As of 12/24/2024   Indus: 43,297 +390.08 +0.9%     Trans: 16,063 +127.24 +0.8%     Utils: 993 +4.93 +0.5%     Nasdaq: 20,031 +266.24 +1.3%     S&P 500: 6,040 +65.97 +1.1%	YTD  +14.9%    +1.0%    +12.7%    +33.4%    +26.6%	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 12/5/24

As of 12/24/2024   Indus: 43,297 +390.08 +0.9%     Trans: 16,063 +127.24 +0.8%     Utils: 993 +4.93 +0.5%     Nasdaq: 20,031 +266.24 +1.3%     S&P 500: 6,040 +65.97 +1.1%	YTD  +14.9%    +1.0%    +12.7%    +33.4%    +26.6%
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 12/5/24

Tuesday 8/23/22. Slider Trading Quiz! Southwest Water (SWWC)

$ $ $

I show another slider trading quiz featuring Southwest Water: SWWC stock.

$ $ $

Here's a symbol list of 248 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, AXDX, ACIW, ADBE, AMD, APD, ALRM, ALK, AYX, AMZN, AMED, AEP, AEL, AMWD, AAPL, ACGL, ARW, ATO, ADSK, AVNT, AZTA, BMI, BCPC, BZH, BBBY, BERY, BA, BRC, CBT, CDNS, CX, CENX, CLF, CNA, CGNX, CTSH, ED, GLW, CRH, CCK, CMI, XRAY, DDS, DFS, DSGR, ^DJT, ^DJI, DRQ, EXP, EMN, WIRE, EVH, FAST, FDX, FIS, FLS, FORM, FTNT, IT, GE, GPN, GS, GOOGL, GPRO, GFF, HBI, THG, HE, HQY, HSII, HELE, HNI, HD, DHI, IDXX, ITW, ILMN, IPG, IPI, INTU, ISRG, JBLU, KBH, KBAL, KLAC, KSS, KLIC, LZB, LRCX, LAMR, LEN, LNC, L, LXU, MTSI, M, MANH, MAN, MCHX, MTRX, MDC, MDT, META, MU, MSFT, MCO, MS, MUR, MYGN, ^IXIC, NFG, NCR, NWL, NKE, NWPX, OXY, OTEX, PYPL, PRFT, PCG, PPG, PHM, KWR, RL, RJF, RNG, RCKY, RES, ^GSPC, SAIA, CRM, SLB, SCHW, SEE, SMTC, NOW, SLGN, SKX, LUV, SCS, SSYS, SRDX, SNPS, TPR, TGT, TECH, TFX, TPX, TDC, TER, TXT, TMO, TKR, TOL, TSCO, TG, TREX, SLCA, VFC, VEEV, V, WMT, WSO, WERN, WOLF, WWW, WDAY, ITA, IYM, IAI, IYC, ITB, DDM, FTEC, FDN, QTEC, BOTZ, QQQ, ICF, IYH, IAT, IYZ, IGV, IYF, IHI, EWA, EWO, EWK, EWC, EEM, EWQ, EWG, EIS, EWI, EWJ, EWM, EPP, EWS, EZA, EWY, EWP, EWD, EWL, EWT, THD, TUR, EWU, QLD, PPA, PBE, PEJ, PHO, ROBO, IEV, IXN, SSO, MXI, XLY, XLF, GLD, XHB, XLI, XRT, SPY, XAR, UNG, VHT, 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 8/22/22. 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 a chart of the Dow industrials on the daily scale.

Let's take it alphabetically, starting with point A.

The ABC pattern could be a head-and-shoulders bottom. A is the left shoulder, B is the head, and C is the right shoulder. Shoulder A is higher than C, making the head-and-shoulders look like it has a medical problem.

If ABC represents a head-and-shoulders then a close above the neckline (the thin, red diagonal line) signals a buy. In this case, it represents a good entry price. That happens at D.

If you believe BC represents a double bottom or even an ugly double bottom, then the buy signal is higher, at E (the blue line).

Finally, horizontal line FG shows overhead resistance. Valley F seems to halt the rise at G, forcing price down.

This is the start of the retrace that I've been expecting. The index could drop to about half the CG rise, perhaps stalling at the knot of support just above E, at about 32,600.

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: AXDX, AMD, AJRD, ALRM, ALK, AYX, AEP, ATR, ACGL, AWI, ASH, AXS, BMI, BCPC, BBBY, BMRN, BAH, BFH, CTXS, CLF, CNA, CGNX, CL, ED, COTY, CCK, DDS, DSGR, DRQ, DUK, EFX, FLS, GME, GE, GPRO, THG, HSY, HNI, NSP, IBP, IBKR, TILE, INTU, NVTA, JKHY, KBAL, KSS, LANC, LDOS, LEN, LNC, MANH, MCHX, MTRX, MDC, MDT, MYGN, NJR, NEU, NUS, OXY, ORI, OMI, PCG, PINC, RGS, RNG, RHI, RCKY, CRM, SLB, SLGN, SCS, TPR, TDOC, TFX, TZOO, TREX, UGI, VFC, VMC, WLK, WOLF, WDAY, QTEC, FXL, FXI, BOTZ, IGV, SLV, EWA, EWO, EWK, ECH, EEM, EWQ, EWG, EWI, EPP, EWS, EZA, EWY, EWP, EWD, THD, TUR, EWU, ROBO, IEV, ILF, XLY, XLB, UNG, MGK. Clink this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

Friday 8/19/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 128 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ANF, AXDX, ADTN, AMD, ALL, AEO, AEP, AFG, AMN, ARCB, ASH, BMI, BCPC, BBBY, BMRN, BAH, CF, CHS, CIEN, CSCO, CLF, CNA, CL, CMCO, ED, CAG, CCRN, CCK, DDS, DSGR, DRQ, DUK, EMR, WIRE, EOG, EFX, EVH, XOM, FFIV, FISV, FLS, FORM, GD, GIS, GPN, GOOGL, THG, HLIT, HNI, NSP, ITGR, INTC, IPAR, NVTA, KBAL, KMB, LZB, LH, LNC, MANH, MRO, MCHX, MTRX, MUR, NBR, NJR, NEU, NOC, OXY, OGE, ORI, OUT, OMI, PDCO, PCG, PLXS, RL, RNG, RCKY, ^GSPC, SLB, SAIC, SRE, SHW, SCS, TDOC, RIG, TREX, UGI, V, WRB, WSM, WOLF, IEZ, IHE, FXI, BOTZ, QQQ, ICF, IHF, IYZ, SLV, IGE, IEO, EWO, EWK, EWH, EZA, EWY, TUR, QLD, PBE, PXJ, PJP, IXC, 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.

$ $ $

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

Thursday 8/18/22. Ethereum Review

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

$ $ $

When I look at the chart of Ethereum on the daily scale, at home, this is what I see.

The flag thing (mid June) is a chart pattern called a high and tight flag. It means the security doubled within two months. Years ago, it performed well but when the markets figured that out, performance deteriorated substantially. That was for stocks, not cryptocurrency. Maybe it has some use in the crypto universe.

Next are the two Bs. That's really a symbol for an ugly double bottom. That chart pattern has a second bottom well above the first one. The coin took its time but it responded by moving higher in mid July (V).

The last pattern is actually three Vs. That's a three rising valleys chart pattern where each valley is higher than the prior one and the three valleys look similar (my computer doesn't pay much attention to their shape).

All three patterns point to the currency moving higher and it has.

That's the good news. The bad news is there's overhead resistance lurking near where the coin is now. It wouldn't surprise me to see the coin retrace here. If fact, I expect it to drop soon (days to a few weeks).

$ $ $

Here's a symbol list of 82 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ADTN, AMD, BMI, BCPC, BSET, BBBY, BMRN, BAH, BMY, CNA, CGNX, COP, CCK, DDS, DSGR, DRQ, DTE, DUK, BOOM, FLEX, FORM, FCX, THG, HLIT, HTLD, HSII, HSIC, HNI, KBAL, KLIC, LHX, LLY, LNC, MCHX, NJR, NOC, NWPX, OXY, OMI, PATK, PDCO, PETS, PCG, PPL, PINC, RGS, RNG, RCKY, SAIA, SLB, SAIC, SMTC, SCS, TECH, TXN, TREX, VRSN, WAT, WSO, IYE, IHF, SLV, IEO, EWK, ECH, EWS, EWY, EWD, TUR, IXC, XLE, 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

Wednesday 8/17/22. 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 remains bullish but that may not be obvious from the chart. It shows the last signal as a white bar, which is neutral and yet the thin blue line says the signal is bullish. I'll have to look into the problem and see what I can find out. [I fixed the problem Wednesday morning. It now shows a vertical green bar as a bullish signal.]

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

Both the red and blue lines have improved substantially this week compared to a week ago. It now looks like the long-term downtrend (from November) has ended. That's really hard to say because this might only be an upward retrace in a downward price trend.

If you look at the price trend, clearly the index has been rising. That rise makes be believe we're well past the bottom of this (bull or bear) market.

The prior chart is bullish and so is this one. It suggests there's more room to climb but after climbing in a straight-line run higher for so long, I expect a retrace. I don't know when it will happen, but believe it will.

$ $ $

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: ANF, AXDX, AMD, AJRD, ALL, DOX, AEP, AEL, AMGN, AXS, BMI, BCPC, BBBY, BBY, BMRN, BAH, BRC, BFH, BBW, CAL, CNP, CENX, CF, CRL, CLX, CNA, CGNX, CTSH, CL, GLW, COTY, CR, CCRN, CCK, CW, DDS, DSGR, DRQ, DTE, DUK, BOOM, EMR, EQT, EVH, FICO, FLEX, FMC, FORM, FDP, GD, GES, HBI, THG, HSII, HELE, HSIC, HNI, HD, JBHT, HURC, INFN, IBP, KBAL, KSS, LNC, MTSI, M, MCHX, MAS, MGEE, NBR, NOV, NWL, JWN, NWPX, OXY, OMI, PCG, PINC, RL, RHI, RCKY, SLB, SMG, SLGN, SWN, SXI, SCS, TGT, TECH, RIG, VFC, V, WMT, ITA, IHF, EWK, ECH, EWS, EWT, EWU, PPA, PXJ, MXI, XLP, UNG. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 8/16/22. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Southwestern Energy: SWN stock.

$ $ $

Here's a symbol list of 82 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AMD, ATSG, ALKS, DOX, AEP, ABC, ARW, ATO, BMI, BBBY, BBY, BIG, BAH, BRC, BFH, BBW, CACI, CAL, CHS, CLX, CTSH, CMTL, CAG, CCRN, CCK, DDS, DSGR, DTE, EXPD, FICO, FLEX, GILD, HAYN, HSII, HELE, HSY, HOV, HUBG, IPG, NVTA, KFRC, KMB, LDOS, MTSI, MCHX, MA, META, MGEE, NWL, JWN, OGE, PCG, PPL, PG, PGR, RGS, SAIA, SMG, SLGN, LUV, SWX, SXI, SCS, TPR, UGI, V, WAT, XEL, EWJ, XLP, UNG, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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 8/15/22. Market Monday: The Week Ahead

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

My Prediction

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

EA is a chart pattern called an Eve & Adam double bottom. It confirms as a valid chart pattern when the index closed above the peak between the two bottoms. I show that with the horizontal red line.

After I found the double bottom, I looked at the mirrors. Those are the blue lines.

Imagine a vertical line that acts as a mirror from left of the line to the right. I don't show this line, but the mirror is clear. The lowest blue line shows a peak in June that mirrors the peak in August.

The highest blue line joins the peak on the right with those on the left.

The green line, taking into account of overhead resistance setup by the peaks earlier in the year (shown by the top blue line), represents a ceiling that the index is going to have trouble penetrating. I expect the index to follow the green line lower.

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 77 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AMD, DOX, AEP, AFG, ACGL, ARW, ATO, AVNT, BMI, BBBY, BERY, BIG, BBW, CACI, CAL, CPB, CF, CHS, CTSH, CAG, CCRN, DRQ, DTE, BOOM, EIX, WIRE, RE, FLEX, FWRD, GD, HBI, HSII, IDXX, NVTA, JBLU, KALU, KELYA, KFRC, LDOS, LEN, MCHX, META, MGEE, NFG, NWL, NEU, JWN, OGE, OTEX, PFE, ROK, RCKY, SAIA, SMTC, SCCO, SWX, SXI, UGI, UNM, WAT, XEL, EEM, EWQ, EWH, EWW, EPP, EWL, EWT, EWU, IEV, MXI. 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 8/12/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 196 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, ACN, AMD, AFL, AKAM, ALB, ALL, AYX, AEL, AIG, AMN, APH, ANIK, AON, APOG, ACGL, ARW, AIZ, ATO, AVNT, AVA, AXS, BMI, BERY, BIG, BIIB, BKH, BA, BKNG, BBW, CACI, CAL, CLS, CVX, CHS, CHD, CINF, CLNE, CLF, CLX, CNO, COP, GLW, CROX, CCRN, DECK, DVN, DDS, DTE, EMN, WIRE, EOG, EPAM, EQT, RE, FICO, FDX, FE, FIVN, FLEX, FLS, FDP, IT, GE, GIS, GS, HIG, HP, HSY, IDXX, ITGR, IBKR, NVTA, JKHY, JBLU, KELYA, KMT, KFRC, KMB, LDOS, RAMP, L, LXU, M, MA, MTRN, META, MGEE, MSFT, MCO, MS, MUR, ^IXIC, NOV, NWL, NEE, JWN, OXY, OGE, ORI, OXM, PTEN, PFE, PFG, PG, PGR, PRU, KWR, RJF, RGA, RNG, ROG, RES, SAIA, CRM, SCHW, SMTC, NOW, LUV, SWN, SXI, TPR, TPX, TER, TEVA, TKR, TRV, SLCA, UGI, UNM, VFC, VRSN, WRB, WAT, WERN, XEL, ZBRA, IAI, IYE, IEZ, FDN, QQQ, ICF, IHF, IAT, IGV, IGE, IEO, IYF, EWO, EWC, EEM, EWM, EZA, EWT, THD, TUR, QLD, IBB, PPA, PBE, PXJ, IXC, IXN, ILF, XLE, XLF, XLI, XRT, 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.

$ $ $

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

Thursday 8/11/22. Intraday Market Direction: Nasdaq

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

$ $ $

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

I drew the red trendline connecting the valleys and let it go through price. It didn't fit well in the middle of the chart so I added the blue line. It doesn't start at the chart's low but it does connect more points than the red line. The blue line has a better fit and is more reliable.

The blue line shows that the index is resting on that line, finding support there (to the right of A).

The measure rule for trendlines, if you flip it upside down, says that the plunge below the trendline will cause an overshoot above it. That is, the height of AB added to the trendline will give you a target.

I don't know if this will work because it's the move above the trendline (Monday's peak) that should get reflected below it (which appears to have worked in this case), and not the inverse.

With price moving along the line, maybe we can say that it doesn't work.

Let's give it a few days to see if the uptrend continues.

$ $ $

Here's a symbol list of 261 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACN, AYI, ADBE, AMD, AFL, APD, ALRM, ALB, AA, ALL, AYX, AMZN, AEL, AXP, AIG, APH, ANIK, AON, APOG, AAPL, AMAT, ATR, ARCB, ACGL, ARW, ATO, AVNT, AVA, AXS, BMI, BCPC, BECN, BZH, BERY, BIG, BIO, BA, BKNG, BFH, CACI, CDNS, CAL, CENX, CRL, CHS, CSCO, CLF, CNO, CGNX, CMTL, CONN, GLW, CRH, CCK, CTS, CMI, DECK, ^DJT, ^DJI, DTE, EMN, EBAY, EMR, WIRE, EPAM, EFX, EL, RE, EXPD, FDS, FICO, FAST, FE, FISV, FLEX, FMC, FORM, IT, GD, GNW, GPN, GL, GS, GOOGL, GPRO, GGG, THG, HIG, HP, HSY, HON, DHI, IEX, ITW, ILMN, INTC, IPAR, IBKR, INTU, IVC, NVTA, JBLU, KALU, KELYA, KMT, KFRC, KBAL, KLAC, LRCX, LAMR, LANC, LEG, LDOS, LEN, L, MTSI, MANH, MAN, MLM, MAS, MTRX, MDC, META, MGEE, MSFT, MLKN, MCO, MS, NFLX, NKE, JWN, OLN, OMCL, OMC, ASGN, OTEX, OUT, OXM, PANW, PTEN, PYPL, PETS, PLXS, PRU, PEG, QCOM, RL, RJF, RLI, RHI, ROG, ROST, ^GSPC, CRM, SEIC, SIGI, SMTC, NOW, SHW, SLGN, SKX, SXI, SUM, TECH, TER, TXT, TKR, TOL, RIG, TRV, TREX, UGI, UPS, UNM, VFC, VMI, VRSN, VMC, WRB, WAT, WERN, WLK, WMB, WDAY, XEL, ZBRA, ITA, IYM, IAI, IYC, IHE, DDM, FDN, QTEC, FXL, FXI, BOTZ, ICF, IAT, IYZ, SOXX, IYF, EWA, EWO, EWK, EWZ, EWC, ECH, EWQ, EWG, EIS, EWI, EWW, EPP, EZA, EWP, EWD, EWL, EWT, THD, TUR, EWU, PPA, DBA, PEJ, PHO, ROBO, IEV, ILF, SSO, MXI, XLY, XLF, XHB, XLI, XLB, SPY, XAR, USO, 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.

$ $ $

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 8/10/22. 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 is neutral as shown by the vertical white bars on the chart. Notice at the bottom of the chart that the thin blue indicator line is heading lower.

In fact, the prior peak is above the current one, suggesting a weakening situation. Having said that, any big up move or any big down move can change the signals for up to a week.

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 today (Tuesday night) have improved from what they signaled a week ago. That's good news.

Indeed, the recovery from the June low is substantial. You can see that in the red line by it hitting a low in June and rebounding.

Looking at the charts, I think the markets have put in a bottom, that they will move higher in the coming months. This assessment agrees with the 2022 forecast that I update each month. That forecast said the markets would hit the yearly low in late July and rebound from there. Maybe we're seeing that now. It's going to be bumpy with earnings season starting but I think the worst is behind us.

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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: AMD, AYX, AMZN, DOX, AEP, AEL, AMWD, AMGN, ARW, ATO, BMI, BSET, BBBY, BIG, BIO, BOOT, BAH, CACI, CAL, CX, CHKP, CHS, CL, CMCO, COP, COTY, CCRN, XRAY, DVN, DOV, DTE, WIRE, RE, XOM, FDX, FE, FLEX, FMC, FORM, FDP, GPS, HIG, HAYN, HP, HOLX, HON, HUBG, ITGR, IPAR, TILE, IVC, NVTA, KMT, KFRC, KLAC, LZB, LRCX, LDOS, LLY, RAMP, LOW, M, MLM, MAS, MTRN, MDC, META, MU, MLKN, NWL, JWN, NUS, PTEN, PETS, PFG, PG, RL, ROK, LUV, SXI, SCS, SRDX, TPX, TXN, TKR, TSCO, UGI, VEEV, WAT, WSO, WERN, WMB, ZBRA, IYZ, SOXX, IEO, ECH, EIS, EWJ, EWM, EZA, EWY, EWP, THD, DBA, PHO, GLD, XLV, 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 8/9/22. Slider Trading Quiz!

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I show another slider trading quiz featuring Southern Union: SUG stock.

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Here's a symbol list of 155 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AXDX, AYI, AEIS, AMD, ATSG, ALL, AMZN, AEO, AON, APOG, AWI, ARW, AVY, BMI, BSET, BAX, BBBY, BIG, BKNG, BFH, BBW, CACI, CAL, CX, CLNE, ED, CONN, COP, COTY, CROX, CCRN, CCK, XRAY, DVN, ^DJT, DUK, EMN, EFX, EXPD, FAST, FDX, FLEX, FCX, FDP, GME, GPS, IT, GIS, GGG, GES, HSC, HAYN, HSIC, HNI, HD, HON, HUBG, JBHT, HURC, INFN, TILE, JBLU, JNJ, KMT, KFRC, KMB, LH, LANC, LDOS, LEN, LMT, L, LOW, LXU, MHO, M, MANH, MLM, MA, MTRN, MDT, MU, MLKN, NWL, NEE, NOC, OUT, PKG, PKE, PFE, PCG, DGX, RL, RLI, ROK, ROST, SAIC, SCCO, SWX, SXI, SCS, SRDX, TPR, TFX, TDC, TEVA, TMO, TKR, TJX, TRV, TG, VFC, VEEV, VRTX, WAT, WSO, WLK, WSM, IYM, ICF, SLV, EWK, EWZ, EIS, EPP, EZA, EWP, THD, TUR, IBB, PHO, ILF, MXI, GLD, XHB, XLB, XRT, UNG, 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 8/8/22. 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 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.

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 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.

-- Thomas Bulkowski

Friday 8/5/22. Pattern Trading Setups for the Weekend.

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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.

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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

Thursday 8/4/22. Cryptocurrency Update: Bitcoin 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.

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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.

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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.

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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 Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Wednesday 8/3/22. 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.

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.

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 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?

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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

Tuesday 8/2/22. 2022 Forecast Update

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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.)

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

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.

$ $ $

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

Monday 8/1/22. 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 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.

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 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.

-- Thomas Bulkowski