As of 04/18/2024   Indus: 37,775 +22.07 +0.1%     Trans: 14,947 -39.62 -0.3%     Utils: 860 +6.95 +0.8%     Nasdaq: 15,602 -81.87 -0.5%     S&P 500: 5,011 -11.09 -0.2%	YTD  +0.2%   -6.0%   -2.4%    +3.9%    +5.1%	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 04/18/2024   Indus: 37,775 +22.07 +0.1%     Trans: 14,947 -39.62 -0.3%     Utils: 860 +6.95 +0.8%     Nasdaq: 15,602 -81.87 -0.5%     S&P 500: 5,011 -11.09 -0.2%	YTD  +0.2%   -6.0%   -2.4%    +3.9%    +5.1%
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

Monday 5/31/2021. Feeding ThePatternSite.

Today is a trading holiday in the US.

If you wish to support the website, then try one of these options.

1. Perhaps the best way is come to this site and click on an image of one of my books. You'll find the images at the bottom of the page. The click will take you to Amazon.com. The link passes a code to them and I receive a small referral fee but only if you buy something while there during the visit. You do NOT need to buy the book. It's just a vehicle to get you to Amazon with the referral code.

   So each time you want to use Amazon.com to buy something, come to this site first. The referral is free (it does not increase the cost of anything you buy), it's easy to do, and it supports this site.

2. Finally, you can donate to the site directly. The home page (and some other pages as well) has a Donate link at the bottom of the page. For a limited time and while supplies last, I'll throw in a free book to those with addresses in the US who donate $100 or more. See the donate page for details.

Thanks! -- Tom Bulkowski

Friday 5/28/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 198 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADBE, AMD, AES, AKAM, ALB, AEE, AIG, AMWD, AMGN, APOG, AMAT, ASH, AVA, BCPC, BLL, BSET, BAX, BKH, BA, BKNG, EPAY, BRC, BRKS, BBW, BG, CDNS, CPB, CE, CHKP, CHD, CLNE, CLF, CGNX, CL, CMCO, ED, CONN, CLR, COST, CREE, CRH, CCK, DECK, DVN, DFS, ^DJU, ^DJT, D, DRQ, DUK, EIX, EXC, FB, FICO, FLEX, FLS, FTNT, FWRD, FDP, GME, IT, GE, GNW, GILD, GL, GOOGL, GPRO, GES, HSC, HAYN, HQY, HL, HSII, HP, HNI, HOV, IEX, IDXX, NSP, INTC, IBKR, ISRG, NVTA, JAZZ, KELYA, KLAC, LRCX, LANC, LAWS, LNC, MTSI, MANH, MRO, MAS, MTRN, MDT, MU, NTGR, NEU, NEE, NXGN, NVDA, OLN, OMCL, ASGN, PKE, PDCO, PYPL, PFE, PNW, POR, PPL, PRU, QCOM, RMBS, RJF, CRM, SMG, SEIC, SRE, SMTC, NOW, SWX, SR, SCS, TECH, TDOC, TFX, TDC, TER, TEVA, TXT, TJX, TOL, SLCA, UPS, UNM, WEX, WDAY, XLNX, ITA, IYM, IYE, ITB, IHE, IDU, QTEC, BOTZ, ICF, IAT, SOXX, EWA, EWC, EWH, EIS, EWI, EWM, EPP, EWS, PPA, QQQ, PHO, ROBO, SSO, XLY, XLE, XLI, XLB, XAR, 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.

There were 34 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 575 stocks searched, or 5.9%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

I found 15 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 36 bullish chart patterns this week and 4 bearish ones with any remaining (7) 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 5/27/21. 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.

The two red lines slope upward and hug price. A week ago, the index dropped below the bottom red line before recovering and forming a channel. I think both lines look a bit weird. They show a trend higher which follows an invisible ramp upward, but they don't resemble a channel in the traditional sense of the word.

At the top right of the chart I drew a blue line. It forms a ceiling which price is reluctant (so far) to pierce. So the index is bound on the top and on the bottom. One of the directions, or perhaps both, will have to give before we see a breakout. It's hard to tell what the final direction will be, but the above probabilities suggest an upward breakout.

Now that I think about it, the index is at the bottom trendline so it should bounce upward and push through the top blue line toward the top of the red channel.

$ $ $

Here's a symbol list of 147 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, ADTN, AMD, APD, AKAM, AA, AMGN, APA, AMAT, ARCB, AWI, ARW, ADP, AVY, AVNT, AXS, BLL, BSET, BAX, BBBY, BKNG, BMY, BRKS, BBW, CDNS, CALM, CRL, CIEN, CGNX, CL, CMCO, CREE, CCK, DHR, DECK, XRAY, DVN, D, DRQ, DUK, BOOM, EMN, EPAM, RE, XOM, FB, FICO, FDP, GME, GE, GNW, GPRO, EVRG, GFF, HBI, HLIT, HSC, HQY, HOV, IDA, ITW, NSP, INTC, ISRG, IVC, NVTA, K, KELYA, KBAL, KLAC, LB, LRCX, LAWS, MTSI, MA, MU, MLHR, MCO, CNR, JWN, NVDA, OGE, OMCL, OMI, OXM, PKG, PAYX, PYPL, PETS, PFE, POR, QCOM, RMBS, REV, RLI, ROK, RCKY, RES, SCHW, SMTC, NOW, STMP, TECH, TDOC, TFX, TER, WEX, WDAY, XLNX, ITA, IYE, IEO, IHE, QTEC, FXI, BOTZ, IYH, SOXX, EWH, EIS, EWY, EWD, PBE, PJP, QQQ, ROBO, ILF, SSO, XLE, 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 5/26/21. 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 signal flop that I reported on a week ago and suggested that the signals might disappear, have, in fact, gone bye-bye. That leaves a bearish signal on the far right of the chart. That's the vertical red bar which signaled in early May.

A small double bottom (circled in orange/yellow/brown/whatever) appears near the end of its power to send prices higher. In other words, the index has almost reached its target of the height of the double bottom added to the peak between the two bottoms. What remains is for the index to drop. And that agrees with the bearish reading from the CPI.

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 is the first time I can recall where the direction of the red and blue lines have diverged. The red line shows improvement from a week ago but not the blue line.

That's a lot like asking directions from two people. One points west and the other points east. Can they both be right?

The blue line turned down near the start of May. The red line turned lower before that, probably by about a week. Both lines were higher then than they are now, so both are heading lower. Although, short-term, the red line inched up, it's still lower than before May. So the chart is really bearish.

The prior chart is bearish, too. So that isn't good news for the markets.

$ $ $

How far will a stock rise? Find out in this new article.

$ $ $

Here's a symbol list of 226 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AYI, ADTN, AMD, AES, AFL, AKAM, ADS, AYX, AIG, ABC, AMGN, AMN, APA, AMAT, ARW, ADP, AVY, AXS, BLL, BSET, BERY, BA, BKNG, BOOT, BRC, BMY, BRKS, COG, CDNS, CALM, CAL, CE, CX, CNC, CF, CRL, CHKP, CHD, CIEN, CLNE, CGNX, CMCO, CMTL, ED, CR, CREE, CRH, CCK, CW, DECK, XRAY, DVN, D, DUK, EMN, EIX, EPAM, RE, EXC, FB, FIVN, FCX, FDP, FRD, GME, IT, GD, GIS, GNW, GS, GPRO, HLIT, HSC, HAYN, HTLD, HNI, HON, HOV, IDA, INTC, IVC, NVTA, JCOM, JKHY, JAZZ, KBAL, KLAC, LB, LRCX, LAMR, LAWS, LLY, LNC, RAMP, LXU, MTSI, MA, MU, MS, MOS, MLI, MYGN, NBR, NFG, CNR, NCR, NTAP, NJR, NWPX, NUS, NVDA, OGE, OMCL, OXM, PKG, PKE, PAYX, PYPL, PETS, PFE, PNW, POR, PRU, QCOM, RMBS, RJF, RLI, RHI, ROK, ROG, RES, SCHW, SAIC, SMG, SEIC, SMTC, NOW, SR, STMP, SCS, SSYS, SUM, TECH, TDOC, TFX, TER, TEVA, TSCO, VRSN, VRTX, WSO, WLK, WEX, WSM, WWW, WDAY, XEL, XLNX, IYM, IAI, IYE, DDM, QTEC, BOTZ, SOXX, IYF, EWZ, EWC, EEM, EWH, EIS, EWJ, EPP, EZA, EWP, EWD, EWL, EWT, TUR, QLD, PPA, QQQ, PHO, ROBO, SSO, MXI, XLE, XLF, XLI, XLB, XLU, 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.

-- Thomas Bulkowski

Tuesday 5/25/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Alcon stock.

$ $ $

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: DDD, AXDX, AJRD, AKAM, AEO, AEP, ARCB, ARW, BZH, BBBY, BERY, BAH, BLDR, CALM, CENX, CLF, ED, CRH, CROX, CCRN, CTS, CMI, CW, DVN, D, DRQ, DUK, EVH, GPS, GD, GIS, GPN, EVRG, THG, HSC, HE, HQY, HELE, INFN, NSP, IIIN, INTU, IVC, NVTA, JAZZ, KALU, K, KMT, LAWS, LOW, LXU, MDCA, MS, NCR, NUS, OMI, PKE, PCG, PICO, PEG, QCOM, RCKY, TEVA, TKR, TJX, TSCO, UPS, VFC, VRSN, VRTX, XEL, IYE, FXI, EWO, EWK, EWZ, EWQ, EWG, EIS, EWS, EWD, EWL, EWT, THD, PJP, ILF, XLE, 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 5/24/21. Market Monday: The Week Ahead

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

My Prediction

At the left of the chart is a broadening top pattern (B). You can't see the uptrend leading to the pattern, but it's there.

The broadening top broke out upward which it does 60% of the time in a bull market. That upward breakout started a trend which built a channel.

I show that channel by the two parallel red lines. But there's trouble brewing.

I circled the area of concern in green. Why is this area important? Because the index has pushed below the bottom of the channel.

In fact, I finished research recently which says that when a stock closes below a trendline, it's a sell signal. It works better than waiting for two closes (and a lower close and lower low) below the trendline.

Here, the index has closed below the trendline so it's a sell signal.

Maybe the index will rebound and re-enter the channel. Maybe a new channel will form at a less-steep slope. Or maybe the transports will tumble after a long uptrend. It's overdue for a retrace. We'll have to see what happens.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

Swing Traders: Pivot Points

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

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

Here are the formulas:

Earnings, Chart Patterns & Industries

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

Here's a symbol list of 125 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AKAM, AMZN, AEO, ARCB, ACGL, AXS, BLL, BECN, BZH, BRC, BLDR, CBT, CDNS, CENX, CLF, CMTL, CROX, CSGS, CTS, DECK, XRAY, DVN, DRQ, FAST, FFG, FE, FORM, FCX, FRD, HSC, HQY, HL, DHI, HURC, ILMN, INFN, NSP, IBP, IIIN, IBKR, INTU, IVC, NVTA, JAZZ, JBLU, JNJ, KALU, KBH, KMT, KMB, KSS, LAMR, LANC, LAWS, LEG, LEN, RAMP, LOW, LXU, MTSI, MANH, MDC, MDCA, MS, MUR, CNR, NI, NOC, NVDA, OTEX, OMI, PCG, PLXS, PGR, RL, RCKY, CRM, SWX, SR, TFX, TPX, TDC, TXT, VFC, VRTX, XEL, IYE, ITB, FXI, ICF, EEM, EWG, EIS, EWM, EZA, EWP, EWL, EWT, THD, TUR, PBE, PJP, PHO, IEV, XLY, XLE, XAR, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski

Friday 5/21/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 160 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AEIS, AKAM, ALK, AA, ADS, AMZN, AEO, AEP, ABC, ARCB, ADM, AIZ, AVNT, BZH, BIG, BIO, BMRN, BKNG, BOOT, BRKS, BLDR, BG, CDNS, CAL, CENX, CF, CHKP, CLF, ED, COP, CREE, CROX, CCRN, CTS, DECK, DVN, ^DJT, DRQ, BOOM, EXP, EMN, EBAY, EOG, EPAM, XOM, FICO, FLEX, FLS, FMC, FTNT, FWRD, GPS, GOOGL, GES, HSC, HE, HQY, HTLD, HP, HOLX, JBHT, IDXX, ILMN, INFN, IIIN, INTU, IVC, JBLU, KALU, KMT, KLAC, KSS, LRCX, LAWS, LNC, LOW, LXU, MTSI, MRTN, MTRX, MS, MOS, MUR, NOV, OXY, OMI, PKG, PYPL, PRFT, PCG, PICO, PLXS, PFG, PG, QCOM, RL, RCKY, RES, SLB, SKX, SCCO, LUV, SXI, SNPS, TPR, TFX, TER, TXN, TMO, TKR, TJX, RIG, SLCA, VLO, VMI, VMC, WU, WLK, WSM, WWW, XEL, IYM, IYE, IEZ, FDN, FXI, IYH, SOXX, EWG, EIS, EWL, PXJ, PJP, XLE, XRT, UNG, USO, SMH, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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 26 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 576 stocks searched, or 4.5%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

I found 3 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 8 bullish chart patterns this week and 7 bearish ones with any remaining (13) 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 5/20/21. 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.

The composite formed a double bottom at A. It confirmed when the index closed above the peak between the two bottoms. After that, it formed a double top at BC.

When the index closed below the blue line, it confirmed the double top as a valid chart pattern. The double top saw price gap down during the open. It confirmed the double top. If you hadn't shorted the index before it gapped open, you'd have a lost money as the index recovered.

The height of the pattern from C to the blue line is used as part of the measure rule. Subtract that height from the price of the blue line and you'd get a target. It looks like the index reached the target or came awfully close.

The blue line also highlights overhead resistance. The index is struggling to push above and remain above the blue line. Maybe we'll see it continue rising in the coming days.

$ $ $

Here's a symbol list of 258 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ACN, ACIW, AYI, AEIS, AMD, ATSG, ALK, ALL, AYX, AMZN, AMED, AEE, AEO, AEL, AMWD, AMN, APOG, ARCB, AWI, ASH, ADP, AVY, AXS, BLL, BAX, BECN, BZH, BBBY, BIG, BKH, BA, BOOT, BAH, BLDR, BG, CENX, CTXS, CLNE, CGNX, CL, GLW, CR, CROX, CTS, DHR, DVN, DFS, ^DJT, ^DJI, D, DOV, DRQ, BOOM, EXP, EMR, EFX, FICO, FAST, FIS, FISV, FLEX, FLS, FORM, FWRD, GPS, GD, GPN, GS, GGG, HBI, THG, HSC, HQY, HTLD, HELE, HD, HON, DHI, HUBG, IEX, ITW, INFN, IBP, IIIN, IBKR, INTU, IVC, KALU, KBH, KMT, LZB, LAMR, LAWS, LEG, LLY, LMT, LOW, MHO, MTSI, MANH, MAN, MAS, MA, MTRX, MDC, MS, MLI, MUR, NFG, NWL, NEU, NKE, NI, NWPX, ORI, OLN, OMC, ASGN, OUT, OMI, PKE, PATK, PAYX, PETS, PFE, PCG, PLXS, POR, PPG, PEG, RGS, RGA, REV, RLI, RHI, ROK, RCKY, RES, ^GSPC, SAIA, SMG, SHW, SKX, SO, SWX, SCS, SUM, TPR, TPX, TJX, TSCO, TG, TREX, SLCA, VMI, VRTX, V, VC, VMC, WSO, WLK, WWW, XLNX, ITA, IYK, IYC, IYE, ITB, DDM, QTEC, ICF, IYZ, IGV, IYF, EWA, EWQ, EIS, EWL, PPA, PBE, PHO, IXN, SSO, XLY, XLP, XLE, GLD, XHB, XLI, XLB, SPY, 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 Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Wednesday 5/19/21. 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 has been volatile this past week. It turned bearish then bullish and now it's bearish again. That most recent signal can change for up to a week, so don't put much weight on it.

If the index continues to fall (like a steep sell-off), both the red signal on the far right and the prior green one might disappear, leaving the first May red bar in place.

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).

Only the red line shows a deteriorating situation compared to a week ago. It's the more sensitive of the two indicator lines.

Back in early May, the red line diverged from the index (red line went down while the index climbed). They are now convergent...and heading lower.

So this chart is bearish joining the prior one. That tells me the index is going lower over the next week, but I've been wrong before. Keep that in mind.

$ $ $

Here's a symbol list of 163 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACIW, AEIS, AES, ALK, AYX, AMZN, DOX, AEO, AEL, AMWD, APH, AON, AMAT, ARCB, AWI, ARW, ASH, ADP, AVY, AVA, BLL, BAX, BECN, BZH, BBBY, BIG, BOOT, BRC, BLDR, CENX, CMCO, GLW, CROX, CCRN, XRAY, DVN, DFS, D, DRQ, BOOM, EXP, EXPD, FB, FLS, GPS, IT, GD, GS, GOOGL, HSC, HIG, HAYN, HQY, HTLD, HL, HUBG, INFN, IIIN, INTC, INTU, IVC, JBLU, JNJ, LRCX, LAMR, LAWS, LLY, LMT, LOW, MAN, MU, MS, MLI, MUR, CNR, NTAP, NWL, NEU, NKE, NI, NVDA, ORI, OLN, ASGN, OMI, PATK, PAYX, PRFT, PETS, PFE, PCG, PICO, PPG, QCOM, RMBS, RJF, REV, RHI, RCKY, RES, SAIC, SWX, SR, SUM, TPR, TGT, TEVA, TXT, TKR, TJX, TZOO, TG, UGI, UPS, VMI, VRTX, V, VMC, WMT, WAT, WLK, WWW, WDAY, IYE, IDU, DDM, FXI, SOXX, IYF, EWO, EWC, ECH, EWQ, EWW, EWP, EWD, EWL, SSO, XLY, XLP, XLE, GLD, XLB, SPY, 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.

-- Thomas Bulkowski

Tuesday 5/18/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Alcon: ACL.

$ $ $

Here's a symbol list of 87 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, APD, AKAM, ALKS, AMWD, AMGN, ACGL, AGO, BAX, BERY, BMY, CNC, CSCO, CMCO, CCRN, CTS, DVN, DDS, EQT, EVH, FB, FDS, FISV, FIVN, GME, GILD, HSC, HAYN, HQY, HL, HELE, HOLX, JBLU, JNJ, KELYA, LAWS, LLY, LXU, MRK, MS, MUR, PRFT, PICO, PNW, PLXS, PPL, PINC, PEG, RNG, ROK, SWX, SR, SXI, TGT, TMO, TSCO, IYE, IHI, IEO, IEZ, IHE, IDU, IYZ, SLV, EWK, EWZ, ECH, EWG, EWW, THD, TUR, PJP, IXC, XLP, 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 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 5/17/21. Market Monday: The Week Ahead

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

My Prediction

I show the Dow utilities on the daily scale.

The pattern in blue is a common one. Do you know its name? It's a descending scallop. Those breakout downward 78% of the time, according to near research from my book, Encyclopedia of Chart Patterns, 3rd edition.

That's what happened here when the pattern closed below the bottom of it in late February.

Shown highlighted in red is a flag. It's large but compared to the move up from A to B, the slide to C looks proportional. Even though flags are often short patterns, hanging on a flagpole, this one is probably fine. Flags in a bull market breakout upward 60% of the time (the statistics was taken from the same book).

There's no guarantee that this one will breakout upward, too, but that's the way to bet. I'd look to the left (off this chart) to see what the prior price action shows to determine support/resistance levels. That's important when trying to gauge how far price might move and to determine the breakout direction. I didn't do that in this case, so I'm using only the 60% breakout number to go on.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

Many options expire this week, so traders will be looking to close out their positions, and that suggests increased volatility (large daily price swings).

Swing Traders: Pivot Points

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

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

Here are the formulas:

Earnings, Chart Patterns & Industries

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

Here's a symbol list of 113 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ADTN, APD, AKAM, ALRM, ALK, AA, AEL, AMGN, APA, ACGL, AWI, AGO, AXS, BERY, BOOT, CNC, CNP, CVX, CHS, CINF, CLX, CNA, CNO, CGNX, CL, CSGS, CW, DDS, ^DJI, RE, EVH, EXC, XOM, FB, FIVN, FLS, FCX, IT, GILD, GL, THG, HSC, HE, HQY, HTLD, HL, HSIC, HNI, HUBG, INCY, IVC, NVTA, JNJ, LB, LHX, LANC, LAWS, LLY, LNC, L, M, MRO, MRTN, MRK, MS, MUR, NOV, JWN, NOC, NVDA, OXY, OGE, ORI, OXM, PANW, PKE, PLXS, PRU, DGX, ^GSPC, SEIC, SIGI, SKX, SXI, SRDX, TDC, TRV, TG, WMB, IYM, IAI, IYE, IEO, FXI, EWO, EWK, EWC, ECH, EWG, EWP, EWU, DBA, PJP, IXC, XLP, XLE, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski

Friday 5/14/21. Pattern Trading Setups for the Weekend.

$ $ $

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: ACIW, AJRD, APD, ALKS, ALL, DOX, AMED, AEO, AFG, ABC, AMGN, AMAT, ADM, AWI, ARW, AIZ, AGO, AXS, BMI, BAX, BZH, BKH, BA, BOOT, BAH, EPAY, BRC, BRKS, CACI, CNC, CNP, CHD, CNA, CAG, CSGS, DDS, ^DJT, D, DOV, BOOM, EIX, EPAM, RE, EVH, EXC, FB, FISV, FIVN, FLEX, GME, GIS, GL, THG, HLIT, HSC, HTLD, HSY, HNI, IDA, ILMN, NSP, IBP, IIIN, ITGR, INTC, IBKR, IPG, JBLU, K, KSS, LZB, LRCX, LAWS, MTRN, MRK, MGEE, MS, MOS, MUR, NOV, CNR, NTAP, NEU, NI, OXM, PATK, PLXS, PPL, PGR, PEG, RJF, RGS, SAIA, SLGN, LUV, SWX, SXI, TXN, TOL, TSCO, UGI, VEEV, IAI, IYE, IEO, IHE, FTEC, FXI, IYZ, SOXX, IYF, EWA, EWO, EWJ, EWM, EZA, EWL, PHO, IXC, XLE, XHB, 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 27 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 577 stocks searched, or 4.7%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 5 bullish chart patterns this week and 9 bearish ones with any remaining (13) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bearish (down) turn.

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

Thursday 5/13/21. 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.

Notice how the slope of trendline B is steeper than trendline A. That means momentum is increasing as price drops. Of course, those with a copy of my book, Encyclopedia of Chart Patterns, 3rd edition, will see in the text that the speed of downward moves is often at least twice as fast as upward moves. So the big, fast drops are no surprise.

The good news is that I believe this drop will end soon. People (traders) will settle down and realize the world isn't ending as we know it. Inflation will calm down and the pandemic will fade, perhaps turning into a chronic condition, requiring a booster shot annually.

Having said that, the bottom may be in September. Look at screen 2 through 4 here.

$ $ $

Here's a symbol list of 215 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACN, ADS, DOX, AEE, AEO, AEL, AXP, AFG, AMWD, AMGN, APH, ASH, AGO, AVY, AVNT, AXS, BLL, BAX, BZH, BBBY, BERY, BIG, BKH, BA, BAH, BRC, BLDR, CALM, CNC, CNP, CIEN, CINF, CSCO, CLX, CNA, CNO, CTSH, CL, CAG, CLR, GLW, COST, CR, CW, DFS, ^DJT, ^DJI, D, DOV, DTE, BOOM, EIX, EQT, EL, RE, EVH, EXC, XOM, FB, FE, FISV, FIVN, FLS, FWRD, GPS, IT, GD, GE, GIS, GNW, GL, GGG, EVRG, GFF, HBI, HLIT, HSC, HIG, HTLD, HELE, HNI, HD, IDA, IEX, ITW, NSP, IIIN, INTC, IBKR, TILE, JNJ, KBH, K, KELYA, KBAL, KMB, KSS, LB, LHX, LH, LAMR, LEG, LEN, LLY, LXU, MHO, MLM, MAS, MDC, MDT, MRK, MGEE, MCO, MS, MLI, MUR, NOV, CNR, NTAP, NJR, NI, JWN, NWPX, ORI, ASGN, OTEX, OUT, OMI, PKG, PATK, PAYX, PCG, PPL, PINC, PFG, PGR, PEG, RL, RLI, ROK, ROST, SCHW, SAIC, SMG, SHW, SKX, LUV, SWX, SWN, TGT, TPX, TXT, TKR, TJX, TOL, TSCO, RIG, TRV, TREX, VFC, VMC, WMT, WMB, WWW, IAI, IYE, ITB, IHI, IEO, IDU, DDM, ICF, IHF, IAT, IGE, IYF, EIS, EWJ, EWM, EWY, EWT, THD, IXC, XLP, XLE, XLF, XLV, XHB, XLI, XLU, 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 Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Wednesday 5/12/21. 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 turned bearish two days ago, right in time to see the index tumble. This wasn't a case of the signal changing and back-dating itself (when a large drop today causes NR7s waiting for breakout to turn bearish, thereby creating a bearish signal days earlier). I watched the bearish signal appear yesterday before my very eyes.

Anyway, it's bearish today (Tuesday) but it might not be tomorrow or within the next 7 days. It can change up till then.

There's also bearish divergence which I show with the brown/yellow lines, and one I've remarked on the last few weeks.

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 indicator line also shows bearish divergence on this chart, but notice how the red line turned down days ago (A, the start of which is the magenta line). At B, the index peaked but the red line remained significantly lower.

The above numbers says that both lines are lower today than they were a week ago.

Both charts are bearish, so maybe this downturn has legs. I don't know if that's true or not, so we'll have to wait and see.

$ $ $

Here's a symbol list of 169 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AYI, AEIS, APD, ATSG, ALK, ALKS, DOX, AEE, AEP, AEL, AMGN, ANIK, AON, AAPL, AMAT, ATR, AIZ, AGO, AXS, BSET, BIO, BA, BMY, BBW, CNC, CHD, CIEN, CLX, CTSH, CL, CMTL, CAG, CONN, GLW, COST, CTS, CW, DDS, D, DRQ, DTE, BOOM, EL, RE, EVH, XOM, FB, FOE, FIS, FEYE, FISV, FIVN, FLIR, GIS, GNW, GOOGL, GGG, EVRG, GFF, HLIT, HSC, HIG, HSII, HELE, HNI, IDA, INCY, IIIN, INTC, IPAR, IBKR, JCOM, JBLU, JNJ, K, KMT, KFRC, KMB, KLAC, LH, LAWS, LLY, MAN, MCHX, MTRN, MDCA, MDT, MRK, MU, MSFT, MS, MLI, MYGN, NOV, NTGR, NEE, NXGN, NUS, OLN, OTEX, OUT, PANW, PKE, PATK, PDCO, PPL, PINC, PGR, KWR, RLI, RCKY, SMG, LUV, SWX, SWN, SXI, SUM, TPX, TRV, TG, VFC, WMT, WWW, IYK, IYC, IYE, IHI, IEO, FXI, BOTZ, IGV, EWZ, EWT, IXC, IXN, ILF, SSO, XLP, XLE, XRT, SPY, XLK, USO, 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.

-- Thomas Bulkowski

Tuesday 5/11/21. Slider Trading Quiz! Stop Placement in Abgenix

$ $ $

I show another slider trading quiz featuring Abgenix: ABGX. This discusses stop placement.

$ $ $

Here's a symbol list of 201 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ANF, AYI, AJRD, AKAM, AA, ALL, AMZN, AEO, AXP, AIG, APH, ANTM, APA, AMAT, ATR, AIZ, ADSK, ADP, AVNT, AXS, BCPC, BLL, BSET, BIO, BKNG, BOOT, COG, CAL, CPB, CRL, CVX, CINF, CNO, CMTL, CONN, GLW, COST, CR, CREE, CMI, CW, DDS, DFS, DRQ, EXP, EMR, EOG, EQT, EL, EXC, XOM, FOE, GME, GE, GNW, GGG, GFF, HSC, HAYN, HL, HSIC, HNI, JBHT, INCY, INOV, IIIN, INTC, IBKR, ISRG, IVC, NVTA, JKHY, JNJ, KMT, KFRC, KSS, LZB, LH, LAWS, LLY, MANH, MCHX, MDCA, MLHR, MS, MLI, MUR, MYGN, NOV, CNR, NCR, NFLX, NTGR, NXGN, NOC, NVDA, OUT, PKG, PKE, PATK, PTEN, PCG, PLXS, PPL, PINC, PFG, PGR, KWR, DGX, RMBS, REV, RLI, RCKY, RES, SAIA, SAIC, SEIC, SIGI, SRE, SHW, SLGN, SCCO, SWN, STMP, SSYS, SUM, TFX, TDC, TXN, TKR, RIG, TG, SLCA, UGI, UNM, VFC, VEEV, VRTX, VC, WSO, WERN, WMB, WSM, WWW, IYK, IYC, IYE, IEO, IEZ, DDM, FXI, IYZ, EWA, EWO, EWH, EIS, EZA, IBB, PPA, DBA, IXC, ILF, SSO, XLY, XLP, XLE, GLD, XRT, SPY, XAR, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Monday 5/10/21. Market Monday: The Week Ahead

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

My Prediction

An ascending broadening wedge appears highlighted in red on this chart. After the last bottom trendline touch, the index tried to reach the top trendline (A) but failed.

That attempt was called a partial rise. The index should have broken out downward (closed below the bottom red trendline) on the next approach to the bottom trendline. It dropped only to B, hence the failure.

The blue pattern, which looks black to me, is also an ascending broadening wedge. This one has only 4 touches instead of the required 5, so it's suspect (the red pattern has 6 touches).

If the blue pattern behaves like it's supposed to, look for it to breakout downward 52% of the time (which is about random, so don't count on it).

$ $ $

I received my second COVID-19 shot on Friday. Yippee! It's nice not to worry about whether I forgot to sanitize my hands or lingered too long in the company of others. If you haven't received your vaccination, it's safe. Over 140 million Americans received their shots. Isn't it about time you did, too?

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 162 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADTN, AA, ADS, AEO, AEL, AIG, AMGN, ANIK, ANTM, AAPL, ACGL, ADP, AVNT, AXS, BCPC, BZH, BIG, BMRN, BRC, BG, COG, CALM, CF, CLX, CNO, CTSH, CMCO, CLR, CR, CRH, CW, DHR, DDS, DRQ, EQT, EXC, XOM, FOE, FLEX, FLIR, FWRD, GOOGL, GES, HBI, HSC, HAYN, HTLD, HL, HSIC, HNI, HOV, INCY, NSP, INTC, TILE, JNJ, KFRC, KLAC, LHX, LH, LRCX, LLY, LMT, MHO, MRO, MLM, MTRX, MDC, MDT, MRK, MSFT, MLHR, MS, NOV, CNR, NKE, NI, NVDA, OXY, PKE, PTEN, PETS, PICO, PGR, KWR, DGX, RGS, RNG, RLI, ROK, ROST, RES, SKX, SCCO, SWN, SXI, TPR, TPX, TDC, TER, TXN, TMO, RIG, TG, TREX, UGI, UPS, VFC, WERN, WMB, IYE, IEO, IEZ, IHE, FXI, BOTZ, ICF, IYH, IHF, SOXX, EWA, EWZ, EEM, EWH, EWM, EWW, EPP, EWS, EZA, EWY, EWL, EWT, THD, TUR, EWU, PPA, PXJ, IEV, IXC, IXN, ILF, XLE, GLD, XLV, XHB, 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 5/7/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 127 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AXDX, AEIS, ALK, AA, AEO, AEL, AFG, AIG, ANTM, ATR, ADP, AVNT, AVA, AXS, BLL, BAX, BBBY, BBY, BKNG, BOOT, COG, CALM, CPB, CLS, CENX, CHS, CNO, CTSH, CMTL, CSOD, CCRN, DDS, DRQ, BOOM, EZPW, FB, FOE, FIVN, FLIR, FLS, GIS, GPRO, GGG, GFF, HAYN, HL, HSIC, HOV, HUBG, IDXX, ILMN, IBKR, JNJ, KLIC, RAMP, MTSI, M, MCHX, MRTN, MDC, MDCA, MLHR, MS, MYGN, NFLX, NTGR, NJR, NXGN, NI, NWPX, NVDA, OTEX, PDCO, PTEN, PYPL, PRFT, PETS, PPL, KWR, DGX, RGS, RGA, RNG, RLI, RES, SEIC, LUV, SSYS, TPX, TOL, TZOO, TREX, UNM, VEEV, WMT, IEZ, FXL, ICF, IHF, SLV, EWK, EWZ, EWQ, EWH, EZA, TUR, PBE, PXJ, ILF, MXI, GLD, USO. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

There were 20 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 577 stocks searched, or 3.5%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

I found 5 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 14 bullish chart patterns this week and 3 bearish ones with any remaining (8) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bullish (up) turn.

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

Thursday 5/6/21. 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 looks like a bump-and-run reversal, bottom. According to my book, Encyclopedia of Chart Patterns, 3rd edition, it ranks first out of 39 for performance.

The red portion is a descending scallop. The blue line is just a trendline sloping downward. The thinking is that when the composite closes above the blue line, it'll signal an upward breakout and the index will climb. As the chart shows, the index has been dropping for more than a week now, so this could continue lower.

$ $ $

Here's a symbol list of 236 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, ADBE, ADTN, AEIS, AMD, AES, AA, ADS, AYX, AMZN, DOX, AMED, AEO, AFG, AAPL, ARCB, ATO, AVNT, AVA, BCPC, BLL, BSET, BERY, BBY, BKNG, BOOT, EPAY, BRC, COG, CALM, CE, CX, CVX, CHS, CSCO, CLF, CGNX, CL, CONN, COP, COTY, CR, CREE, CRH, CMI, CW, DHR, DDS, DRQ, DTE, BOOM, EMN, WIRE, EQT, EXC, XOM, EZPW, FFIV, FDS, FDX, FOE, FIS, FIVN, FLS, FMC, FCX, FDP, GPS, GIS, GPN, GL, GS, GPRO, GES, HAYN, HON, HOV, HUBG, JBHT, ILMN, NSP, INTC, TILE, IPG, IPI, JAZZ, KFRC, KMB, LAMR, LANC, LEG, LEN, LNC, MTSI, M, MAN, MCHX, MRTN, MLHR, MS, MYGN, NBR, ^IXIC, NOV, NTAP, NWL, NEU, NEE, NI, NWPX, NVDA, OLN, OTEX, OUT, PTEN, PCG, PICO, PNW, PRU, PEG, DGX, RJF, RGA, RCKY, ROST, RES, CRM, SLB, SMG, SEE, SMTC, SWN, SSYS, SUM, SRDX, SNPS, TDOC, TKR, TOL, RIG, TZOO, TREX, SLCA, UNM, VMI, VEEV, VRSN, V, WLK, WEX, WDAY, XLNX, ZBRA, ITA, IYM, IAI, IYK, IYC, IYE, ITB, IHI, IEO, IEZ, IDU, DDM, FTEC, FDN, FXI, BOTZ, IAT, IYZ, IGV, IGE, EWO, EWZ, EWC, EWG, EIS, EWI, EWJ, EWM, EWS, EWP, EWU, QLD, IBB, PPA, DBA, PBE, PEJ, PXJ, QQQ, IXC, IXN, MXI, XLE, XLF, XLB, XLK, USO, 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 5/5/21. 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.

Much to my surprise, the CPI is still bullish, as if it ignored the 1.9% tumble in the Nasdaq. Of course, we're not looking at the Nasdaq on this chart. However, at A, you can see that even the S&P dropped today (Tuesday, 0.7%).

Anyway, I drew bearish divergence with the two red lines. One tilts upward and one downward. The divergence suggests a downward move is coming. Maybe it started today...

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 line took a big dip today, dropping from 9% to 13% of the stocks I follow turning bearish. That's a big jump.

The blue line also ticked lower from a week ago, but not so you'd notice on the chart.

This chart shows a worsening situation. The prior chart shows bearish divergence. The 2021 forecast update shows the markets declining until mid to late September. Maybe we're seeing the beginning of the decline. I have my doubts, though. I expect a drop but suspect this is a fake out. It's hard to believe the forecast that things will get bad (3,700 points lower, on the Nasdaq) before markets bottom. The good news is the forecast is rarely correct.

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Here's a symbol list of 160 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ADBE, ADTN, AEIS, AES, AA, ALKS, AYX, DOX, AMED, AEO, AFG, APH, APA, AAPL, AMAT, ARW, ATO, ADSK, AXS, BMI, BCPC, BZH, BERY, BA, BKNG, EPAY, COG, CDNS, CALM, CLS, CNP, CRL, CHKP, CSCO, CLF, CONN, CLGX, CR, CREE, CRH, CROX, DDS, DOV, DRQ, BOOM, EMR, EQT, FFIV, FICO, FLEX, FLIR, FTNT, IT, GPN, GOOGL, GGG, GFF, THG, HAYN, HUBG, ILMN, INFN, NSP, IBKR, NVTA, KALU, KLAC, LRCX, LAWS, LEG, LLY, MTSI, MCHX, MRTN, MLM, MU, MLHR, MOS, MYGN, NWL, NEE, NI, NWPX, NVDA, ASGN, OUT, PANW, PTEN, PETS, PCG, PINC, PEG, QCOM, DGX, RNG, RHI, RES, CRM, SEE, SMTC, SCS, SSYS, SNPS, TDOC, TER, TEVA, SLCA, VMI, VEEV, WLK, WDAY, XLNX, IHI, IEZ, FTEC, FDN, QTEC, FXL, BOTZ, IAT, IGV, SOXX, SLV, IGE, EEM, EWG, EWM, EWS, EWD, EWT, QLD, PBE, PEJ, PXJ, PJP, QQQ, PHO, ROBO, IXN, ILF, XLF, 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.

-- Thomas Bulkowski

Tuesday 5/4/21. Slider Trading Quiz!

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I show another slider trading quiz featuring Yellow Roadway: YELL (actual trade)

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Here's a symbol list of 110 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACN, ACIW, ADTN, AEIS, AES, ATSG, AIG, AMWD, AMGN, APH, ADM, AVNT, BMI, BZH, BBY, BOOT, BRC, BRKS, CDNS, CE, CENX, CNO, CL, CMTL, CCK, DDS, BOOM, EQT, RE, EXC, FICO, FFG, FLIR, FLS, FWRD, FDP, FRD, GME, GS, HTLD, HOV, HUBG, ILMN, NSP, NVTA, JBLU, KLAC, LMT, L, MHO, MTSI, MDC, MU, NOV, NJR, NWL, NEE, NXGN, NI, NWPX, NVDA, OMCL, OMC, PANW, PKE, PFE, PICO, PG, DGX, RNG, RCKY, SEE, NOW, SCCO, SWN, TPR, TGT, TDOC, TFX, TEVA, UPS, UNM, VMI, VEEV, VMC, WMT, WERN, XLNX, IYK, IYC, DDM, FXI, ICF, IHF, SLV, EWA, EWG, EWJ, EPP, EWS, EWD, EWT, QLD, PPA, PJP, QQQ, XLP. Clink this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

Monday 5/3/21. Market Monday: The Week Ahead

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

Forecast Update

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

Based on sector performance from Fidelity, the best performing sectors for year to date performance as of 30 April 2021 were... (The numbering is how they ranked a month ago.)

Here's how they rank the industries, but only the top 10 appear. Year to date returns. 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 92 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACIW, AEIS, AA, AEP, AON, APOG, ASH, ADSK, BCPC, BSET, BECN, BZH, BIO, BOOT, BRKS, CBT, CENX, CSCO, CLX, ED, XRAY, EXP, FDS, FICO, FISV, FIVN, FORM, FTNT, FWRD, GPS, GIS, GPRO, HLIT, HSC, HAYN, HOLX, DHI, IDXX, ILMN, INCY, INFN, INOV, IVC, KBH, KBAL, LB, LAMR, LMT, MDC, MDCA, MYGN, NTAP, NWL, NEE, NI, NVDA, OTEX, PATK, PYPL, PINC, PG, REV, CRM, SO, SCCO, SXI, SSYS, TPX, TRV, SLCA, UGI, VFC, VRTX, WEX, WMB, XLNX, IYK, IHI, FDN, EWM, EWY, XLP, XHB, 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

 

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