As of 04/22/2024   Indus: 38,240 +253.58 +0.7%     Trans: 15,224 +140.68 +0.9%     Utils: 883 +7.72 +0.9%     Nasdaq: 15,451 +169.30 +1.1%     S&P 500: 5,011 +43.37 +0.9%	YTD  +1.5%   -4.2%    +0.2%    +2.9%    +5.0%	Targets    Overview: 04/12/2024     39,800 or 37,150 by 05/01/2024   16,200 or 15,000 by 05/01/2024   885 or 850 by 05/01/2024   16,700 or 15,800 by 05/01/2024   5,250 or 5,025 by 05/01/2024
Chart Pattern Indicator: on 4/1/24

As of 04/22/2024   Indus: 38,240 +253.58 +0.7%     Trans: 15,224 +140.68 +0.9%     Utils: 883 +7.72 +0.9%     Nasdaq: 15,451 +169.30 +1.1%     S&P 500: 5,011 +43.37 +0.9%	YTD  +1.5%   -4.2%    +0.2%    +2.9%    +5.0%
Targets    Overview: 04/12/2024     39,800 or 37,150 by 05/01/2024   16,200 or 15,000 by 05/01/2024   885 or 850 by 05/01/2024   16,700 or 15,800 by 05/01/2024   5,250 or 5,025 by 05/01/2024
Chart Pattern Indicator: on 4/1/24

Wednesday 6/30/21. Indicators: Bearish Divergence

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.

Notice the thin line near the bottom of the chart. That's the CPI and it registers 68, a hair above the neutral zone of 65. The CPI is still bullish but showing weakness.

Last week, we had a bearish signal which turned bullish between then and now (Translation: the green vertical bar appeared on the far right of there chart).

The CPI shows weakness even though the index is rising. That's bearish divergence and it's a warning of trouble for bulls.

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 red line shows no change from a week ago, but the blue line shows weakness. I prefer the red line. Both colored lines show weakness in the last two or three days even though the index has inched higher. Again, that's bearish divergence and it's not a good sign.

Both charts are warning of market weakness. Failure of an index to rise (struggle to rise) means it's probably going to tumble. So tell Scotty in the engine room to get the shields ready.

$ $ $

Here's a symbol list of 180 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AYI, ADTN, AEIS, ALRM, ALK, ALB, AA, ALL, AMED, ANIK, ANTM, AON, AMAT, ARCB, ACGL, ADM, ADP, BCPC, BBBY, BBY, BA, BKNG, EPAY, BBW, CBT, COG, CAL, CPB, CX, CENX, CHKP, CIEN, CL, CONN, GLW, COTY, CREE, CCRN, CMI, CW, DVN, D, EBAY, EMR, EFX, EQT, EL, RE, FICO, FIS, FE, FISV, FLEX, FMC, FCX, FDP, GME, GE, GS, HSC, HQY, HSII, HP, HD, HON, INOV, IIIN, ITGR, IPAR, JAZZ, KMT, KFRC, KSS, LHX, LH, LRCX, LLY, LNC, M, MAN, MRO, MTRX, MDCA, MU, MLHR, CNR, NEU, JWN, OMI, PKG, PKE, PDCO, PRFT, PETS, PFG, PG, PRU, RL, REV, RNG, RES, SEIC, SIGI, SMTC, NOW, SCCO, SWN, SR, SCS, SSYS, SUM, TDC, TXT, TSCO, RIG, TG, SLCA, UNM, VMI, VRTX, VMC, WDAY, XEL, ITA, IAI, IYC, DDM, IYH, IAT, SLV, EWO, EWK, EWQ, EIS, EWI, EWW, EWS, EWY, EWP, EWD, EWU, PPA, PBE, IEV, IXC, XLP, XLF, GLD, XHB, 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 6/29/21. Slider Trading Quiz! Alaska Air (3)

$ $ $

I show another slider trading quiz featuring Alaska Air: ALK 3 stock.

$ $ $

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: AYI, AKAM, ALK, ALKS, AEP, AMGN, ANIK, APOG, AGO, ADP, BCPC, BZH, BIIB, BKNG, EPAY, BBW, CBT, COG, CAL, CF, CRL, CIEN, CTXS, CLF, CMTL, COTY, CW, DHR, DECK, XRAY, ^DJT, DRQ, BOOM, EBAY, EMR, EOG, EQT, RE, EXPD, XOM, FIS, FISV, FLEX, FMC, FTNT, FWRD, FRD, GPS, GNW, GPN, GPRO, GES, HSC, HSII, HP, HON, ILMN, INFN, IBKR, IVC, KALU, KELYA, KFRC, KLAC, KSS, LHX, LZB, LAMR, LEG, LEN, LNC, L, MTSI, M, MAN, MRO, MA, MTRN, MDC, MDCA, MGEE, NBR, ^IXIC, NOV, NTGR, NI, OTEX, OMI, OXM, PKE, PETS, PCG, PRU, DGX, RGA, REV, RES, NOW, SWN, RIG, TZOO, TG, VMI, V, VC, WERN, WU, WLK, WSM, WDAY, IAI, IYK, IYC, IYE, IEO, FTEC, FDN, QTEC, FXL, IYH, IAT, IGV, IGE, ECH, EEM, EWQ, EWM, EWT, THD, EWU, PPA, IXN, ILF, XLP, XAR, XLK, 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 6/28/21. 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.

Not much is going on, especially recently. Let's break it down.

Outlined in red is a chart pattern called an ascending broadening wedge. Price breaks out downward 52% of the time from that type of pattern. In this instance, though, the breakout is upward.

Price climbed, leading to pattern A.

However pattern A isn't a broadening top (or any other type of broadening pattern).

Why?

Because there is too much whitespace between the two trendlines. If price had crossed the pattern where the letter A is located, then you'd have a nice looking broadening top. Without that cross, then it looks like price broke out downward from a rising channel (imagine drawing another blue line parallel to the top one).

Besides those two patterns, price is rising and it looks to continue rising in the weeks to come. Unless it doesn't, of course.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 137 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AYI, AA, AEL, AMWD, APH, APOG, AMAT, ADM, BECN, BZH, BIIB, BKNG, BAH, BRKS, BBW, CBT, CAL, CX, CNC, CHS, CLF, CMTL, CLR, COTY, CRH, DECK, DFS, DRQ, BOOM, WIRE, EPAM, EL, EZPW, FORM, FDP, FRD, GPS, GD, GNW, GES, HSC, HAYN, HQY, HP, HSY, INFN, NSP, IPAR, IVC, JKHY, JAZZ, JBLU, KALU, KBH, LZB, LEN, LMT, M, MRO, MLM, MTRN, MTRX, MDC, MU, NFLX, NTGR, NTAP, NKE, OUT, OMI, OXM, PKE, PRFT, PNW, PPL, RMBS, RES, SAIA, CRM, SIGI, NOW, SKX, SO, SR, STMP, SCS, SRDX, TECH, RIG, TZOO, TREX, VC, WAT, WWW, IYK, IHE, DDM, FTEC, FXI, IYH, EWZ, ECH, EEM, EWH, EIS, EWJ, EWS, EWY, QLD, PPA, QQQ, PHO, ROBO, IXN, ILF, SSO, MXI, XLV, XRT, XAR, UNG. Clink this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

Friday 6/25/21. Pattern Trading Setups for the Weekend.

I released a new chart pattern called Multi-peak.

$ $ $

Here's a symbol list of 145 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACN, ADS, AMED, AMN, ANIK, AMAT, ATO, AVNT, BZH, BIIB, BBW, CPB, CX, CHS, CHD, CLF, CMTL, CLR, COST, COTY, CREE, CCRN, CW, ^DJU, ^DJI, D, EOG, EQT, EL, RE, EZPW, FISV, FIVN, FRD, GIS, GS, HOLX, HURC, INFN, NSP, JKHY, JAZZ, JNJ, KBH, KLIC, LB, LHX, LAMR, LEN, LLY, RAMP, M, MRO, MAS, MDC, MDCA, MDT, MU, MUR, ^IXIC, NTGR, NTAP, NEU, OMI, OXM, PKE, PTEN, PYPL, POR, PEG, PHM, QCOM, RGS, RCKY, ^GSPC, SAIA, SEE, SIGI, SRE, SMTC, NOW, SHW, SO, SCS, SSYS, SUM, SNPS, TGT, TECH, TFX, TER, TKR, RIG, VFC, VEEV, VMC, WAT, WU, WWW, XEL, IYK, IEO, FTEC, FDN, QTEC, FXL, IYH, IHF, IYZ, SOXX, EWO, EWQ, EWG, EIS, EWI, EWM, EWY, EWP, EWL, EWT, THD, QLD, PBE, PJP, QQQ, IEV, IXN, SSO, SPY, XLK, XLU, 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.

$ $ $

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 14 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 2.4%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 9 bullish chart patterns this week and 1 bearish ones with any remaining (4) being undecided. The ratio of bullish to bearish patterns suggests the market is bullish.

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 6/24/21. 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.

This is a busy chart, so let's go through it starting from the left.

LS is the left shoulder and RS is the right shoulder of a head-and-shoulders top chart pattern. It confirms as a valid pattern when the index drops below the blue line (neckline). The index dropped to E, fulfilling the measure rule (target) for the pattern.

At CD, a double top appears. It confirms as a valid chart pattern on the way down to F when the index closes below the blue line. This one wasn't as successful as the prior pattern because the drop missed the measure rule target (the height of the pattern subtracted from the breakout price) by about 50 points.

AB is another potential double top. It hasn't confirmed yet because the index hasn't dropped far enough. It seems to be rising following a channel (red parallel lines). Let's see if it'll bounce off the lower red line or drop through it and confirm the double top (it has to close below the price of the lowest valley between the two peaks).

$ $ $

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: ACIW, AMZN, AMED, AEO, AMN, ANIK, AWI, AVY, AXS, BSET, BERY, BMRN, BOOT, BBW, COG, CALM, CHD, CLF, CMTL, ED, CLR, COST, COTY, CCRN, CCK, CSGS, DECK, DVN, ^DJU, ^DJT, D, DRQ, EMR, EOG, EPAM, EFX, EVH, FICO, FOE, FE, FMC, FCX, IT, GIS, GES, HSC, HSIC, HSY, DHI, JBHT, IDA, INFN, NSP, JKHY, JAZZ, K, LEN, MRO, MRTN, MAS, MDC, MDCA, MDT, MLI, NOV, CNR, NTGR, NTAP, NWPX, OXY, OMCL, OMI, OXM, PKG, PKE, PDCO, PFE, POR, PINC, PEG, PHM, RGA, RCKY, SAIC, SEE, SEIC, SRE, NOW, SHW, SKX, SO, SCCO, TOL, RIG, UGI, WU, XEL, ITA, IEO, IEZ, IHE, DDM, FXL, IYZ, EWY, EWL, PBE, PXJ, PHO, IEV, XHB, XLI, XLU, 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 6/23/21. Indicators: Neutral

This is a picture of the chart pattern indicator on the daily scale. The indicator is the line chart below a chart of the S&P 500 composite.

The CPI turned bearish as the chart shows with the vertical red line on the far right. The index dropped, helping to lower the indicator (because signals can change for up to a week).

Since then, the indicator has rebounded (and so has the market). Look at the thin blue line near the bottom of the chart. It's moved into the neutral zone. It looks to be on its way to turning bullish.

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

Both red and blue lines took a steep drop from a week ago. You can see that on the chart. They look like check marks.

Such a steep decline suggests the drop hit the broader market hard. If you look back at the prior chart, you can see the index is at about where it was near its peak a week ago. On this chart, though, the red and blue lines remain far below their respective highs.

I think the CPI chart is bullish (or getting there) but this chart is mixed. Maybe my optimism about the CPI chart is overblown and it's wishful thinking. I think the markets will move higher but we won't know if that's the case until it actually rises.

$ $ $

Here's a symbol list of 55 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ADTN, AMZN, BSET, BIG, BIIB, BKNG, BBW, CHS, CLNE, CLF, CMTL, CAG, CSOD, COST, CRH, CTS, DTE, FDS, GME, DHI, JKHY, JAZZ, LEN, MRO, MCHX, MDCA, NTGR, NTAP, NWPX, OMCL, OMI, OXM, PKE, PYPL, PRFT, PCG, RCKY, ROG, NOW, SKX, SWX, STMP, SSYS, WLK, XEL, QTEC, EWS, XLE, 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.

-- Thomas Bulkowski

Tuesday 6/22/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Alaska Air: ALK 4 stock.

$ $ $

Here's a symbol list of 108 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AES, APD, ALRM, ALL, DOX, AEL, APH, AAPL, AVA, BBBY, BIIB, CENX, CHS, CINF, CLNE, CNA, CNO, CW, DVN, ^DJT, ^DJI, EIX, EQT, RE, EZPW, FICO, FEYE, FIVN, GL, GS, GES, HNI, HOV, IDXX, ITGR, IBKR, IPG, JKHY, KELYA, KFRC, KMB, LAMR, LANC, LAWS, LDOS, LXU, MAN, MRO, MTRX, MDCA, NBR, NFG, NWPX, OXY, OMCL, OMC, PKE, PTEN, PFE, PG, PEG, REV, RLI, ROST, ^GSPC, SMG, SRE, TJX, TRV, TREX, UGI, UNM, VLO, VMI, WSO, WDAY, XEL, ITA, IYK, IYE, IEO, IEZ, QTEC, IHF, IAT, IGE, IYF, EWK, EWH, EWS, EWU, PPA, PJP, QQQ, IXC, IXN, SSO, XLE, XLV, SPY, XAR, 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 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 6/21/21. Market Monday: The Week Ahead

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

My Prediction

For grins, I thought I'd download bitcoin (vs USD) and see what the chart looks like. The chart is on the daily scale.

A large head-and-shoulders top appears at LS (left shoulder, Head, RS (right shoulder). When the currency closes below the horizontal red line, it signals a sale.

That would have been a good move, given the scale of the currency and what happened.

The currency dropped to the May low (the first B). Since then, it's moved horizontally and formed an unconfirmed triple bottom. It'll become a real pattern when the currency closes above the highest peak between the three bottoms. I show that (confirmation) at blue line A. As you can see, the currency is falling and not rising up to the blue line.

As of today, it looks as if BTC-USD has more work to do before rising again.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 219 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ADBE, AFL, ATSG, AA, ALL, AEL, AXP, AIG, ANIK, ANTM, APOG, ATR, ACGL, ADM, ARW, AIZ, AGO, ATO, AVNT, AXS, BSET, BECN, BBBY, BERY, BKH, BKNG, BRC, CBT, COG, CLS, CIEN, CINF, CSCO, CLNE, CNA, CNO, CTSH, CMCO, CMTL, ED, CAG, COTY, CRH, CTS, CW, XRAY, DVN, DFS, ^DJI, DOV, DTE, EBAY, EMR, EQT, RE, EZPW, FICO, FAST, FEYE, FIVN, FLEX, FDP, IT, GD, GE, GIS, GL, GS, GGG, GES, THG, HIG, HL, HNI, HUBG, JBHT, IDA, IBP, ITGR, IPAR, NVTA, K, KELYA, KFRC, LB, LHX, LAWS, LEG, LNC, L, MAN, MRO, MAS, MGEE, MS, MLI, NFG, NOV, NCR, NFLX, NTGR, NJR, NWPX, NUS, ORI, OMC, ASGN, PKG, PKE, PTEN, PCG, PNW, PPL, PFG, PG, PGR, PRU, PEG, RJF, RGA, ROST, RES, SEIC, SRE, SLGN, SO, SCS, TECH, TXT, TOL, TSCO, TRV, TG, TREX, UGI, UNM, VEEV, WMT, WU, WSM, WWW, XEL, IYM, IAI, IYK, IYC, DDM, IHF, IAT, IYZ, IGV, SLV, IYF, EWO, EWK, EWQ, EWG, EWI, EWJ, EWW, EPP, EWS, EZA, EWP, EWD, EWL, THD, TUR, PPA, DBA, PHO, IEV, SSO, MXI, XLF, GLD, XLI, XLB, SPY. 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 6/18/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 184 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, ACN, AFL, AA, AEL, AIG, AAPL, ATR, AGO, ATO, AVY, AVNT, BSET, BZH, BBBY, BERY, BBW, CACI, CDNS, CAL, CLS, CF, CRL, CHD, CINF, CNO, CMCO, ED, COTY, CRH, CTS, CW, DHR, DVN, ^DJT, ^DJI, DOV, EMR, WIRE, EPAM, EXPD, FEYE, FE, FIVN, FTNT, FDP, IT, GD, GE, GS, GOOGL, GGG, GES, HIG, HE, HL, HELE, HNI, IDA, ITW, ILMN, NSP, ITGR, ISRG, K, KELYA, KFRC, KSS, LB, LHX, LZB, LAMR, LAWS, LEG, LNC, LOW, MHO, M, MRO, MDC, MGEE, MSFT, MCO, MS, MLI, NOV, NCR, NJR, OMCL, OMC, PANW, PKE, PDCO, PTEN, PYPL, PPL, PFG, PGR, PRU, PEG, RJF, ROK, ROST, RES, SAIC, SEE, SEIC, SRE, SLGN, SWX, SRDX, SNPS, TECH, TFX, TSCO, TG, UNM, VFC, VRSN, WRB, WMT, WU, WDAY, XEL, IYM, IAI, ITB, IHI, DDM, FTEC, QTEC, FXI, ICF, IYH, IAT, SLV, IGE, IYF, EWG, EWI, EWJ, EWW, EWS, EWP, EWD, THD, EWU, DBA, PXJ, PHO, IEV, IXN, MXI, XLF, GLD, XLV, XHB, XLI, XLB, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

There were 29 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 5.1%. 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 9 bearish ones with any remaining (6) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bullish (up) turn.

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

Thursday 6/17/21. Intraday Nasdaq: FED Speed Bump

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.

At point A, the Federal Reserve came out and said don't worry. Be happy. The market nose-dived and planted itself in the ground.

The last few days have broken an up-sloping trendline which I show in red. Often that means a new trend will start but at a more shallow angle. Or it could mean the start of a downtrend.

Indeed, you can connect the peaks on the way down, which I've done with the green line, and show a new downtrend forming. I think the reaction to the FED was a short-term glitch in the market and nothing to worry about. I expect the markets to recover.

$ $ $

Here's a symbol list of 156 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACN, AMD, AJRD, AES, AFL, AA, ALKS, AEO, AEP, ANTM, AON, ATR, ATO, AVY, BLL, BAX, BBBY, BERY, CACI, CF, CHD, CL, CONN, COST, CRH, CCK, DVN, ^DJU, ^DJT, ^DJI, DUK, EBAY, EXPD, FEYE, FE, FISV, FIVN, FMC, FORM, FRD, GPN, GS, GOOGL, GGG, GES, HE, HTLD, HELE, HSY, HOLX, DHI, JBHT, IEX, ITW, ITGR, INTC, INTU, NVTA, KLIC, LB, LHX, LAMR, LAWS, LEG, LEN, LLY, LOW, MHO, MRO, MAS, MA, MU, MCO, MLI, NCR, NJR, NEE, NI, JWN, NOC, NUS, OMCL, OMC, OTEX, OMI, PKE, PICO, PLXS, PPL, PINC, PG, PGR, PEG, RMBS, RGS, ^GSPC, SAIC, SEE, SRE, SLGN, SO, SWX, TFX, TOL, TG, SLCA, VFC, WMT, WSO, WU, XEL, IYC, ITB, IDU, DDM, FXL, FXI, IYH, IHF, IGE, IYF, EWO, EWH, EWJ, EWW, THD, TUR, EWU, DBA, PHO, ROBO, IEV, XHB, XLI, XLU, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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 6/16/21. 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 CPI chart is still bullish despite turning bearish yesterday, I think it was. You can see the dip in the thin blue line near the bottom of the chart. Today's movement added enough bullish NR7s to the mix to turn the signal bullish again and erase the bearish signal.

As always, a signal can change for up to a week but is usually stable after 3 days.

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

This week shows a contradiction in the stats. The red line is more bullish than it was a week ago but the blue line is more bearish. I trust the red line because it's more sensitive.

Let's pretend the red line is correct, that things are improving. The CPI chart is bullish and so is this one. So that's two votes for a continuation of the up move and none against.

The aye's have it.

$ $ $

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: ANF, AMD, AJRD, ALRM, AA, AMED, AMN, AON, ACGL, ADSK, AVY, BSET, BAX, BBBY, BERY, BIIB, BKH, BG, CNC, CF, CSCO, CAG, CONN, GLW, CCRN, CTS, DVN, EPAM, EXC, FAST, FDX, FEYE, FIVN, FCX, GPS, GIS, GNW, GS, GOOGL, GES, THG, HSII, HOLX, HOV, HURC, ITW, NSP, ITGR, INTC, INTU, IVC, NVTA, K, KELYA, KSS, LB, LHX, LAWS, LEG, LLY, LMT, LOW, M, MRO, MCHX, MDCA, MGEE, MLI, NOV, NFLX, NJR, NXGN, JWN, NWPX, OMCL, OTEX, PANW, PKE, PDCO, PPL, PFG, PGR, RGS, SMG, SRE, SCCO, SXI, TFX, TXT, TSCO, TG, SLCA, WERN, WU, WEX, WWW, ZBRA, DDM, FTEC, FXL, FXI, IYH, IGV, EWA, EWQ, EWH, EZA, EWP, EWL, TUR, ROBO, IEV, MXI, XLY, XLP, XAR, USO, VHT. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 6/15/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Apache: APA stock.

$ $ $

Here's a symbol list of 151 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ADBE, APD, ALRM, AA, AYX, AMZN, AEL, AMWD, ATR, AGO, AVY, AVNT, BECN, BIG, BIIB, BG, CLS, CNC, CENX, CRL, CHD, CNA, CAG, CONN, GLW, CROX, XRAY, DVN, DDS, ^DJT, ^DJI, DOV, BOOM, EBAY, EIX, WIRE, EQT, EXC, EXPD, EZPW, FICO, FDX, FMC, GD, GE, GL, GPRO, GES, HBI, HQY, DHI, HOV, ITW, INCY, IPAR, IPG, IPI, JBLU, KELYA, KSS, LZB, LAWS, LEG, LXU, MHO, M, MRO, MDC, MDCA, MOS, MLI, NCR, NJR, NEU, NXGN, NI, JWN, NWPX, OMCL, PKE, PDCO, PFG, PGR, KWR, QCOM, RNG, RCKY, CRM, SRE, SLGN, SCCO, SWX, SR, SXI, TFX, TDC, TRV, TG, SLCA, VMI, VRTX, WERN, WU, WEX, WMB, WWW, ITA, ITB, IHI, DDM, BOTZ, IAT, IGV, IYF, EWZ, EIS, EWI, EWM, EWP, EWT, TUR, MXI, XHB, XLI, XLB. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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 6/14/21. 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 Nasdaq composite on the daily scale.

I drew one line along the peaks and one along the valleys to highlight a potential ascending triangle.

The index has to form a minor low above A, at the red line, to score 5 touches of the two trendlines. That's the minimum I'm looking for. Right now, the pattern isn't a defined chart pattern. Rather, it's just squiggles on the screen.

If it does score another touch, then the chance of breaking out upward is 63% according to my new book, Encyclopedia of Chart Patterns, 3rd edition.

We might see that in about a week's 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

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 over.

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: ACIW, AEIS, APD, AKAM, ALRM, ALK, AEO, AMGN, ACGL, BCPC, BAX, BIIB, EPAY, COG, CAL, CHD, CL, COTY, CRH, XRAY, ^DJT, DRQ, EQT, FDS, FDX, FOE, FCX, GGG, HBI, HSII, HELE, HSY, HOV, HUBG, INCY, IVC, JAZZ, LB, LZB, LH, LAWS, LOW, MHO, MRO, MCHX, MTRX, MDCA, MDT, MGEE, NBR, NJR, NXGN, NWPX, OGE, OMCL, PANW, PKE, PDCO, PLXS, PGR, DGX, RJF, RCKY, ROST, SAIA, SIGI, SRE, NOW, SR, SXI, SRDX, TJX, TG, SLCA, WMT, WLK, WDAY, IAI, IYC, IDU, IAT, IGE, EWZ, EWC, EWS, IXC, IXN, ILF, UNG, SMH. Clink this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

Friday 6/11/21. Pattern Trading Setups for the Weekend.

$ $ $

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: AYI, AKAM, ALRM, ALK, AMED, ANIK, ANTM, ASH, ADP, AVNT, BCPC, BLL, BBY, BIO, BIIB, BOOT, CDNS, CAL, CE, CRL, CTXS, CGNX, CL, CMTL, CAG, COP, COTY, CRH, CROX, CCRN, DHR, DVN, ^DJT, DOV, DRQ, DTE, EXP, EQT, EXC, XOM, FFIV, FIVN, FTNT, GME, GNW, GS, GOOGL, GGG, HSC, HIG, HSY, HNI, HON, DHI, HOV, HUBG, JBHT, ILMN, IBP, TILE, JCOM, JBLU, KBH, LZB, LAWS, LEG, LEN, L, LOW, MHO, MTSI, MANH, MRO, MTRX, MDC, MDCA, MS, MLI, NOV, NTAP, NXGN, JWN, NUS, OGE, OUT, OXM, PANW, PKE, PDCO, PYPL, PETS, PNW, PLXS, PGR, KWR, RCKY, ROG, ROST, CRM, SRE, SCCO, LUV, SXI, SUM, TDOC, TPX, TER, TOL, SLCA, UGI, UPS, VEEV, VMC, WU, ITB, IEO, IEZ, QTEC, ICF, IAT, IGV, SLV, IGE, EWA, EWO, EWC, EWG, EWH, EWJ, EWS, EWY, EWP, EWL, EWU, PJP, IXN, MXI, XHB, XAR, UNG. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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 31 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 5.4%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

I found 2 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 19 bullish chart patterns this week and 3 bearish ones with any remaining (11) being undecided. The ratio of bullish to bearish patterns suggests the market is bullish.

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 6/10/21. 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.

At ABC, the composite formed a not-so-nice looking triple top. The pattern is supposed to have three peaks near the same price. Peaks A and B are not too bad but C is farther away.

Circled in blue is a pattern I'm studying now which I call a multi-peak. That's a four (or more) peak pattern. I thought it might hold the key to detecting trend changes, but it appears to be no more successful than many other chart patterns.

On the far right, in red, is an inverted and descending scallop. It suggests price is starting to move lower in a stair-step move.

From Tuesday, it looks like the composite is forming a top, so I'm leaning toward the index dropping lower in the coming days. However, the above probabilities suggest there's a slight bias toward an upward move on Thursday.

$ $ $

Here's a symbol list of 161 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYI, AJRD, AKAM, ALRM, ALK, ALKS, DOX, AMED, ANIK, AWI, ARW, BECN, BZH, BBY, BIIB, BMRN, EPAY, BRC, COG, CPB, CE, CLNE, CLF, CNA, CTSH, CMCO, CMTL, CSOD, GLW, COTY, CR, CW, DVN, ^DJT, DOV, DTE, EFX, EXC, FFIV, FAST, FOE, FMC, GNW, GS, GGG, GFF, HIG, HNI, HON, HOV, HUBG, INCY, IBP, IIIN, TILE, JCOM, JAZZ, JBLU, K, KMB, LB, LAWS, LEG, LEN, L, LOW, MHO, MTSI, MRO, MRTN, MAS, MA, MDC, MDCA, MU, MLI, MUR, NOV, NFLX, NJR, NWL, NXGN, NI, OXY, OUT, OMI, PANW, PKE, PATK, PDCO, PNW, PLXS, PPL, PFG, PG, KWR, QCOM, ROG, RES, SAIA, CRM, SRE, SCCO, LUV, STMP, SXI, SSYS, TPX, TREX, SLCA, UNM, VLO, ZBRA, IYK, IYC, IEO, IEZ, IHE, IHF, IGE, IYF, EWK, EIS, EWW, EZA, EWY, EWL, THD, PPA, PBE, PXJ, PHO, XLY, GLD, XLV, XHB, 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.

$ $ $

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 6/9/21. 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 CPI remains bullish this week. It's well beyond the point where a violent market move might change the signal. That can happen for up to a week (calendar).

The CPI signal near the bottom of the chart has pushed toward the top of the band (100). I think it's at 77 now, above the 65 threshold for bullish signals.

Let's look at the next chart to see what it says.

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 two lines have the same reading as a week ago. That's true of the red line, which is the more sensitive of the two. It suggests the market is searching for direction and coasting upward.

That lack of upward momentum is of concern. It's like a rocket that runs out of gas. It continues higher, coasting, rounds over and then topples. We'll have to wait and see if that's what happens to the markets.

$ $ $

Here's a symbol list of 138 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, AJRD, APD, ATSG, AKAM, ALRM, AEP, AMGN, APH, AON, ATO, BAX, BERY, BIIB, BRC, BMY, CACI, CNP, CVX, CHD, CNA, CAG, CSOD, XRAY, DDS, DTE, DUK, BOOM, EMR, EOG, EQT, FOE, FLEX, FLS, FMC, GIS, GNW, GS, GPRO, GGG, HLIT, HSC, HSY, HOV, ITW, KFRC, KMB, KLAC, KSS, LH, LAWS, LEG, L, MTSI, MAN, MRO, MDCA, MDT, MU, MLHR, MS, NBR, NFLX, NWL, NEU, NXGN, NUS, OMC, OUT, OXM, PANW, PKE, PDCO, PTEN, PFE, POR, PPG, PPL, PINC, PG, PGR, RGS, REV, RHI, RCKY, ROG, RES, CRM, SAIC, SRE, SMTC, SLGN, SO, SUM, SRDX, TFX, TXN, SLCA, VFC, VLO, WMT, WEX, IYK, IYE, IEO, IDU, DDM, FXI, IYZ, IGE, EWK, EZA, EWL, THD, IXC, IXN, XLP, XLE, XLF, XLV, XAR, XLU, 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.

-- Thomas Bulkowski

Tuesday 6/8/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Apogee Enterprises: APOG stock.

$ $ $

Here's a symbol list of 135 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ACIW, ADTN, APD, ATSG, AA, ALL, DOX, AEP, AEL, AMN, APH, AON, AGO, AVY, BCPC, BAX, BIG, BIIB, BKNG, EPAY, BLDR, CBT, CHD, CINF, CTXS, CLNE, CLF, CNA, CAG, CRH, CMI, CW, DOV, BOOM, EMN, EIX, EMR, EFX, FAST, FIS, FLEX, FLS, GME, GE, GIS, GS, HIG, HELE, HP, HSIC, HSY, IEX, ITW, INFN, IBKR, IVC, KALU, LHX, LH, LAWS, LLY, RAMP, MRO, MRTN, MAS, MA, MDCA, MCO, MS, MUR, MYGN, NBR, NOV, CNR, NEU, NWPX, OGE, OUT, OMI, PKE, PDCO, PTEN, PNW, PPG, PFG, PGR, PEG, PHM, RGS, RGA, REV, SAIC, SLGN, SXI, TFX, TEVA, TOL, VMI, VC, WMT, WAT, IAI, ITB, DDM, IAT, IGE, IYF, EWO, ECH, EWQ, EWG, EWI, EWW, EWS, EWL, TUR, PXJ, PJP, ROBO, IEV, IXC, XLP, XLF, 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.

$ $ $

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 6/7/21. 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 pic of the Dow industrials on the daily chart. What can we see?

All of the colored lines are variations of scallops. The red, blue, and orange lines are ascending and inverted scallops. The ends of those patterns are above the start and they have a nice arc between the two points. Usually I look for that arc on the tops of the patterns. In this case, I show it on the bottom.

The green pattern is an ascending scallop where the end is above the start, with a nice rounded turn in between. In this case, I drew the green line along price highs when I usually look for the curve along the lows.

The orange and green lines begin to frame a diamond top chart pattern, but it looked odd enough that I didn't have the courage to publicly call it a diamond.

So there you have it. None of the patterns tell what's going to happen. Sometimes with scallops (of any type), a series of them appearing in the same uptrend like you see here with the red, blue, and orange patterns, you see them getting either narrower/shorter or wider/taller as price climbs the trend. When that happens, look for a trend change especially if the last scallop in the series has nearly equally priced ends.

With these three, they have inconsistent sizes, so I don't attach any significance to their appearance.

I guess what I'm saying is look for the uptrend to continue.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 129 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AKAM, ALK, AA, DOX, AMED, AEO, AEL, ABC, APH, ANTM, AON, ADM, AXS, CALM, CPB, CLS, CNC, CNP, CHS, CLF, CLX, CSOD, GLW, CREE, DECK, ^DJT, BOOM, FDX, FIVN, FLEX, FLS, FORM, FTNT, FWRD, GPS, GE, GNW, GOOGL, HBI, HE, HP, HUBG, HURC, IEX, INFN, INOV, ITGR, INTU, JBLU, KALU, KELYA, KLAC, LHX, LH, LAWS, LMT, LOW, MRO, MLM, MTRN, MU, MS, MUR, NOV, NJR, NWPX, NUS, OXY, OMCL, OUT, OXM, PKE, PATK, PNW, PINC, DGX, RGS, SLB, SMG, SEE, SRE, SCCO, LUV, SR, TEVA, TXN, UGI, UPS, VMC, WERN, ZBRA, IAI, IDU, QTEC, FXL, FXI, BOTZ, IYH, IAT, IGV, IGE, EWK, EWZ, ECH, EWJ, EZA, PXJ, PJP, ILF, XLP, XLV, XAR, XLK, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski

Friday 6/4/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 103 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AA, ALKS, DOX, AMED, AEL, ADM, AIZ, AVY, AXS, BMI, BLL, BAX, BBBY, BMY, CLS, CX, CNP, CRL, CIEN, CLNE, CLF, CLX, CONN, CLGX, GLW, DFS, ^DJT, DOV, BOOM, EFX, EXPD, FIVN, FLEX, GPS, GOOGL, GGG, HBI, HON, HUBG, IIIN, IBKR, JCOM, KALU, KFRC, LZB, LAWS, MANH, MAN, MRO, MAS, MDT, MRK, MGEE, MS, MLI, NWPX, OXY, OUT, PKE, PATK, PETS, PNW, RCKY, SLB, SMG, SRE, SMTC, NOW, SLGN, SRDX, TPR, TXT, TKR, RIG, VC, WERN, WDAY, XEL, IYM, IAI, IDU, IHF, ECH, EWH, EWP, TUR, PXJ, PJP, XLP, XLF, XLV, XLB, 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 17 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 575 stocks searched, or 3.0%. 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 12 bullish chart patterns this week and 4 bearish ones with any remaining (2) 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 6/3/21. Intraday Market Direction: Nasdaq

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

$ $ $

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

I drew the bottom red line first because I noticed multiple points (valleys) resting on it. The line shows support. Along the top, I noticed that there was another trend, this one upward but shorter than the bottom one.

The two lines form a mouthful: broadening formation, right-angled and ascending chart pattern. A partial rise at point A suggests a downward breakout.

The index should have closed below the bottom red line at B but it didn't. Tests show a partial rise correct predicts a downward breakout 74% of the time from this type of broadening pattern.

Now, it looks as if the index is rising which also agrees with the above probabilities.

$ $ $

Here's a symbol list of 166 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AYI, AES, AFL, ATSG, AA, DOX, AEO, AEL, AIG, APOG, AMAT, ARCB, AWI, AGO, ADP, AVY, AVNT, BCPC, BSET, BECN, BBBY, BERY, BMRN, BKNG, BMY, CBT, CE, CX, CNP, CRL, CHKP, CHS, CLF, CMCO, CCK, CMI, CW, DHR, DECK, DDS, ^DJT, BOOM, EXP, EL, EXPD, FLEX, FLS, FMC, FDP, GME, GPN, GOOGL, GGG, GFF, HBI, HAYN, HELE, HP, HSIC, HON, HUBG, HURC, IDXX, ILMN, INOV, IBP, ITGR, IPAR, INTU, ISRG, JAZZ, KALU, KBH, KMT, KFRC, LAMR, LAWS, LEG, LEN, MTSI, MANH, MRO, MAS, MA, MDT, MLI, NBR, CNR, NTGR, NEU, NKE, NWPX, NVDA, OLN, ASGN, OUT, OXM, PKE, PATK, PTEN, PAYX, PETS, PICO, POR, QCOM, REV, RCKY, RES, SAIA, NOW, SLGN, SCCO, SCS, SRDX, TGT, TECH, TXT, TKR, TJX, SLCA, UPS, VEEV, WRB, WMT, WERN, WSM, IYM, IYE, ITB, IHI, BOTZ, ICF, IYZ, EWA, EWK, ECH, EWH, EWJ, PEJ, PJP, ILF, XLE, XLV, XLB, 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 6/2/21. 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 bullish signal, shown as the vertical green bar, is intact. It can change for up to a week, but it's usually stable after 3 days. The signal looks 4 trading days old, or probably like 6 calendar days old. So it's probably reliable.

The market has moved higher, but slowly, as if it's searching for a path. Coupled with overhead resistance from the recent high, I still don't trust it. I think the market is going lower.

That's just a feeling, so I could be wrong. But it seems that the market is struggling to move up.

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 showed improvement compared to a week ago. So that's bullish.

The prior chart and this one are bullish. The red line on this chart is the more sensitive of the two, and it's rising. That's a bullish sign. So I don't understand my concern about the market falling. Maybe that's how a market rises...on worry that it'll drop.

$ $ $

Have you removed the dust from your refrigerator cooling coils recently? I did that this weekend. I unplugged the fridge from the wall, removed the back panel and used my vacuum cleaner to suck up as much dust as possible. I also used a brush that was thin but long, about half inch wide and six inches long. The brush fit perfectly between several folds in the coils. Another tour with the vacuum cleaner and I was ready for the power tools. I went to the garage and grabbed my leaf blower. I blasted the until with 200 mph winds. The dust bunnies ran cover and a cloud of dust rose in my kitchen. But the coils were clean.

$ $ $

Went on a group bicycle ride with the mayor et al from the neighboring town. Near the end of the ride, I noticed that my rear tire was thump-thump-thumping. When we stopped, I looked at the tire and it was ready to burst. I couldn't believe it. I only put on 4,000 miles in 2 years (changed last in Feb 2019). The original set lasted thousands more miles and 8 years.

$ $ $

Here's a symbol list of 194 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AYI, ATSG, ALB, AA, ADS, AYX, DOX, AMED, AXP, AIG, AMWD, AMGN, APA, ATR, ARCB, ADM, AGO, AVY, BBBY, BA, BKNG, BRC, BMY, BG, CBT, CAL, CE, CNC, CNP, CENX, CRL, CHS, CHD, CTXS, CLF, CTSH, CMTL, ED, CLR, CRH, CMI, XRAY, DVN, DFS, D, DOV, DRQ, EIX, EMR, EL, EXPD, FFIV, FDS, FISV, FLS, FTNT, FCX, GME, GPS, GILD, GS, GGG, EVRG, GFF, HSC, HAYN, HTLD, HL, IDA, IEX, IDXX, INCY, NSP, IPI, ISRG, NVTA, JAZZ, LHX, LH, LAWS, LDOS, LLY, LNC, L, MTSI, MRO, MAS, MRK, MLHR, MCO, MS, MOS, MUR, MYGN, NBR, NOV, NTGR, NEE, NKE, OXY, OGE, PKE, PFE, PCG, POR, PFG, PG, PRU, QCOM, RGA, ROK, SMG, SEE, SWN, SUM, TECH, TER, RIG, UPS, UNM, VLO, WRB, WMT, WMB, ITA, IYM, IAI, IYK, IYE, IEO, IEZ, IHE, IDU, QTEC, FXI, BOTZ, IYH, IHF, SLV, IYF, EWO, EWZ, EWC, ECH, EEM, EWQ, EWG, EIS, EWI, EWW, EWS, EZA, EWY, EWD, EWL, EWT, THD, EWU, IBB, PPA, DBA, PBE, PXJ, PJP, IEV, IXC, ILF, MXI, XLY, XLP, XLE, XLF, XLV, XLB, UNG, USO, VHT. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 6/1/21. 2021 Market Forecast Update

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

Forecast Update

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

Based on sector performance from Fidelity, the best performing sectors for year to date performance as of 28 May 2021 were... (The numbering is how they ranked a month ago.)

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

Here's how they rank the industries, but only the top 10 appear. Year to date returns, as of 5/27. The numbering is how they ranked a month ago.

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 159 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACN, AMD, AFL, ALKS, AMED, AMWD, APOG, AMAT, ARCB, ADM, AWI, BSET, BKNG, EPAY, BRKS, CDNS, CNC, CVX, CHD, CGNX, CMCO, CONN, GLW, CREE, CMI, DHR, DECK, XRAY, DVN, DFS, DUK, BOOM, FFIV, FB, FAST, FIS, FISV, FDP, GME, GOOGL, GPRO, HLIT, HSC, HAYN, HQY, HSII, HNI, HD, HON, HOV, IDA, NSP, INTC, IPAR, NVTA, JKHY, KBAL, KLAC, LZB, LH, LRCX, LAWS, LEG, LXU, MTSI, M, MAS, MDC, MRK, MU, MYGN, NBR, NOV, NTGR, NVDA, OGE, OMCL, OMC, ASGN, OXM, PKE, PTEN, PYPL, PPG, QCOM, RL, RMBS, RGS, REV, RES, CRM, SMTC, NOW, SLGN, SO, SWN, SCS, SSYS, TECH, TDOC, TDC, TER, SLCA, VEEV, WU, WEX, WDAY, XEL, XLNX, IYE, IHI, IEZ, IHE, IDU, QTEC, BOTZ, IGV, SOXX, EIS, EWJ, EWS, EZA, EWY, EWP, EWT, EWU, QQQ, PHO, ROBO, ILF, SSO, XLY, XLE, XRT, XLU, SMH, MGK. Clink this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

 

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