As of 11/22/2024   Indus: 44,297 +426.16 +1.0%     Trans: 17,367 +194.86 +1.1%     Utils: 1,067 -8.74 -0.8%     Nasdaq: 19,004 +31.23 +0.2%     S&P 500: 5,969 +20.63 +0.3%	YTD  +17.5%    +9.2%    +21.0%    +26.6%    +25.1%	Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,200 or 1,000 by 12/01/2024   20,000 or 18,400 by 12/01/2024   6,100 or 5,800 by 12/01/2024
Chart Pattern Indicator: on 11/20/24

As of 11/22/2024   Indus: 44,297 +426.16 +1.0%     Trans: 17,367 +194.86 +1.1%     Utils: 1,067 -8.74 -0.8%     Nasdaq: 19,004 +31.23 +0.2%     S&P 500: 5,969 +20.63 +0.3%	YTD  +17.5%    +9.2%    +21.0%    +26.6%    +25.1%
Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,200 or 1,000 by 12/01/2024   20,000 or 18,400 by 12/01/2024   6,100 or 5,800 by 12/01/2024
Chart Pattern Indicator: on 11/20/24

Thursday 3/31/22. Cryptocurrency: 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.

$ $ $

I show bitcoin on the daily chart.

The coin has not formed a double bottom at AB. Why? Because the coin has to close above the peak between bottoms A and B. In short, the coin needs to close above line C. That hasn't happened yet as the chart shows.

If the coin does climb to confirmation, then I'd expect the coin to continue higher, perhaps much higher. Eyeballing the chart, that would suggest a rise to $57,000.

$ $ $

Here's a symbol list of 90 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, AEP, AEL, AMGN, ANIK, ANTM, ASH, BMI, BCPC, BECN, BIIB, BMRN, EPAY, CBT, CALM, CE, CLS, CMCO, CMTL, CRH, CW, XRAY, DVN, DFS, ^DJT, D, DRQ, BOOM, EXP, WIRE, EVH, FFIV, FDP, HELE, HP, HOLX, INFN, IIIN, INTC, LANC, MHO, MTRX, MRK, MLI, NOV, NTAP, NJR, NXGN, NI, JWN, OXM, PKG, PYPL, PCG, PHM, DGX, RGS, RCKY, RES, SCHW, SRE, SKX, LUV, SWX, TPX, TEVA, TXN, TJX, RIG, VRSN, VMC, WAT, WSO, WSM, WWW, IAI, IAT, EZA, THD, PJP, 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 3/30/22. 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 index has been on a straight-line run up for two weeks or so. Is it time for a retrace?

If you look at the thin blue CPI line near the bottom of the chart, the answer is "no." It's pegged near the top of the scale (bullish).

My guess is the index has more room to climb (to 350 to 360, near prior peaks) and then it'll retrace to about 250 to 270. After that, I'll re-evaluate.

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 blue and red lines have climbed along with the index. The more sensitive red line made a good gain from a week ago. It moved above the prior peak, which is a good sign.

So if you combine both charts, it looks as if the bull run is intact. I don't see anything which hints of a retrace but maybe that's when it's most dangerous and overdue for one to begin.

Take care.

$ $ $

Here's a symbol list of 252 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ANF, ACN, ADBE, AEIS, AES, ADS, DOX, AMED, AEL, AXP, AMGN, AMN, APH, AON, APA, AAPL, AMAT, ACGL, ASH, ATO, ADSK, ADP, AVY, AXS, AZTA, BECN, BBBY, BIG, BIIB, BA, BKNG, BOOT, BAH, BMY, CDNS, CPB, CE, CX, CENX, CRL, CHS, CHD, CIEN, CLNE, CLX, CNA, CGNX, CL, CMTL, COTY, CRH, CTS, DHR, XRAY, DVN, DFS, DOV, DRQ, EXP, EBAY, WIRE, EPAM, EFX, EL, FFIV, FDS, FDX, FOE, FIS, FISV, FLEX, FDP, FRD, IT, GE, GPN, GL, GOOGL, GPRO, HELE, HP, HNI, HUBG, JBHT, ITW, ILMN, ITGR, IPAR, TILE, ISRG, JKHY, JBLU, K, KELYA, KFRC, KMB, KLAC, LHX, LRCX, LAMR, LAWS, LEN, LLY, MAN, MCHX, MAS, MA, MDT, FB, MGEE, MLKN, MCO, MLI, NBR, NCR, NFLX, NTAP, NJR, NWL, NEU, NKE, NI, JWN, NUS, OGE, ASGN, OMI, OXM, PRFT, PETS, PLXS, PPL, PFG, PG, DGX, RL, RMBS, RGA, RHI, ROK, ROG, ROST, RES, CRM, SCHW, SMG, SMTC, SHW, SKX, LUV, SWX, SXI, SSYS, SNPS, TPR, TECH, TDOC, TPX, TXN, TMO, TJX, RIG, TREX, SLCA, UPS, VFC, VEEV, V, VMC, WMT, WAT, WU, WMB, WSM, WOLF, ZBRA, IAI, IYC, IHI, IHE, DDM, FTEC, FDN, QTEC, FXL, ICF, IYH, IHF, IYZ, IGV, SOXX, SLV, EWA, EWK, EWC, ECH, EEM, EWQ, EWG, EWI, EWW, EPP, EWP, EWL, TUR, QLD, IBB, PBE, PEJ, PJP, QQQ, PHO, IEV, IXN, ILF, SSO, XLY, XLE, GLD, XRT, SPY, XLK, SMH, VHT, VIS, 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.

-- Thomas Bulkowski

Tuesday 3/29/22. Slider Trading Quiz! Masco (MAS)

$ $ $

I show another slider trading quiz featuring Masco: MAS stock.

$ $ $

Here's a symbol list of 174 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AMD, APD, ADS, AMED, AEL, AMGN, AMN, AAPL, AMAT, ATR, ARCB, ADSK, AXS, AZTA, BMI, BBBY, BIO, BIIB, BA, BRC, BBW, BG, CACI, CDNS, CRL, CHS, CIEN, CMCO, CMTL, ED, GLW, CCRN, DRQ, EBAY, EIX, EL, RE, FICO, FAST, FIVN, FORM, FTNT, FRD, GME, GS, GOOGL, GPRO, EVRG, GES, HBI, HSC, HQY, HSII, HSY, IDA, IEX, IDXX, ILMN, INFN, IIIN, IPAR, INTU, NVTA, JAZZ, KALU, K, KMT, KSS, LZB, LRCX, RAMP, MTSI, MAN, MA, MTRN, MTRX, MU, MSFT, MLKN, MCO, ^IXIC, NFLX, NJR, NEU, NKE, NI, NWPX, PANW, PDCO, PRFT, PPL, PINC, PG, PHM, KWR, RL, RMBS, RJF, RNG, ROST, SAIA, CRM, SMG, SMTC, NOW, SHW, SKX, SO, SRDX, SNPS, TPR, TECH, TDOC, TDC, UGI, UPS, VEEV, VRSN, VC, WOLF, WDAY, ITA, IYK, IYC, IHI, FTEC, FDN, QTEC, FXL, ICF, IGV, SOXX, EWO, ECH, EIS, EWY, EWT, QLD, PEJ, QQQ, ROBO, IEV, IXN, SSO, XLY, XRT, XLK, USO, 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 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 3/28/22. Market Monday: Bull Market in the Dow Utilities

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

My Prediction

Yes, the labeling doesn't make a lot of sense, but I show the Dow utilities chart on the daily scale.

At AFGB is what the Elliott wavers call a corrective phase or an ABC correction. In my world, it's a measured move down. What's important about the pattern is that leg GB nearly matches the length of AF. I didn't measure it in this case, but they look darn close.

At BCDE, it's the reverse, a measured move up. The measure is the same: the second leg (DE) should nearly (but rarely) match the length of the first leg (BC).

What does that means for the coming week?

If the pattern follows the prediction, the utilities should continue higher.

With interest rates rising, why would debt-heavy utilities rise? Answer: I think it's a flight to safety. People can collect a decent dividend from holding shares even as the market drops. That buying has pushed prices up and the utility average has responded. As of yesterday (Thursday), the Dow utilities is the only average in positive territory for the year.

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 199 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, AMD, AES, APD, ALRM, ALK, ADS, AYX, AEO, AMN, APA, AAPL, AMAT, ARCB, ACGL, AGO, ADSK, AVNT, AXS, AZTA, BMI, BIO, BIIB, BA, BOOT, EPAY, BRC, BBW, BLDR, CDNS, CRL, CVX, CHS, CIEN, CLX, CNO, ED, COP, CLR, GLW, CCRN, CTS, DDS, ^DJU, DRQ, EBAY, EIX, EMR, EOG, EQT, EL, RE, EVH, XOM, FICO, FE, FIVN, FORM, FTNT, GILD, GOOGL, GPRO, EVRG, GES, HSII, HP, HSY, HON, DHI, HURC, IDXX, ILMN, INFN, IIIN, IPAR, IBKR, TILE, INTU, NVTA, KALU, KMT, KSS, LRCX, LDOS, RAMP, MTSI, MANH, MAN, MU, MSFT, MCO, MUR, NBR, ^IXIC, NFLX, NTAP, NJR, NKE, NI, PANW, PDCO, PTEN, PETS, PPL, PG, PHM, KWR, RL, RNG, ROST, RES, SAIA, CRM, SMG, SIGI, NOW, SHW, SLGN, SKX, SO, SWX, SWN, TPR, TECH, TDOC, TDC, TEVA, TOL, TSCO, RIG, UGI, VEEV, VRSN, VC, WEX, WSM, WOLF, WDAY, IYK, IYC, IYE, ITB, IHI, IEO, IEZ, IDU, FTEC, FDN, QTEC, IGV, SOXX, IGE, EWZ, EWC, EIS, EWM, EWY, EWP, EWT, QLD, IBB, PEJ, PXJ, QQQ, ROBO, IXC, IXN, SSO, XLP, XLE, XLF, XRT, XLK, UNG, 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

Friday 3/25/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 162 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AMD, APD, ALKS, ADS, AMED, AMN, APOG, AAPL, AMAT, ARCB, ADSK, AVNT, AZTA, BMI, BZH, BIO, BIIB, BKH, BA, BRC, BBW, BLDR, BG, CDNS, CE, CRL, CHS, CIEN, CTXS, CLF, GLW, CCRN, CSGS, DRQ, EBAY, EIX, EL, RE, FICO, FIVN, FORM, FTNT, GOOGL, GPRO, GES, HSII, HP, HNI, HURC, IDXX, ILMN, INFN, IBP, IIIN, IPAR, INTU, NVTA, KALU, K, KMT, KMB, KSS, LRCX, LAMR, LDOS, RAMP, MTSI, MAN, MCHX, MTRX, MU, MSFT, MCO, MOS, ^IXIC, NFLX, NEU, NXGN, NKE, OUT, OXM, PANW, PPL, PINC, PG, PHM, KWR, RL, RNG, ROST, SAIA, SLB, SMG, NOW, SHW, SKX, SO, SWN, SCS, SUM, SRDX, TPR, TECH, TDOC, TDC, TMO, UGI, VEEV, VRSN, VC, WSO, WEX, WSM, WOLF, IYK, IYC, ITB, IHI, IEZ, FTEC, QTEC, IGV, SOXX, EWA, EWO, EIS, EWM, EWW, EZA, EWY, EWT, QLD, PEJ, PXJ, QQQ, ROBO, IXC, IXN, SSO, MXI, XHB, XRT, XLK, UNG, 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.

$ $ $

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 3/24/22. 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 a trendline (red line) to see how the index compared to the uptrend. It pierced the trendline at B and hugged it going up to A. From there, it has drifted lower.

After an upward move, you often see price retrace half the upward move. In this case, that's a rise from 12,600 to 14,200 or 1,600 points (about). Half of that would be a drop back to 13,400 (or 14,200 - 1600/2). I show that as the blue line on the chart.

If this were the daily chart, I'd feel more comfortable than this intraday chart. There's a lot more noise on this scale than on the daily charts. But that's the target. It took 6.5 days to to rise that far and price often drops twice as fast as it rises, so look for the index to reach the target in about 3 days (Monday).

$ $ $

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: AYI, ADBE, AMD, AJRD, APD, ALRM, AA, ADS, DOX, AEO, AFG, ABC, AMGN, AMN, AAPL, AMAT, ATR, ARCB, AWI, AGO, ADSK, ADP, AVNT, AZTA, BMI, BCPC, BSET, BAX, BBBY, BIO, BIIB, BA, BKNG, BRC, BBW, BLDR, CDNS, CRL, CHS, CIEN, CLNE, CL, COP, CLR, GLW, CR, CRH, CCRN, CW, DVN, ^DJI, DRQ, EBAY, EOG, EL, RE, EXPD, XOM, FOE, FIVN, FORM, FTNT, FDP, GME, IT, GD, GILD, GOOGL, GPRO, GGG, GES, HSII, HNI, HOV, HURC, IEX, IDXX, ILMN, INFN, IBP, ITGR, IPAR, INTU, ISRG, NVTA, KALU, KMT, KMB, KLAC, KSS, LRCX, LEN, LLY, RAMP, MTSI, MAN, MRO, MCHX, MGEE, MU, MSFT, MCO, MLI, MYGN, ^IXIC, NFLX, NEU, NKE, PANW, PATK, PAYX, PRFT, PETS, PINC, PG, KWR, RL, RNG, ROG, ROST, SAIA, SLB, SMG, SRE, NOW, SHW, SKX, SXI, SRDX, TPR, TECH, TDOC, TFX, TPX, TDC, TJX, TOL, RIG, TREX, SLCA, UGI, VLO, VEEV, VRSN, VC, WOLF, IAI, IYK, IYC, IYE, ITB, IHI, IEO, IEZ, IHE, FTEC, QTEC, IGV, SOXX, IGE, ECH, EIS, EWY, EWT, THD, QLD, PEJ, PJP, QQQ, ROBO, IXC, IXN, SSO, XLE, XHB, XRT, XLK, UNG, USO, 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 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 3/23/22. 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 CPI has been bullish for more than a week now. That's shown in the chart by the vertical green line on the far right of the chart.

The indicator line, which is the blue one near the bottom of the chart, has ticked up and is near the top of the scale for this indicator.

In short, the chart is bullish and I don't see any indications of the upward run ending. However, that means we're overdue for a retrace.

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 have turned bullish from a week ago. The straight-line run up that we saw in the prior chart reflects here by a sharp move up.

So this chart is bullish and the prior chart is bullish, so I remain bullish, too.

$ $ $

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: AXDX, AYI, ADBE, AMD, AFL, APD, ALKS, ADS, DOX, AEE, AEO, AFG, AIG, ABC, AMN, APOG, AAPL, AMAT, ATR, ARCB, AWI, AIZ, ADSK, AVNT, AZTA, BMI, BAX, BBBY, BIO, BIIB, BMRN, BA, EPAY, BRC, BBW, BLDR, CDNS, CRL, CHS, CIEN, CLR, GLW, COTY, CCRN, CCK, CW, DRQ, DTE, BOOM, EBAY, EPAM, EL, RE, FDX, FOE, FISV, FIVN, FORM, FTNT, FDP, GME, GIS, GOOGL, GPRO, GGG, GES, HSII, HNI, DHI, HOV, HURC, IEX, IDXX, ILMN, INFN, IBP, IPAR, INTU, ISRG, NVTA, KALU, KMT, KSS, LRCX, LEN, LLY, RAMP, MTSI, MAN, FB, MGEE, MU, MSFT, MCO, MLI, NBR, CNR, NFLX, NEU, NXGN, NKE, JWN, PKG, PANW, PATK, PTEN, PYPL, PRFT, PICO, PG, PRU, KWR, RL, RMBS, RGS, RNG, ROG, ROST, SAIA, CRM, SMG, NOW, SHW, SKX, SWX, SXI, SNPS, TPR, TECH, TDOC, TFX, TPX, TDC, TOL, TREX, UGI, UNM, VEEV, VRSN, VC, WEX, WSM, WOLF, IYK, IYC, ITB, IHI, IHE, FTEC, FDN, QTEC, FXI, IGV, SOXX, SLV, EWA, EWO, EWZ, EWC, EEM, EWQ, EIS, EWJ, EPP, EWY, EWT, TUR, EWU, QLD, PEJ, PXJ, PJP, QQQ, ROBO, IEV, IXN, ILF, SSO, XLF, XHB, XRT, XLK, UNG, SMH, 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.

-- Thomas Bulkowski

Tuesday 3/22/22. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Eli Lilly: LLY stock.

$ $ $

Here's a symbol list of 162 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, ADTN, APD, AA, AMZN, DOX, AEO, AFG, ANIK, APA, ATR, ACGL, ADM, AWI, BZH, BBY, BBW, CAL, CX, CENX, CF, CVX, CSCO, CLNE, CLF, CNA, CTSH, COP, CLR, CRH, CCK, CSGS, DHR, DVN, DFS, ^DJU, BOOM, EMR, EOG, EQT, RE, XOM, FDS, FWRD, FRD, GNW, GOOGL, HAYN, HL, HELE, HP, HOV, HURC, NSP, IPI, IVC, KBH, KELYA, KLIC, LHX, LZB, LNC, LMT, LOW, MHO, MRO, MLKN, MOS, MLI, MUR, MYGN, NBR, CNR, NJR, NEE, NI, JWN, NOC, NVDA, ASGN, OMI, PTEN, PCG, PICO, POR, RLI, ROST, SCHW, SMG, SEIC, SLGN, SCCO, SWX, SCS, SUM, SRDX, TPX, TMO, TJX, TRV, TZOO, SLCA, UPS, VFC, VLO, VRTX, WRB, WEX, WMB, WSM, WWW, IYM, IYE, IEO, IHF, IAT, IGE, EWO, EWZ, EWC, EWQ, EWG, EWI, EWW, EWP, EWD, TUR, EWU, IEV, ILF, SSO, MXI, XLE, XLF, XLB, XRT, XAR, UNG, USO, VIS, VAW. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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 3/21/22. 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.

A blue trendline connecting the peaks (you connect peaks when it slopes downward) shows that the trend changed from down to up (when the index closed above the blue trendline). The uptrend has been moving higher for about a week but my expectation is that it'll retrace about half the move up when it does reverse. That would be typical. So at this stage, you might see it drop to line C.

Line C is the confirmation price where potential double bottom AB turns into a real and valid chart pattern. As the chart shows, the index made a strong push higher after confirmation.

What does all of this mean? I've already given the answer, but I expect the index to retrace this week. If we get a reversal on Monday, then look for a drop to C (it may take a few days to get there).

If the index coasts higher, then expect a drop to stop above C (that is, half the distance from B to where it tops out).

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 123 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ADTN, AEIS, AMD, AA, APOG, AWI, BBY, BMRN, BKNG, BOOT, EPAY, BBW, BLDR, CDNS, CENX, CF, CINF, CSCO, CNA, CTSH, GLW, COTY, CRH, CCK, CSGS, CW, DHR, DVN, DRQ, BOOM, FDS, FICO, FOE, FISV, FWRD, GPS, GD, GIS, GFF, HELE, HURC, INCY, NSP, IBKR, JNJ, KBH, KELYA, KLIC, LHX, LZB, LEG, LMT, MANH, MCHX, MTRN, MDT, MLI, MYGN, NEE, NOC, NWPX, ASGN, OMI, PAYX, PRFT, PCG, PICO, RGS, REV, RLI, ^GSPC, SCHW, SEIC, SO, SR, SCS, SUM, TPX, TXT, TMO, UPS, VC, WAT, WMB, WWW, XEL, IYE, ITB, IYH, EWA, EWO, EWC, EWQ, EWG, EWH, EWI, EWJ, EWW, EWP, EWD, EWU, PBE, IEV, SSO, MXI, XLF, XHB, XLB, XRT, XLU, VHT, 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 3/18/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 116 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, APD, AA, ALKS, ALL, AYX, ABC, ADM, AIZ, ADP, BLL, BAX, BBY, CALM, CENX, CINF, CSCO, CNA, CLR, COST, CRH, CTS, CW, DHR, DVN, DRQ, BOOM, EVH, FOE, FMC, FWRD, FCX, HSC, HAYN, HTLD, HSIC, HOLX, HD, HURC, NSP, IPI, KELYA, KLIC, LHX, LZB, LOW, MAS, MLI, MUR, MYGN, NOV, NOC, OXY, ASGN, OMI, PAYX, PCG, PICO, PHM, RGS, REV, SLB, SEE, SIGI, SHW, SO, SUM, TGT, TPX, TMO, TSCO, RIG, TRV, TZOO, SLCA, UPS, WAT, WU, WMB, WWW, WDAY, IEZ, IDU, BOTZ, EWA, EWO, EWC, EWQ, EWG, EWI, EWW, EWP, EWD, EWT, TUR, EWU, DBA, PBE, ROBO, IEV, MXI, XLP, XLB, XRT, UNG, USO, VAW. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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 3/17/22. Cryptocurrency DOGE-USD

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

$ $ $

I show a picture of the cryptocurrency DOGE-USD on the daily scale.

Not much has happened since the last time I looked at DOGE.

At AB, there's an unconfirmed double bottom. That's two bottoms near the same price. (I don't show a scale because it's less than $1 and my chart program doesn't report it anyway).

The double bottom will confirm as a valid chart pattern when the currency closes above the highest peak between the two bottoms. I show that as the horizontal red line, C.

As the chart shows, confirmation hasn't happened yet, so all we have are squiggles on the price chart.

My guess is that the coin will turn up and you'll get that confirmation. That means price will make a push higher above C. We just have to wait and see if confirmation occurs.

$ $ $

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: AXDX, ATSG, AA, ALL, AYX, DOX, AFG, ADM, ARW, AGO, BBY, BIG, BMRN, BOOT, BRC, BMY, CPB, CX, CENX, CF, CHD, CLX, CNA, CMTL, CLR, CRH, CCK, CTS, CW, DHR, DVN, ^DJT, DRQ, BOOM, EXP, EPAM, XOM, FMC, FWRD, FCX, GPS, GIS, HSY, HUBG, HURC, NSP, IPG, NVTA, KELYA, KSS, KLIC, LHX, LZB, LEG, LDOS, MHO, MLM, MYGN, NBR, NOV, NI, NOC, NWPX, OGE, OMC, ASGN, OMI, PTEN, PCG, PICO, PNW, PFG, PGR, RMBS, RGS, SAIA, SLB, SCHW, SAIC, SEE, SEIC, SWX, SUM, TGT, TDOC, TPX, TMO, RIG, UPS, UNM, VFC, VLO, VMI, V, VC, WRB, WAT, WMB, WOLF, WWW, WDAY, IEZ, FXL, FXI, EWA, EWO, EWK, EWQ, EWG, EWI, EWM, EWW, EWY, EWP, EWD, DBA, PBE, PXJ, IEV, XLE, XLF, XLB, XAR, 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 3/16/22. 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.

Today's (Tuesday's) big rise of almost 600 points in the Dow industrials meant a switch from bearish to bullish in the indicator. You can see that reflected on the chart as the vertical green bar on the far right.

The indicator is bullish with 90.5% reading, where 100% is the max. Of course, volatility could erase the bullish signal easily enough by a steep drop in the markets. Signals can change for up to a week.

But it looks good. I'm thinking that the markets will be quiet tomorrow morning until the Fed announces their decision to raise rates by 1/4 point. Then the market will soar. That's a guess, but the market has been expecting a rate hike for a long time.

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 modest improvement from a week ago, but it's not that evident from the chart. Rather, I'm looking at the above numbers.

Like I've complained about for a few months now, the trend of the red and blue lines is downward throughout the entire chart. That is long-term divergence with the upward trend (until this year) in the index.

I think we'll be hitting bottom soon. Russia is running out of steam in their war. Ukraine is being shelled to death. Covid is coming back for another run at killing people. You'll see that in a few months, I think. Interest rates are rising. Inflation remains a stubborn problem. Hmm. Most of that isn't good news, and yet I remain bullish.

$ $ $

Here's a symbol list of 122 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYI, ADTN, ALB, AA, AYX, DOX, ABC, APH, AZTA, BBY, BIG, BAH, BG, CE, CENX, CVX, CHS, CSCO, CNA, CMCO, CLR, CRH, CROX, CCRN, CCK, CTS, CW, DHR, DVN, D, BOOM, EXP, EXPD, XOM, FDS, FIS, FWRD, FCX, GPS, GD, GE, HBI, HLIT, HSC, HTLD, HSII, HURC, NSP, ITGR, IPI, IVC, KELYA, KSS, KLIC, LHX, LZB, LDOS, LXU, MHO, MRK, MYGN, NBR, NEU, NXGN, NKE, NOC, ASGN, PKG, PATK, PDCO, PCG, PICO, RMBS, RGS, SAIA, SLB, SAIC, SCCO, SCS, SUM, TGT, TDOC, TPX, TMO, UPS, VRTX, WERN, WMB, WWW, WDAY, IYK, IYE, IEZ, IGE, EWO, ECH, EWQ, EWG, EWH, EWI, EWW, EWP, EWD, PPA, PXJ, IEV, IXC, XLE, GLD, XHB, XLB, XRT, XAR, USO, VAW. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 3/15/22. Slider Trading Quiz! KB Home (KBH)

$ $ $

I show another slider trading quiz featuring KB Home: KBH stock.

$ $ $

Here's a symbol list of 124 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ADTN, AES, ALKS, AYX, AMZN, AMWD, APH, AAPL, ATO, AZTA, BZH, BIG, BG, CACI, CLS, CENX, CLNE, CMCO, CMTL, CAG, CRH, CROX, CCRN, CTS, CMI, D, DTE, EMR, WIRE, EL, EVH, EXPD, FFIV, FICO, FLS, FORM, FTNT, FRD, GS, GOOGL, HBI, HLIT, HIG, HAYN, HTLD, HURC, IDXX, IBP, IIIN, IPI, NVTA, JNJ, KELYA, LNC, LXU, MTRN, MU, MYGN, NFLX, NTGR, NKE, NWPX, OMCL, OMC, OTEX, PKG, PANW, PRFT, PNW, PFG, PG, PRU, PEG, PHM, QCOM, RGS, SCHW, SMG, SMTC, SWX, SR, SNPS, TPR, TECH, TSCO, UNM, VMI, WMT, WAT, IHI, FXI, IYF, EWO, EWK, EWZ, EEM, EWQ, EWG, EIS, EWI, EPP, EZA, EWP, EWD, EWL, TUR, PPA, IEV, ILF, XLY, XLF, XAR, XLK, 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 3/14/22. 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 Nasdaq composite on the daily scale.

At AB, there's a pretty double top chart pattern. It confirmed as a valid pattern when the index closed below the low between the two peaks. That happened at line B.

At C, the index pulled back to the breakout price of the double top.

After that, the index dropped and that's typical for pullbacks.

What happens next? I was hoping you wouldn't ask me that because no one knows. I can only guess.

I keep hoping for a sharp recovery but as the Ukraine-Russia war continues, there's going to be pressure on the markets. I suspect there's a fear that the US will get directly involved and that might lead to world war 3. I can see that kind of involvement when Putin begins using chemical weapons. I expect that to happen in the next two weeks and the markets won't be thrilled with that development.

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 214 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ABT, ACIW, ADTN, AES, APD, ALRM, ALKS, AYX, AMZN, DOX, AMED, AEO, AMWD, APH, AAPL, ARCB, ARW, AIZ, BCPC, BSET, BAX, BECN, BZH, BIG, BAH, BRC, BMY, CDNS, CALM, CRL, CHKP, CIEN, CLNE, CLX, CL, CMCO, CMTL, CAG, GLW, CROX, CTS, CMI, DHR, XRAY, ^DJI, EIX, EMR, WIRE, RE, EVH, EXPD, FICO, FAST, FIS, FISV, FIVN, FLS, FORM, FTNT, FDP, GPS, GIS, GNW, GS, GOOGL, GPRO, GFF, HLIT, HAYN, HQY, HELE, HSIC, HNI, HOLX, HON, HUBG, HURC, IDXX, ITW, INCY, IIIN, IPG, NVTA, JKHY, K, KMT, KBAL, KLIC, LDOS, MHO, MTSI, M, MSFT, MLKN, MCO, MS, MYGN, ^IXIC, NFLX, NTGR, NWL, NEE, NXGN, NKE, NWPX, NVDA, OMCL, OMC, OTEX, OUT, PANW, PRFT, PINC, PFG, PHM, QCOM, RGS, REV, RNG, RHI, ROK, ^GSPC, SAIA, CRM, SEIC, SMTC, SCS, SSYS, SRDX, SNPS, TPR, TGT, TECH, TFX, TDC, TER, TMO, TOL, TSCO, TRV, SLCA, UPS, UNM, VLO, VMI, VRSN, V, WRB, WAT, WU, WSM, WDAY, ZBRA, ITA, IAI, IYC, ITB, IHI, IHE, FTEC, FDN, FXL, FXI, IYH, IAT, IYZ, IGV, EWA, EWZ, EWC, EWQ, EWG, EIS, EWI, EWM, EPP, EWS, EZA, EWP, EWL, QLD, IBB, PPA, PBE, QQQ, IXN, ILF, SSO, XLY, XHB, XRT, SPY, XAR, XLK, VHT, 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 3/11/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 94 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AES, ATSG, AEL, AMGN, AMN, ANIK, AMAT, BMI, BAX, BIG, BOOT, BRC, BBW, CNC, CHKP, CIEN, CSCO, CLX, CL, CMCO, CMTL, CAG, GLW, CCK, CSGS, CTS, DECK, XRAY, DDS, DUK, EXP, FOE, FIVN, FLS, FDP, GIS, GNW, GILD, EVRG, HSC, HAYN, HUBG, HURC, ITW, ILMN, NSP, IIIN, TILE, JKHY, K, KFRC, KBAL, LZB, LXU, MHO, MAN, MLM, MCO, NTGR, NWL, OUT, PATK, PGR, RGS, RNG, ROG, RES, SMTC, SLGN, SO, LUV, SWX, TXN, TJX, TSCO, VMI, VRTX, WWW, IYK, FXI, IYZ, EPP, EZA, USO. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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 3/10/22. 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.

The three peaks, 1, 2, and 3, highlight a triple top chart pattern. It confirmed when the index closed below the lowest valley (A) between the three peaks. That happened at B.

The measure rule is the height of the pattern subtracted from the breakout price. It's about 2 grid lines tall (from peak 3 to line A). That gives a target of C which the index met and exceeded on the way down.

Since then, the index has made a stair-step climb. I'm hoping the rise will continue.

$ $ $

Here's a symbol list of 79 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, ADTN, AES, ATSG, ALB, DOX, AEP, AFG, ANIK, BAX, BIG, BIO, BMRN, BBW, CRL, CSCO, CTXS, ED, CAG, CTS, XRAY, ^DJT, D, EMR, EOG, EZPW, FDX, FIS, FLS, GNW, HBI, THG, HSC, HAYN, HTLD, HELE, HURC, IDA, IEX, ITW, IIIN, IVC, K, LH, MYGN, NJR, NKE, NUS, OXY, ORI, OUT, PNW, RGS, RHI, SMG, SR, SRDX, TPR, TSCO, TZOO, TREX, VMI, WAT, WLK, XEL, IHI, IHE, IDU, IYH, EZA, PHO, ILF, XLV, XLU, 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 Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Wednesday 3/9/22. A Look At Indicators: Bearish

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 news is bearish. I thought we'd see a sharp rise, a big push higher, but noooo! The markets don't listen to me. They keep tumbling.

The CPI is bearish and shown by the vertical red line on the far right of the chart and the thin blue line near the bottom of the chart. The indicator has a value of 21.7% (today, Tuesday) which is bearish.

Today the indicator made a slight turn up, but we can only wait and see if that move is permanent.

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 suffered from a week ago. No surprise there because the market has dropped, too, sucking down most stocks.

The two charts this week are firmly bearish. Does that mean we're close to the bottom? That's hard to tell. I'd be nibbling now as price drops but I suspect, and perhaps hope, that we'll see a V-shaped bottom. That means a quick move higher.

If oil flows onto the market from Iran, that could push oil prices down and that would lift the market. If the Russians come to their senses and back off, that would also help. I'm not sure either of those will happen anytime soon.

$ $ $

Here's a symbol list of 133 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ACN, ADTN, AJRD, AES, AEP, AXP, AFG, APA, AMAT, ARCB, ACGL, AIZ, ATO, AXS, AZTA, BLL, BSET, BAX, BIG, BIO, EPAY, CDNS, CVX, CIEN, ED, CAG, CLR, CROX, CCRN, CSGS, CTS, DHR, D, DRQ, EIX, EMR, EOG, EL, XOM, FFIV, FE, FLS, FMC, FTNT, GD, GE, GGG, GFF, HAYN, HNI, HD, JBHT, HURC, IDXX, IIIN, INTC, IVC, KALU, KBAL, KLAC, LAWS, RAMP, M, MCHX, NBR, NFG, NFLX, NTGR, OGE, OMI, PANW, PTEN, PFE, PICO, PNW, RGS, REV, RLI, ROK, RCKY, ROG, SEE, SMTC, SLGN, SKX, SR, SXI, SCS, SSYS, TGT, TECH, TSCO, TG, SLCA, UGI, VMI, VRTX, WDAY, XEL, IHI, IDU, FXI, BOTZ, SLV, EWO, EEM, EWQ, EWG, EWH, EWI, EWJ, EWM, EZA, EWP, EWD, THD, EWU, PPA, IEV, IXC, GLD, 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.

-- Thomas Bulkowski

Tuesday 3/8/22. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Jones Apparel Group 1: JNY stock.

$ $ $

Here's a symbol list of 211 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYI, ADTN, AJRD, ATSG, ALK, ALKS, AEE, AEP, AXP, AIG, APA, APOG, AMAT, ACGL, ARW, ASH, AXS, BSET, BBBY, BERY, BA, BKNG, CBT, CDNS, CF, CIEN, CNO, ED, COP, CLR, COTY, CROX, CCRN, CCK, DFS, DOV, DRQ, EXP, EMN, EOG, EL, RE, XOM, FDX, FOE, FE, FLEX, FMC, GE, GNW, GGG, GFF, HIG, HNI, JBHT, HURC, IDA, IDXX, IIIN, ITGR, INTC, IBKR, IVC, JBLU, JNJ, KBH, KBAL, KLAC, KLIC, LNC, RAMP, LMT, M, MNDT, MAN, MCHX, MRTN, MLM, MAS, MA, MTRX, MDC, MU, MCO, NOV, CNR, NCR, NFLX, NTGR, NEU, NEE, NI, OGE, OLN, OUT, OMI, PANW, PTEN, PAYX, PRFT, PICO, POR, PFG, PRU, PEG, RL, RJF, REV, ROK, RCKY, ROG, RES, ^GSPC, SLB, SEE, SMTC, SLGN, SKX, SO, LUV, SR, SXI, SCS, SRDX, SNPS, TPR, TGT, TECH, TXN, RIG, TZOO, TG, UGI, UPS, UNM, VMI, V, VMC, WSM, WWW, WDAY, XEL, ZBRA, IYM, IAI, IYC, IHI, IEZ, IDU, FXI, BOTZ, IHF, IAT, IYF, EWO, EWK, ECH, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWM, EWS, EWY, EWP, EWD, EWL, EWT, THD, TUR, EWU, PPA, PEJ, PXJ, ROBO, IEV, IXC, IXN, ILF, XLE, XLF, GLD, 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.

$ $ $

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 3/7/22. 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 industrials on the daily scale. Here's how I determine when it's time to buy.

This evening, I was talking to my brother about buying the dip, and how to do that.

A head-and-shoulders top appears on the chart as LS (left shoulder), head, and RS (right shoulder). It looks as if the index closed below the blue neckline at A. When that happened, it was a sell signal.

But notice that the index turned around and has struggled to move higher.

In my terms, the head-and-shoulders busted the downward breakout and that suggests a strong upward move.

The way this might unfold I show as two routes. Route 1 is a climb following red line 1.

Alternatively, the index can drop to form a double bottom. Once that happens, look for a recovery following path 2 to 3.

Please don't assume that the rise to 1 or drop to 2 will be straight-line affairs. But if I had cash to put into the market or if I had an under performing stock (or one I thought would underperform in the coming months/years), I'd be buying the dip. If you're worried about a single stock dropping then buy an ETF like the QQQs (which track the Nasdaq) or a mutual fund to spread the risk.

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 186 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AYI, ADBE, AES, ALK, ALKS, AEE, AEO, AEP, AXP, AIG, AMGN, ANIK, APA, AMAT, ASH, BSET, BAX, BBBY, BERY, BIO, BKH, BA, BOOT, CACI, CDNS, CNC, CTSH, COP, CLR, COTY, CRH, CROX, CCRN, CCK, CSGS, CW, DECK, DFS, EMN, EOG, EFX, EQT, RE, XOM, EZPW, FOE, FE, FISV, FLEX, FTNT, GE, GL, HTLD, HSY, HNI, JBHT, HURC, IDXX, ILMN, INCY, IIIN, INTC, IBKR, IPI, ISRG, IVC, JKHY, JAZZ, JBLU, KBH, KLAC, LHX, LAWS, LEN, LNC, RAMP, M, MNDT, MANH, MAN, MCHX, MRTN, MAS, MA, MTRX, MS, MUR, NFG, NI, OXY, OGE, OLN, OMI, PANW, PTEN, PAYX, PICO, POR, PFG, PRU, PEG, RL, RJF, REV, RLI, SCHW, SEE, SMTC, NOW, SKX, LUV, SSYS, TECH, TFX, TDC, TOL, RIG, TZOO, VEEV, V, WEX, WWW, WDAY, ZBRA, ITA, IYM, IAI, IYC, IHI, IEO, QTEC, FXI, IYH, IHF, IAT, IGV, SLV, EWA, EWO, EWK, ECH, EEM, EWQ, EWG, EWH, EWI, EWJ, EWW, EWS, EWY, EWP, EWD, EWL, EWT, TUR, EWU, IBB, PBE, PEJ, PXJ, ROBO, IEV, XLE, GLD, 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 3/4/22. Pattern Trading Setups for the Weekend.

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Here's a symbol list of 157 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYI, ADBE, APD, ALB, ADS, AMZN, AEO, AEP, ANIK, APA, ATO, ADSK, BSET, BBBY, BBY, BIO, BKH, BA, BOOT, CBT, CDNS, CENX, CRL, CHKP, CGNX, COTY, CRH, CCRN, DECK, DFS, D, EPAM, EQT, EXPD, XOM, EZPW, FDS, FOE, FIS, FE, FISV, FTNT, GME, GE, GIS, HSC, HQY, HTLD, HSY, HNI, HOV, JBHT, HURC, IDXX, ILMN, IBP, INTC, IPAR, IBKR, TILE, NVTA, JKHY, KBH, KFRC, LH, LRCX, LEN, RAMP, LXU, M, MNDT, MANH, MCHX, MA, MTRN, MRK, FB, MCO, MS, ^IXIC, NXGN, NI, JWN, NVDA, OGE, OLN, OMI, PANW, PYPL, PICO, PNW, POR, PEG, PHM, RL, SEE, SMTC, NOW, SCS, SSYS, SRDX, SNPS, TECH, TDC, TOL, RIG, TZOO, VC, WEX, WDAY, XEL, ZBRA, ITA, IYM, IYC, IHI, FTEC, QTEC, FXL, IGV, EWO, EWZ, EWC, EWJ, EWM, EPP, EWP, TUR, EWU, QLD, IBB, PPA, PBE, PXJ, QQQ, ROBO, ILF, XLY, XLE, XAR, 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.

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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 3/3/22. 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.

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I show a picture of bitcoin (BTC-USD) on the daily scale.

I drew a channel, shown here in red by two down-sloping trendlines. I wanted to see where the coin was in relation to that channel.

The coin bottomed at C and climbed up to A, pushing outside of the channel. The coin retraced and surged to form a second peak, B.

When the index dropped, it formed a double top (AB). After confirmation (meaning after the double top became valid), the coin dropped to D, fulfilling the target for the chart pattern. That target is the height of the double top subtracted from the low between the two peaks.

Now, the coin is rising again amid the world's turbulence. It as reached the price level near A or B. If the coin were to drop below the lowest valley between A and where we are now, it would form a triple top.

Of course, the coin hasn't dropped yet but it looks like it's slowing after hitting resistance from the prior peaks at A and B. I'd expect it to drop in the coming weeks.

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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, ANF, ACN, AYI, ADBE, AEP, AFG, AIG, AMWD, AMGN, APA, ATR, ARW, ASH, AVNT, BSET, BIO, BOOT, EPAY, CDNS, CVX, CINF, CLF, CMTL, COP, CLR, CRH, CCRN, CW, DHR, ^DJI, D, DTE, EOG, EPAM, FFIV, FE, FISV, FDP, GPN, GES, THG, HLIT, HAYN, HTLD, HSY, HNI, HOV, HUBG, HURC, IDXX, ILMN, INTC, IVC, NVTA, JKHY, JAZZ, RAMP, L, M, MCHX, MLM, MTRN, MLKN, MUR, NBR, NCR, NTAP, NEU, NI, JWN, NWPX, OGE, ORI, OMI, PANW, PKE, PDCO, PICO, RMBS, REV, RCKY, CRM, SMG, SEE, SKX, SWX, SXI, SCS, TPR, TECH, TPX, TKR, RIG, TREX, UNM, VMI, WMB, WWW, WDAY, IHI, IEO, IDU, FXI, IHF, IAT, IGE, EWA, EWC, EWS, EWP, EWU, PXJ, IXC, XLE, 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.

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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 3/2/22. A Look At Indicators

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I released a new version of Patternz (7.34). It fixes two bugs. That's important if you use the Update Form to update your quotes.

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I read a Reuters article about hackers trying to interfere with operations in Russia and Belarus. I'm glad someone is taking cyber action...and having success.

For my part, I've attempted to block bots from Russia, China, and North Korea from accessing this website. You may have seen some weird error messages appear when trying to access the site. That's me trying to rig things. It's especially apparent with translators and blocked images. Sorry about that, but I don't have a fix for it yet. I wanted to paint the border surrounding the site blue over yellow (colors of the Ukraine flag) to show my support, but haven't figured that out yet either. Instead, I show the flag and am proud of the Ukrainian people for defending themselves with such courage.

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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.

We snuck in a green (bullish) bar on the chart, but the indicator turned red today. Sigh. It suggests a double bottom is going to form. If that's the case, then look for the second bottom to be a buying opportunity.

Indeed, this war has been a buying opportunity for stocks punished by the market. I still expect to see a strong and fast rebound but what do I know? I am frequently wrong.

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).

Much to my surprise, both lines show no change from a week ago. I expected the lines to drop. I will remind you of the longer-term downtrend that we see in the chart (from far left to far right, in both the red and blue lines).

The prior chart is very short-term bearish and this one is neutral but tending toward bearish. So I expect more of a bumpy ride ahead even as I expect a fast upward recovery (move).

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Here's a symbol list of 162 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ACIW, ADBE, AFL, ALRM, ADS, AMED, AEE, AEP, AXP, AIG, ANIK, APA, ATR, AWI, AGO, ATO, ADSK, AVA, AXS, BMI, BSET, BECN, BIO, BKNG, BOOT, CDNS, CAL, CE, CLS, CENX, CVX, CTXS, CLF, CNO, COP, CLR, CROX, CCRN, DHR, D, BOOM, EMN, EOG, EPAM, EQT, EZPW, FOE, FE, FISV, FLEX, IT, GPRO, GGG, HE, HL, HSY, HNI, HOV, HURC, IDXX, ITW, ILMN, NSP, IBP, INTC, NVTA, JKHY, LHX, LDOS, LNC, RAMP, LMT, M, MANH, MCHX, MRTN, MTRN, MOS, MLI, MUR, NFG, NOV, NJR, NI, NOC, NUS, OGE, OLN, OMI, PANW, PYPL, POR, PPG, PHM, CRM, SLB, SEE, NOW, SCCO, SXI, SCS, SSYS, TGT, TECH, TJX, RIG, TZOO, UNM, VC, WSO, WLK, WEX, WMB, WDAY, IYM, IYE, IHI, IEO, IEZ, QTEC, SLV, IGE, EWO, EWK, ECH, EWQ, EWG, EWH, EWI, EWS, EWP, EWU, PXJ, IXC, MXI, XLE, XRT, XAR, USO, VAW. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 3/1/22. 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 28 January 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 2/25/22.

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 2/25. The numbering is how they ranked a month ago.

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Here's a symbol list of 61 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AMD, AYX, AEE, BMRN, BA, BKNG, BG, COP, CTS, DECK, DVN, EPAM, EVH, FICO, FIVN, FRD, GD, GILD, HQY, HURC, INFN, IPI, LHX, LMT, LXU, MRTN, MOS, NEU, NXGN, NOC, NUS, OXY, OMI, PICO, PPG, PHM, RHI, ROG, SRE, TPR, TDOC, RIG, TZOO, UNM, WEX, WMB, WWW, IYE, IEO, IGE, EWH, PPA, PEJ, XAR, UNG, USO. Clink this link for details (pattern type, start and end dates).

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

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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