As of 11/22/2024   Indus: 44,297 +426.16 +1.0%     Trans: 17,367 +194.86 +1.1%     Utils: 1,067 -8.74 -0.8%     Nasdaq: 19,004 +31.23 +0.2%     S&P 500: 5,969 +20.63 +0.3%	YTD  +17.5%    +9.2%    +21.0%    +26.6%    +25.1%	Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,200 or 1,000 by 12/01/2024   20,000 or 18,400 by 12/01/2024   6,100 or 5,800 by 12/01/2024
Chart Pattern Indicator: on 11/20/24

As of 11/22/2024   Indus: 44,297 +426.16 +1.0%     Trans: 17,367 +194.86 +1.1%     Utils: 1,067 -8.74 -0.8%     Nasdaq: 19,004 +31.23 +0.2%     S&P 500: 5,969 +20.63 +0.3%	YTD  +17.5%    +9.2%    +21.0%    +26.6%    +25.1%
Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,200 or 1,000 by 12/01/2024   20,000 or 18,400 by 12/01/2024   6,100 or 5,800 by 12/01/2024
Chart Pattern Indicator: on 11/20/24

Friday 4/30/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 143 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, AEIS, ALB, ADS, AMED, AIG, AMGN, AMN, APOG, ARW, AGO, ATO, ADSK, AXS, BAX, BIO, BKNG, BOOT, BRKS, BG, CBT, CENX, CHS, CINF, CTXS, CNO, CMCO, CMTL, CLGX, CR, CREE, CTS, CW, DFS, EOG, EQT, EL, EXPD, XOM, EZPW, FB, FDX, FLEX, FMC, FORM, GPS, GNW, GS, GPRO, HSC, HIG, HSII, HP, HNI, HOLX, IDXX, INFN, INOV, IIIN, ITGR, NVTA, JBLU, KMT, KBAL, KSS, LB, LDOS, LMT, MHO, MRK, MU, MSFT, MS, MYGN, NWL, NEE, NI, NVDA, OMCL, ASGN, OUT, OMI, PANW, PKE, PATK, PDCO, PYPL, PCG, QCOM, DGX, RGS, RGA, REV, ROG, CRM, SCHW, SEE, SIGI, SCCO, SWN, SXI, SSYS, TG, VFC, VEEV, WMT, XLNX, IHI, IDU, FDN, IYH, IHF, IAT, IGE, IYF, EWH, EWM, EPP, EWP, PPA, DBA, PBE, PXJ, PJP, ROBO, ILF, XLF, XLI, XAR, XLU, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.

There were 23 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 577 stocks searched, or 4.0%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 7 bullish chart patterns this week and 12 bearish ones with any remaining (4) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bearish (down) turn.

In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.

For details about the chart patterns, click here.

-- Thomas Bulkowski

Thursday 4/29/21. Intraday Market Direction: Nasdaq

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 the Nasdaq composite on the 5-minute scale.

The composite at AB shows a double bottom which confirms as a valid chart pattern (when price closes above the highest peak between the two bottoms) and sees the index make a nice move higher.

At CD, the pattern resembles an ugly double bottom. That's what I call a double bottom when the second (right) bottom is much higher than the left bottom, like that shown here.

The two red lines show a rectangle top. Price has been moving between the two lines today as if waiting for earnings to push it either higher or lower. Today, the index is at the bottom red line. If it behaves, it should bounce upward toward the top red line and maybe push through it. If not, then look for it to tumble. The breakout direction is unknown at this time.

The above probabilities suggest it'll move higher.

$ $ $

Here's a symbol list of 138 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, APD, ALL, AMED, AIG, AMN, ANTM, APA, ACGL, AIZ, AXS, BLL, BECN, BBY, BKNG, BAH, BG, CBT, COG, CALM, CPB, CX, CNC, CENX, CVX, CIEN, CMCO, GLW, CR, CCRN, CCK, CSGS, DVN, EOG, EFX, EQT, RE, XOM, EZPW, FFIV, FDS, FLEX, FMC, FRD, IT, GE, GNW, GS, GOOGL, THG, HSC, HTLD, HL, HD, HUBG, IEX, INOV, NSP, IBP, ITGR, IBKR, IPG, KLAC, LANC, LDOS, LLY, RAMP, LMT, MHO, MANH, MAN, MRO, MA, MCO, MS, NBR, NCR, NTAP, NEE, NXGN, NKE, NI, NVDA, OTEX, PATK, PDCO, PAYX, PRFT, PCG, PFG, PRU, DGX, RL, ROG, SMTC, SCCO, SSYS, TKR, TOL, TREX, SLCA, VLO, VMC, WRB, WERN, XLNX, IYK, IYE, ITB, IEO, IYZ, IGE, IYF, EWK, EWQ, EWT, PXJ, IXC, ILF, XLY, XLE, XLV, XHB. Clink this link for details (pattern type, start and end dates).

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

$ $ $

The 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

Wednesday 4/28/21. A Look At Indicators

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 bearish signal we saw last week has disappeared. That can happen with the indicator. The signal is usually solid after 3 days but it can change for up to a week.

What remains is a bullish signal which happened in late March. The indicator, however, is dropping. Look at the thin blue line at the bottom of the chart. It's been heading down even as the market has been rising. That's a sign of bearish divergence. The indicator appears to be neutral now (about 50).

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

I was surprised to see such large swings in the red line, but it matches what we saw last week. This week, the indicators show massive improvement compared to a week ago.

Even so, the red line (the more sensitive of the two) has been trending sideways since early to mid March. Looking back at the December period, we see the red line went flat and then climbed as the market moved higher. So maybe this is just a pause for the market to gather strength for another upward push.

Taken together, the prior chart is bullish but sounding a bearish warning. This chart is bullish, too, but seems to be waiting for the market to resume trending higher with gusto.

$ $ $

Here's a symbol list of 136 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ABT, AES, AA, ADS, AMED, AIG, ABC, AMN, AON, APA, ADP, AVY, BAX, BECN, BIG, EPAY, CBT, COG, CDNS, CALM, CENX, CIEN, CNO, CGNX, CL, CROX, CSGS, CMI, CW, DRQ, EZPW, FFIV, FFG, FDX, FIS, FEYE, FLIR, FMC, FORM, FWRD, FDP, GPS, GNW, GILD, GS, GOOGL, THG, HTLD, HSII, HP, HOV, HURC, INCY, NSP, KLAC, LANC, LAWS, LLY, LNC, LMT, L, LOW, MHO, MTSI, MLM, MGEE, MS, MYGN, NBR, NFG, NFLX, NTAP, NJR, NEU, NEE, NI, NVDA, OMCL, OMI, OXM, PAYX, PRFT, PCG, POR, PRU, PHM, RJF, RLI, SMTC, SHW, SLGN, SO, SCCO, SWN, STMP, SSYS, TER, TOL, TRV, TG, TREX, UGI, UPS, WSO, WERN, WMB, XLNX, ITB, IEO, SLV, IGE, ECH, EWP, TUR, PJP, XLY, GLD, XAR, UNG. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 4/27/21. Slider Trading Quiz! YHOO

$ $ $

I show another slider trading quiz featuring Yahoo 2 (YHOO)

$ $ $

Here's a symbol list of 172 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ANF, AJRD, AES, ALB, AA, ALKS, ALL, AMED, AEO, AFG, AIG, ABC, AMN, APH, ANTM, AWI, ASH, ATO, AVY, AVNT, AXS, BSET, BAX, BZH, BBBY, BERY, BA, BKNG, BOOT, EPAY, BRKS, CBT, CALM, CPB, CLS, CNC, CNO, CL, CSOD, COST, CR, CTS, CMI, DFS, DOV, EQT, FFG, FLEX, FMC, FWRD, FCX, FDP, GME, GPS, GE, GPN, GS, GFF, GES, HTLD, HNI, HON, HOV, INFN, INTC, IVC, JAZZ, KBH, KBAL, KMB, KSS, KLIC, LAMR, LANC, RAMP, LMT, MAS, MDCA, MGEE, MLHR, MS, MUR, NFG, NOV, NTAP, NJR, NEE, NXGN, NI, JWN, NVDA, OMC, OMI, PDCO, PYPL, PETS, PCG, POR, PGR, RJF, RLI, SAIA, SLB, SCHW, SAIC, SIGI, SHW, SLGN, SKX, SO, STMP, TXT, TJX, TOL, TRV, TG, UGI, UPS, WRB, WMT, WERN, WWW, XLNX, ITA, IYM, IAI, IHE, EWO, EWK, EWQ, EWH, EWI, EWM, EPP, EWS, EWY, EWP, EWT, DBA, PJP, ROBO, IXN, ILF, MXI, XLF, XLI, XAR, UNG. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Monday 4/26/21. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Options Expiration
• Swing Traders: Pivot Points
• Earnings, Chart Patterns & Industries

My Prediction

I've identified a number of items in the chart of the Nasdaq composite, which is from the daily scale.

AB is what I call an ugly double bottom. Normally, I look for price to climb on bottom B at least 5% above A. With an index, that's a tall order so I ignore it.

The ugly double bottom confirms as a valid chart pattern at C, where the index closes above the red line.

A throwback at D sees the index return to the breakout price (the red line).

After that, the index appears to be rising to E, the blue line, which is overhead resistance setup by the prior peak. It has yet to be determined that the index will pierce the blue line and continue rising. It might turn down immediately or it might rise above the prior peak and then turn down. If that happens (a rise above the prior peak followed by a retrace) forms a pattern called a 2B.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

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:

Earnings, Chart Patterns & Industries

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

Here's a symbol list of 82 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACIW, ALB, ALL, AMED, AXP, AFG, ABC, AON, ASH, ATO, AXS, BOOT, CACI, CDNS, CX, CNP, CNA, CAG, CRH, BOOM, FOE, FMC, FDP, HE, HAYN, HQY, HSY, HOV, INFN, ITGR, INTC, KLIC, LZB, LAWS, LMT, MAS, MDCA, MGEE, MLHR, NFG, NEU, NKE, NI, NVDA, PCG, PPG, PG, PRU, RHI, SKX, SR, TPX, TDC, TXT, TZOO, TREX, WU, WWW, BOTZ, IHF, EWK, ECH, EWH, EWS, EWY, EWD, EWT, THD, PPA, PJP, ROBO, XLV, XLI. Clink this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

Friday 4/23/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 128 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ALB, AYX, AMZN, AEL, AMWD, ABC, AON, ATR, ASH, AVNT, AXS, BCPC, BSET, BECN, BZH, BERY, BBY, BOOT, EPAY, CBT, CDNS, CALM, CPB, CNP, ED, CAG, GLW, COST, COTY, CTS, DHR, XRAY, DDS, DRQ, EXP, EMN, EBAY, EMR, EOG, EFX, EZPW, FOE, FDP, GME, GPS, GL, HBI, HE, HAYN, HQY, HSY, HD, IIIN, INTC, KBAL, LRCX, LMT, LXU, MRTN, MLM, MA, MDCA, MGEE, MLHR, MYGN, NJR, NEU, NI, NVDA, ASGN, PKG, PKE, PDCO, PCG, PPL, PEG, RL, RJF, RLI, RHI, RES, CRM, SIGI, LUV, SR, SCS, SSYS, TPR, TDC, TSCO, TG, VMI, VEEV, WAT, WMB, WSM, XLNX, IYM, ICF, EWK, ECH, EWJ, EWP, PJP, ROBO, MXI, XLB. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.

There were 18 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 577 stocks searched, or 3.1%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 6 bullish chart patterns this week and 5 bearish ones with any remaining (6) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bullish (up) turn.

In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.

For details about the chart patterns, click here.

-- Thomas Bulkowski

Thursday 4/22/21. Intraday Market Direction: Nasdaq

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 the Nasdaq composite on the 5-minute scale.

Let's take it by the numbers (letters, really). AB is a double bottom.. It confirms as a real, valid chart pattern when the composite closes above the peak between the two bottoms. That happens above line C.

DE is the corrective phase of a measured move down (MMD) chart pattern. The measured move starts at F and ends at A with the correction in the middle.

I highlight DE because the probability is high that price will retrace to this region and stall. It gives us a target which the composite meets on Wednesday where it lined sideways.

In this case, the composite jumped upward going into the close.

Had you bought the double bottom, it would have met not only the MMD corrective phase target but also the height of the double bottom added to the breakout price. That's about 100 points.

$ $ $

Here's a symbol list of 138 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, AJRD, ADS, ALL, AMED, AFG, AWI, ASH, AGO, AXS, BIO, BA, BKNG, BOOT, BRKS, BG, CBT, CLS, CNP, CVX, CHD, CIEN, CLNE, CLX, CNA, CMTL, ED, GLW, CR, DHR, DVN, EOG, EPAM, RE, EZPW, FDS, FFG, FOE, FLIR, FTNT, FDP, GD, GNW, GGG, HLIT, JBHT, ILMN, IIIN, INTC, IPAR, TILE, K, KLIC, LB, LMT, LXU, M, MANH, MRO, MRTN, MA, MTRN, MDCA, MGEE, MLHR, NCR, NWL, NEE, NXGN, NI, NVDA, OXY, ORI, OMCL, OMC, OMI, OXM, PATK, PDCO, PAYX, PINC, PEG, KWR, RGA, RHI, RES, ^GSPC, SLB, SAIC, SEE, SEIC, SIGI, SRE, NOW, LUV, SSYS, TPX, TXN, TXT, TKR, TG, SLCA, VLO, VMI, VMC, WAT, WSO, IYK, IYE, IHI, IEO, IEZ, IHE, IYH, EWS, EWD, THD, TUR, PXJ, PJP, IXC, XLE, GLD, XLV, USO, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Wednesday 4/21/21. A Look At Indicators

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.

We have a signal change in the CPI but don't be alarmed. It's probably nothing. The signal can disappear for up to a week.

The thin blue line near the bottom of the chart shows the trend. It started falling about 3 weeks ago, when April unfolded. Even as the CPI dropped the index continued to rise.

That's bearish divergence. So here we are now and the index has dropped since peaking 3 trading days ago.

Let's look at the next chart and see if it agrees with a bearish turn.

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

This chart confirms the damage. Both lines are worse off this week than last.

Last week we saw both charts show bearish divergence and the index has returned to the level where it was a week ago.

This chart is bearish. The prior chart is bearish. Maybe I should be bearish and I am. I'm waiting for tech stocks to drop so I can buy in. I thought at year's start that we'd see weakness in the tech sector in April, setting up a buy time in June. I'll see if I can catch some SOXX on weakness. It's sporting a 2B pattern. I don't think it'll drop far but we'll have to see.

$ $ $

Here's a symbol list of 176 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACN, ADTN, ALRM, ALKS, ALL, AMWD, ABC, AON, APOG, AAPL, AIZ, AXS, BSET, BIIB, BKH, BA, BAH, CLS, CENX, CVX, CHS, CHD, CLNE, CL, CMTL, COST, CROX, DHR, DVN, DOV, BOOM, EOG, EXC, EZPW, FICO, FFG, FDX, FE, FLIR, FTNT, FWRD, FCX, FRD, GNW, GPRO, EVRG, HBI, THG, HLIT, HSII, HSY, HNI, HOV, ITW, IBP, INTC, TILE, IPI, ISRG, JCOM, JKHY, KSS, KLIC, LNC, LMT, LXU, MAN, MRO, MTRN, MGEE, MLHR, MYGN, NFG, NXGN, NKE, NI, JWN, NUS, NVDA, OXY, OGE, OMCL, OXM, PANW, PKE, PYPL, PICO, PLXS, PG, RMBS, ROK, RCKY, RES, SAIA, SLB, SAIC, SRE, SO, SCCO, LUV, SWX, SWN, SXI, SCS, SSYS, TPX, TER, TXN, TKR, TOL, SLCA, UGI, VLO, VMI, VRSN, VC, WMT, WAT, WMB, ZBRA, IYM, IAI, IYE, IHI, IEO, IEZ, IHE, FXI, ICF, IYH, IYZ, SOXX, ECH, EWH, EWM, EWW, EPP, THD, TUR, DBA, PXJ, PHO, IXC, ILF, XLP, XLE, GLD, XLB, XRT, XLU, USO, SMH, VHT. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 4/20/21. Slider Trading Quiz! Yahoo

$ $ $

I show another slider trading quiz featuring Yahoo (YHOO).

$ $ $

Here's a symbol list of 138 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, AXDX, AYI, ALRM, ALB, AA, ALKS, ADS, ALL, AEE, AEO, ABC, AON, APOG, AAPL, ACGL, AXS, BMI, BSET, BIG, BMRN, BA, CLS, CHS, CHD, CLF, CNO, CMTL, CLR, CLGX, COST, DHR, BOOM, WIRE, EVH, EXC, EZPW, FFG, FDX, FEYE, FMC, FWRD, FCX, FRD, GPS, GNW, GOOGL, GPRO, HBI, HSII, HNI, HOLX, HUBG, IEX, INCY, INFN, INOV, IBKR, JAZZ, KLIC, LRCX, LLY, LNC, LMT, MHO, MRO, MTRN, MDCA, MU, NEE, NI, NVDA, OMCL, OXM, PCG, PNW, PPL, PINC, RMBS, RCKY, RES, SAIA, SEIC, SRE, SLGN, SO, SCCO, SWX, SCS, SSYS, TER, TEVA, TJX, TOL, TRV, TG, UGI, VFC, VMC, WAT, WERN, WSM, ZBRA, IYM, IYK, IHI, IDU, FDN, ICF, IYZ, EWK, ECH, EWQ, EWH, EWW, EPP, EWP, EWL, EWT, THD, EWU, PBE, PHO, XLP, XLB, XLU, UNG, SMH. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Monday 4/19/21. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Options Expiration
• Swing Traders: Pivot Points
• Earnings, Chart Patterns & Industries

My Prediction

This is a picture of the Dow industrials on the daily scale.

It's a boring picture, really, but it's also scary.

I drew a curved trendline in red, hugging price valleys. Notice how the slope of it climbs rapidly, maybe exponentially on the upper right.

When a trendline turns sharply higher, as in this case, the uptrend can't continue rising at the same or higher rate. The index will pierce the trendline and will often resume rising at a slower rate.

If you ignore the red line and drill down on the trend over the last 2 weeks, then the slope of the upward climb is less steep. That means it's more sustainable.

The result of this analysis tells me that the Dow is going to retrace. It's actually overdue based on the distance between prior valleys. We do know the index will retrace. But we don't know when.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

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:

Earnings, Chart Patterns & Industries

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

Here's a symbol list of 177 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, AXDX, AYI, AFL, ATSG, AKAM, AA, ALL, AMED, AXP, AFG, APH, APOG, AWI, ASH, AIZ, AVNT, AXS, BZH, BBBY, BKH, BKNG, EPAY, BMY, BLDR, BG, CBT, CACI, CE, CX, CHD, CLF, CNO, ED, CONN, CLR, CRH, CTS, DHR, ^DJU, D, DTE, EIX, WIRE, EQT, EVH, FB, FFG, FDX, FEYE, FMC, FCX, FDP, GPS, GNW, GPN, GL, GPRO, EVRG, THG, HSC, HD, HUBG, IEX, ILMN, INCY, INFN, INOV, IBP, ITGR, JCOM, LRCX, LANC, LAWS, RAMP, LMT, LOW, MAN, MRO, MLM, MAS, MTRN, MGEE, MYGN, NTAP, NJR, NXGN, NI, NVDA, OGE, PDCO, PFE, PCG, PNW, POR, PPG, RMBS, ROK, ROG, SAIA, SRE, SHW, SCCO, SWX, SWN, SR, STMP, SSYS, TER, TXN, TKR, TOL, UGI, VMI, VMC, WERN, WLK, WMB, IYM, IYK, IYC, IHI, IDU, DDM, FDN, BOTZ, ICF, IYZ, IGE, IYF, EWO, EWK, EWZ, EWC, ECH, EWQ, EWG, EIS, EWI, EWS, EWD, EWL, EWU, PPA, DBA, PBE, PJP, PHO, IEV, ILF, MXI, GLD, XLI, XLB, XLU, UNG, SMH. Clink this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

Friday 4/16/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 132 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, AMD, ALL, DOX, AEE, AEO, AXP, AIG, ANTM, APOG, ASH, AVNT, BSET, BZH, BERY, BMRN, EPAY, CLS, CHD, CIEN, CLNE, CLF, CONN, CLR, CROX, CCRN, CCK, DHR, EMR, EPAM, RE, FFIV, FB, FFG, FE, FDP, GPN, GPRO, THG, HSC, ITW, ILMN, IIIN, ITGR, JCOM, JAZZ, LH, LEG, LMT, L, M, MRO, MA, MTRN, MDC, MDT, MLHR, MLI, CNR, NI, JWN, NVDA, PKG, PKE, PCG, PICO, PINC, PEG, QCOM, RGS, REV, RHI, ROST, SMG, SEE, SWX, STMP, TXT, TOL, VMI, VRSN, V, WSO, XLNX, IHI, IEZ, IDU, BOTZ, ICF, IHF, SLV, EWA, EWK, EWZ, EWC, ECH, EWQ, EWM, EWW, EPP, EWS, EZA, EWD, EWL, EWT, EWU, DBA, PBE, PXJ, PJP, IEV, ILF, MXI, GLD, XAR, XLU, UNG, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.

There were 32 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 577 stocks searched, or 5.5%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 19 bullish chart patterns this week and 4 bearish ones with any remaining (9) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bullish (up) turn.

In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.

For details about the chart patterns, click here.

-- Thomas Bulkowski

Thursday 4/15/21. Intraday Market Direction: Nasdaq

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 the Nasdaq composite on the 5-minute scale.

I drew the red line because it's the first thing that caught my eye. Notice that the composite has pierced the line of support and is moving lower.

A head-and-shoulders top chart pattern appears as the deciding factor on direction. The left shoulder (LS), head, and right shoulder (RS) appear on the chart as drawn. If you look at the daily chart of the Nasdaq (not shown), you'd see the composite peaking near the mid February high and is now moving lower (for at least one day). It tells me to expect weakness in the composite as it drops back. I don't know how far down it will go. It could even rebound and move higher tomorrow or in the coming days. But if it stalls soon near the old high, there's a good chance it'll fall after that.

I've been expecting it to drop going into June. I may buy some tech offerings then or between now and then if weakness persists.

$ $ $

Here's a symbol list of 128 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, AA, ALL, AYX, AFG, AIG, APH, APOG, AAPL, ATO, ADSK, AVNT, BSET, BKNG, EPAY, CALM, CE, CX, CHD, CLF, CNA, CNO, CL, CLR, CR, CW, DHR, ^DJI, DRQ, EMN, EBAY, RE, FE, FISV, GME, GPS, GNW, GOOGL, HSIC, HSY, HON, ILMN, INFN, IBP, TILE, IPI, INTU, JCOM, KFRC, LB, LEG, L, MANH, MCHX, MLM, MDT, MU, MLHR, MS, MLI, NBR, ^IXIC, NFLX, NXGN, NUS, PYPL, PCG, PFG, PEG, RNG, RHI, ROK, SAIA, CRM, SIGI, SWX, SUM, SNPS, TGT, RIG, UGI, VMC, WDAY, XLNX, IYK, IDU, FDN, QTEC, ICF, IHF, IYZ, IYF, EWA, EWK, EWC, EWG, EWH, EWW, EPP, EWY, EWP, EWL, QLD, PPA, DBA, QQQ, IXN, ILF, MXI, XLY, XHB, XLI, XLU, USO, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Wednesday 4/14/21. A Look At Indicators

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.

This chart shows the same situation that I've been discussing most Wednesday's for the past few months.

There's a bullish green bar on the far right of the chart, but the index is warning of a coming downturn. That warning this week is bearish divergence. I drew two brown/yellow lines to highlight it.

The index is making higher peaks and the indicator is trending lower. The thinking is that the index will follow the CPI line. However, divergence can last for months (look at Nov 2020 to late Jan on the chart) and the drop in the index might not amount to much. It'll occur, but it could be minor or major. We'll just have to see.

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

This chart also shows divergence between the index and the red line. Divergence on this chart is rare. Usually the blue and red lines track the index closely.

Both charts are hinting of coming weakness. Indeed, the red line turned bearish with 12% of the stocks I follow in my database are now in bear market territory, down from 10%. So I'm still expecting the indices to retrace and holding cash to deploy even as the market soar.

$ $ $

Here's a symbol list of 137 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, AXDX, ADBE, AEIS, AA, ALL, AMZN, AEP, APOG, ARW, AVNT, BIG, BIO, BA, CACI, CALM, CLS, CVX, CHS, CHD, CLF, CMTL, ED, CLR, DHR, D, DRQ, DTE, EMN, EBAY, EOG, EXC, XOM, FB, FDS, FEYE, FE, FISV, GPRO, GES, HSC, HURC, ILMN, INOV, IPAR, IPI, JCOM, JAZZ, JNJ, KELYA, LB, LAWS, LEG, MDT, MGEE, MU, MS, MLI, NOV, NTGR, NEE, OXY, ASGN, OTEX, OUT, OMI, PDCO, PYPL, PEG, KWR, RLI, RCKY, ROG, RES, SLB, SAIC, SEIC, SIGI, SRE, SMTC, SWX, SWN, RIG, TRV, TZOO, TG, SLCA, VLO, VMI, VC, WMB, WSM, WDAY, XEL, IYK, IYE, IHI, IEO, IEZ, IDU, FDN, ICF, SLV, IGE, EWK, EWJ, EWL, THD, QLD, IBB, DBA, PXJ, QQQ, IXC, IXN, XLE, XHB, XRT, XLU, UNG, VHT, MGK. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 4/13/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Exxon: XOM (actual trade).

$ $ $

Here's a symbol list of 154 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACIW, AYI, ADBE, ADTN, AMD, ALRM, ALL, AMWD, ARCB, ARW, AXS, BSET, BECN, BZH, BIO, BMRN, BKH, BA, EPAY, BMY, BRKS, BBW, CLS, CENX, CF, CVX, CHD, CIEN, CSOD, CREE, CCK, CW, DDS, DFS, EOG, EQT, EL, XOM, EZPW, FOE, FIVN, FRD, GPS, GPRO, GES, HLIT, HSC, HSII, HON, HURC, INFN, INTC, TILE, IPI, NVTA, JBLU, KLIC, LZB, RAMP, MTSI, MRO, MRTN, MAS, MTRX, MDC, MDCA, MDT, MGEE, MCO, MS, MLI, NOC, NWPX, NUS, OXY, ORI, OLN, ASGN, PKG, PKE, PAYX, PRFT, PCG, POR, PRU, KWR, RMBS, REV, RLI, ROG, RES, SAIA, SLB, SMTC, SCCO, SWN, SSYS, SRDX, TECH, TDOC, TPX, TDC, TOL, RIG, TZOO, UGI, VFC, VLO, IYK, IYE, ITB, IEO, IEZ, IDU, ICF, IYH, IHF, IYZ, IGE, EWK, EWC, ECH, EEM, EWS, EZA, THD, PPA, PXJ, PJP, IXC, SSO, XLE, XHB, XLI, XLU. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

Monday 4/12/21. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Options Expiration
• Swing Traders: Pivot Points
• Earnings, Chart Patterns & Industries

My Prediction

This is the Dow transports on the daily chart.

A weird looking double bottom appears at AB. I write "weird" because price normally drops into a chart pattern, not rises into it like we see here.

The pattern confirms as valid when price closes above the horizontal red line.

At C, the index throws back to the breakout price.

Notice the move up from the low at B to the high at D. I show that with the green line. Nice! Very nice, indeed.

I don't see anything which might dampen the upward move except maybe a retrace. The up move has been in place for a while now, so they are due for a break. The transports are the best performing index this year, up 19% as I write this.

$ $ $

I received my first Covid-19 shot (Moderna) today. It's 8 hours later and I feel fine. Almost no pain in my arm either. I had to wait in my car for 38 minutes (mostly winding through S-turns in a parking lot to get to the shot site). Filled out a consent form, got the shot, waited 15 minutes for the all-clear, and away I went to get lost on the way home.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

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

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:

Earnings, Chart Patterns & Industries

Earnings season will be starting in about 4 days.

Here's a symbol list of 144 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ACIW, ADBE, ADTN, AMD, AYX, AEO, AFG, AMWD, ABC, ANTM, ARW, ASH, BLL, BSET, BECN, BBBY, BMRN, BOOT, BRKS, BBW, COG, CPB, CLS, CENX, CHD, CLNE, CAG, CONN, CSOD, COST, CREE, CRH, CCK, CTS, DDS, DUK, BOOM, EMN, EBAY, EIX, EQT, XOM, FDS, FIVN, GE, GNW, GOOGL, GPRO, EVRG, GES, HLIT, HSC, HSII, HON, HOV, INFN, IBP, TILE, NVTA, JCOM, JBLU, JNJ, KFRC, KLIC, LAMR, LAWS, RAMP, LXU, MTSI, M, MTRX, MDCA, MGEE, MCO, MOS, MLI, NJR, NXGN, ASGN, PKE, PRFT, PFE, PCG, PGR, PRU, PHM, KWR, RMBS, RGS, ROG, SLB, SMG, SEE, SEIC, SMTC, SRDX, SNPS, TECH, TDOC, TPX, TOL, TZOO, TREX, WAT, WMB, XEL, IYC, FTEC, ICF, IYH, EWC, ECH, EWI, EWJ, EWL, TUR, PPA, DBA, PHO, SSO, XLY, XLP. Clink this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

Friday 4/9/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 186 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACIW, ADBE, ADTN, AMD, AJRD, ALRM, AEL, AMWD, ANTM, APOG, AAPL, ADM, ARW, ASH, BMI, BSET, BECN, BBY, BMRN, BKNG, BRC, BMY, BRKS, BBW, CBT, COG, CACI, CNP, CENX, CVX, CHS, CHD, CLNE, CNO, CAG, CONN, COP, CLR, CSOD, CREE, CRH, CCRN, CW, DECK, DVN, DTE, DUK, BOOM, EPAM, EQT, EL, XOM, FE, FIVN, IT, GE, GPRO, EVRG, GES, HLIT, HSC, HAYN, HL, HSII, DHI, IEX, INCY, INFN, IIIN, TILE, IVC, NVTA, JCOM, JBLU, JNJ, KLIC, LAMR, LEN, RAMP, MHO, MTSI, MAN, MCHX, MTRX, MDC, MDCA, MRK, MGEE, MSFT, MCO, MLI, ^IXIC, CNR, NJR, NXGN, NVDA, OXY, ASGN, OUT, PANW, PKE, PRFT, PNW, PPL, PHM, KWR, RMBS, REV, ROG, SIGI, SMTC, NOW, SSYS, SRDX, SNPS, TPR, TECH, TDOC, TPX, RIG, TZOO, VEEV, VC, WRB, WU, WLK, XEL, IYE, ITB, IHI, IDU, FTEC, FDN, QTEC, BOTZ, ICF, IGV, SLV, EWK, ECH, EIS, EWM, EWW, EZA, EWD, EWL, EWT, TUR, QLD, DBA, QQQ, ROBO, IEV, IXN, ILF, MXI, XLE, GLD, XLK, XLU, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.

There were 16 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 577 stocks searched, or 2.8%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

I found 8 pipe bottom chart patterns, which is neutral. High numbers of pipe bottoms can signal a bullish move (I see many of them just before a bear market ends or during a bear market rally. Often it means the first bottom of a double bottom has formed. Thus, expect a move down to the second bottom).

Excluding ETFs, there were 15 bullish chart patterns this week and 3 bearish ones with any remaining (6) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bullish (up) turn.

In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.

For details about the chart patterns, click here.

-- Thomas Bulkowski

Thursday 4/8/21. Intraday Market Direction: Nasdaq

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 the Nasdaq composite on the 5-minute scale.

Two patterns appear on the chart. The first one in blue is a symmetrical triangle. It has at least 5 touches, total, of the two trendlines. This triangle has an upward breakout (which happens 60% of the time).

More recently, we see a descending triangle. I show that on the chart with two red lines except one of them turned blue. Could be from someone placing it's knee on it.

Again, it has at least 5 trendline touches. The top trendline slopes downward and the bottom one is horizontal. It might seem odd but a descending triangle actually breaks out upward more often than downward, but it's close: 53% breakout upward.

Having said that, I expect the indices to continue to retrace, so I'm looking for the Nasdaq to drop over the coming days.

$ $ $

Here's a symbol list of 199 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACIW, ADTN, AMD, ATSG, ALB, AYX, AMWD, ANTM, AON, APOG, AAPL, ARCB, ASH, BMI, BSET, BECN, BZH, BIO, BIIB, BMRN, BKNG, BRC, BRKS, BLDR, BG, CBT, CACI, CALM, CE, CLS, CNP, CENX, CHD, CINF, CLNE, CNO, CTSH, CMTL, CAG, CONN, CSOD, COST, CREE, CCRN, CCK, CTS, DVN, DTE, EQT, RE, EVH, EZPW, FDS, FFG, FEYE, FIVN, FLEX, FLIR, FLS, IT, GPRO, GGG, GES, HLIT, HSC, HAYN, HQY, HSII, HELE, HNI, DHI, HOV, HUBG, HURC, INCY, INFN, IIIN, ITGR, TILE, IPI, IVC, NVTA, JCOM, JBLU, KALU, KBAL, KMB, KLIC, LB, LAWS, LDOS, LEN, RAMP, MHO, MTSI, MCHX, MLM, MAS, MTRN, MTRX, MDC, MDCA, MDT, MGEE, MLI, CNR, NFLX, NXGN, NOC, OXY, ASGN, OTEX, OMI, PKE, PRFT, PICO, PNW, PLXS, PPL, PEG, PHM, KWR, RMBS, REV, RLI, ROG, SEE, SMTC, SLGN, SWX, SSYS, SRDX, TECH, TDOC, TPX, TJX, TOL, RIG, TZOO, TG, VMI, VC, VMC, WLK, WMB, ZBRA, IYM, IYK, ITB, IDU, FTEC, FXL, ICF, IYH, EWZ, EWJ, EWW, EWY, THD, TUR, IBB, PBE, PHO, IXN, MXI, XLV, XRT, XLK, XLU, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Wednesday 4/7/21. Indicators Still Bullish But

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 green bar on the far right of the chart means the indicator is still bullish. It's been bullish for about two weeks now.

What hints can we see about a trend change?

Price is rising fast, probably too fast to be sustainable. So look for a retrace. You can see the inverted and ascending scallop pattern from the March green bar to the recent green bar (between those two locations, in price, not the CPI). Price rises and then retraces.

So that's what I see coming. The CPI line at the bottom of the chart doesn't show weakness, but therein lies the weakness. The indicator is at 98 now, so there's more downside than upside. To put it another way, the indicator is going to drop soon, taking the index along with it.

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

Both the red and blue lines show improvement this week compared to a week ago. There's still divergence between the red/blue lines and price. By that, I mean the last two peaks are flat to down in the colored lines, but the index shows a higher peak.

Both charts this week show strength but the subtext says the index is going to retrace, probably for a week. And I think it's going to start soon.

$ $ $

Here's a symbol list of 145 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACIW, ADTN, AMD, AES, ALK, ALB, AA, ALL, AYX, AEO, AMWD, ANTM, APOG, ATR, ARCB, ADP, BMI, BSET, BECN, BZH, BMRN, BRC, BMY, BRKS, CHD, CLNE, CNO, CONN, CSOD, COTY, CREE, CTS, CMI, CW, DVN, WIRE, EVH, FDS, FIVN, FLS, FMC, FDP, GPRO, GGG, GFF, GES, HLIT, HSC, HE, HAYN, HL, HSII, HNI, HUBG, INFN, TILE, IPI, IVC, NVTA, JCOM, JAZZ, JBLU, KALU, KMT, KFRC, KBAL, KLIC, RAMP, MTSI, MTRN, MTRX, MDCA, MDT, MGEE, MLI, NCR, NFLX, NTGR, NXGN, NVDA, OMC, ASGN, PANW, PKE, PAYX, PRFT, PLXS, PFG, PGR, PHM, KWR, RMBS, REV, RNG, RHI, ROG, RES, SMTC, SCS, SSYS, SRDX, TECH, TDOC, TPX, TOL, RIG, TZOO, TREX, VC, WSO, WEX, WSM, ZBRA, IYK, SLV, EIS, EWW, TUR, IBB, PBE, PXJ, ILF, GLD, XLV, XLI, XRT, UNG, MGK. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 4/6/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring WPS Resources: WPS (actual trade)

$ $ $

Here's a symbol list of 187 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, APD, AA, AMGN, APH, APOG, AWI, ARW, ATO, AXS, BLL, BZH, BRKS, BG, COG, CALM, CNP, CENX, CF, CHD, CIEN, CLNE, CNO, CONN, CLR, GLW, CR, CRH, XRAY, DFS, ^DJU, ^DJT, ^DJI, EOG, EFX, EVH, EXPD, EZPW, FAST, FMC, FORM, FTNT, FCX, FDP, GE, GNW, GS, GOOGL, GPRO, GGG, HE, HTLD, HSII, HD, HOV, JBHT, IEX, INOV, JCOM, JBLU, KALU, KLAC, KLIC, LZB, LAWS, LDOS, MCHX, MAS, MGEE, MLHR, ^IXIC, NCR, NWL, NEE, NVDA, OXY, OTEX, PKG, PCG, PLXS, KWR, RJF, RNG, RLI, RES, ^GSPC, SCHW, SAIC, SIGI, SCCO, TGT, TPX, TXN, TXT, TZOO, VFC, V, WRB, WAT, WSO, WLK, WMB, ITA, IYM, IAI, IYK, IYC, IYE, IEO, IEZ, IDU, DDM, FTEC, QTEC, FXL, BOTZ, ICF, IYH, IYZ, SOXX, IYF, EWA, EWO, EWK, EWC, ECH, EWQ, EWG, EIS, EWI, EWW, EPP, EWY, EWP, EWD, TUR, EWU, QLD, PPA, PXJ, PJP, PHO, ROBO, IEV, IXC, IXN, SSO, MXI, XLY, XLF, XHB, XLI, SPY, XAR, XLK, XLU, UNG, SMH, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Monday 4/5/21. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Options Expiration
• Swing Traders: Pivot Points
• Earnings, Chart Patterns & Industries

My Prediction

This is a chart of the Dow utilities on the daily scale.

Two chart patterns come to mind. The red one is a descending scallop (A).

The second one is a V-bottom with an extension, also called an extended V-bottom. I show that at B.

The V-turn is obvious but the extension, which is a slight retrace of the upward move, isn't that pronounced in this example. The utilities continue higher, regardless.

The extended V-bottom is a mid-list performer, ranking 24 out of 39 patterns with upward breakouts in bull markets. It fails about 10% of the time but has an average rise of 40%. That means if you trade it perfectly and often enough, you'll have your clock cleaned 10% of the time but you can make 40%.

Again, that's if you trade it perfectly (in stocks). However, it does highlight that price often continues to rise after an upward breakout. We see a part of that rise already, when price climbed away from the extension.

I expect the utilities to return to the extension before moving too much higher. In technical terms, the move from the bottom of the V looks like a measured move up pattern. After that pattern completes, price often retraces to the corrective phase (which is the extension in this figure).

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

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:

Earnings, Chart Patterns & Industries

Earnings season will be starting in about 11 days.

Here's a symbol list of 11 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: COG, CENX, EMR, EOG, GE, GPRO, MCHX, SMTC, TPX, VFC, WMB. Clink this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

Thursday 9/28/19. New Book, Feeding ThePatternSite.

The above book, Encyclopedia of Chart Patterns 3rd edition is due to arrive on Amazon's shelves later this month.

I negotiated with the publisher to keep the list price the same as the old book, but I don't know how long that will last. When the second edition came out, the list was at $100 but sells for $120 now. So the publisher does raise the price. It has a retail price of just over $100 now.

From Amazon:

"This broadened and revised Third Edition offers investors the most comprehensive, up-to-date guide to this popular method of market analysis. Written by a leading expert on chart patterns, Tom Bulkowski, this edition includes revised statistics on 75 chart patterns including 23 new ones, with pictures and performance statistics, packaged within easy-to-read text.

• Gain essential knowledge of chart patterns and how they are used to predict price movements in bull and bear markets
• New tables include how often stops are hit, busted pattern performance, performance over the decades, and special pattern features
• Joining Tour, Identification Guidelines, Focus on Failures, Statistics, Trading Tactics and Sample Trade is Experience. It puts you in the passenger's seat so you can share lessons learned from Bulkowski's trades
• This edition reports on statistics from nearly four times the number of samples used in the Second Edition and ten times the number in the First Edition.

The Encyclopedia of Chart Patterns, Third Edition further solidifies the reputation of this book as the leading reference on chart patterns, setting it far above the competition."

You can order the book at Amazon.com today and they'll ship it out when the book is published. If you order now, it'll boost the sale rank (from Amazon.com): "Best Sellers Rank: #56,139 in Books." When the second edition was released, it scored #5 in Australia. I'd like to match or beat that, so order your copy today.

$ $ $

Good Friday is a trading holiday in the US, so no regular blog post.

If you wish to support the website, then try one of these options.

1. Perhaps the best way is come to this site and click on an image of one of my books. You'll find the images at the bottom of the page. The click will take you to Amazon.com. The link passes a code to them and I receive a small referral fee but only if you buy something while there during the visit. You do NOT need to buy the book. It's just a vehicle to get you to Amazon with the referral code.

   So each time you want to use Amazon.com to buy something, come to this site first. The referral is free (it does not increase the cost of anything you buy), it's easy to do, and it supports this site.

Thanks! -- Tom Bulkowski

$ $ $

Here's a symbol list of 157 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, AJRD, AYX, AEO, APH, AMAT, ACGL, AWI, ADSK, AVY, AXS, BLL, BZH, BA, BOOT, BRKS, COG, CDNS, CLS, CENX, CHD, CNO, CAG, CSOD, CREE, CSGS, CMI, EMR, EOG, EVH, XOM, FB, FIS, FISV, FLIR, FORM, GD, GE, GILD, GOOGL, GPRO, GES, HBI, HIG, HOV, HUBG, JBHT, ITGR, IBKR, IPG, INTU, ISRG, IVC, NVTA, JCOM, KLAC, KLIC, LRCX, LANC, LLY, LNC, LMT, LXU, MRO, MCHX, MLM, MDCA, MGEE, MOS, ^IXIC, NFG, NOV, NKE, NVDA, OGE, OMI, OXM, PKE, PAYX, PFG, PRU, RL, RMBS, RGA, RNG, RES, SAIA, SAIC, SMTC, SHW, SWN, SSYS, SUM, SNPS, TPX, TER, TXT, VFC, VEEV, VRTX, VMC, WRB, WEX, WMB, XLNX, IYK, IHE, FTEC, FDN, QTEC, FXL, FXI, IHF, IGV, SOXX, IGE, EWA, EWO, EWK, EEM, EWQ, EWG, EWS, EZA, EWY, EWP, EWD, EWL, EWT, TUR, QLD, PPA, PBE, QQQ, PHO, ROBO, IEV, IXN, SSO, MXI, XLF, SPY, XLK, SMH, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

Thursday 4/1/21. 2021 Market Forecast Update

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

Based on sector performance from Fidelity, the best performing sectors for year to date performance as of 31 March 2021 were... (The numbering is how they ranked a month ago.)

Notice that the sectors which performed well a month ago are at or near the bottom of the list. Those near last month's bottom, are riding high.

Here's how they rank the industries, but only the top 10 appear. Year to date returns. The numbering is how they ranked a month ago.

All but one of the industries are new to the list this month. Energy (Oil, Gas and Consumable fuels) tops the list with an average gain over 30%.

$ $ $

Here's a symbol list of 111 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AYI, ADS, DOX, AMWD, APOG, AMAT, AWI, ADSK, BLDR, COG, CE, CENX, CHS, CHD, CLF, CGNX, CAG, CONN, CSOD, CMI, XRAY, EBAY, EMR, EOG, EXC, EZPW, FDS, FAST, FLEX, FLIR, FLS, IT, GE, GPRO, HSC, HSIC, IEX, IIIN, ITGR, IPI, NVTA, JCOM, K, KMB, KLAC, LRCX, LANC, LXU, MRO, MCHX, MLM, MAS, MDT, MGEE, CNR, NTAP, NEU, NI, NOC, OXY, OMC, PNW, PEG, KWR, SAIA, SEE, SMTC, STMP, SSYS, SUM, SNPS, TGT, TPX, TER, TXT, TKR, RIG, TZOO, UPS, VFC, VMC, WU, WMB, IYK, IHI, FXL, IYZ, SOXX, IGE, EWI, EWM, EWW, EZA, EWY, EWP, PHO, ROBO, IXN, XLK, USO, SMH. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski