Bulkowski's Blog: ThePatternSite.com
As of 08/05/2022
  Indus: 32,803 +76.65 +0.2%  
  Trans: 14,601 +122.31 +0.8%  
  Utils: 1,014 -7.66 -0.7%  
  Nasdaq: 12,658 -63.03 -0.5%  
  S&P 500: 4,145 -6.75 -0.2%  
YTD
-9.7%  
-11.4%  
 +3.4%  
-19.1%  
-13.0%  
  Targets    Overview: 07/28/2022  
  Up arrow33,300 or 31,400 by 08/15/2022
  Up arrow15,200 or 13,400 by 08/15/2022
  Up arrow1,040 or 975 by 08/15/2022
  Up arrow12,900 or 11,300 by 08/15/2022
  Up arrow4,200 or 3,900 by 08/15/2022
CPI (updated daily): Arrows on 7/15/22
As of 08/05/2022
  Indus: 32,803 +76.65 +0.2%  
  Trans: 14,601 +122.31 +0.8%  
  Utils: 1,014 -7.66 -0.7%  
  Nasdaq: 12,658 -63.03 -0.5%  
  S&P 500: 4,145 -6.75 -0.2%  
YTD
-9.7%  
-11.4%  
 +3.4%  
-19.1%  
-13.0%  
  Targets    Overview: 07/28/2022  
  Up arrow33,300 or 31,400 by 08/15/2022
  Up arrow15,200 or 13,400 by 08/15/2022
  Up arrow1,040 or 975 by 08/15/2022
  Up arrow12,900 or 11,300 by 08/15/2022
  Up arrow4,200 or 3,900 by 08/15/2022
CPI (updated daily): Arrows on 7/15/22

 

August 2022 Headlines

Archives


Monday 8/8/22. Market Monday: The Week Ahead

My Prediction

Picture of the Dow utilities on the daily scale.

I show the Dow utilities on the daily chart.

Peaks CD and EF are twin peak chart patterns called double tops.

At AB, we see a double bottom. All of these patterns confirm as valid when price closes either above the top or below the bottom of the patterns. The move after all of them was superb.

We measure performance by the height of the pattern and you can see that the move after the patterns far exceeded their height.

The two diamond-shaped patterns are, well, diamond tops. After the top, expect the index to drop. In this case, the left diamond didn't see price drop far (just to B).

Will the second diamond behave the same? Neither diamond is well-shaped and you might be hard pressed to defend the right diamond pattern as a diamond. Having said that, the move up from B to the diamond has been a strong push. I'd expect a pause before a resumption of the uptrend. We're seeing that pause now in the shape of the diamond. After it breaks out (the breakout direction can be either up or down), then we'll know if another strong up-move will appear.

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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.

Monday: Down 46.73 points.
Tuesday: Down 402.23 points.
Wednesday: Up 416.33 points.
Thursday: Down 85.68 points.
Friday: Up 76.65 points.

For the Week...

The Dow industrials were down 41.66 points or 0.1%.
The Nasdaq composite was up 266.86 points or 2.2%.
The S&P 500 index was up 14.9 points or 0.4%.

Year to Date...

Dow Industrials
     11.2% down from the high of 36,952.65 on 01/05/2022.
     10.6% up from the low of 29,653.29 on 06/17/2022.
Nasdaq
     20.2% down from the high of 15,852.14 on 01/04/2022.
     19.8% up from the low of 10,565.14 on 06/16/2022.
S&P 500
     14.0% down from the high of 4,818.62 on 01/04/2022.
     14.0% up from the low of 3,636.87 on 06/17/2022.

Options Expiration

No options expire this week.

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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.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  32,378  32,591  32,703  32,916  33,028 
Weekly  32,136  32,470  32,721  33,055  33,306 
Monthly  29,145  30,974  31,973  33,802  34,801 
S&P500 (^GSPC): Daily  4,090  4,118  4,135  4,162  4,179 
Weekly  4,043  4,094  4,131  4,182  4,219 
Monthly  3,565  3,855  4,011  4,301  4,458 
Nasdaq (^IXIC): Daily  12,440  12,549  12,635  12,743  12,829 
Weekly  12,076  12,367  12,551  12,842  13,027 
Monthly  10,277  11,467  12,102  13,292  13,926 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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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 105 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, AMD, AES, AA, AYX, AIG, ARW, ADP, AVA, BMI, BALL, BSET, BBBY, BIG, BFH, CIEN, CLNE, CONN, CCK, CTS, DECK, DSGR, DOV, EMR, EOG, FICO, FISV, FIVN, GME, GNW, GS, GGG, HAYN, HQY, HNI, HON, HUBG, JBHT, HURC, IDXX, ITW, JKHY, JNJ, KFRC, KSS, LAMR, LANC, LNC, MRTN, MLM, MTRN, MLI, MUR, NFG, NWL, NOC, OMCL, OTEX, OMI, OXM, PAYX, PFE, KWR, DGX, RGA, RLI, ROST, SCHW, SAIC, SEE, SXI, SRDX, TEVA, TKR, VFC, VMC, WLK, WOLF, ITA, IHE, DDM, IAT, IYF, IHI, EWS, IBB, MXI, XLE, XLF, XLV, XLB, XRT, 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.

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

This WeekLast Week
1. Natural Gas (Diversified)1. Petroleum (Producing)
2. Petroleum (Producing)2. Natural Gas (Diversified)
3. Petroleum (Integrated)3. Petroleum (Integrated)
4. Electric Utility (Central)4. Oilfield Svcs/Equipment
5. Electric Utility (West)5. Natural Gas (Distributor)
6. Aerospace/Defense6. Precision Instrument
7. Food Processing7. Electric Utility (Central)
8. Electric Utility (East)8. Electric Utility (West)
9. Natural Gas (Distributor)9. Insurance (Diversified)
10. Oilfield Svcs/Equipment10. Aerospace/Defense
Best Performing AboveWorst Performing Below
50. Medical Supplies50. Chemical (Basic)
51. Shoe51. Investment Co. (Foreign)
52. Advertising52. Shoe
53. Investment Co. (Foreign)53. Retail (Special Lines)
54. Telecom. Equipment54. Diversified Co.
55. Apparel55. Computers and Peripherals
56. E-Commerce56. Homebuilding
57. Toiletries/Cosmetics57. Apparel
58. Homebuilding58. Toiletries/Cosmetics
59. Internet59. Internet
60. Computers and Peripherals60. E-Commerce

-- Thomas Bulkowski

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Friday 8/5/22. 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: DDD, AMD, APD, DOX, AMED, ACGL, ATO, BMI, BALL, BSET, BZH, BMRN, BKH, BFH, CALM, CHS, ED, CONN, CLR, CRH, CCRN, CCK, CTS, DHR, DVN, DOV, DTE, DUK, ELV, EMR, WIRE, EPAM, EFX, XOM, EZPW, FDS, FAST, FISV, FLS, FORM, FDP, FRD, GS, HAYN, HSY, HNI, HOLX, HON, HUBG, HURC, ITW, INFN, ITGR, IVC, JNJ, KBAL, LNC, MHO, MRO, MCHX, MLM, MTRN, MDT, MRK, MLI, NBR, NOV, NI, NOC, OTEX, OUT, OXM, PANW, PKE, PRFT, PCG, PPL, PRU, PEG, RLI, SLB, SO, SXI, SUM, SRDX, TDOC, TFX, TEVA, TXT, TKR, TSCO, RIG, SLCA, VFC, VLO, VMC, WERN, XEL, ITA, IEZ, IHE, IHF, IEO, EWO, EWZ, EEM, EWQ, EWG, EIS, EWI, EWS, EWD, THD, TUR, IBB, PBE, PXJ, IEV, GLD, 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.

$ $ $

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

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
AXDXFlag, high and tight      06/13/202208/04/2022Medical Services
AESHead-and-shoulders bottom      05/12/202207/15/2022Electric Utility (East)
AKAMDouble Bottom, Eve and Adam      06/14/202207/14/2022E-Commerce
APAPipe bottom      07/05/202207/11/2022Petroleum (Producing)
BALLDead-cat bounce      08/04/202208/04/2022Packaging and Container
BIOHead-and-shoulders bottom      05/12/202207/14/2022Medical Supplies
BMRNDouble Bottom, Eve and Adam      07/20/202208/01/2022Biotechnology
CBTThree Rising Valleys      06/17/202207/14/2022Chemical (Diversified)
EDHead-and-shoulders bottom      05/02/202207/21/2022Electric Utility (East)
CRThree Rising Valleys      06/17/202207/14/2022Diversified Co.
CWPipe bottom      06/13/202206/21/2022Machinery
^DJUDiamond top      08/01/202208/04/2022None
EIXPipe bottom      06/21/202206/21/2022Electric Utility (West)
FDXHead-and-shoulders bottom      07/01/202207/26/2022Air Transport
FIVNHead-and-shoulders bottom      05/25/202207/13/2022Computer Software and Svcs
FTNTTriple top      07/12/202208/03/2022Computer Software and Svcs
GDDouble Bottom, Adam and Eve      06/17/202207/14/2022Aerospace/Defense
HURCPipe top      07/18/202207/25/2022Machinery
INFNDead-cat bounce      08/03/202208/03/2022Telecom. Equipment
JAZZDouble Top, Adam and Adam      07/07/202207/28/2022Biotechnology
KFRCPipe bottom      06/13/202206/21/2022Human Resources
LLYHead-and-shoulders top      07/08/202207/28/2022Drug
MTSIHead-and-shoulders bottom      06/16/202207/13/2022Semiconductor
MGEEDouble Bottom, Eve and Adam      06/16/202207/21/2022Electric Utility (Central)
MLKNPipe bottom      06/27/202207/05/2022Furn/Home Furnishings
NCRUgly double bottom      07/14/202207/26/2022IT Services
NJRPipe bottom      06/13/202206/21/2022Natural Gas (Distributor)
OUTDouble Bottom, Eve and Eve      06/16/202207/14/2022Advertising
OXMDouble Bottom, Adam and Adam      06/16/202207/14/2022Apparel
PPGPipe bottom      06/13/202206/21/2022Chemical (Diversified)
PPLUgly double bottom      06/17/202207/05/2022Electric Utility (East)
PRUDouble Bottom, Adam and Adam      06/17/202207/14/2022Insurance (Life)
RMBSDiamond bottom      06/17/202207/13/2022Semiconductor Cap Equip.
RCKYDead-cat bounce      08/03/202208/03/2022Shoe
SNPSThree Rising Valleys      05/12/202207/14/2022Computer Software and Svcs
TPRTriangle, symmetrical      07/22/202208/04/2022Apparel
TERDiamond bottom      06/16/202207/13/2022Semiconductor Cap Equip.
UPSThree Rising Valleys      05/19/202207/14/2022Air Transport
WWWTriangle, symmetrical      03/29/202207/21/2022Shoe
WDAYDouble Bottom, Eve and Adam      06/23/202207/13/2022Computer Software and Svcs
XELUgly double bottom      06/17/202207/21/2022Electric Utility (West)

 

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Thursday 8/4/22. Cryptocurrency Update: Bitcoin BTC-USD

The Nasdaq climbed by 2.6% or 319.4 points. Since 02/05/1971 the Nasdaq made 30 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.9% on 18 occasions.
     Average loss was -1.5% on 12 occasions.
Expect the Nasdaq to close higher 60.0% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 243/428 or 56.8% of the time.
     The prediction of the Nasdaq closing lower has been right 64/135 or 47.4% of the time.

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

Picture of the bitcoin.

$ $ $

I show a picture of the Nasdaq composite on the 5-minute scale.

Bottoms A and B highlight what I call an ugly double bottom. That's when the second bottom (B) is significantly above the first bottom (A). It confirms as a valid bottom reversal at C. That's when the coin closes above the top of the double bottom. The coin has struggle to move higher since C but it remains above the red confirmation line.

I drew two green lines showing the trend of the coin. Notice that it curves upward. That slope suggests strength, that the value of the coin will continue higher.

$ $ $

Here's a symbol list of 121 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYX, AEP, AXP, ABC, AMGN, ANIK, AIZ, BMI, BALL, BAX, BFH, BG, CHS, CSCO, CGNX, CL, CMCO, CLR, CRH, CROX, CSGS, CTS, DSGR, D, DOV, DUK, EBAY, EMR, WIRE, EOG, EVH, FAST, FIS, FISV, FIVN, FDP, FRD, GL, HAYN, HQY, HP, HSIC, HNI, HON, HOV, HURC, ITW, ILMN, INFN, IIIN, NVTA, JAZZ, KMT, KFRC, LDOS, MTRN, MGEE, MUR, NBR, NOV, NTGR, JWN, OXY, OLN, OTEX, PANW, PYPL, PPL, PRU, RNG, RLI, RCKY, CRM, SLB, SEE, SO, SR, SXI, SRDX, TFX, TKR, RIG, TG, UNM, VFC, VLO, VEEV, V, WAT, WMB, XEL, IEZ, IHF, IGE, IEO, EWO, ECH, EWQ, EIS, EWS, EZA, EWP, IBB, DBA, PBE, PXJ, PJP, UNG. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  10,405.23    
 Weekly S2  11,316.37  911.15   
 Monthly S1  11,536.69  220.32   
 Monthly Pivot  11,981.48  444.78   
 Weekly S1  11,992.27  10.79   Yes! The Weekly S1 is close to the Monthly Pivot.
 Weekly Pivot  12,209.26  217.00   
 Daily S2  12,323.24  113.98   
 Low  12,425.21  101.97   
 Open  12,433.87  8.66   Yes! The Open is close to the Low.
 Daily S1  12,495.70  61.83   
 61.8% Down from Intraday High  12,530.04  34.34   
 50% Down from Intraday High  12,562.42  32.38   
 38.2% Down from Intraday High  12,594.81  32.38   
 Daily Pivot  12,597.67  2.86   Yes! The Daily Pivot is close to the 38.2% Down from Intraday High.
 Close  12,668.16  70.49   
 High  12,699.64  31.48   
 Daily R1  12,770.13  70.49   
 Daily R2  12,872.10  101.97   
 Weekly R1  12,885.16  13.06   Yes! The Weekly R1 is close to the Daily R2.
 Weekly R2  13,102.15  217.00   
 Monthly R1  13,112.94  10.79   Yes! The Monthly R1 is close to the Weekly R2.
 Monthly R2  13,557.73  444.78   

Wednesday 8/3/22. A Look At Indicators

Picture of the chart pattern indicator

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 mentioned in the first pic of the updated forecast that the index looked as if it might retrace (according to the CPI line). We see that today.

The indicator turned bearish as demonstrated by the vertical red line on the far right of the chart. I don't expect this to be a reversal, just a retrace of a few days to a week or so duration. But, it's a bearish signal.

Picture of the percent down indicators

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).

Shown as a red line on the above chart...
On Tuesday, 59% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 64%.
The fewest was 19% on 08/11/2021.
And the most was 79% on 06/17/2022.
Shown as a blue line on the above chart...
The 453 stocks in my database are down an average of 26% from their yearly high.
A week ago, the average was 28%.
The peak was 12% on 08/11/2021.
And the bottom was 33% on 06/16/2022.

Both lines show improvement from a week ago. But if the above CPI chart is correct, then look for market weakness.

As I mentioned, I expect the market to retrace here, but it could zoom higher on good news or slump on bad news. Which will happen?

$ $ $

Here's a symbol list of 114 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AYI, AFL, ATSG, ALB, ALKS, ALL, AMWD, ABC, ANIK, AIZ, AZTA, BKNG, BRC, BFH, CACI, CPB, CE, CLS, CNP, CENX, CHKP, CHD, CSCO, CLNE, CNA, CNO, CMCO, CTS, DSGR, DOV, DTE, DUK, EMR, WIRE, EQT, EZPW, FDP, IT, EVRG, THG, HAYN, HP, HNI, HON, HURC, IDA, ITW, INCY, INFN, NSP, IIIN, IPAR, ISRG, IVC, JBLU, K, KMT, LDOS, L, M, MNDT, MRO, MTRN, MTRX, MOS, MYGN, NFG, NJR, NWL, NUS, OXY, ASGN, OXM, PANW, PETS, PFE, POR, KWR, ROST, SAIC, SO, SR, SXI, SRDX, TFX, TKR, RIG, TG, VFC, WU, WLK, WMB, XEL, EWK, ECH, EWH, GLD, 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.

-- Thomas Bulkowski

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Tuesday 8/2/22. 2022 Forecast Update

The Dow dropped by -0.1% or -46.73 points. Since 10/01/1928 the Dow made 1367 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 714 occasions.
     Average loss was -0.7% on 653 occasions.
Expect the Dow to close higher 52.2% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 249/445 or 56.0% of the time.
     The prediction of the Dow closing lower has been right 47/98 or 48.0% of the time.

$ $ $

Here's the updated 2022 forecast, presented in slider format.

Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 1 August 2022 were... (The numbering is how they ranked a month ago.)

1. Energy (+42%)
2. Utilities (3%)
3. Consumer staples (-4%)
4. Health care (-6%)
5. Industrials (-10%)
6. Materials (-14%)
7. Financials (-14%)
8. Real estate (-15%)
9. Information technology (-17%)
11. Consumer discretionary (-20%)
10. Communication services (-28%)

The folks at two firms polled by Fidelity weigh the sectors in this order, as of 8/1/22.

1. Information technology (IT)
2. Health care
3. Consumer discretionary
4. Financials
5. Communication services
6. Industrials
7. Consumer staples
8. Energy
9. Utilities
10. Real estate
11. Materials

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.

2. Oil, gas and consumable fuels (+62%)
1. Construction and engineering (+55%)
3. Energy equipment and services (+27%)
New. Automobiles (+27%)
4. Health care providers and services (+22%)
6. Multi-utilities (+15%)
10. Food products (13%)
7. Beverages (+12%)
New. Technology hardware, and storage (11%)
New. Electric utilities (11%)

$ $ $

Here's a symbol list of 98 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, APD, ALKS, DOX, AMWD, ANIK, BBBY, BIO, BMRN, BA, BAH, BRC, BLDR, CALM, CHKP, CTXS, CNA, CL, CSGS, CTS, DDS, ^DJT, DOV, DUK, EMR, WIRE, EVH, EZPW, FIS, FMC, FDP, GILD, THG, HAYN, HNI, HON, ITW, NSP, IBP, IVC, KBAL, KMB, LANC, LDOS, LEN, LLY, LMT, MTSI, MTRN, MTRX, MDT, NCR, NTGR, NTAP, NEE, NUS, ASGN, OMI, OXM, PFE, POR, KWR, RGS, ROST, SMTC, SHW, SKX, SWX, SXI, SSYS, SUM, TPR, TGT, TECH, TEVA, TMO, TKR, VFC, WAT, WWW, XEL, ITA, IYK, SLV, EWJ, EWL, TUR, XLP, XLU. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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Monday 8/1/22. Market Monday: The Week Ahead

My Prediction

Picture of the S and P 500 on the daily scale.

I show the S&P 500 index on the daily scale.

The index soared through a down-sloping trendline, shows here as a red straight line.

At AB, the index formed an ugly double bottom. It confirmed at C when the index closed above the peak between the two lows.

How high will the index climb? My guess is to the level of the circled area at D. The index has made a strong push higher and at D there's a knot of resistance. That combination suggests the index will hit that resistance and drop.

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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.

Monday: Up 90.75 points.
Tuesday: Down 228.5 points.
Wednesday: Up 436.05 points.
Thursday: Up 332.04 points.
Friday: Up 315.5 points.

For the Week...

The Dow industrials were up 945.84 points or 3.0%.
The Nasdaq composite was up 556.58 points or 4.7%.
The S&P 500 index was up 168.66 points or 4.3%.

Year to Date...

Dow Industrials
     11.1% down from the high of 36,952.65 on 01/05/2022.
     10.8% up from the low of 29,653.29 on 06/17/2022.
Nasdaq
     21.8% down from the high of 15,852.14 on 01/04/2022.
     17.3% up from the low of 10,565.14 on 06/16/2022.
S&P 500
     14.3% down from the high of 4,818.62 on 01/04/2022.
     13.6% up from the low of 3,636.87 on 06/17/2022.

Options Expiration

No options expire this week.

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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.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  32,332  32,589  32,749  33,006  33,167 
Weekly  31,282  32,064  32,487  33,268  33,692 
Monthly  29,200  31,023  31,966  33,789  34,733 
S&P500 (^GSPC): Daily  4,056  4,093  4,117  4,154  4,177 
Weekly  3,831  3,981  4,060  4,210  4,290 
Monthly  3,579  3,855  3,997  4,273  4,416 
Nasdaq (^IXIC): Daily  12,088  12,239  12,333  12,484  12,578 
Weekly  11,224  11,807  12,117  12,700  13,010 
Monthly  10,313  11,352  11,889  12,928  13,465 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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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 134 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACN, APD, AMZN, DOX, AEL, AMN, AON, AAPL, ARW, ADP, BMI, BCPC, BSET, BAX, BECN, BERY, BIO, BMRN, BAH, BBW, BLDR, CALM, CNC, CVX, CHS, CINF, CTXS, CNO, CGNX, CMTL, COP, CCRN, CSGS, CTS, DOV, DTE, DUK, EMN, EBAY, EIX, EMR, WIRE, EVH, XOM, EZPW, FICO, FIVN, GNW, GILD, HLIT, HIG, HAYN, HSY, HON, ITW, TILE, IPG, IVC, JAZZ, KLIC, LLY, MTSI, MRTN, MLM, MTRN, MTRX, MUR, NBR, ^IXIC, NOV, OGE, ORI, ASGN, PTEN, PRFT, PLXS, POR, PRU, KWR, DGX, RMBS, RNG, RLI, ^GSPC, SAIC, SEIC, SO, SXI, SUM, TECH, TMO, TKR, RIG, TRV, SLCA, UPS, VFC, VRTX, VMC, WAT, XEL, IYM, IYC, IYE, FXI, IGE, IYF, EWO, ECH, EWQ, EWG, EWI, EWD, TUR, PJP, IEV, IXC, MXI, XLY, XLE, XLF, XLB, VAW, 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 below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Petroleum (Producing)1. Petroleum (Producing)
2. Natural Gas (Diversified)2. Natural Gas (Diversified)
3. Petroleum (Integrated)3. Petroleum (Integrated)
4. Oilfield Svcs/Equipment4. Natural Gas (Distributor)
5. Natural Gas (Distributor)5. Short ETFs
6. Precision Instrument6. Electric Utility (Central)
7. Electric Utility (Central)7. Insurance (Diversified)
8. Electric Utility (West)8. Oilfield Svcs/Equipment
9. Insurance (Diversified)9. Electric Utility (West)
10. Aerospace/Defense10. Food Processing
Best Performing AboveWorst Performing Below
50. Chemical (Basic)50. Investment Co. (Foreign)
51. Investment Co. (Foreign)51. Cement and Aggregates
52. Shoe52. Semiconductor
53. Retail (Special Lines)53. Homebuilding
54. Diversified Co.54. Semiconductor Cap Equip.
55. Computers and Peripherals55. Toiletries/Cosmetics
56. Homebuilding56. Diversified Co.
57. Apparel57. Computers and Peripherals
58. Toiletries/Cosmetics58. E-Commerce
59. Internet59. Retail (Special Lines)
60. E-Commerce60. Internet

-- Thomas Bulkowski

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