As of 12/24/2024   Indus: 43,297 +390.08 +0.9%     Trans: 16,063 +127.24 +0.8%     Utils: 993 +4.93 +0.5%     Nasdaq: 20,031 +266.24 +1.3%     S&P 500: 6,040 +65.97 +1.1%	YTD  +14.9%    +1.0%    +12.7%    +33.4%    +26.6%	Targets    Overview: 12/12/2024     44,200 or 41,750 by 01/01/2025   16,700 or 15,500 by 01/15/2025   1,050 or 975 by 01/01/2025   20,500 or 19,300 by 01/01/2025   6,100 or 5,775 by 01/01/2025
Chart Pattern Indicator: on 12/5/24

As of 12/24/2024   Indus: 43,297 +390.08 +0.9%     Trans: 16,063 +127.24 +0.8%     Utils: 993 +4.93 +0.5%     Nasdaq: 20,031 +266.24 +1.3%     S&P 500: 6,040 +65.97 +1.1%	YTD  +14.9%    +1.0%    +12.7%    +33.4%    +26.6%
Targets    Overview: 12/12/2024     44,200 or 41,750 by 01/01/2025   16,700 or 15,500 by 01/15/2025   1,050 or 975 by 01/01/2025   20,500 or 19,300 by 01/01/2025   6,100 or 5,775 by 01/01/2025
Chart Pattern Indicator: on 12/5/24

Wednesday 5/31/23. 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 is bearish and it's been that way for about two weeks and yet price has climbed over that time (in the index).

It suggests the index will turn lower, but I'm not so sure. If congress raises the debt ceiling, I think we'll get a lift. Of course, if congress doesn't do their job, then the index could tumble.

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 are worse this week compared to last week. Since mid April, the red line has eased lower, suggesting weakness.

Both charts are weak or bearish this week but the final direction rests with congress and the debt limit.

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Here's a symbol list of 181 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AYI, ADTN, AEIS, AFL, ATSG, AKAM, ALKS, ALGT, AMWD, AR, APOG, AAPL, ARCB, AWI, ADP, BALL, BIG, BMRN, BSX, BRC, BCO, BMY, BR, BRKR, CALM, CLS, CX, CNC, CNP, CENX, CDAY, CVX, CHS, CGNX, CL, CSGP, CROX, CMI, XRAY, FANG, DRQ, BOOM, ELV, EOG, EPAM, EVH, XOM, FRD, GIS, GNW, GILD, HE, HAYN, HSII, IDA, INFN, IBKR, INTU, K, KELYA, KMB, LAMR, M, MAN, MAS, MA, MDT, MGEE, MLKN, MOS, NBR, NOV, NCR, NFLX, NJR, NEE, NKE, NOVT, NTNX, NVDA, OMI, OXM, PATK, PTEN, PRFT, PETS, PFE, PCG, PINC, PG, PSTG, KWR, QCOM, RRC, RNG, RLI, RHI, RES, R, SBH, SEIC, SIGI, SWX, SWN, SR, SPSC, SCS, SNPS, TPR, TRGP, TTD, TOL, VECO, V, WERN, WU, WEX, WPM, WWW, WDAY, IYK, IYE, IEZ, IHE, IDU, FTEC, BOTZ, IXC, IGE, IEO, IHI, EWZ, EWC, ECH, EWH, EIS, EWM, EWW, EWS, EZA, EWY, TUR, IBB, PBE, PEJ, PXJ, PJP, ROBO, XLE, SPY, XLK, XLU, UNG, USO, VAW. Click 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 5/30/23. Slider Trading Quiz! Vulcan Materials: VMC

$ $ $

I show another slider trading quiz featuring Vulcan materials: VMC stock.

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Here's a symbol list of 151 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AXDX, ACN, AEIS, AMD, ATSG, AYX, DOX, AEE, AEP, ANIK, ATR, ACGL, ANET, ADP, AVY, AVA, AZTA, BMI, BAX, BIG, BMRN, BKH, BSX, BMY, CBT, CDNS, CAL, CNC, CENX, CHS, CIEN, CI, CLNE, CNA, CNO, CTSH, CMCO, ED, CR, ^DJU, ^DJT, ^DJI, D, DUK, ELV, WIRE, EPAM, EXC, FDX, FIVN, FRD, GILD, GFS, GS, GOOGL, GPRO, HBI, THG, HAYN, HELE, INCY, TILE, JAZZ, K, KMT, LH, MGY, MCHX, MA, MTDR, MDC, MDT, MGEE, MS, MYGN, NBR, JWN, NTNX, NVDA, OMCL, OMI, OXM, PTEN, PFE, PXD, PPL, PEG, RRC, RNG, ROG, RES, CRM, SIGI, SCI, SKYW, SMAR, SO, SWN, TXN, TRV, TREX, TWLO, VMI, WMB, WDAY, IAI, IYC, ITB, IHE, FDN, QTEC, FXL, BOTZ, IHF, IGV, IXN, ILF, SOXX, SLV, IEO, EWZ, EEM, EWH, EIS, EWM, EPP, EWS, EZA, EWT, DBA, PJP, GLD, XRT, SPY, SMH. Click 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

Friday 5/26/23. Pattern Trading Setups for the Weekend.

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Here's a symbol list of 228 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ABM, AYI, AEIS, AMD, AFL, ALRM, AA, AYX, DOX, AEE, AEO, AEP, AMWD, AMGN, APH, ARCB, ANET, ARW, ATO, ADP, AVA, AXS, AZTA, BMI, BALL, BAX, BECN, BIIB, BMRN, BKH, BKNG, BAH, BFH, BMY, BG, CACI, CALM, CAL, CE, CLS, CNC, CENX, CI, CINF, CSCO, CLNE, CNA, CL, ED, CONN, COST, COTY, DECK, XRAY, DSGR, ^DJU, D, DOV, DTE, DUK, ECL, ELV, WIRE, EPAM, EFX, EVRG, EVH, EXC, EXPI, FIS, FIVN, FLEX, FLS, FNV, GIS, GFS, GL, GPRO, GES, THG, HE, HL, HUM, HURC, INTC, IBKR, TILE, IPG, INTU, IRM, JAZZ, K, LHX, LZB, LNC, RAMP, L, MCHX, MAS, MTRN, MDT, MRCY, MGEE, MU, MSFT, MLKN, MYGN, NWPX, NUS, NTNX, OXY, ORI, OMC, OMI, PATK, PDCO, PAYX, PCTY, PNW, PXD, PPG, PPL, PINC, PG, PEG, PSTG, QTWO, DGX, RJF, RGS, RHI, RCKY, CRM, SLB, SCHW, SAIC, SEIC, SHOP, STR, SKYW, SO, SWN, TGT, TDOC, TEVA, TXT, TJX, TOL, TRV, TWLO, WERN, WU, WEX, WPM, WWW, XEL, ITA, IYM, IAI, IYK, IYC, IHE, FXI, BOTZ, ICF, IYH, IHF, IYZ, IEV, MXI, SLV, IHI, EWA, EWO, EWK, EWC, ECH, EWH, EWI, EWJ, EWM, EPP, EWS, EZA, EWP, EWD, TUR, EWU, IBB, PPA, DBA, PBE, PEJ, PXJ, PJP, XLP, GLD, XLV, XLB, XRT, XAR, VHT, VIS, VAW. Click 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 5/25/23. 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 the Nasdaq composite on the 5-minute scale.

There's not much to discuss on this pic. AB is a double top chart pattern that confirms when the index drops below C, the red line highlighting the valley between the two peaks.

After that, the index drops, just as it's supposed to after confirmation of a bearish chart pattern.

The two s's are potential shoulders of a complex head-and-shoulders top. I didn't think it was well-shaped, so I don't think it's a valid pattern.

Based only on this picture and disregarding debt ceiling news, it looks like the index is resting on support. And that's bullish. So I'd expect a recovery in the days ahead. If we consider the debt ceiling, then who knows what will happen? I've seen estimates of a 17% to 20% drop in the indices if we default. I think it'll be worse, though. And if we pass it, we could see a nice pop, maybe 10%.

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Here's a symbol list of 232 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, ABM, ACIW, AYI, AFL, A, AA, ALKS, ALL, AEP, AFG, AMWD, AME, AMGN, AMAT, ARCB, ADM, ANET, AWI, ASH, AGO, AVY, AVA, BMI, BAX, BIO, BIIB, BMRN, BOOT, BAH, BMY, BRKR, CDNS, CALM, CE, CNC, CENX, CF, CHS, CSCO, CNA, ED, CAG, CONN, COST, COTY, CRH, XRAY, ^DJT, D, DOV, EMR, EPAM, EL, EVH, FARO, FIS, FIVN, FLS, FNV, FCX, GFS, GL, GS, GPRO, THG, HL, HSIC, HWM, IDA, ILMN, NSP, IPAR, TILE, IRM, JBLU, KMB, KLAC, LZB, LRCX, LEN, L, LPLA, MTSI, MANH, MCHX, MLM, MAS, MA, MTRN, MDC, MRCY, META, MGEE, MLKN, MYGN, NWL, NEU, NOVT, NVDA, OXY, ORI, OMC, ON, OR, OUT, OMI, OXM, PANW, PETS, PNW, PXD, PPG, PG, KWR, QCOM, RJF, ROK, ROL, ROP, ROST, RGLD, ^GSPC, SBH, SEIC, SCI, SLGN, STR, SKX, SCCO, SWN, SXI, SCS, SUM, SRDX, TPR, TGT, TECH, TDY, TFX, TER, TEVA, TXT, TJX, TSCO, TRV, TZOO, TREX, TWLO, VMI, VEEV, V, WRB, WMT, WAT, WU, WEX, WPM, WWW, WDAY, ITA, IYM, IYK, IYC, ITB, IHE, IDU, QTEC, FXI, ICF, IYH, IYZ, IEV, MXI, SLV, IHI, EWA, EWO, EWK, EWC, EEM, EWQ, EWG, EWH, EWI, EWJ, EWM, EPP, EWS, EWP, EWD, EWL, EWT, TUR, EWU, PPA, PEJ, PHO, SSO, XLP, XLF, GLD, XLV, XHB, XLI, XLB, XRT, SPY, XLU, SMH, VIS, VAW. Click 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 5/24/23. 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 CPI has turned bearish with a 30 reading. That's well above 0, the lowest it can go, so we just ventured into bearish territory as if dipping a toe to test the water's temperature.

Today's drop is a reflection of the markets growing concern about the debt ceiling talks. The longer this goes on, the more volatile the markets are likely to be. However, I'm looking at this as a buying opportunity. With the growth in interest rates, the housing market has taken off. I'd like to expand my holdings there and add to soxx, a semiconductor ETF. Both are expensive now and for all I know, they might not drop far enough to warrant a buy. I'm actually hoping to see a nice market correction here...

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 show improvement over what we saw a week ago. That's odd because the CPI is dropping even as the red line is climbing. You can see the red line gathering strength for the last two weeks or so.

With more negotiating on the debt ceiling to come, I think the CPI is the correct chart. It's warning of a downturn.

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Here's a symbol list of 114 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, APD, ALB, ALKS, ALL, AEE, AIG, AAPL, ANET, AGO, BAX, BBY, BIIB, BLDR, CNC, CENX, CVX, CL, CMTL, ED, CONN, COST, COTY, XRAY, DVN, BOOM, EIX, EPAM, EL, EVH, EXC, FIVN, FNV, FCX, GPS, GD, GILD, GFS, GPRO, HOLX, IEX, IIIN, ITGR, INTC, TILE, KBH, K, KBAL, LZB, LAMR, LDOS, LLY, LNC, MCHX, MRTN, MLKN, MYGN, NJR, NKE, OMI, PATK, PCTY, PETS, PG, PHM, RJF, REGN, RLI, ROL, RGLD, SBH, SCHW, SCI, STR, SKYW, SCCO, SWN, TECH, TOL, TSCO, TWLO, SLCA, VEEV, WU, WPM, IYM, IYK, QTEC, ICF, IAT, MXI, IHI, EWK, EWG, EWH, EIS, EWM, EWS, EWD, PBE, PXJ, XLP, XLB, USO. Click 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 5/23/23. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring UIL Holdings: UIL stock.

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Here's a symbol list of 137 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ADBE, AMD, APD, ALKS, AYX, AMZN, AEE, ABC, AMN, APH, ASH, AGO, AZTA, BZH, BERY, BIIB, BRC, BMY, BBW, BLDR, CE, CNC, CENX, CLNE, CLF, CTSH, CL, CMTL, ED, CAG, CONN, COST, CROX, CCRN, DECK, EIX, EFX, EVH, EXPI, FDX, FLEX, GD, GE, GILD, GFS, HTLD, HD, DHI, IDA, ITGR, IPAR, KALU, KBH, K, KEYS, KLIC, LZB, LEN, LLY, MCHX, MAS, META, MGEE, MCO, MUR, NKE, OMCL, PPG, PG, PHM, QTWO, KWR, REGN, RGS, RNG, RGLD, SAND, SLB, SEIC, SMTC, STR, SKX, SMAR, LUV, SWX, SPLK, TPR, TECH, TDY, TXN, TTD, TZOO, TREX, SLCA, VLO, MDRX, VRTX, WSO, WWW, ITB, IEZ, FTEC, FDN, QTEC, FXL, BOTZ, QQQ, IXN, ILF, SOXX, SLV, IHI, EWO, EWJ, EWM, EWY, QLD, PBE, PXJ, XLP, XHB, XRT, XLK. Click 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 5/22/23. Market Monday: The Week Ahead

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

My Prediction

Highlighted in red is a broadening bottom chart pattern. This one acted as a reversal pattern, reversing the downward trend to up.

SHS is a head-and-shoulders top chart pattern. It looks weird because the right shoulder is well below the left. At A, the pattern changes from being squiggles on a price chart to an actual chart pattern. The index makes a strong downward push thereafter.

To me, I think the index has reached support and you'll see it climb over the next week. Alternatively, this might only be the midway point of a strong push lower.

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New research: Is gold a good investment?

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A Brief Look Back

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

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 180 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ABM, ACIW, AJRD, ATSG, AA, ALGT, ALL, AMZN, DOX, AEL, ABC, APH, APOG, AAPL, ACGL, ANET, ASH, AIZ, AGO, AVNT, AVA, AXS, BMI, BCPC, BSET, BZH, BERY, BA, BAH, BRC, BR, BBW, BLDR, CHS, CSCO, CLNE, CLF, CNA, CL, ED, CONN, COP, CXW, COTY, CROX, DECK, DVN, DSGR, ^DJT, DOV, BOOM, EIX, EVH, EXC, EZPW, FFIV, FDX, GD, GPN, GFF, THG, HTLD, HNI, HD, DHI, HUN, IBP, IPAR, TILE, JKHY, KALU, KBH, KBAL, KSS, LHX, LZB, LANC, LDOS, LEN, LMT, LXU, MHO, MTSI, MGY, MAN, MAS, META, MLKN, NEE, NKE, OGE, ASGN, OXM, PATK, PDCO, PFE, PNW, PLXS, POR, PPG, PG, PHM, QTWO, RGLD, ^GSPC, SAND, SLB, SAIC, SEIC, SRE, NOW, SO, LUV, SWN, SXI, TPR, TECH, TXT, TMO, TKR, TDG, TZOO, TREX, VLO, VEEV, VC, WU, WLK, WMB, WWD, ITA, IAI, ITB, IDU, BOTZ, IAT, IXN, IHI, EWO, EWG, EIS, EWW, EWY, EWT, TUR, PEJ, ROBO, XHB, XRT, SPY, XAR. Click 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 5/19/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 131 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AJRD, AMZN, AMGN, ARCB, AGO, AVA, BIO, BOOT, BMY, CENX, CRL, CLNE, CNX, CL, CMTL, ED, CSGP, DSGR, D, EIX, EQT, EVRG, EVH, EXPD, EZPW, FICO, FE, FIVN, FORM, FTNT, FDP, GME, GIS, GFF, HIG, HTLD, HP, HOLX, JBHT, HURC, IDA, IIIN, PODD, IPG, LEN, LXU, MHO, MTSI, MCHX, MTRX, META, MGEE, MCO, NFLX, NVDA, ORI, OTEX, OR, PANW, PDCO, PETS, POR, PPG, PPL, PG, QTWO, QCOM, RMBS, RNG, RGLD, ^GSPC, SAND, NOW, SHW, SMAR, SO, SCCO, SWN, SNPS, TPR, TECH, TXN, TZOO, TREX, VLO, VRSN, V, WMT, WLK, WPM, IDU, FTEC, FXL, BOTZ, ICF, IGV, MXI, IXN, IHI, EWH, EWM, EZA, EWT, TUR, DBA, PEJ, PHO, XLY, XLP, GLD, XLI, XLB, SPY, XLU, SMH, MGK. Click 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 5/18/23. Cryptocurrency Ethereum

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 Ethereum on the daily scale.

The first thing I notice is that the cryptocurrency follows a trendline. I show that on the chart with a red line.

The measure rule for trendlines is that the height of the move above the trendline will mirror the drop below the trendline, and vice versa.

I show how successful it was with blue lines A and B. I hand drew these so they are approximate. Before you get too excited, notice that the drop at C wasn't met by a corresponding rise at A.

In other words, this doesn't work as well as we hope.

$ $ $

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: ABM, AEIS, AJRD, ALK, ALGT, AMED, AMGN, AMAT, AWI, AGO, AVA, BECN, BBY, BIO, BKH, BSX, BFH, CHS, CLNE, CNO, CL, ED, CONN, COP, GLW, CSGS, DDS, ^DJT, ECL, EIX, EOG, EFX, RE, EVRG, EXPD, EZPW, FICO, FARO, FE, FTNT, FRD, GPS, GIS, GS, GPRO, HBI, HLIT, HIG, HOLX, HON, DHI, HWM, IDA, IDXX, ITW, ILMN, PODD, INTC, IPAR, IBKR, JNJ, KALU, K, KMT, KEYS, LMT, L, LXU, MHO, MAN, MRO, MTDR, MDT, MRK, MGEE, MS, NXGN, NKE, JWN, NOC, PDCO, PPG, PFG, PG, PGR, PRU, QTWO, RL, ROP, RGLD, ^GSPC, CRM, SAND, SLB, SIGI, SCCO, SPLK, TPR, TGT, TECH, TSCO, TREX, VLO, WERN, WLK, WMB, WSM, XEL, IYC, IHE, IDU, DDM, QTEC, BOTZ, ICF, IYH, MXI, SLV, IYF, IHI, EWO, EEM, EWH, EIS, EWM, EWS, EWY, EWL, EWT, THD, PPA, PEJ, SSO, XLE, XLF, GLD, XLI, SPY, XAR, XLU, VHT. Click 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 5/17/23. 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, if you believe the chart, after being neutral for about two weeks. Does this mean the index will tumble?

Because the index is near the top of the chart, at overhead resistance, it suggests the index will drop.

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 marginally lower (worse) readings from a week ago. The red line has been trending lower for a month now. Often a trend in motion continues in the same direction.

Together with the prior chart, it seems reasonable to assume the index will drop further.

$ $ $

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: AMD, AJRD, AFL, AMGN, APA, AMAT, ATR, AWI, AGO, ATO, AVY, AVNT, BZH, CBT, CDNS, CPB, CI, CLNE, CLF, CL, ED, CSGS, CW, DSGR, DOV, DUK, EIX, EL, EVRG, EXPD, EZPW, FIVN, FLS, FORM, FTNT, FDP, FRD, GMS, HNI, HD, DHI, HURC, IDA, ILMN, NSP, PODD, IBKR, TILE, IRM, JKHY, KMT, LDOS, LLY, LMT, MHO, MGY, MCHX, MKTX, MTDR, MDC, MGEE, NOV, NTGR, NEE, NKE, NI, NOC, NWPX, OXY, OGE, PETS, POR, PFG, PG, PEG, QTWO, RRC, RGLD, CRM, SAND, SEIC, SIGI, SCI, SHW, SWN, SSYS, TPR, TJX, TSCO, TREX, VLO, WERN, WLK, WSM, XEL, IHE, IDU, BOTZ, ICF, IYH, IHF, IXC, ILF, SLV, IHI, EWZ, EWD, THD, PJP, XLP, GLD, XLU, USO, VHT. Click 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 5/16/23. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Walmart: WMT stock.

$ $ $

Here's a symbol list of 109 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AMD, ALB, AEO, AEP, AEL, AMWD, ABC, AMN, ARCB, ACGL, ATO, AVA, BKH, BLDR, CDNS, CPB, CNP, CTAS, CLX, CNA, CNX, CL, ED, CCRN, CSGS, DSGR, D, DUK, EXC, FICO, FORM, FTNT, GME, HTLD, HSY, HNI, IDA, PODD, IPG, JKHY, KMB, L, MTRN, MTRX, MLKN, ^IXIC, NJR, NEWR, NKE, NI, NWPX, OGE, PKE, POR, PG, PEG, RMBS, RGS, RES, SCHW, SEIC, SMAR, SO, SWN, SR, SCS, TPR, TFX, TDC, TJX, TREX, UNH, WERN, WMB, WDAY, XEL, IHE, FXI, BOTZ, ILF, IHI, EWO, ECH, EEM, EIS, EWM, EPP, EZA, EWY, EWT, DBA, USO. Click 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 5/15/23. Market Monday: The Week Ahead. Bearish

• 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.

There's not a lot going on in this chart so I had to search for something to write about.

AB is a Adam & Adam double top. The Adam part means the peak is slender and tall. In this case, both peaks are that shape. Performance differs from Adam patterns and Eve (wide) and the combinations of Adam and Eve.

Price drops fast to a valley in December, fulfilling the measure rule target or nearly so. That's the height of the pattern subtracted from the price of the valley between the two peaks. It's not magical. It does NOT mean that price will drop that far. But it does allow us to calculate the probability of the index reaching the target.

The pattern circled in blue may look like a head-and-shoulders bottom but it's too weird looking for me to actually log it as one.

The same can be said of the red circle. Here we may have a diamond top. Again, it's too strange for it to qualify as one.

The red area is a congestion region. My guess is we'll see a drop out of that region simply because we've hit overhead resistance setup by the February peak..

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 148 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ACN, AMD, AFL, ATSG, AKAM, ALK, ALB, AEP, AEL, AXP, AMWD, ACGL, BALL, BECN, BZH, BMRN, BKNG, BRKR, BLDR, CALM, CNP, CNA, CNX, CL, CMTL, CROX, CCRN, DHR, XRAY, ^DJT, D, DRQ, EXPI, FORM, FTNT, FDP, GME, IT, GE, GPN, GL, GS, HTLD, HL, HSY, HNI, HURC, NSP, INTC, IPG, IPI, ISRG, JKHY, JAZZ, KELYA, LNC, LXU, MHO, MANH, MCHX, MA, MTRN, MTRX, MSFT, MLKN, MUR, NBR, ^IXIC, NJR, NEWR, NWL, NKE, NUS, NTNX, OLN, PATK, PDCO, PXD, PFG, PG, PRU, DGX, RMBS, RJF, RGS, R, SLB, SMG, SMTC, SHW, SSYS, SRDX, TDY, TJX, TOL, TRV, TREX, MDRX, VMC, WU, IAI, IYK, IYC, ITB, IHE, FXL, FXI, BOTZ, QQQ, IYH, SLV, IGE, IYF, IHI, EWA, EWK, ECH, EWH, EWJ, EWM, EWS, EWD, THD, QLD, ROBO, ILF, SSO, MXI, XLY, XLP, XHB, XLB, XRT, SPY, UNG, MGK. Click 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 5/12/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 146 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABM, AYI, AMD, AJRD, ALRM, ALK, ALB, DOX, AEE, AEL, AMWD, ABC, APOG, ANET, BERY, BSX, CPB, CNP, CRL, CINF, CTAS, CSCO, CNA, CNX, CL, CMTL, ED, CRH, CCRN, CSGS, CTS, DHR, FANG, ^DJT, D, DOV, DRQ, EMN, EIX, EMR, EOG, EZPW, FIS, FLEX, FLS, FORM, FTNT, FCX, GME, GOOGL, GPRO, HIG, HAYN, HTLD, HL, HNI, HOLX, HOV, NSP, IBKR, IPG, NVTA, JKHY, JNJ, KBH, KEYS, LXU, MHO, MCHX, MTRN, MTRX, MOS, MLI, NBR, ^IXIC, NTAP, NEWR, NXGN, NKE, OLN, OUT, PKI, PFE, PFG, PG, PEG, DGX, RMBS, RGS, RGA, ROK, R, SLB, SMG, SHOP, SCCO, SRDX, TPR, TECH, TEVA, TSCO, TZOO, TG, TREX, UIS, VRSN, VC, WU, WMB, WSM, ITA, IEZ, FXL, BOTZ, SLV, IGE, IHI, EWO, EWG, EIS, EWI, EWM, EPP, EZA, EWY, EWT, EWU, IXC, MXI, XLB, XLU. Click 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 5/11/23. Slider Trading Quiz

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

$ $ $

Bigcharts.com apparently is down, so I'm showing a quiz instead of the intraday chart.

$ $ $

I show another slider trading quiz featuring Waters Corp: WAT stock.

$ $ $

Here's a symbol list of 183 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AYI, AMD, ALK, ALB, ALGT, AMZN, AEL, AXP, AFG, AMWD, ADM, AGO, BERY, BIO, BMRN, BA, BOOT, BCO, BR, BRKR, CE, CNP, CENX, CVX, CINF, CTAS, CLNE, CLF, CNA, CNX, CL, CMTL, CAG, CONN, CXW, CCRN, CMI, DECK, FANG, DDS, DFS, ^DJT, D, DOV, DTE, EMN, ELV, EMR, EOG, XOM, EZPW, FIS, FISV, FLS, FORM, FTNT, FCX, GME, GE, GL, GOOGL, GES, HIG, HTLD, HL, HP, HNI, HOLX, HUM, HUN, IDA, IBKR, TILE, IPG, JKHY, KALU, LLY, RAMP, LPLA, LXU, M, MCHX, MKTX, MTRN, MTRX, MLKN, MS, MUR, NBR, ^IXIC, NFG, NTAP, NEWR, NEE, NXGN, NKE, NI, OLN, OMCL, PTEN, PYPL, PXD, PFG, PG, RL, RMBS, RRC, REGN, RGS, ROK, ROG, ROST, R, SBH, SMG, SHOP, SMAR, SCCO, LUV, SWN, SPSC, SRDX, SNPS, TPR, TECH, TPX, TKR, TJX, TG, TREX, UPS, UNH, VFC, VEEV, WMT, WU, WLK, WEX, WMB, WSM, ITA, IYE, IEZ, QTEC, BOTZ, IAT, IGV, SLV, IGE, IHI, EWO, EWK, EIS, EWW, EZA, PBE, PEJ, PJP, ILF, SSO, MXI, XLP, XLE, XLF, XLB. Click 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 5/10/23. A Look At Indicators

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

The indicator has turned from bearish to neutral. That's an improvement, but is it enough?

No. Why not?

Because the debt ceiling fight will roil the markets in the weeks to come. So I don't put much importance on the improvement

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 show no improvement this week compared to a week ago. It's as if the indicators are waiting for a new development.

The two charts show a waiting pattern. Call it neutral with a hint of bullishness (from the CPI chart).

Again, my worry is that the debt ceiling will crater the markets.

$ $ $

Here's a symbol list of 148 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, AMD, A, ALB, AA, AEO, AEP, AEL, AMWD, ABC, AMN, APH, ANIK, ANET, ASH, AVNT, AVA, BIG, BIO, BMRN, BRKR, BG, CBT, CALM, CPB, CE, CX, CNP, CENX, CRL, CIEN, CSCO, CLNE, CNA, CNX, CTSH, CL, CMCO, CMTL, CONN, COTY, CCRN, CCK, CMI, DECK, DRQ, ELV, EME, EMR, EQT, EVH, FMC, FORM, FTNT, GME, GPN, GFS, GOOGL, GPRO, HBI, HE, HQY, HTLD, HSIC, HNI, HUM, HUN, IIIN, TILE, IPG, JKHY, KALU, KFRC, KBAL, LXU, MHO, MTSI, MCHX, MLM, MTRN, MTRX, MOS, MLI, NEWR, OTEX, OMI, OXM, PANW, PKE, PYPL, PETS, PG, RMBS, RRC, RGS, RLI, RHI, ROG, CRM, SLB, SMG, SIGI, SCI, SKYW, SCCO, SRDX, TECH, TMO, RIG, TREX, SLCA, UNH, WAT, WERN, WLK, WMB, WSM, WSC, IAT, IYZ, IHI, EWZ, EWJ, EWM, EZA, EWL, THD, PJP, ILF, SSO, XLP, USO. Click 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 5/9/23. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring TXU: TXU stock.

$ $ $

Here's a symbol list of 140 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABM, ADTN, AES, ATSG, ALGT, AEL, APH, ASH, ADP, BSET, BAX, BIG, BIO, BA, BKNG, BOOT, BRC, BRKR, BBW, BLDR, BG, CBT, CACI, CALM, CAL, CNP, CTSH, CL, CMCO, COTY, CCK, CMI, DOV, BOOM, EME, EMR, EPAM, FARO, FMC, FTNT, FRD, GPS, GE, GILD, HSC, HSII, HON, HUM, HURC, ITW, ILMN, IBP, IBKR, TILE, IPG, NVTA, K, KELYA, KBAL, LDOS, LLY, LMT, MANH, MCHX, MRCY, MGEE, MOS, MUR, ^IXIC, NOV, NXGN, NOC, NWPX, OXY, OMC, OTEX, OMI, PANW, PCTY, PKI, PETS, POR, PG, RL, RTX, RGS, RLI, RHI, ROK, ROG, CRM, SCHW, SAIC, SIGI, SRE, SKYW, SCCO, SRDX, TPR, TRGP, TEVA, TXT, TKR, RIG, TWLO, UIS, UPS, VMI, VMC, WERN, WLK, WMB, WSM, ITA, FXI, IAT, IHI, EWO, EWC, ECH, EWM, EWS, EWL, THD, IBB, PXJ, USO. Click 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 5/8/23. Market Monday: The Week Ahead

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

My Prediction

At point A, we see the index launch upward in a powerful move higher. Then it consolidates and forms a broadening top chart pattern.

After the broadening top ends, notice that price returns to the launch price at B. I see this behavior (where A and B are about equal, often with B slightly above A) most often with diamond tops.

More recently, we see what I call an inverted roof. It looks like a head-and-shoulders bottom except that price enters the pattern from the bottom and not the top. Often with the IRoof, you'll see uneven shoulders (minor lows) so that it doesn't resemble a head-and-shoulders at all. That's the best case. This roof looks like a H&S variation, and not really a new type of chart pattern.

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 149 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACN, AEIS, AMD, ATSG, ALL, APOG, ATR, ANET, AXS, AZTA, BSET, BAX, BRKR, CALM, CPB, CLS, CX, CNP, CHKP, CTAS, CLF, CNX, CL, COTY, CRH, DDS, DFS, DSGR, ^DJI, DOV, DTE, EME, EPAM, FIS, FISV, FORM, FTV, FCX, GME, GILD, GMS, GS, GES, HSC, HAYN, HSII, HSY, HNI, HUM, HUN, IEX, INFN, IIIN, PODD, TILE, IPI, NVTA, KLAC, LH, LRCX, LNC, MAN, MA, MTRX, MDT, MGEE, MS, MLI, ^IXIC, NOV, NCR, NXGN, NKE, JWN, OGE, OTEX, OUT, OMI, OXM, PDCO, PTEN, PCTY, PKI, PLXS, POR, PG, QTWO, RL, RMBS, RNG, RLI, SAIC, SIGI, SO, SWX, SPLK, SXI, SRDX, TPR, TRGP, TGT, TDC, TRV, TG, UHAL, UNM, VFC, VLO, VECO, VC, WMT, WU, WEX, WSC, WOLF, IYC, IDU, QTEC, BOTZ, IHI, EWK, EWC, EWG, EWJ, EWM, EWP, TUR, PEJ, PXJ, PHO, ROBO, XRT, XAR, XLU, SMH, VIS, MGK. Click 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 5/5/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 193 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYI, ADBE, AFL, APD, ATSG, AEO, AXP, ANIK, APA, APOG, ASH, ATO, ADSK, AVNT, AXS, AZTA, BALL, BAX, BERY, BA, BKNG, BSX, BFH, BCO, CNP, CHS, CI, CNO, CTSH, CL, CMCO, CMTL, CAG, GLW, CR, CRH, CCK, DDS, DFS, DSGR, ^DJT, ^DJI, EPAM, EQT, EVH, FARO, FORM, FTNT, FWRD, FCX, FRD, GNW, GILD, GS, GES, HSC, HQY, HSII, HNI, HOLX, HUM, IEX, IDXX, INCY, INFN, ITGR, IPG, IPI, NVTA, JKHY, JNJ, KELYA, KMB, KSS, LH, LEG, LNC, LPLA, MTSI, MGY, MAN, MCHX, MRTN, MLM, MTDR, MDC, MLKN, MS, MOS, NEWR, NXGN, NKE, NWPX, OGE, ASGN, OTEX, OUT, OMI, PKE, PATK, PDCO, PXD, PLXS, PPG, PFG, PG, PRU, QTWO, QCOM, DGX, RJF, RTX, RGS, RGA, RLI, RCKY, ROP, ^GSPC, SBH, SCHW, SAIC, SMG, SEIC, SIGI, SRE, SMTC, SWN, SUM, TPR, TRGP, TDY, TXT, TMO, TKR, TZOO, UPS, UNM, VMC, WSM, WOLF, WWW, XEL, ITA, IAI, IYC, IEZ, IDU, DDM, IHF, IAT, IYZ, IGE, IYF, IHI, EWQ, EWI, EWJ, PPA, DBA, PBE, PEJ, PXJ, PJP, IXC, SSO, MXI, XLF, XLB, SPY, XAR, XLU, UNG. Click 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 5/4/23. Cryptocurrency Bitcoin Review

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 bitcoin (BTC-USD) on the daily scale.

At point A is a chart pattern called a broadening top. The breakout is upward 60% of the time and that's what we see here. A breakout occurs when price closes either above the top or below the bottom of the chart pattern.

After the breakout, the currency has struggled to move higher. To me, that suggests the coin could drop, but that's just a guess. Sometimes, it means it's gathering strength before a strong push higher. I'd be cautious, though. This could develop into a trap (bearish top trap).

$ $ $

Here's a symbol list of 200 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, ATSG, AKAM, AA, ALL, AXP, AFG, ABC, AME, AR, AAPL, AMAT, ADM, ANET, ASH, AIZ, AVY, AXS, AZTA, BMI, BAX, BZH, BERY, BA, BKNG, BSX, BCO, BR, BBW, BLDR, CDNS, CE, CNP, CVX, CHS, CIEN, CTAS, CSCO, CLF, CNO, CL, CMTL, CAG, GLW, CRH, DVN, FANG, DDS, ^DJI, EXP, EMN, EIX, EMR, EQT, EL, XOM, FDS, FMC, FCX, FDP, FRD, GD, GNW, GILD, GS, GES, THG, HAYN, HQY, HUM, ITW, INCY, INFN, PODD, INTU, NVTA, IRM, JNJ, KMB, KSS, LAMR, LLY, LOW, LPLA, MHO, MCHX, MTDR, MRCY, MLKN, MCO, MS, MOS, MUR, NXGN, JWN, OXY, OMC, OMI, OXM, PKE, PTEN, PPG, PG, PRU, PHM, QTWO, KWR, RJF, RTX, RLI, RCKY, ROP, ^GSPC, CRM, SAIC, SMG, SEE, SEIC, SCI, STR, SKX, SMAR, SWN, SSYS, TXT, TKR, TSCO, TRV, TZOO, UGI, UIS, UNM, VEEV, VRSN, VC, WAT, WU, WOLF, XEL, ITA, IYM, IAI, IYE, ITB, DDM, FXI, IYZ, IGV, SOXX, IGE, IEO, IYF, IHI, EWA, EWO, EWC, EEM, EWH, EWI, EPP, EWS, EWL, TUR, PXJ, ROBO, IXC, SSO, MXI, XLE, XLF, XHB, SPY, XLK, UNG, USO. Click 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 5/3/23. A Look At Indicators

$ $ $

A quick note: Within the next month, until the politicians see fit to raise the US debt limit, expect large swings in the market. If they don't agree, the market is going to crash.

You might want to view this as an opportunity to buy the dip on large down moves. If they don't agree on a limit, then I don't know how far we'll drop, but it's going to be breathtaking. In 1987, we dropped 22% in one session, 31% in three sessions. So maybe a third, 33% this time.

$ $ $

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

Notice that the indicator has turned bearish and that's not good news. Of course, large swings in the market push the CPI around. The indicator can change for up to a week, but as the above note indicates, this month is going to be bumpy.

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 marginal improvement over a week ago, but I think that's a fluke. The thin red line shows a lower peak even as price makes a new high. The thicker red lines show the bearish divergence between the indicator and the index.

So even though the numbers above are positive, this development is bearish.

Both charts are either bearish or hinting of being bearish. So expect the market to drop or continue lower.

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Here's a symbol list of 148 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, ATSG, ALB, AEO, AEP, AME, AR, AAPL, ADM, ATO, ADSK, BAX, BKH, BCO, BR, CDNS, CNP, CVX, CLNE, CTSH, CL, COST, CRH, DVN, DFS, D, DTE, EIX, ELV, FLS, FORM, FDP, FRD, GPS, GNW, GILD, HBI, THG, HAYN, HQY, HSIC, HOV, HUM, HURC, IBKR, INTU, NVTA, JNJ, KSS, LZB, LEN, LOW, MTSI, MRO, MCHX, MKTX, MTDR, META, MLKN, MS, MUR, NCR, NFLX, NTAP, NXGN, NI, JWN, NWPX, OXY, OGE, PTEN, PRFT, PNW, PG, PEG, QTWO, RL, RJF, REGN, RNG, RLI, RCKY, CRM, SEE, STR, SO, SWN, SSYS, SNPS, TPR, TECH, TSCO, RIG, UHAL, UGI, VFC, VEEV, VC, WSM, WWD, WDAY, XEL, ITA, IYE, IEZ, IDU, IYZ, IGV, SOXX, IGE, IEO, IHI, EIS, EWI, EWJ, EWP, TUR, PXJ, IXC, ILF, MXI, XLE, XLF, XRT, XLK, XLU, UNG, USO. Click 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 5/2/23. Slider Trading Quiz! Watsco: WSO

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I show another slider trading quiz featuring Watsco: WSO stock.

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Here's a symbol list of 96 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AEIS, ALB, ALKS, ALL, AYX, AMED, AEL, AXP, AFG, AAPL, ADSK, AZTA, BAX, BECN, BOOT, BCO, BBW, CLS, CNP, CF, CHKP, CL, CMTL, COST, CROX, BOOM, ELV, EZPW, FE, FIVN, FCX, GPS, GGG, GFF, HLIT, HAYN, HSIC, HSY, HURC, INCY, PODD, IBKR, IPG, IPI, KFRC, LANC, LDOS, L, LXU, MHO, MDC, META, MS, MOS, NTAP, NXGN, NOVT, NVDA, OXM, PPL, PG, RL, RGS, RCKY, ROP, SBH, SO, TDC, UGI, VFC, VMI, VEEV, VC, WWW, FTEC, FXL, IYZ, IHI, EWA, EWO, EWZ, EIS, TUR, GLD, XRT, XLK, SMH. Click 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 5/1/23. 2023 Forecast Update

Here's the updated 2023 forecast, presented in slider format.

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Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 4/28/2023 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 4/21/23.

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 4/27/23. The numbering is how they ranked a month ago.

Here's a symbol list of 108 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AJRD, ALL, AYX, AMED, AEL, AMWD, ANIK, AAPL, ARW, ASH, AVY, BAX, BZH, BMY, BBW, BLDR, CBT, CPB, CLS, CNP, CF, CLNE, CL, CXW, GLW, COTY, XRAY, FANG, DSGR, DRQ, ELV, FARO, FDX, FE, FCX, GFF, HLIT, HOLX, HWM, HUBG, HUN, INTC, TILE, KFRC, LPLA, MAS, MA, MTRX, MDC, MU, MYGN, ^IXIC, NTGR, NTAP, NWL, NEE, NXGN, OMI, OXM, PKG, PEN, PG, PGR, PHM, DGX, REGN, RGS, RCKY, ROG, ROP, SMAR, TDY, TOL, TSCO, TZOO, SLCA, UNH, VRSN, WRB, WU, WMB, WWW, IYK, ITB, IEZ, IYH, IGE, IHI, EWZ, EWW, EWS, EWT, TUR. Click 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