As of 11/20/2024   Indus: 43,408 +139.53 +0.3%     Trans: 17,002 -26.31 -0.2%     Utils: 1,055 +1.25 +0.1%     Nasdaq: 18,966 -21.33 -0.1%     S&P 500: 5,917 +0.13 +0.0%	YTD  +15.2%    +6.9%    +19.7%    +26.3%    +24.1%	Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,075 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 11/18/24

As of 11/20/2024   Indus: 43,408 +139.53 +0.3%     Trans: 17,002 -26.31 -0.2%     Utils: 1,055 +1.25 +0.1%     Nasdaq: 18,966 -21.33 -0.1%     S&P 500: 5,917 +0.13 +0.0%	YTD  +15.2%    +6.9%    +19.7%    +26.3%    +24.1%
Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,075 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 11/18/24

Tuesday 4/30/24. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Head-and-shoulders, complex tops .

$ $ $

Here's a symbol list of 124 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AFL, AA, ALL, AEO, AMN, ANIK, AAPL, ARCB, ACGL, AIZ, AXS, BSET, BKH, BMY, CX, CNC, CSCO, CNA, CMTL, COTY, CCRN, CTS, DFS, EMN, EBAY, ELV, WIRE, EL, XOM, EZPW, FIS, FE, FCX, GIS, GILD, HQY, HL, HUM, ILMN, INCY, NSP, IPAR, JAZZ, JBLU, JNJ, KLAC, KLIC, LHX, LRCX, LLY, MAN, MRK, MCO, MS, NEE, NWPX, NTNX, OXY, OGE, OXM, PYPL, PCG, PXD, PFG, PHM, QCOM, RGS, SAIA, SAND, SIGI, SHW, SKYW, SWN, SRDX, TOL, UNH, VMI, WAT, WMB, WWW, WDAY, ITA, IYK, IYE, FDN, IAT, IYZ, IXC, MXI, ILF, IHI, EWK, EEM, EWH, EWJ, EWM, EPP, EZA, EWY, EWT, TUR, EWU, PPA, PEJ, XLE, XLB, VIS, VAW. 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 and Training "Miles" (#Ad)

Monday 4/29/24. Market Monday: The Week Ahead

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

My Prediction

I show the Dow utilities on the daily scale.

Outlined in red is a chart pattern called an ascending broadening wedge. That has two trendlines (red lines in this example) trending upward but widening (diverging).

Stocks showing ascending broadening wedges breakout downward 52% of the time. I'm surprised it's not higher. Because the index is near the top trendline, we'll see if it breaks out upward first (by closing above the top red line).

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 130 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AEIS, AFL, ALGT, ALL, AEO, AEP, AON, AMAT, ATR, ARCB, AXS, BSET, BECN, BZH, BMRN, BFH, BCO, BBW, CHKP, CVX, CSCO, CLF, ED, CSGP, COST, COTY, CR, CCRN, CCK, DVN, DFS, DSGR, DTE, BOOM, EIX, EFX, EL, FIS, FE, FIVN, GIS, GMS, HOV, HURC, IDXX, NSP, IBP, ISRG, JNJ, KBH, KLAC, KLIC, LHX, LZB, LEN, M, MCHX, MS, MLI, NFG, NTGR, NEU, NEE, OGE, ORI, OXM, PKE, PRFT, PCG, PHM, KWR, DGX, ROST, RES, SAIA, SAND, SIGI, SMTC, SCI, SKX, SMAR, SO, SCCO, SWN, SPSC, SXI, SUM, TFX, TER, TXN, TTD, TOL, TWLO, VMC, WWW, IDU, FXI, BOTZ, ITB, IHI, EEM, EWQ, EWH, EWM, EPP, EZA, EWY, TUR, GLD, XHB, XAR, XLU. 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and Training "Miles" (#Ad)

Friday 4/26/24. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 113 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AFL, ALGT, AEE, AEP, AEL, AME, AMGN, APA, ADM, BCPC, BECN, BIG, BKNG, BFH, BMY, BRKR, BG, CACI, CNP, CENX, CNA, CL, COTY, DECK, DFS, ELV, EME, EL, EVH, EXC, FE, FORM, GIS, GILD, HQY, HP, HON, HUM, JBHT, HURC, IDXX, JBLU, JNJ, LLY, LMT, M, MLM, MAS, MRK, META, MGEE, MS, MYGN, NTAP, NWL, NEU, NOC, NWPX, NUS, OGE, ASGN, OXM, PRFT, PFE, PCG, PLXS, DGX, RMBS, RGA, ROST, R, CRM, SCCO, LUV, SWN, SRDX, TRGP, TFX, TDC, TER, TXT, TDG, TZOO, TG, VMI, VEEV, WU, WWW, WDAY, IYM, IHE, SOXX, ITB, EWK, EWH, EWS, EZA, EWL, PXJ, XLB, XLU, USO. 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.

$ $ $

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.

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, author: Invest for Two-Comma Wealth and Training "Miles" (#Ad)

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)

Monday 4/22/24. 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 S&P 500 index on the daily scale.

The horizontal green line shows where we (the index, that is) are now compared to where we've been.

The red lines highlight a support zone, bottoming with a 50% Fibonacci retrace of the rise from A to B. Does that make sense?

Translation: I measured the move from valley A to peak B, took half of it and found it matched the bottom red line. Between the two red lines are where the index paused in its move higher.

It's where I expect the index will find support. It might not drop to the top red line or it might drop below the bottom one.

Indeed, I find it hard to believe the index will drop to the red line. My gut says that it'll turn before then. Let's wait and see.

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 147 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACIW, AEIS, AES, AA, ALGT, ALL, AEE, AMGN, AR, APA, AAPL, ATR, ADP, AVY, AVA, BECN, BIG, BFH, BRKR, BBW, CBT, CAL, CLS, COR, CNP, CENX, CHKP, CHD, CIEN, CLNE, CLF, CNX, CGNX, CL, CMCO, CAG, GLW, CSGP, CCRN, DSGR, BOOM, EZPW, FFIV, FICO, FAST, FE, FIVN, FLEX, FORM, GOOGL, HQY, HSII, HWM, HUBG, IIIN, PODD, IBKR, ISRG, K, KELYA, KFRC, LZB, LRCX, LANC, LLY, RAMP, M, MANH, MCHX, MAS, META, MU, MLKN, MUR, ^IXIC, NOV, NFLX, NWL, NKE, NI, NWPX, OGE, ON, OMI, OXM, PANW, PATK, PAYX, PYPL, PG, PGR, PHM, RRC, ROG, SAND, SLB, SRE, SCI, NOW, SHOP, STR, SO, SUM, SRDX, TXN, RIG, UGI, VLO, VECO, WAT, WLK, WOLF, WDAY, IYC, IEZ, FTEC, FDN, QQQ, IXC, IXN, ITB, EWK, ECH, EZA, EWP, EWT, THD, QLD, XHB, MGK, VONG. 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 below industries were the best (rank 1) or worst performing of those I follow.

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

Friday 4/19/24. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 100 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, AKAM, ALK, AMZN, AMED, AME, ANIK, APA, APOG, ARCB, AZTA, BMI, BECN, BIO, BMRN, BMY, BRKR, BLDR, CDNS, CLS, CIEN, CLNE, CNA, CNX, CGNX, ED, CAG, CXW, CSGP, DUK, ELV, EFX, XOM, FFIV, FAST, FLS, HTLD, HSIC, HOV, JBHT, INFN, IRM, JAZZ, JBLU, LZB, LRCX, RAMP, MRTN, MU, MSFT, MCO, MUR, NOV, NWL, NEE, NKE, NWPX, ORI, ON, PETS, POR, RRC, RCKY, RGLD, SAIA, SCI, STR, SO, SUM, TECH, TXN, TMO, RIG, TWLO, VLO, VECO, WAT, WLK, WOLF, WDAY, IYC, IEZ, FTEC, IXN, ECH, EEM, EWJ, THD, QLD, DBA, PBE, USO, VONG. 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.

$ $ $

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.

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

Thursday 4/18/24. 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 horizontal green line shows where the Nasdaq found support over the prior days. It plunged through support on Monday.

At B, the index formed a chart pattern called a right-angled and ascending broadening pattern. This pattern had a downward breakout.

The index pulled back to A. A pullback is a common occurrence among chart patterns where the security (stock) returns to the breakout price (or approaches it). This is a classic example of a pullback working normally.

According to my book, Encyclopedia of Chart Patterns, 3rd Edition, these types of broadening patterns breakout downward 45%. A pullback happens 63% of the time.

What does all of this mean? Nothing is certain but my guess is that you'll see the index continue lower, at least for another day. The CPI, which I discussed yesterday, is still pinned at 0, which is the lowest it can go. Of course, a strong rebound could erase that value and change the CPI to bullish.

$ $ $

Here's a symbol list of 214 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ABM, AYI, AEIS, AMD, AES, AKAM, ALB, ALL, AMZN, AMED, AEE, AXP, AMWD, AME, APH, APA, APOG, ADSK, AVA, AZTA, BSET, BECN, BZH, BMRN, BRC, BFH, BMY, BBW, BLDR, CBT, CACI, CDNS, CALM, CAL, CE, CLS, CX, CLNE, CNO, CGNX, CMCO, CAG, CXW, CR, CMI, XRAY, DDS, DOV, DUK, ECL, EIX, EVH, EXC, EXPD, FAST, FLS, GPS, GIS, GPN, GL, GMS, GPRO, GFF, HTLD, HSII, HELE, HSIC, HSY, HOV, HWM, JBHT, HUN, IDA, IBP, IPAR, ISRG, JBLU, JNJ, KFRC, LRCX, LAMR, RAMP, MTSI, MRTN, MDC, META, MU, MSFT, MOS, MUR, ^IXIC, NOV, NTAP, NWL, NKE, NWPX, NUS, NTNX, NVDA, OXY, OGE, OMCL, ORCL, OUT, PKE, PATK, PCTY, PLXS, PPL, PEG, KWR, RL, RMBS, RRC, RGS, RHI, ROL, ROST, R, SAIA, SCI, NOW, SHW, STR, SWX, SUM, TPR, TPX, TDC, TXN, TXT, TTD, TKR, TOL, RIG, TRV, TWLO, UNM, VLO, WRB, WERN, WU, WLK, WEX, XEL, ITA, IYC, IEZ, IDU, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, IGV, IXN, SOXX, ITB, ECH, EEM, EWH, EWJ, THD, TUR, QLD, PPA, PEJ, PJP, PHO, ROBO, XRT, XAR, XLU, USO, SMH, MGK, VONG. 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 4/17/24. 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.

This chart shows the signals. Red is bearish, white is neutral, and green is bullish. The most recent signal is bearish, as the chart shows.

The CPI has been bearish for about two weeks now.

In this chart, I circled with what looks like cyan the clusters that I thought might be significant. When a cluster appeared, the market dropped. That idea worked well for the first three circles at the start of the year but flopped for the final two (Feb and March 2024).

This chart shows the CPI line only, where signals below 35 are bearish and above 65 are bullish. At A, I highlight where the CPI turned bearish.

This chart doesn't show any hint of a rebound yet.

$ $ $

Here's a symbol list of 163 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, AEIS, AES, AKAM, AMED, AEO, AEP, AMWD, APA, APOG, AZTA, BECN, BZH, BMRN, BAH, BRC, BFH, CLS, COR, CLNE, CLF, CNA, CMCO, CAG, COST, BOOM, EQT, EL, EXPD, FICO, FDX, FLEX, FDP, GPS, IT, GNW, GMS, GFF, GES, HSII, DHI, IBP, ITGR, IRM, JNJ, KBH, K, KLIC, LAMR, LEN, LLY, RAMP, MHO, MAN, MAS, MDC, MRCY, MU, MOS, MLI, MUR, NOV, NWL, NKE, NWPX, NUS, ASGN, PTEN, PCTY, PEN, PFE, PCG, PNW, POR, PHM, RRC, R, SLB, SAIC, SCI, SHW, STR, SRDX, TPR, TDOC, TPX, TOL, RIG, TWLO, VLO, VMI, WMT, WLK, WSC, WDAY, IAI, IYC, IEZ, FXI, IHF, IEV, IGV, MXI, ILF, IGE, ITB, EWA, EWO, EWK, EWZ, ECH, EEM, EWG, EWH, EIS, EWI, EWJ, EWM, EWW, EPP, EZA, EWY, EWD, EWL, EWT, EWU, QLD, PEJ, ROBO, XHB, VONG. 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 4/16/24. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Eve & Eve double tops.

$ $ $

I released a new novel (fiction) titled, Training "Miles", pictured on the right. This is available now in both paperback and e-book. If you have a blog or social media account, then I'd appreciate you telling your followers that the book is available. If you do post a note, then please let me know. I'm having trouble getting the word out about my latest two books. [The other book: Invest for Two-Comma Wealth, same deal except it's non-fiction. Let me know if you mention it in a social media post that it's now available (in print only). It makes a terrific school graduation present according to my friend Ronda.]

About Training "Miles":

Miles is a crystal ball who wants to be a good orb. Not only is it his job to protect his sisters, but he believes he should be in charge.

Sister Sindy thinks otherwise.

When Miles leaves home to help an autistic girl, will his desire to protect the girl cost him his life? Will Sindy remain the family bully or will she help the girl, too?

Find out by reading this inspirational novel about the life of crystal balls that will delight you as often as it brings tears.

$ $ $

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: ACN, ACIW, ADBE, AEIS, AMD, AES, AKAM, ALRM, ALL, AMED, AEO, AEP, AEL, AMWD, APOG, AMAT, ATR, ANET, AIZ, ADSK, AZTA, BECN, BZH, BIO, BMRN, BOOT, BAH, BRC, BFH, BLDR, CDNS, CNC, CENX, CF, CIEN, CTAS, CLNE, CLF, CNA, CMCO, COP, COST, XRAY, FANG, DDS, DOV, DRQ, DTE, BOOM, WIRE, EFX, EL, FICO, FAST, FDX, FWRD, GNW, GPN, GFS, GFF, THG, HIG, HTLD, HSII, HNI, HON, HWM, HUBG, IDXX, ILMN, INFN, IIIN, ITGR, INTU, IRM, KALU, KSS, KLIC, LZB, LH, LRCX, LANC, L, MHO, MANH, MAN, MCHX, MLM, MDT, MRK, MLI, NFLX, NOC, OMCL, ASGN, OMI, PCTY, PRFT, PFE, PCG, PINC, PGR, PHM, RRC, ROL, ROP, CRM, SLB, SAIC, SCI, NOW, SHW, SLGN, STR, SCCO, SPSC, SXI, SRDX, SNPS, TPR, TRGP, TECH, TDOC, TDC, TOL, RIG, TREX, TWLO, UNM, VFC, MDRX, VRSN, V, VC, WMT, WAT, WERN, WPM, WSC, WDAY, IYK, IHE, FTEC, QTEC, FXL, IAT, ITB, EWK, EWZ, EEM, EWH, EWJ, EWW, EPP, EWS, EWT, PBE, ROBO, XHB, XRT, UNG, VHT, VONG. 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)

Monday 4/15/24. Market Monday: The Week Ahead

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

My Prediction

I show the Nasdaq composite on the daily scale.

What I see that's remarkable is that the index has held up so well. Compare the sideways move in the Nasdaq with the steep drop in the Dow industrials.

I show the Dow in the inset.

Of course the industrials are only 30 stocks while the Nasdaq has substantially more issues, weighted by high-tech stocks.

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 1 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, ABT, ANF, ACN, ADBE, AEIS, AMD, AFL, AKAM, ALRM, AA, AEO, AEL, ANIK, ADM, ANET, AIZ, AGO, AZTA, BALL, BIG, BIO, BIIB, BOOT, BFH, BMY, BG, CBT, CNP, CF, CHKP, CVX, CIEN, CINF, CNX, CMCO, CMTL, COP, CSGS, DHR, XRAY, FANG, DDS, DRQ, DTE, BOOM, EIX, EL, FICO, FDX, FWRD, GNW, GL, GS, HSII, HSIC, HWM, HUBG, JBHT, IDXX, ITW, INFN, INTC, KALU, KFRC, KSS, LZB, LANC, LEG, LMT, MANH, MAN, MCHX, MDT, MRK, NEU, NOC, NUS, OR, PKG, PRFT, PPG, PPL, PFG, RL, RRC, RJF, RCKY, ROL, SAIC, SHW, STR, SKX, SCCO, TRGP, TFX, TDC, RIG, VFC, VLO, VRSN, V, VC, WAT, WERN, WPM, WSC, WDAY, IAI, IYK, IHE, QTEC, FXL, BOTZ, IYH, SLV, IYF, IHI, EWK, EWZ, EEM, EWH, EIS, EPP, EWS, EWT, PBE, PEJ, SSO, XLV, XAR, VHT. 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 below industries were the best (rank 1) or worst performing of those I follow.

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

Saturday Supplement 4/13/24. Invest for Two-Comma Wealth Available Now.

I released a new stock market book titled, Invest for Two-Comma Wealth (#Ad). It's available from Amazon.com at the link.

Invest for Two-Comma Wealth ($1,000,000) is an entry-level yet comprehensive book about investing in the securities markets to grow your net worth. From annuities, bonds, and CDs, to common stocks, meme stocks, and cryptocurrency, the book explains each topic in an easy-to-understand manner.

It teaches you about scams, and how to avoid them, including those “free” lunch seminars that try to sell you something, either immediately or months later. It explains why owning your home may not be a good investment and buying gold coins with huge sales charges put you at a disadvantage.

Follow Susan as she does everything right and Basketcase Bob who serves as an example of what not to do.

If knowledge is the way to wealth, then this book is for you. Use the information in this book to invest for the long term and discover that one day you’ve joined the two-comma club.

Price $20, soft cover, print only, 300+ pages.

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

Friday 4/12/24. Pattern Trading Setups for the Weekend.

$ $ $

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: DDD, ACN, AES, AFL, ALRM, AEO, AEP, AFG, APA, AAPL, ADM, AIZ, AGO, ATO, AVA, AZTA, BECN, BIG, BKH, BFH, BBW, BG, CBT, CNP, CRL, CHKP, CVX, CINF, CLNE, CLX, CNO, CNX, CMCO, ED, CONN, COTY, CCRN, CW, DHR, DDS, DFS, DTE, EBAY, ECL, EFX, EL, EVRG, EZPW, FAST, FDX, FE, FLS, FWRD, GE, GPN, GL, GS, GGG, GES, HE, HELE, HP, HSIC, HD, HWM, HUBG, HUM, IDA, INFN, IIIN, INTU, IRM, JAZZ, K, KELYA, KEYS, KFRC, KSS, LZB, LH, LEG, LNC, LMT, L, LXU, MAN, MA, MTRX, MDC, MDT, MRK, MGEE, MCO, MLI, NJR, NTNX, OGE, OLN, OTEX, PANW, PKE, PATK, PTEN, PETS, PFE, PNW, POR, PPL, PFG, PGR, RGS, RHI, ROK, RCKY, SAIA, SAIC, SMG, SEIC, SIGI, SRE, SHOP, SLGN, LUV, SWX, SPSC, TPR, TPX, RIG, TZOO, TWLO, UIS, UNM, VFC, MDRX, WRB, WSO, WERN, WSM, WSC, WOLF, WDAY, IHE, IDU, DDM, FDN, ICF, IHF, IAT, ILF, IYF, EWA, EWZ, EWH, EIS, EWM, EWW, EPP, XLV, VHT, VAW. 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.

$ $ $

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.

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

Thursday 4/11/24. Bitcoin Review

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 bitcoin on the daily scale.

The cryptocurrency has made a strong push higher since the January low but is it running out of steam?

I don't think so. It's paused here and formed a chart pattern called a symmetrical triangle. I show that in red on the chart.

In stocks, symmetricals breakout upward 60% of the time. We see that here, when the currency closed above the top red line. Unfortunately, the breakout didn't hold and the currency returned to do more work in the triangle.

Given the strong push upward since January, I think we'll see the uptrend continue. That's just a guess. Symmetricals can be treacherous.

$ $ $

Here's a symbol list of 173 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ABM, ACN, AEIS, AES, AFL, APD, AKAM, ALRM, AEO, AFG, AMGN, APOG, AIZ, ADSK, AXS, AZTA, BSET, BZH, BMY, BLDR, CAL, CENX, CF, CIEN, CNO, CMCO, GLW, CSGP, CCRN, CSGS, DECK, DDS, DFS, DTE, BOOM, ECL, EL, EXPI, EZPW, FDS, FICO, FARO, FDX, GFS, GS, GPRO, GES, HBI, HLIT, HSII, HELE, HSIC, HNI, DHI, HWM, HUN, INFN, IIIN, IPAR, TILE, IPI, IRM, JKHY, KBH, KFRC, KSS, LZB, LH, LAMR, LANC, LEN, LLY, LNC, MHO, MANH, MRO, MRTN, MLM, MTRN, MDT, MRK, NWL, NWPX, NOVT, NUS, ASGN, OTEX, PATK, PETS, PFG, PG, PHM, KWR, RMBS, RJF, REGN, ROG, ROP, R, SAIC, SCI, NOW, SHOP, SKX, LUV, SNPS, TPR, TDY, TPX, TDC, TOL, RIG, TZOO, TREX, SLCA, UPS, UNM, VFC, VMI, MDRX, WEX, WSC, WWW, WDAY, IYC, IYE, IHE, DDM, FTEC, IYH, IEV, IGV, IXC, ITB, EWO, EWQ, EIS, EWI, EWY, EWL, PXJ, PJP, PHO, ROBO, XLV, XHB, XRT, XAR, XLK, VHT. 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 4/10/24. 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 CPI has turned neutral after being bearish, as the chart shows.

The switch from bearish to neutral could be a signal that the big retrace I've been expecting isn't happening yet.

I'm looking for the uptrend to flip the neutral bars to bullish.

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've decided not to include this portion of the post in the future. Why? Because the indicators on this chart just followed what the index is doing. They don't add value. If you disagree, then write me and convince me and I'll consider giving it a stay of execution.

$ $ $

Here's a symbol list of 126 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AES, AFL, AEO, AFG, ANIK, APOG, ANET, ASH, AIZ, BIG, BKNG, BCO, BLDR, CBT, CACI, CX, CENX, CF, CHKP, CHD, CIEN, CINF, CNO, CL, CMCO, CONN, GLW, CROX, DECK, DDS, DUK, EXC, EZPW, FICO, FDX, FE, FISV, FCX, FRD, IT, GNW, HLIT, HQY, HTLD, HSII, HELE, HSIC, HOV, HUN, ITGR, KEYS, KFRC, KMB, KSS, LDOS, LLY, LNC, LMT, LPLA, MANH, MAN, MRO, MLM, MTDR, MDT, MRK, MLKN, NFLX, NTGR, NTAP, OMCL, ORCL, PAYX, PCTY, PETS, PFG, RMBS, RJF, RGA, RNG, SIGI, NOW, SLGN, SCCO, SNPS, TPR, TRGP, TEVA, TMO, RIG, TZOO, TG, TREX, UNM, VECO, WSC, ZBRA, IHE, DDM, ICF, ILF, IEO, IYF, EWI, EPP, EWS, EZA, EWY, EWP, EWT, THD, PXJ, XLF, XLU. 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 4/9/24. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring descending broadening wedges.

$ $ $

Here's a symbol list of 112 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, A, AKAM, ALB, AEO, AEL, AXP, AIG, ASH, AZTA, BLDR, CACI, CENX, CDAY, CVX, CHD, CIEN, CLX, GLW, CSGS, DDS, EVRG, EXC, EZPW, FDX, FLEX, FWRD, FDP, FRD, GNW, GFF, THG, HL, HP, HUBG, HUN, IDXX, INTC, IPI, KELYA, KMT, LHX, LDOS, RAMP, LMT, L, MGY, MANH, MAN, MRO, MTDR, MTRN, MTRX, MGEE, NFG, NTGR, NEU, OLN, OTEX, ORCL, PTEN, PNW, PXD, QCOM, DGX, RL, RTX, RGS, ROST, SAND, SLB, STR, SKYW, LUV, SR, SCS, TDY, TFX, TEVA, TXT, TKR, RIG, TZOO, TG, VMI, VRTX, VC, WPM, WSC, ZBRA, IAI, FXI, IEV, MXI, ILF, IEO, EWO, EWK, EWZ, EEM, EWQ, EWG, EWI, EWS, EWD, EWT, PXJ. 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)

Monday 4/8/24. Market Monday: The Week Ahead

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

My Prediction

Not a lot is happening today in the Dow industrials, which I show on the daily scale.

A double top appears at AB, confirmed as a valid chart when the index closes below the lowest valley between the two peaks.

That happens, I think, on the bar before C.

The index has dropped to the brown line, a line of support. I drew that from today (Friday) to the left, so see how it lines up with prior price action.

Below that is a more substantial support, shown by the green lines (and cleverly labeled 'Support?'), setup by a sideways move in the index during December 2023/January 2024.

If we have a serious retrace, I would expect the index to touch the green area and rebound upward.

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 8 days.

Here's a symbol list of 108 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AEIS, A, AKAM, ALK, AMZN, ARCB, ADM, AZTA, BMI, BALL, BAX, BECN, BZH, BIIB, BOOT, BFH, BMY, CACI, CALM, CX, CDAY, CHD, CIEN, CSCO, CLNE, CLX, CXW, CSGS, EIX, EQT, FDX, FNV, GD, GPN, GFS, GPRO, HL, HP, HUBG, HUM, HUN, ILMN, INTC, IPI, KALU, LLY, LPLA, LXU, MANH, MCHX, MOS, NFG, NTGR, PTEN, PETS, PFE, PINC, PFG, PG, PRU, DGX, RTX, RGS, RCKY, ROST, SCI, NOW, LUV, SWX, SWN, SPSC, SCS, TPR, TPX, RIG, TZOO, UHAL, UGI, VECO, VRTX, VC, WLK, WOLF, WWD, WDAY, XEL, IYK, IHE, BOTZ, SLV, EWG, THD, TUR, ROBO, XLV. 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 below industries were the best (rank 1) or worst performing of those I follow.

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

Friday 4/5/24. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 268 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AXDX, ADTN, AMD, AES, AFL, ATSG, AKAM, ALB, ALL, AEO, AXP, AME, AMAT, ANET, ARW, ASH, AVY, AZTA, BMI, BCPC, BSET, BAX, BZH, BIG, BKNG, BOOT, BAH, BRC, BCO, BMY, BRKR, CBT, CX, COR, CNC, CENX, CHKP, CHD, CIEN, CINF, CTAS, CNA, CNO, CGNX, CMCO, CAG, CONN, GLW, CSGP, CTS, ^DJT, DTE, BOOM, EXP, EMN, EBAY, ELV, EME, EMR, EFX, EQT, EL, XOM, FFIV, FICO, FARO, FAST, FDX, FIVN, FTV, FNV, IT, GPN, GFS, GS, GPRO, GGG, HBI, THG, HIG, HL, HOV, JBHT, HUN, IEX, IDXX, ITW, ILMN, NSP, PODD, INTC, JKHY, KBH, KELYA, KMT, KEYS, KLAC, KLIC, LH, LRCX, LDOS, LNC, L, LXU, MTSI, MCHX, MAS, MTRX, META, MSFT, MS, NBR, ^IXIC, NFG, NOV, NEE, NWPX, NVDA, OLN, ASGN, ON, OTEX, ORCL, OR, OMI, PDCO, PCTY, PEN, PFE, PPG, PFG, PG, PGR, PRU, PEG, KWR, QCOM, DGX, RJF, RGA, RNG, ROK, ROL, ROP, RES, R, ^GSPC, SAIA, CRM, SAND, SEIC, SRE, SHW, SHOP, SO, SWX, SWN, SR, SXI, SCS, SSYS, TPR, TDY, TXN, TTD, TMO, TKR, TOL, TDG, RIG, TZOO, UHAL, UPS, UNM, VEEV, VRTX, VC, VMC, WAT, WSO, WEX, XEL, IYM, IAI, IYK, IYC, IHE, DDM, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, ICF, IHF, IYZ, IEV, IGV, MXI, IXN, ILF, SOXX, IYF, IHI, EWA, EWK, EWQ, EWG, EWH, EWI, EWJ, EWS, EWT, TUR, QLD, IBB, PBE, PEJ, PXJ, PHO, SSO, ROBO, XLY, XLV, XHB, XLI, XLB, SPY, XLK, USO, SMH, VIS, VAW, MGK, VONG. 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.

$ $ $

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.

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

Thursday 4/4/24. 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 index found support at the red line, mostly during Wednesday's trading activity (that is, a week ago). The index gapped around that support at A, forming a large hole on the chart.

The gap filled quickly (on 4/3) and hit resistance at the green line. From there, it plunged and recovered slightly.

To me, this suggests the index is going to struggle to rise. I'd guess another down day on Thursday before trying to push through resistance going up to 16,500, probably having trouble piercing 16,400.

$ $ $

Here's a symbol list of 170 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACIW, AYI, AMD, AKAM, ALK, AA, DOX, AEL, AMWD, APOG, AMAT, AWI, ADSK, AZTA, BCPC, BSET, BZH, BBY, BIG, CDNS, CALM, CAL, CPB, CX, CNP, CNX, COST, COTY, CROX, CSGS, DHR, DECK, DVN, FANG, DDS, DRQ, DTE, BOOM, WIRE, EOG, EL, EG, EVH, EXPD, FFIV, FDS, FDX, FIS, FLEX, FTNT, GPS, GNW, GPN, GFS, GFF, HLIT, HL, HELE, HP, HD, HOV, HUBG, IDA, ILMN, IBP, INTC, ISRG, JNJ, KFRC, LEN, RAMP, LOW, MHO, MTSI, M, MGY, MAN, MLM, MTRN, MRK, MGEE, NWL, NEE, JWN, ORI, PANW, PTEN, PEN, PCG, PPL, PG, PRU, PEG, PSTG, QTWO, RHI, RCKY, ROST, RES, SAND, SMG, SRE, SMTC, SHOP, SKX, SKYW, SO, LUV, SCS, SRDX, SNPS, TRGP, TPX, TER, TOL, TDG, RIG, TZOO, UGI, UNH, VFC, VLO, VECO, V, WERN, WLK, WSM, WOLF, WWW, IYK, IYE, IEZ, BOTZ, IYZ, SLV, IGE, IEO, EWA, EWO, EWZ, ECH, EEM, EWJ, EWW, EWS, EZA, EWD, EWT, PEJ, PXJ, PJP, XRT, UNG, USO, VIS. 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 4/3/24. 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 CPI is 10.3, which is bearish, hence the vertical red line on the far right of the chart.

As you can see, the index has been climbing since the November low without a significant retrace (like 30%). It did move sideways in late December to January (circled), so my guess is that's where the retrace will rebound (find support).

However, we first have to see the index make a meaningful drop. This could be the start of the retrace but I've been fooled before, so we'll have to wait and 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).

I show green lines to illustrate the trend from November as I mentioned in the discussion of the prior chart.

According to this chart, there's nothing to worry about. The trend is still upward even if today (Tuesday) was a down day.

The prior chart is bearish and this is bullish. Go figure. Because signals on the CPI chart can change for up to a week, let's pretend the trend remains up for another week and then reevaluate.

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Here's a symbol list of 178 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACIW, AYI, A, ALRM, AA, AEL, AIG, AMWD, AMGN, ANIK, AR, AON, AAPL, AGO, ATO, ADSK, AVNT, BMI, BCPC, BSET, BFH, BBW, CDNS, CPB, CENX, CDAY, CRL, CIEN, CLNE, CNX, CMCO, CONN, COST, COTY, CRH, DHR, DECK, XRAY, EFX, EL, EG, EVH, XOM, EZPW, FDS, FICO, FDX, FE, FLEX, FNV, GE, GPN, GGG, GFF, HL, HSII, HELE, HP, HOV, HURC, IIIN, IPAR, IPG, ISRG, JBLU, KALU, KMT, KFRC, LZB, LAMR, LEG, M, MANH, MAN, MCHX, MLM, MTDR, MRCY, MS, MLI, NJR, NWL, NEE, NI, NOVT, NTNX, OMCL, ON, OTEX, PANW, PDCO, PYPL, PEN, PETS, PPL, PINC, PG, RNG, RHI, RCKY, ROP, CRM, SAND, SEE, SCI, STR, SKX, SWX, SCS, SSYS, SUM, SRDX, TECH, TDOC, TDY, TPX, TXT, TMO, TZOO, TG, TREX, VEEV, VRTX, WDAY, XEL, ITB, IHE, FTEC, BOTZ, ICF, IHF, IEV, IGV, IXC, IXN, SLV, IYF, IHI, EWK, EIS, EWJ, EWW, EWS, EWP, EWT, TUR, EWU, PBE, PHO, ROBO, XLF, XLV, XHB, XLK, SMH, VAW, MGK, VONG. 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 4/2/24. Slider Trading Quiz!

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I show another slider trading quiz featuring bump-and-run reversal top.

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Here's a symbol list of 225 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, AXDX, ACIW, AYI, AMD, AES, ATSG, ALGT, AEO, AEP, AEL, AMWD, AR, ATR, ARCB, AWI, AGO, ATO, ADSK, ADP, AVNT, BMI, BCPC, BIG, BIO, BKH, BA, BOOT, BRC, BBW, BG, CALM, CAL, CPB, CLS, CRL, CHD, CI, CINF, CLNE, CNA, CNX, CMCO, CONN, CSGP, CRH, CCRN, DHR, DECK, XRAY, DVN, DDS, DSGR, ^DJT, ^DJI, DTE, EME, EFX, EQT, EL, EVRG, EVH, EXC, EXPD, XOM, EZPW, FICO, FARO, FDX, FE, FLEX, FLS, FMC, FTV, FNV, FCX, FDP, GD, GNW, GFF, THG, HLIT, HTLD, HL, HSII, HOV, HUBG, HUM, ILMN, INCY, NSP, IIIN, IPAR, IBKR, JKHY, JBLU, KELYA, KMT, KFRC, KSS, LZB, LAMR, LEG, MANH, MAN, MRO, MKTX, MRTN, MLM, MDC, MSFT, MS, MLI, MUR, NWL, NEE, NI, OMCL, ASGN, PANW, PKE, PAYX, PCTY, PYPL, PEN, PETS, PXD, PINC, PSTG, QTWO, RTX, RGS, RGA, ROP, ^GSPC, SAND, SMG, SEE, SEIC, SRE, SLGN, SMAR, SXI, SUM, SRDX, TGT, TECH, TDY, TPX, TDC, TTD, TDG, RIG, TZOO, TREX, TWLO, V, WSC, WOLF, WWW, IYK, IYC, ITB, FXI, BOTZ, ICF, IYH, IHF, IAT, IEV, ILF, IYF, IHI, EIS, EWW, EPP, EWD, EWT, TUR, EWU, PPA, PHO, ROBO, XLF, GLD, XHB, XLB, XAR, VAW. 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.

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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)

Monday 4/1/24. April Market Forecast Update

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

Forecast

Here's the updated 2024 market forecast, presented in slider format.

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 over.

Here's a symbol list of 158 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AES, A, ALK, ALGT, AMED, AEL, ANIK, AR, APA, ARCB, ARW, ASH, AIZ, ATO, ADSK, AVA, BECN, BZH, BERY, BIG, BA, BAH, BRC, BCO, CPB, CLS, COR, CLF, CNA, CNX, CAG, CONN, XRAY, DVN, DSGR, EIX, EOG, EQT, EG, EXC, EXPD, XOM, FICO, FARO, FDX, FIS, FE, FIVN, FLEX, FCX, GME, IT, GIS, GGG, HBI, THG, HLIT, HP, HOV, ILMN, IPI, JNJ, KBH, K, KSS, LZB, LEG, LEN, L, MHO, MRO, MDC, MLKN, MUR, NFG, NEU, NEE, NI, NOC, NUS, PDCO, PTEN, PAYX, PCTY, PFE, PCG, PXD, PPL, PFG, PGR, PSTG, DGX, RGS, ROP, R, SAND, SHW, SLGN, SKX, SMAR, SCCO, SWN, SCS, SUM, SRDX, TGT, TDOC, TDC, TTD, TDG, RIG, TRV, TZOO, TG, UIS, VFC, WRB, WPM, WSC, WOLF, IAI, IYK, IYE, ITB, IEZ, IHE, IAT, IGE, IYF, ECH, EWW, EWD, EWL, EWU, IBB, PXJ, GLD, UNG, VHT. 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 below industries were the best (rank 1) or worst performing of those I follow.

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