, Complex Bottoms Monday 4/22/24. Market Monday: The Week Ahead Friday 4/19/24. Pattern Trading Setups for the Weekend.

Older Headlines Thursday 4/18/24. Intraday Market Direction: Nasdaq Wednesday 4/17/24. A Look at the Chart Pattern Indicator (CPI) Tuesday 4/16/24. Slider Trading Quiz! Eve & Eve Double Top Monday 4/15/24. Market Monday: The Week Ahead Saturday Supplement 4/12/24. Invest for Two-Comma Wealth Available Now. Friday 4/12/24. Pattern Trading Setups for the Weekend. Thursday 4/11/24. Bitcoin Review Wednesday 4/10/24. A Look At Indicators Tuesday 4/9/24. Slider Trading Quiz! Descending Broadening Wedges Monday 4/8/24. Market Monday: The Week Ahead Friday 4/5/24. Pattern Trading Setups for the Weekend. Thursday 4/4/24. Intraday Market Direction: Nasdaq

Archives April Archive March Archive February Archive January Archive All Archives

Thursday 4/25/24. Cryptocurrency: Ethereum (ETH-USD)

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

$ $ $

I show a picture of Ethereum on the daily scale.

Let's go through it by the letters.

At A, we see a strong uptrend, what I call a straight-line run up. There are few pauses along the way in a breath-taking rise.

At B, we see a messy retrace. Price can't decide on a direction so it falls and retraces. Rinse. Repeat.

At C, we see a potential double bottom. It hasn't confirmed as a valid double bottom because the currency hasn't closed above line D, which is the highest peak between the two bottoms. If the double bottom confirms, then look for the currency to rise. Until then, there's a substantial risk that it'll tumble (like 44% or something like that).

$ $ $

Here's a symbol list of 104 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AFL, AMZN, AEE, AEO, AEL, AME, AMN, APH, ANIK, APA, ATO, BSET, BSX, BRC, BMY, CACI, CDNS, CPB, CNP, CHD, CINF, CLF, CMTL, COTY, CR, CCK, DECK, XRAY, DFS, ECL, EL, EG, EVH, FAST, FE, GME, GIS, HQY, HP, HUM, JBHT, HURC, IDA, NSP, JBLU, K, LDOS, LLY, LPLA, MANH, MCHX, MAS, MGEE, MS, NWPX, NUS, NVDA, OGE, OLN, OMC, ASGN, ON, OXM, PDCO, PCG, PG, PEG, PSTG, RL, RGA, RCKY, RGLD, SCCO, TDY, TXT, UGI, UNM, VEEV, WRB, WSO, WU, WWW, WDAY, ZBRA, ITA, IHE, FXI, EWK, EWH, EWM, PHO, XLB. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth (Ad)

Wednesday 4/24/24. A Look at the Chart Pattern Indicator (CPI)

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

The CPI turned bullish today (Tuesday, after the close). The vertical green bar on the far right of the chart shows this. Two bands of neutral signal preceded the green bar.

This chart shows how the CPI has changed over time. The thin green line shows the timing of the CPI reaching bottom (bearish) before heading higher.

A reading of 35 is the separator between bearish and neutral. Sixty-five is the threshold to turn a neutral signal bullish. Currently, the CPI is 77.1.

Signals can change for up to a week, so that's a factor. My guess is that yes, the S&P 500 has turned bullish, that the retrace is over.

Notice that from November to March, how the CPI hugged the upper portion of the 0 to 100 range. Compare that to the July to November line, where it hugged zero (the bottom of the range).

$ $ $

Here's a symbol list of 116 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABM, AXDX, ACIW, AFL, ALL, AEE, AEL, AFG, APA, ASH, BAX, BBY, BMRN, BA, BOOT, BFH, BMY, BRKR, CACI, CNP, CI, CINF, CLF, CNA, CL, CMCO, COTY, CRH, FANG, DFS, D, DUK, EIX, EL, EG, FDS, FICO, FISV, FNV, GIS, HBI, HE, HQY, HOLX, HUBG, HURC, JAZZ, JBLU, KELYA, KMB, LZB, LANC, L, MCHX, MTRN, MRK, MGEE, MS, MLI, NFG, NUS, ASGN, OR, OXM, PKG, PANW, PCG, POR, PPL, PG, QTWO, DGX, RLI, SAND, SRE, SHW, SO, SCCO, SNPS, TMO, UHAL, VFC, VMI, VMC, WRB, WMT, WU, WWW, ZBRA, ITA, IYK, FXL, FXI, IYF, EWO, EWK, EWG, EWH, EWI, EWM, EWS, EWP, EWL, THD, PBE, PHO, XLP. Click this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth (Ad)

Tuesday 4/23/24. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring head-and-shoulders, complex bottoms.

$ $ $

Here's a symbol list of 104 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ALB, ALL, AMZN, AEE, APA, ACGL, AVY, BECN, BBY, BMRN, CBT, CACI, CLS, CNP, CLNE, CNA, GLW, CSGP, DSGR, EVRG, FAST, FORM, FDP, FRD, GGG, HL, HSII, HWM, HURC, JKHY, JAZZ, JBLU, K, KMT, KMB, KSS, KLIC, LHX, LZB, LAMR, LEG, RAMP, LPLA, M, MCHX, MAS, MTRX, MRCY, MU, MUR, NFG, NOV, NKE, NWPX, ASGN, OTEX, POR, PG, DGX, NOW, STR, SKX, SXI, SCS, SRDX, TPR, TGT, TKR, RIG, UNM, VLO, WLK, WOLF, WWW, IEZ, FDN, FXI, BOTZ, IYZ, IXC, IGE, IYF, EWK, ECH, EWI, EWM, EWS, EWL, EWT, EWU, XRT. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth (Ad)

 

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