As of 12/27/2024   Indus: 42,992 -333.59 -0.8%     Trans: 16,031 -73.46 -0.5%     Utils: 987 -4.51 -0.5%     Nasdaq: 19,722 -298.33 -1.5%     S&P 500: 5,971 -66.75 -1.1%	YTD  +14.1%    +0.8%    +12.0%    +31.4%    +25.2%	Targets    Overview: 12/12/2024     44,200 or 41,750 by 01/01/2025   16,700 or 15,500 by 01/15/2025   1,050 or 975 by 01/01/2025   20,500 or 19,300 by 01/01/2025   6,100 or 5,775 by 01/01/2025
Chart Pattern Indicator: on 12/27/24

As of 12/27/2024   Indus: 42,992 -333.59 -0.8%     Trans: 16,031 -73.46 -0.5%     Utils: 987 -4.51 -0.5%     Nasdaq: 19,722 -298.33 -1.5%     S&P 500: 5,971 -66.75 -1.1%	YTD  +14.1%    +0.8%    +12.0%    +31.4%    +25.2%
Targets    Overview: 12/12/2024     44,200 or 41,750 by 01/01/2025   16,700 or 15,500 by 01/15/2025   1,050 or 975 by 01/01/2025   20,500 or 19,300 by 01/01/2025   6,100 or 5,775 by 01/01/2025
Chart Pattern Indicator: on 12/27/24

Tuesday 8/31/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Rockwell Collins (COL).

$ $ $

Here's a symbol list of 164 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AYI, ALK, ADS, AYX, AMZN, AIG, AMWD, APH, AAPL, AMAT, ATR, AWI, AGO, ADSK, AXS, BCPC, BSET, BECN, BZH, BIO, BAH, BG, CDNS, CRL, CLF, CNA, CGNX, CMTL, CLR, CTS, DVN, DFS, DRQ, EMN, EL, XOM, FAST, FDX, FOE, FLS, FORM, FTNT, FDP, FRD, GPN, GL, GPRO, EVRG, THG, HLIT, HSC, HIG, HSII, HNI, HD, HURC, IDXX, INOV, IIIN, JCOM, JBLU, LNC, LOW, M, MANH, MCHX, MTRX, MLHR, ^IXIC, NCR, NI, NOC, NUS, OGE, ASGN, OTEX, OUT, PANW, PYPL, PICO, PINC, PGR, PHM, QCOM, RMBS, RJF, RNG, ^GSPC, SLB, SCHW, SMG, LUV, SCS, SUM, SRDX, TPR, TECH, TXT, RIG, TZOO, TG, TREX, UNM, VMI, VC, WRB, WEX, WWW, ITA, IAI, IEZ, FTEC, QTEC, FXL, IAT, IYF, EWC, EIS, EWM, EWS, EWT, THD, EWU, QLD, PPA, PBE, PEJ, QQQ, IEV, IXC, IXN, SSO, XLY, XLF, XLI, SPY, XLK, VIS, 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 8/30/21. Market Monday: The Week Ahead

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

My Prediction

The Dow transports appear in the chart on the daily scale.

Unlike the Dow industrials, the transports have had a more difficult time since May. The Dow moved sideways to down until mid June. The transports bottomed out in mid July and the drop was steeper.

A symmetrical triangle appears outlined in red. It acts as a reversal of the downward trend. Price broke out upward and threw back to the top red trendline before resuming the uptrend.

Now, we see the index climbing with the other indices.

Will the uptrend last? I think it will (fingers crossed because the weakest month of the year is days away). Reversals can be more powerful than continuation breakouts and I'm thinking this is one of those cases. So I'm looking for the uptrend to be long and prosperous.

Beam me up, Scotty.

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 125 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AYI, ALRM, ALKS, AYX, DOX, AXP, AMWD, AMAT, AIZ, AGO, ADSK, AVNT, AXS, BCPC, BECN, BZH, BIG, EPAY, BRC, BLDR, CBT, COG, CLS, CRL, CTXS, CGNX, CLR, CTS, CW, DECK, DVN, D, DRQ, EMN, EOG, EVH, FCX, FRD, GIS, GNW, GGG, EVRG, THG, HQY, HP, HON, HOV, HURC, IBP, IIIN, IBKR, TILE, KBAL, LHX, MHO, MANH, MCHX, MTRN, MTRX, MU, NBR, NFG, NCR, NTGR, NWPX, OLN, OMCL, ASGN, OUT, PATK, PNW, RMBS, RLI, ROK, SMG, SEIC, SIGI, SMTC, SCCO, SCS, SSYS, SRDX, TFX, TPX, TDC, TMO, RIG, TG, SLCA, UNM, WDAY, ITA, IYK, FTEC, BOTZ, IHF, EIS, EWI, EWM, EWD, THD, QLD, QQQ, IXN, MXI, XLI, XAR, UNG, USO, VIS. 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 8/27/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 131 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AYI, AMD, AFL, APD, ALL, AYX, AMZN, AFG, AIG, AMWD, AAPL, ACGL, AIZ, BECN, BZH, BMRN, BBW, BG, CDNS, CALM, CPB, CX, CENX, CRL, CHD, CINF, CNO, CGNX, CL, CMTL, CLR, GLW, COST, COTY, CRH, CCK, DVN, ^DJI, DUK, EMN, WIRE, EXC, FDS, FICO, FE, FMC, GIS, GNW, GPN, GL, HBI, THG, HURC, IDXX, INCY, INFN, NSP, IIIN, INTC, IPI, KALU, K, KBAL, LZB, LH, LLY, LNC, L, MANH, MAN, MRTN, MTRX, MLHR, MLI, NFG, NCR, NTAP, NKE, NI, JWN, OMC, OUT, OMI, OXM, PATK, PAYX, PYPL, PICO, PLXS, POR, PFG, PRU, ROG, SAIA, CRM, SCHW, SWX, SR, SSYS, TDC, TSCO, UGI, UNM, VMI, WRB, WAT, WSO, WU, WSM, ZBRA, IYC, IHE, DDM, FDN, IAT, IYF, EWC, ECH, EWM, TUR, PJP, 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.

$ $ $

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 17 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 3.0%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 8 bullish chart patterns this week and 0 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 8/26/21. 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 don't see much happening in the picture. The Thursday bottom (lowest on the chart, and associated bottoms) almost looks like a head-and-shoulders bottom but I thought it a stretch.

Then I pondered resistance at A, circled. Price moved sideways for a long time during that day. At B, the next day, price bumped up against that resistance.

Then look what happened at C. Nothing. The index blew through resistance and kept going up. I would have guessed that it would stop at the red line and turn lower, but it didn't. Since then the momentum of the index has dropped off. It's struggling to rise and looks as if it's about to tumble.

Even though the above probabilities suggest a higher close, if that happened it would surprise me.

$ $ $

Here's a symbol list of 102 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AJRD, AKAM, AYX, AMED, AEO, APH, AAPL, AMAT, ACGL, BBBY, BIG, BMY, CACI, CALM, CPB, CENX, CRL, CHD, CLX, CGNX, CTSH, CMTL, CLR, CREE, CRH, CCRN, DVN, EFX, EQT, EL, EZPW, FFIV, FDS, FE, FORM, GIS, GPN, HELE, DHI, HUBG, INFN, IIIN, IBKR, JCOM, JBLU, JNJ, KALU, KLAC, LAWS, LDOS, LMT, MHO, MANH, MTRN, MRK, MSFT, NCR, NTAP, NWL, NI, JWN, OGE, ORI, OUT, PYPL, PRFT, PG, RGA, SMTC, SSYS, TRV, UNM, VRSN, V, WU, WSM, ZBRA, IAI, IEZ, IHE, FTEC, FXL, IAT, IYZ, EWC, ECH, EIS, EWM, EWW, EZA, EWP, EWT, QLD, PBE, QQQ, ROBO, IXN. 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 8/25/21. 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.

Three days ago, the indicator turned green. That green bar on the far right of the chart is bullish. A glance at the thin blue line at the bottom of the chart is also bullish. However, today it struggled to move higher. You can just see the tip of it hanging off the green bar near 100 (right scale).

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 lines (red and blue) show improvement from a week ago.

Look at the trend setup by the red line. From the left to the right, it arcs upward and eases lower starting in mid March. Maybe it's predicting weakness in September and October. Maybe not.

The blue line over the same period also shows an arc but it's more sedate. Compare that to the index, which has climbed steadily from left to right. Hmm. Bearish divergence.

The prior chart is bullish with a hint of weakness today (Tuesday). This chart looks bullish but the bearish divergence is a warning. I still think weakness next month and October will see the indices drop, but I've been wrong before.

$ $ $

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: ABT, AXDX, ACIW, ATSG, AKAM, AA, AYX, AMWD, APA, AWI, ASH, ATO, ADSK, BCPC, BBBY, BBY, BIO, BKH, EPAY, BLDR, CNC, CENX, CHKP, CVX, CLX, CGNX, CTSH, CL, CMCO, ED, CLR, CTS, DVN, WIRE, EL, EXPD, FDS, FICO, FE, FLS, FTNT, FCX, GME, GES, HTLD, HSII, HELE, HON, HUBG, JBHT, IIIN, ITGR, IBKR, NVTA, JBLU, KBAL, KLIC, LZB, LLY, MANH, MRO, MCHX, MTRN, MRK, MSFT, MLHR, MCO, MOS, MUR, NOV, NCR, NXGN, NI, OXY, ORI, OMCL, OUT, OMI, PANW, PNW, DGX, RHI, ROG, NOW, SLGN, SKX, LUV, SWX, SXI, TPR, TDC, TSCO, RIG, UNM, VLO, VEEV, VRSN, WMT, WLK, IYM, IYC, IYE, IEO, IEZ, FTEC, FDN, QTEC, FXL, BOTZ, ICF, IYZ, IGV, SLV, IGE, EWA, EWK, EWC, EEM, EIS, EWJ, EWM, EPP, EZA, EWY, THD, QLD, PXJ, QQQ, ROBO, IXC, IXN, ILF, MXI, XLY, XLP, XLE, XLB, XRT, XAR, USO, VAW. 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 8/24/21. Slider Trading Quiz! Coach (COH)

$ $ $

I show another slider trading quiz featuring Coach (COH)

$ $ $

Here's a symbol list of 123 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, AXDX, ACIW, AJRD, ALRM, AYX, AEO, AIG, AWI, ASH, AIZ, AVNT, BAX, BERY, BIG, BKH, BAH, BRC, BMY, BBW, CPB, CX, CF, CRL, CHD, CNA, CNO, CTSH, ED, COP, COTY, CCRN, DHR, DVN, DDS, BOOM, EOG, EL, EVH, FDS, FE, FLS, FWRD, FDP, GS, GES, THG, HIG, HOV, IDXX, ILMN, IIIN, IBKR, IPI, IVC, NVTA, KBAL, KSS, LH, LEG, LLY, MCHX, MRTN, MA, MTRX, MDT, MRK, MLHR, MUR, MYGN, NOV, NCR, NWL, NI, JWN, NWPX, NUS, NVDA, OGE, ORI, OLN, OMCL, OUT, PKG, PNW, QCOM, DGX, RMBS, RES, SAIA, SRE, NOW, SWX, TDC, TSCO, TRV, TG, VC, WMT, WLK, XLNX, ITA, IHE, FTEC, ICF, IYZ, EIS, EWD, THD, QLD, PPA, DBA, PEJ, QQQ, IXN, XLP, GLD, 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 Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Monday 8/23/21. Market Monday: The Week Ahead

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

My Prediction

I show the Dow utilities on the daily scale.

There's not much to comment about on this chart. Big picture: The index is moving up but in wide swings. The move higher after the March low was a nice straight-line run. After that, the path turned messier.

Of the 5 indices I follow, this one is in last place for year-to-date performance. But that performance doesn't include dividends, so with divs included, performance would narrow with the others (but would probably still remain in last place).

In red (A), I show an ascending scallop but with a downward breakout. Downward breakouts are rare in a bull market.

The green turn (B) is a rounded bottom. There's no handle on the right, so it's not a cup with handle.

It looks as if the utilities are making another run upward. I don't know how long this will last, but the two utility stocks I own are enjoying the lift. Plus, they pay big dividends (because I've owned them a long time and the companies have raised the dividend over time).

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 127 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ALRM, DOX, AMED, AEP, AEL, ANIK, ADM, AGO, ATO, ADSK, AVY, AVNT, BIG, BRC, BMY, BG, COG, CDNS, CX, CF, CHS, CINF, CSCO, CGNX, CTSH, CMTL, ED, CREE, CRH, CCRN, DDS, DUK, BOOM, EIX, EL, EVH, FDS, FICO, FAST, GPS, GFF, THG, HSC, HTLD, HOLX, HOV, HUBG, HURC, IDA, ILMN, INCY, IPAR, IPI, INTU, NVTA, KBAL, MHO, MRTN, MA, MSFT, MOS, MUR, MYGN, ^IXIC, NTGR, NJR, JWN, NVDA, OGE, ORI, OMCL, PKE, PTEN, PYPL, PCG, PLXS, PPG, PRU, RMBS, RCKY, ROG, RES, SMG, SRE, SXI, TECH, TDC, TKR, RIG, TRV, VLO, VRSN, VC, WEX, WSM, WDAY, XLNX, ZBRA, IAI, IYC, QTEC, FXL, ICF, IHF, IYZ, IGV, EWK, EWC, ECH, EWI, EZA, EWP, EWU, PPA, DBA, PBE, ROBO, IEV. 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 8/20/21. Pattern Trading Setups for the Weekend.

$ $ $

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: MMM, ACN, ADBE, AJRD, AES, ALRM, AA, AEP, AXP, APH, APA, ATR, ADM, ASH, ATO, BAX, BA, BRC, BBW, CBT, COG, CE, CX, CENX, CF, CRL, CHKP, CVX, CIEN, CLF, CMCO, COP, CLR, CSOD, COST, CR, CTS, CMI, DVN, DDS, DFS, DOV, DRQ, EMN, EIX, EQT, XOM, FB, FDS, FDX, FOE, FIVN, FLEX, FLS, FWRD, FCX, GNW, GS, GFF, HSC, HP, HNI, HOLX, HD, IEX, IDXX, ILMN, INOV, NSP, IPI, NVTA, JAZZ, JBLU, KALU, KBH, KMT, KBAL, KSS, LEG, MTSI, M, MRO, MRTN, MDT, MGEE, MSFT, MOS, MUR, MYGN, NBR, NOV, CNR, NCR, NTGR, NTAP, NKE, JWN, NWPX, NVDA, OXY, OLN, OMCL, OMC, OUT, OMI, PKE, PATK, PTEN, PETS, PNW, PG, QCOM, RMBS, RGA, REV, RES, SLB, SCHW, SAIC, SIGI, SCCO, SCS, SNPS, TDC, TEVA, TKR, TJX, RIG, TRV, SLCA, UNM, VLO, VC, WLK, WMB, ITA, IYM, IYK, IYC, IYE, IEO, IEZ, IHE, FXL, FXI, ICF, IAT, IGE, EWA, EWC, EEM, EWQ, EWG, EWI, EWJ, EPP, EZA, EWP, EWD, TUR, EWU, PBE, PEJ, PXJ, ROBO, IEV, IXC, IXN, ILF, MXI, XLE, XLB, XRT, XAR, USO, VIS, VAW. 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 13 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 2.3%. 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 7 bearish ones with any remaining (0) 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 8/18/21. 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 chart.

The cryptocurrency made a Eve & Adam double bottom at AB. It confirmed as a valid chart pattern at C when the coin climbed above the highest peak set between the the two bottoms.

A nice upward run followed, almost fulfilling the measure rule for double bottoms. That's the height of the pattern (from lowest of the two bottoms (A) to the peak between the two bottoms (C)) added to C. It appears the currency fell just short of the target.

There's another chart pattern here, but I don't highlight it on the chart. It's a high and tight flag. That's when price doubles (I use 90% as a minimum) in less than 2 months. The move from B to D qualifies as the double or near double. If the pattern works as it's supposed to, look for a retrace to form (which it appears to be doing now). The flag portion of the pattern can be any type of retrace providing it doesn't retrace too far nor last too long.

Supposedly, the next move will be upward, seeing the currency double in price. However, the pattern has a lousy track record. In stocks, the pattern either doesn't confirm (price has to close above the high at D) or it moves up 10% to 15% before reversing. It doesn't come anywhere near doubling. But that's for stocks...

$ $ $

Here's a symbol list of 117 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AES, ALRM, ATO, BLL, BAX, BA, BMY, COG, CX, CF, CVX, CIEN, CINF, CLX, CMCO, ED, CAG, COP, CLR, CREE, CRH, DHR, DVN, DDS, ^DJU, D, WIRE, XOM, FDS, FIS, FE, FWRD, FCX, HBI, HSIC, HOLX, IVC, NVTA, JNJ, K, KMB, KLIC, LOW, LXU, MTSI, MCHX, MDT, MRK, MGEE, MUR, MYGN, NTAP, NI, JWN, ORI, OMCL, PTEN, PPL, PINC, KWR, DGX, RL, RMBS, REV, RES, CRM, SAIC, SEIC, SCCO, SWX, SWN, TDC, RIG, TRV, TG, VFC, VLO, VEEV, VRTX, VC, WMB, IYK, IHI, IEO, IEZ, IHE, IYH, IGV, EWA, EWO, EWC, EWJ, EWD, EWT, PPA, PBE, PXJ, IXN, XAR, UNG, 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

Wednesday 8/18/21. 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.

My guess is the bearish signal we see in the CPI (vertical red bar on the far right) is because of the way the indicator is constructed. Signals can appear or disappear for up to a week but are often solid after 3 days. This is the first day the signal appeared.

I think the market tumbled on profit taking spurred on by news the markets didn't like. I think this is a short-term downswing.

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 lines (red and blue) are worse this week than last. That's clear on the chart with the downward trend, highlighted strongly by the drop in the red line.

Last week, I thought the charts looked bullish (CPI chart shows bearish divergence, though) and the markets climbed. This time, though, they look weak. However, I think the weakness is temporary.

Having written that, September, the weakest month of the year is coming up fast, so maybe look out below. Just don't be surprised if the markets rise instead.

Yes, I'm playing both sides of the street here...

$ $ $

Here's a symbol list of 152 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AEIS, AES, ALRM, ALB, AA, ALKS, ADS, AEO, ANTM, APA, AVA, BSET, BIG, BA, BBW, COG, CACI, CE, CX, CNC, CENX, CF, CIEN, CINF, CMCO, CMTL, CAG, COP, CREE, CRH, DDS, DRQ, BOOM, WIRE, EQT, RE, EVH, XOM, FDS, FE, FISV, FLS, FMC, FCX, GPS, GE, GES, HQY, HP, HSIC, HOLX, HD, INOV, INTU, NVTA, JCOM, JAZZ, KELYA, KFRC, LOW, MTSI, MRO, MOS, MUR, NBR, NCR, NTAP, NEU, NXGN, JWN, NUS, OXY, OMCL, PTEN, PICO, PNW, PINC, PHM, KWR, RMBS, RGA, RES, SLB, SCCO, LUV, SSYS, TDC, TOL, RIG, TZOO, SLCA, UGI, VFC, VLO, VRSN, WMB, ITA, IYM, IYK, IYC, IEZ, FXL, FXI, IHF, IGE, EWA, EWO, EWZ, EWC, EEM, EWQ, EWG, EIS, EWI, EWJ, EWM, EPP, EZA, EWY, EWP, EWD, EWT, IBB, PPA, PEJ, PXJ, ROBO, XLY, XRT, XAR, 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.

-- Thomas Bulkowski

Tuesday 8/17/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Campbell Soup (CPB)

$ $ $

Stefano C. emailed me about a mistake he found in my Encyclopedia of Chart Patterns, 3rd edition book. He found a chart which was incorrect. Clink this link for more details.

Thanks Stefano!

$ $ $

Here's a symbol list of 148 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AYI, ADTN, AFL, AKAM, ALRM, ALB, ADS, ALL, AEO, AFG, AMWD, ACGL, ARW, AIZ, ATO, AVY, BMI, BAX, BECN, BZH, BERY, BIO, BKNG, BG, COG, CALM, CENX, CIEN, CGNX, CLR, CREE, CTS, DHR, DDS, ^DJI, DRQ, DTE, BOOM, EBAY, WIRE, EOG, EQT, EVH, EXC, XOM, EZPW, FDS, FE, FISV, FLS, FMC, FWRD, GPS, GD, GS, HSC, HAYN, HSII, HSIC, HNI, HOLX, IEX, ITGR, IPI, NVTA, JCOM, JAZZ, KFRC, LOW, MRO, MDC, NBR, ^IXIC, CNR, NTAP, NKE, NOC, ORI, ASGN, PDCO, PTEN, PICO, PFG, PGR, PHM, ROK, RES, SIGI, SKX, SO, SCCO, SWN, SXI, SRDX, TECH, TDOC, TFX, TXT, TOL, TSCO, TRV, TZOO, SLCA, UGI, VLO, VEEV, WSM, IAI, ITB, IEZ, DDM, FXL, FXI, EWZ, ECH, EEM, TUR, IBB, DBA, PEJ, PXJ, ROBO, XLY, XLF, GLD, XHB, XLI, XAR, UNG, USO. 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 8/16/21. 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 S&P 500 index on the daily scale.

I drew two red trendlines, one along the peaks and one along the valleys, just to see how they line up.

As the chart shows, you have several touches or near touches of each trendline. The touches are well spaced, suggesting the lines are important as they outline the trend.

The index is straddling the upper middle of the channel, continuing to climb.

Notice back in May (A) the index rode along the top of the channel before racing to the other side.

Will the price action at B perform the same way? My guess is yes, it will. When? I've no idea but maybe September weakness is the answer. (I continue to write about weakness going into September, but haven't seen any sign of it yet).

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

Here's a symbol list of 139 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACN, ADTN, AFL, APD, AKAM, ALRM, ALB, DOX, AEO, ASH, AIZ, AVA, BLL, BECN, BBBY, BBY, BKH, BKNG, COG, CENX, CINF, CSCO, CNA, CGNX, CMCO, CMTL, CLR, COTY, CR, DDS, EBAY, WIRE, EOG, EVH, XOM, FB, FDS, FDX, FISV, FLEX, FLS, FORM, GPS, GD, GS, HSC, HE, HSIC, HNI, HOLX, HOV, IEX, ITGR, IBKR, IPG, JCOM, KELYA, KFRC, LAWS, LEG, LNC, MRO, MRTN, MLM, MAS, MTRX, MRK, MUR, NTAP, NEE, JWN, PKE, PAYX, PFG, PG, RCKY, RES, ^GSPC, CRM, SAIC, NOW, SLGN, SKX, SRDX, TEVA, TXT, WAT, ZBRA, IAI, IYK, IYC, IHI, IEO, IDU, FTEC, FDN, BOTZ, IYH, IHF, IYZ, IGE, EWA, EWO, EWK, EWZ, EWQ, EWG, EWI, EWY, EWP, EWD, EWL, EWT, EWU, PPA, DBA, PEJ, IEV, XLY, XLE, XLF, XLV, XRT, XLK. 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 8/13/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 118 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, APD, AEO, AMAT, ADM, ARW, AIZ, ATO, ADSK, AXS, BMI, BBBY, BKNG, BRC, BLDR, COG, CPB, CLS, CX, CENX, CIEN, CNA, CGNX, CMCO, COTY, CR, DECK, DDS, DTE, EFX, EXPD, FAST, FISV, FDP, FRD, GPS, GD, GNW, GS, GOOGL, GPRO, HBI, HTLD, HSIC, HNI, HOLX, IEX, IDXX, IIIN, ITGR, IPAR, IBKR, IPG, KELYA, KFRC, LLY, LNC, MHO, MRO, MRTN, MA, MTRN, MTRX, MU, MSFT, MLHR, NJR, NWL, NEE, JWN, OGE, ORI, PINC, KWR, ROG, ^GSPC, SCHW, SKX, SO, SR, SCS, SNPS, TEVA, TMO, TREX, V, VC, WDAY, IYC, IEZ, IHE, BOTZ, IGV, EWO, EWG, EWH, EIS, EWS, EWY, TUR, DBA, PEJ, SSO, XLF, XRT, SPY, 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 20 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 3.5%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 10 bullish chart patterns this week and 2 bearish ones with any remaining (8) 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 7/12/21. Cryptocurrency BTC-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 BTC-USD on the daily scale.

It's been almost 2 months since I looked at BTC. In this chart, we see the coin made a double bottom at AB, which confirmed as a valid chart pattern when it closed above the peak between the two bottoms. I show that as the horizontal red line. The coin climbed for about a week to D and then threw back to the breakout price at C.

Since then, the coin has climbed. How far might it go? One answer is to look at a chart pattern called a measured move up. The theory is that the CE move will be the same as BD. Eyeballing it, that would mean a rise to about 50,000. That's also a good round number where I expect a lot of selling to occur.

$ $ $

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: ACN, ALRM, ALK, AYX, AEO, AIG, ANTM, AIZ, BCPC, BBY, BIG, BKNG, CBT, CACI, CNC, CENX, CF, CRL, CLNE, CGNX, COTY, CR, CRH, CTS, CW, DDS, ^DJI, FISV, FORM, FWRD, GPS, GILD, GPRO, HAYN, HSIC, HSY, HNI, HOLX, HD, HOV, HURC, IDXX, INFN, ITGR, INTC, IPI, NVTA, K, KELYA, KFRC, LH, LDOS, LLY, LNC, MRO, MDC, MU, ^IXIC, NFG, NWL, NEU, NEE, NOC, OGE, OLN, PANW, PRFT, PHM, KWR, RJF, RHI, ^GSPC, SKX, TPX, TKR, TREX, VC, WMT, WSM, XEL, IYM, IYC, IHE, IDU, DDM, FXL, BOTZ, IYH, IHF, EWA, EWO, EWC, ECH, EIS, EWI, EPP, EWY, EWP, EWL, EWU, QLD, DBA, PBE, PEJ, QQQ, IEV, ILF, SSO, XLP, XLF, SPY, XAR, 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 8/11/21. A Look At Indicators: Still Bullish

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.

I looked back over the Wednesday posts for 3 weeks and see the same signal: bullish. Yes, this chart has bearish divergence where the indicator is making lower peaks even as the index continues to rise.

So there's a hint of a warning here, but we've also seen this happen before. I'm inclined to ignore the divergence, especially in an indicator that can change for up to a week. So the bearish divergence could disappear.

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).

The red and blue lines, as the above text says, show no performance change from a week ago. The red line looks like it climbed and it did, but it did it during the week.

If I had to guess, I'd say this chart is neutral with a tendency to the bullish side. The prior chart is also bullish, so I'm buying in this market.

$ $ $

Here's a symbol list of 142 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACIW, AYI, ADBE, AFL, ALKS, AYX, AEO, AEL, AMWD, ANIK, ANTM, AON, APOG, ACGL, AIZ, ATO, AVY, AVA, AXS, BSET, BBBY, BERY, BKNG, CBT, CNC, CENX, CHS, CIEN, CNO, CGNX, CLR, COTY, CRH, CCRN, CTS, CMI, DECK, DVN, DDS, FFIV, FISV, FIVN, FMC, FCX, GPS, GD, HBI, HAYN, HSIC, HNI, HOLX, IDXX, ITW, INFN, ITGR, IPAR, IPG, INTU, JNJ, KFRC, KBAL, KLAC, LHX, LZB, LRCX, LXU, MTSI, MAN, MRO, MDC, MRK, MU, MSFT, MOS, NUS, OLN, ASGN, OXM, PANW, PICO, PRU, QCOM, RJF, RHI, RCKY, RES, SHW, SLGN, SKX, SR, SSYS, SNPS, TDOC, TXN, TREX, VRSN, V, VC, WWW, WDAY, XEL, XLNX, ITA, DDM, FTEC, FDN, FXL, FXI, IYH, IHF, SOXX, IGE, ECH, EIS, EWY, EWP, EWT, QLD, PEJ, QQQ, IXC, SSO, XLF, XHB, SPY, XLK, UNG, 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 8/10/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Cabot oil and gas (COG).

$ $ $

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: DDD, ANF, ACN, ADBE, ADTN, AFG, AON, AWI, BERY, BA, BRC, CACI, CSCO, CMTL, CROX, CTS, DRQ, EBAY, XOM, FFIV, FLS, FORM, HLIT, HSC, HTLD, HOLX, HD, DHI, HUBG, IPAR, INTU, IVC, NVTA, JKHY, KLAC, LRCX, LLY, MHO, MRTN, MTRN, MDC, MDT, MSFT, MLI, NOV, NEE, NXGN, NWPX, NUS, OXY, OGE, ORI, PATK, PICO, PRU, PHM, RGS, REV, ROG, RES, CRM, SLB, SAIC, SMTC, SWX, SR, SNPS, TFX, TER, TXN, TG, TREX, UGI, VFC, V, WSM, WDAY, XEL, XLNX, IEZ, FTEC, FXI, SOXX, SLV, EEM, EWW, EPP, EWY, EWT, TUR, IBB, PXJ, IEV, GLD, XHB, XLK, 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

Tuesday 8/10/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Cabot oil and gas (COG).

$ $ $

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: DDD, ANF, ACN, ADBE, ADTN, AFG, AON, AWI, BERY, BA, BRC, CACI, CSCO, CMTL, CROX, CTS, DRQ, EBAY, XOM, FFIV, FLS, FORM, HLIT, HSC, HTLD, HOLX, HD, DHI, HUBG, IPAR, INTU, IVC, NVTA, JKHY, KLAC, LRCX, LLY, MHO, MRTN, MTRN, MDC, MDT, MSFT, MLI, NOV, NEE, NXGN, NWPX, NUS, OXY, OGE, ORI, PATK, PICO, PRU, PHM, RGS, REV, ROG, RES, CRM, SLB, SAIC, SMTC, SWX, SR, SNPS, TFX, TER, TXN, TG, TREX, UGI, VFC, V, WSM, WDAY, XEL, XLNX, IEZ, FTEC, FXI, SOXX, SLV, EEM, EWW, EPP, EWY, EWT, TUR, IBB, PXJ, IEV, GLD, XHB, XLK, 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 8/9/21. 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 Nasdaq Composite on the daily scale.

I don't see anything really exciting on this chart, so I drew three trendlines.

The first (A), connects the three major lows. It'll shows where I expect the index to turn upward, or at least pause, should it drop that far. And no, I don't expect it to see the Nasdaq to drop that far. Having written that, we see profound weakness as the index dropped to the first low in May, so with expected weakness to come in September and maybe October, we could see a large down swing which could send the composite down to line A.

Trendline B hugs price better, but there's only two trendline touches, so it's not an important trendline.

I expect trendline C to put up more resistance as the index reaches that high. You already see that happening to the right of C. The index touches or approaches the trendline several times before backing down.

Putting it all together, the trendlines provide a roadmap to future price movement. New trendlines might form which could override those shown here. And ones like trendline B could be trampled over anyway, so keep that in mind.

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 124 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AEIS, AJRD, ALRM, ALKS, AYX, AMED, ABC, ANTM, APOG, ACGL, ADM, AWI, AIZ, ATO, ADSK, ADP, AVA, BIG, BIIB, BG, CX, CRL, CINF, CL, CMTL, CSOD, CROX, CTS, CW, ^DJI, DUK, EBAY, FB, FDS, FEYE, FORM, FRD, GS, GGG, HLIT, HIG, HOLX, HD, DHI, HOV, INFN, TILE, IVC, NVTA, KSS, LH, LANC, LNC, RAMP, MHO, M, MAN, MRO, MCHX, MTRN, MDC, MRK, MS, MYGN, NFG, NEU, NEE, NXGN, JWN, OUT, PKE, PINC, PFG, PRU, PHM, RL, RGS, RGA, SAIA, SCHW, SIGI, SMTC, SR, SXI, SSYS, TPX, TDC, TJX, V, WSM, IAI, IYK, IYC, IHE, IDU, DDM, FXI, IAT, IYF, EWH, EIS, EWI, EWW, EPP, THD, TUR, PXJ, PHO, XLY, XLF, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski

Friday 8/6/21. Pattern Trading Setups for the Weekend.

$ $ $

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: DDD, AYI, ADTN, ALL, DOX, AMED, AIG, ABC, APOG, AIZ, BLL, BERY, BKH, BKNG, BRKS, CX, CNC, CENX, CRL, CL, CMTL, CCRN, CTS, DHR, XRAY, ^DJT, ^DJI, DUK, EBAY, WIRE, EPAM, EZPW, FB, FDS, FOE, FLEX, FLS, FMC, FORM, FRD, GIS, GPRO, GGG, HBI, HOLX, HD, HUBG, NSP, IVC, JBLU, KELYA, KLIC, LH, LRCX, LAMR, LANC, LLY, LMT, MRO, MCHX, MRTN, MTRN, MRK, MLHR, MYGN, NCR, NEE, NUS, NVDA, OMC, POR, DGX, SMG, SEIC, SRE, SMTC, SCCO, SCS, SSYS, SRDX, TER, VC, WMT, WDAY, IYC, IDU, IAT, SLV, EWA, EWK, EWH, EWP, THD, PEJ, USO. 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 25 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 4.4%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

I found 1 pipe bottom chart patterns, which is neutral. High numbers of pipe bottoms can signal a bullish move (I see many of them just before a bear market ends or during a bear market rally. Often it means the first bottom of a double bottom has formed. Thus, expect a move down to the second bottom).

Excluding ETFs, there were 15 bullish chart patterns this week and 3 bearish ones with any remaining (8) 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 8/5/21. 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.

What caught my eye first was the red trendline. I thought it would connect the bottoms nicely, but it didn't. I had to warp it so it's a curving trendline (A).

At B, a small double bottom appears. This confirms when the index closes above the peak between the two bottoms. Price continues to rise far enough to exceed the measure rule target. The measure rule is the height of the pattern added to (or for downward breakouts...subtracted from) the breakout price.

At C we see a small double top. This one also confirms but barely declines to its measure rule target.

Now look at that big dip at B. It's well below the trendline A. If you measure the distance from the trendline down to B and add it to D, you'll get close to C. In other words, the big trendline drop can mirror a rise above the trendline (once it recovers). It's a way of helping you determine another price target. In this case, it works (or almost does).

$ $ $

Here's a symbol list of 99 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ALKS, DOX, AEO, AMGN, ADM, AVNT, BBBY, BKH, BRKS, BBW, BG, CALM, CHKP, CSCO, CGNX, CMTL, COTY, CROX, CSGS, CTS, XRAY, ^DJI, DRQ, EBAY, WIRE, XOM, FB, FDS, FIS, FMC, FORM, GIS, GL, GES, HSC, HQY, HL, HSY, HOLX, JBHT, INCY, ISRG, IVC, KBAL, KLAC, LANC, LDOS, LMT, MRO, MRTN, MLM, MTRN, MRK, MUR, NOV, NEE, PTEN, PETS, PNW, RJF, RGA, RCKY, SMG, SMTC, SKX, TER, TZOO, TG, UNM, IEZ, IHE, ICF, IYZ, SOXX, SLV, EWA, EWG, EWI, EWW, EWS, EWY, EWD, EWL, EWT, TUR, EWU, PBE, PXJ, XAR, 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 Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Wednesday 8/4/21. 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 indicator took a slight dip during this past week but it recovered. However the wave can change for up to a week, so the analysis might be flawed. It does suggests that the only direction left is to drop. And that would be bad for the market.

Of course, it's a market drop that's going to pull the indicator down, not the other way around. Regardless, a bullish signal remains intact on this chart.

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).

The more sensitive of the two lines, which is the red one, is still trying to recover from the large drop in mid July.

Both the red and blue lines report progress in turning more bullish than they were a week ago.

Together, the two charts are bullish. The CPI can go sideways but it's likely to see the market drop in the coming weeks. This chart shows there a lot of upward potential left. It sounds like a contradiction. Maybe it means we'll retrace in the short term (a week or two) but resume climbing going into September.

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Here's a symbol list of 109 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ATSG, ADS, DOX, AEO, AEL, ADM, BCPC, BKH, BBW, CALM, CLS, CX, CENX, CHKP, CVX, CLX, CMTL, CTS, XRAY, DDS, EBAY, XOM, FFIV, FB, FDS, FAST, FIS, FISV, FIVN, IT, GIS, GPN, GPRO, THG, HLIT, HQY, HP, HOLX, IIIN, IBKR, IPI, LANC, LEG, LNC, M, MRO, MTRN, MUR, MYGN, NFG, NEE, NI, NOC, OMI, PANW, PTEN, PNW, PEG, QCOM, DGX, RL, RMBS, RJF, RGS, RGA, RES, SAIA, SLB, SMG, SEE, SMTC, SHW, SKX, SWN, SRDX, TFX, TDC, RIG, TREX, UGI, UNM, VLO, WAT, WSO, WU, WMB, ITA, IYE, IEZ, IDU, IYZ, EWO, EWZ, EEM, EPP, PXJ, PHO, XLE, XAR. 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 8/3/21. Slider Trading Quiz! Blyth: BTH

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I show another slider trading quiz featuring Blyth: BTH.

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Here's a symbol list of 149 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ADBE, ADTN, APD, ATSG, AA, ALKS, ADS, AMZN, AEL, AFG, AIG, APOG, AWI, AIZ, AVNT, BCPC, BAH, EPAY, BRC, BG, CBT, COG, CDNS, CALM, CAL, CE, CLS, CVX, CLNE, CLF, CNA, CAG, CLR, GLW, CR, CROX, CCRN, CSGS, DHR, DDS, ^DJT, EBAY, EMR, EFX, RE, FB, FDS, FAST, FIS, FE, FISV, FMC, FORM, FWRD, FDP, FRD, GE, GPN, GS, GFF, GES, THG, HQY, HSY, HOLX, HD, HON, HOV, ITGR, IVC, KFRC, LOW, LXU, M, MAN, MRTN, MA, MTRN, MOS, MLI, MYGN, NTGR, NWL, NXGN, NKE, NVDA, ASGN, OUT, PKG, PYPL, PFE, PICO, PLXS, QCOM, DGX, RNG, ROST, ^GSPC, SMG, SLGN, TGT, TFX, TDC, TXT, TMO, TJX, TOL, TG, VLO, VMI, WERN, WU, IYM, IAI, IYC, IHE, DDM, FDN, IYZ, SOXX, EWO, EWK, EWZ, EWC, EWG, EIS, EWD, EWL, TUR, PHO, ROBO, SSO, XLP, XLI, XLB, SPY, SMH, VIS, VAW. 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.

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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

Monday 8/2/21. 2021 Forecast Update

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

My Prediction

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

Based on sector performance from Fidelity, the best performing sectors for one-year performance as of 29 July 2021 were... (The numbering is how they ranked a month ago.)

This month, someone shook up the list, but it's really not that bad. The prior list was year to date and this is for a full year. That means the prior month's ranking if muffed up.

The folks at two firms polled by Fidelity weigh the sectors in this order.

This month we see communication services and real estate moving up.

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 7/29. The numbering is how they ranked a month ago but that was based on year-to-date performance. This list is for full year performance.

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 76 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ATSG, AKAM, AA, ADS, AMZN, AEP, AXP, AIG, ANIK, APOG, AVNT, AVA, BIO, BKH, BAH, EPAY, BG, CDNS, CAL, CRL, CVX, CLX, CL, CLR, COST, CROX, CCRN, CSGS, DECK, XRAY, RE, XOM, FISV, GS, HOLX, HON, HOV, ITGR, IPAR, JCOM, KMT, KLAC, LH, LAWS, MA, MDT, MGEE, MLI, NVDA, OUT, PDCO, PYPL, PETS, PG, PEG, DGX, RL, RLI, SRE, TPR, TDC, TOL, VFC, IAI, EWK, EWZ, EWL, DBA, XLV. 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