As of 12/26/2024   Indus: 43,326 +28.77 +0.1%     Trans: 16,104 +40.79 +0.3%     Utils: 992 -1.47 -0.1%     Nasdaq: 20,020 -10.77 -0.1%     S&P 500: 6,038 -2.45 0.0%	YTD  +15.0%    +1.3%    +12.5%    +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 12/24/24

As of 12/26/2024   Indus: 43,326 +28.77 +0.1%     Trans: 16,104 +40.79 +0.3%     Utils: 992 -1.47 -0.1%     Nasdaq: 20,020 -10.77 -0.1%     S&P 500: 6,038 -2.45 0.0%	YTD  +15.0%    +1.3%    +12.5%    +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 12/24/24

Wednesday 11/30/22. A Look At Indicators

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

The indicator has flipped from neutral to bearish to neutral over three days. It's as if the indicator can't make up its mind.

The indicator is at 53% today (Tuesday, after the close), which is neutral. I do see bearish divergence between the indicator and the index. It suggests the index is going lower. Clearly with the flip to neutral to bearish, it tried but failed to stay bearish.

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 shows improvement, according to the above statistics, but the improvements are minor.

The blue line hugs price and the red line is like the index on steroids. Both lines appear bullish this week (trending upward, that is).

The prior chart is neutral and this one is bullish but approaching overhead resistance. I don't know what will happen in the coming week. My gut tells me the index will rise, but I'm frequently wrong.

$ $ $

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: ANF, ADBE, ADTN, AEIS, ATSG, AYX, AMZN, AEP, AAPL, AMAT, AIZ, ATO, AZTA, BSET, BERY, BMRN, BOOT, BLDR, BG, CE, CLS, CENX, CF, CLX, COST, CCK, EL, RE, EVRG, FFIV, FAST, GL, GES, HBI, HSY, HNI, HD, DHI, HUBG, IBP, IBKR, KBH, KMT, KMB, KLIC, LH, LRCX, LDOS, LEN, RAMP, L, MTRN, MTRX, MU, MSFT, MS, NTGR, NEE, NUS, ORI, OMC, ASGN, OXM, PKE, PATK, PAYX, PINC, PHM, RJF, RGS, RCKY, SWX, TPR, TGT, TER, TEVA, TXN, TOL, TZOO, TG, VLO, VEEV, WRB, WLK, WEX, WSM, WOLF, ZBRA, ITA, IDU, FTEC, QTEC, FXL, FXI, SOXX, SLV, EWO, EEM, EIS, EWW, EPP, EWD, EWT, THD, PPA, PEJ, PHO, ROBO, IXN, SSO, MXI, XLB, SPY, XAR, XLK, XLU, SMH. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 11/29/22. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Teleflex (TFX) and Teco Energy (TE) (support and resistance).

$ $ $

Here's a symbol list of 101 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ADBE, AEIS, ALRM, ALB, AEP, APA, AAPL, ATR, ATO, ADSK, BERY, BIO, BG, CPB, CENX, CVX, CHS, CHD, CSCO, CLX, CGNX, CAG, COP, CCRN, CSGS, DECK, DVN, DRQ, DTE, EOG, FDS, FDP, IT, GIS, GFF, GES, HBI, THG, HLIT, HSC, HAYN, HTLD, HP, HSY, HD, HUBG, JBHT, IDA, IDXX, IIIN, IBKR, KBAL, LH, RAMP, MRO, MU, MS, MLI, MUR, NBR, NOV, NXGN, NOC, NWPX, OXY, OXM, PTEN, PYPL, PFG, RJF, RGA, RCKY, SAIA, SMG, SWX, TGT, TDOC, TSCO, RIG, TG, WRB, WLK, WSM, ITA, IEZ, EWK, EIS, EWY, THD, PPA, DBA, PXJ. 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 11/28/22. Market Monday: The Week Ahead

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

My Prediction

I show the S&P 500 index on the daily scale.

At AB, we see what I call an ugly double bottom. That pattern occurs when the right bottom is at least 5% above the left one. However, when we're talking about an index, I don't use the 5% rule.

The double bottom confirms as a valid chart pattern when the index closes above the peak between the two bottoms, shown here by a horizontal red line at C.

A throwback happens at D which brings the index back to the breakout price before it resumes its upward move.

At E, and the green line, I show overhead resistance setup by what looks like a tight knot of resistance. We'll have to see if the index turns lower or stalls there.

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.

Mutual funds will begin dividend distributions and rebalancing their portfolios for the approaching year end (starts in late November).

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: ABT, ANF, ACIW, AEIS, AES, ALB, DOX, AEE, APH, ATR, ATO, ADSK, BERY, BIG, BIO, BKH, BAH, BG, CALM, CPB, CNP, CENX, CRL, CHKP, CHS, CINF, CSCO, CLNE, CGNX, CAG, CRH, CCRN, CCK, DHR, DECK, XRAY, DSGR, ^DJU, D, DTE, DUK, EXP, EIX, EMR, EXC, FE, FISV, FMC, FWRD, FRD, IT, GIS, GNW, GPRO, HBI, THG, HLIT, HSC, HIG, HE, HAYN, HTLD, HD, HUBG, JBHT, IDXX, IPAR, ISRG, KBAL, LH, LRCX, LDOS, RAMP, LOW, MRO, MLM, MTRX, MDT, MGEE, MU, MS, MLI, NTAP, NWL, NEE, NOC, OGE, OXM, PYPL, PCG, POR, PPL, PFG, PEG, RL, RMBS, RGA, RCKY, SAIA, SMG, SLGN, SO, SWX, SR, TPR, TGT, TDOC, TSCO, TZOO, VRTX, VMC, WRB, WLK, WSM, XEL, ITA, IDU, IHF, EWK, EWG, EIS, EWJ, EWY, EWP, THD, TUR, EWU, PPA, PJP, IXC, MXI, XLY, GLD, XLU. Clink this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

Friday 11/25/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 123 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, AJRD, AES, ALB, AMWD, ADM, ATO, ADSK, AXS, AZTA, BERY, BIO, BMRN, BA, BFH, BMY, BG, CACI, CPB, CNP, CHS, CSCO, CLNE, CLX, CGNX, CAG, CRH, CCRN, CSGS, DHR, DECK, ^DJT, EIX, EPAM, RE, FDS, FAST, FIVN, FLEX, FLS, FWRD, GIS, GNW, HBI, HLIT, HAYN, HQY, HTLD, HUBG, JBHT, IDXX, IIIN, NVTA, KALU, KMB, LH, LRCX, RAMP, L, LOW, MCHX, MRTN, MU, MS, NBR, NTAP, NOC, OMCL, OXM, PYPL, PCG, PLXS, PFG, PGR, KWR, RGA, RCKY, SAIA, SMG, SO, SWX, SCS, TGT, TDOC, TKR, TREX, VRTX, WRB, WLK, WSM, XEL, ZBRA, ITA, IYM, ECH, EIS, EWJ, EWM, EZA, EWY, EWD, EWL, THD, TUR, EWU, PPA, IEV, ILF, MXI, 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.

$ $ $

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

Wednesday 11/23/22. A Look At Indicators

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

This is a chart of a bullish pattern. Last week, we saw bearish divergence which has disappeared. The thin blue line (CPI line) is now coincident instead of divergent.

What does this mean? The threat of a drop in the index appears to be over (the index didn't drop much in the past week, regardless of bearish divergence). The index is rising again.

The blue line is at or approaching the top reading of 100. So it's bullish.

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

The red line shows improvement, but the blue line is flat, compared to a week ago. The red line might encounter resistance but I don't know if that's meaningful because we're looking at the measure of stocks in bear market territory. Does such a measure have support and resistance zones? The chart suggests that yes, it does, based on prior peaks and valleys.

You can say the same for the blue line, showing support and resistance.

Combining the two charts, the CPI one is bullish. This chart is also bullish but hints of overhead resistance. If you're an Elliott waver, the CPI chart shows a motive wave where you see 5 steps (3 higher and 2 lower, 5 total) and we're in step 4 or maybe turning higher to step 5, the last stage before an ABC correction.

I don't claim to be a waver, so it's hard for me to judge, but my guess is the index is going to rise in the coming week.

$ $ $

Here's a symbol list of 192 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ANF, AJRD, AES, ALRM, ALB, AA, ALKS, DOX, AMED, AEO, AEP, AIG, ADM, ARW, ATO, ADSK, AVA, BCPC, BBY, BIO, BKH, BA, BOOT, BRC, BFH, BG, CPB, CE, CNP, CENX, CF, CHKP, CHS, CHD, CSCO, CLNE, CLF, CLX, CNO, CGNX, CL, CMTL, CAG, CONN, CLR, CCRN, CSGS, DHR, DECK, DOV, DRQ, BOOM, EXP, EMN, EIX, ELV, EMR, EQT, EXC, FFIV, FDS, FE, FLEX, FLS, FORM, FWRD, GPS, GE, GIS, GS, GFF, HBI, HLIT, HSC, HAYN, HTLD, HNI, HD, HOV, HUBG, JBHT, HURC, IDXX, INFN, NSP, ISRG, IVC, KALU, K, KMT, KBAL, KSS, LH, LRCX, LEG, RAMP, LOW, M, MAN, MLM, MDC, MRK, MU, MS, NFG, NTGR, JWN, NOC, OXM, PYPL, PCG, PNW, PPL, PFG, PRU, PHM, KWR, RGS, RGA, RCKY, SAIA, SCHW, SMG, SRE, SLGN, SWX, SCS, SRDX, TPR, TGT, TDOC, TPX, TDC, TER, TXN, TOL, TSCO, TZOO, TREX, VLO, WRB, WLK, WSM, ITA, IYM, IAI, IYK, IHE, IDU, FXI, SLV, IYF, EWK, EWC, ECH, EWH, EIS, EWY, EWP, THD, TUR, EWU, PPA, MXI, XLP, XLF, XHB, XLI, XLB, XRT, VAW. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 11/22/22. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Teleflex 2 (TFX) stock.

$ $ $

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: AXDX, ACN, ADBE, AKAM, ALRM, AYX, AMZN, AAPL, ADM, AGO, ADSK, AVY, AVNT, AXS, AZTA, BAX, BG, CDNS, CNP, CHS, CSCO, CLX, CTSH, CLR, XRAY, DTE, BOOM, EIX, EPAM, EXPD, FFIV, FDS, FE, FIVN, FTNT, GPS, GD, GL, GOOGL, GPRO, GFF, THG, HTLD, HELE, HUBG, INTU, KSS, LZB, LH, RAMP, L, MANH, MDT, MU, MS, MYGN, ^IXIC, NFLX, NEU, NEE, JWN, NWPX, OXY, ASGN, OUT, PKG, PANW, PYPL, PCG, PPG, PG, QCOM, RNG, RCKY, CRM, SEE, SHW, TDC, TXT, TJX, TREX, SLCA, WU, WOLF, WDAY, ZBRA, ITA, DDM, FDN, QTEC, QQQ, IGV, EWK, ECH, EIS, EWY, THD, QLD, PPA, XLY, GLD, XLI, UNG, VIS, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Monday 11/21/22. Market Monday: The Week Ahead

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

My Prediction

I show the Nasdaq composite on the daily scale.

There's not a lot to discuss on this chart. It shows an index struggling to find direction with a hint of an upward move, but no conviction yet.

Outlined in red is a broadening bottom chart pattern. That pattern has price making higher highs and lower lows so that two trends form, one moving higher and one moving lower, shown by their respective red lines.

At AB is what I call a ugly double bottom. That's when the second bottom is well above the first one. In stocks, I require (or suggest) the second bottom be at least 5% above the first one. With an index, such a large rise is unusual, so I don't require it.

The chart pattern confirms as a valid one when price closes above C, the highest peak between the two bottoms. It suggests an upward move in the index. What we're seeing now is a minor retrace.

That retrace may end with the index resuming the upward run or it could grow into a trend change. Given that the trend since point A is upward, it suggests this is just a normal retrace before an upward move and not a trend change from up to down.

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.

Mutual funds will begin dividend distributions and rebalancing their portfolios for the approaching year end (starts in late November).

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, ANF, ACN, ACIW, ADBE, AKAM, ALB, AYX, AMZN, AEE, AEO, AEP, ABC, AON, AAPL, ATO, ADSK, AVNT, AZTA, BSET, BAX, BKNG, BMY, BG, CAL, CNP, CHS, CHD, CSCO, CLNE, CTSH, ED, CONN, CR, CSGS, DECK, XRAY, DDS, ^DJU, BOOM, EMR, EPAM, RE, EVH, FICO, FIVN, FTNT, GPS, GD, GIS, GILD, GOOGL, GPRO, GFF, GES, HBI, HLIT, HIG, HTLD, HELE, HUBG, HURC, IDXX, IIIN, INTU, IVC, KFRC, KMB, KLAC, KSS, LH, RAMP, L, MANH, MAN, MRTN, MTRN, MRK, MGEE, MU, MS, MOS, MYGN, ^IXIC, NFLX, NI, JWN, OGE, ASGN, OUT, PANW, PATK, PYPL, PLXS, PPL, PEG, KWR, QCOM, RGS, RNG, RCKY, ROST, CRM, SMG, SEE, SIGI, SLGN, SO, SSYS, TECH, TDC, TXT, TZOO, TREX, VRSN, VRTX, WMT, WAT, WU, WOLF, WDAY, ZBRA, ITA, IYK, FDN, QTEC, QQQ, IYH, IHF, IGV, SLV, EWK, THD, EWU, QLD, PPA, XLY, XLP, XRT, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski

Friday 11/18/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 166 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, AXDX, ACN, ADBE, AKAM, ALRM, ALB, AYX, AMZN, DOX, AEL, AFG, AMGN, AAPL, ARCB, ADSK, AVNT, BAX, BBBY, BIIB, BMRN, BFH, BMY, BBW, BG, CBT, CE, CENX, CHS, CSCO, CLNE, CLX, CTSH, CMTL, XRAY, DVN, DDS, ^DJT, EMN, EPAM, RE, EZPW, FIS, FIVN, FORM, FTNT, FCX, GPN, GOOGL, GPRO, GGG, HTLD, HSII, HELE, HOV, HUBG, IDXX, INCY, IBP, INTU, IVC, NVTA, JKHY, JNJ, KELYA, KFRC, KSS, KLIC, LH, RAMP, L, LXU, M, MANH, MAN, MCHX, MTRN, MDT, MU, MS, MOS, MLI, MYGN, ^IXIC, NFG, NFLX, NWL, NKE, JWN, NVDA, OXY, OMCL, ASGN, OUT, PANW, PKE, PYPL, PFG, PGR, QCOM, RL, RNG, RHI, ROK, RCKY, CRM, SAIC, SMG, SEE, TDOC, TDC, TZOO, TREX, UNM, VLO, WU, WOLF, WWW, WDAY, ZBRA, ITA, IYM, IHE, DDM, FDN, QTEC, FXL, FXI, QQQ, IGV, IHI, EWK, EWG, EWH, EIS, EWJ, EPP, EWS, EZA, EWY, EWL, THD, TUR, EWU, QLD, PPA, PXJ, PJP, ROBO, IEV, ILF, XLY, XLB, VAW, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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 11/17/22. Intraday Market Direction: Nasdaq

My data provider was giving me too many errors to update my database, so I'll do it in the morning. Instead, here's the chart of the Nasdaq on the 5 minute scale for the last 10 days.

The only thing remarkable about this chart is that the index is resting on support, which I show here as a horizontal red line.

My guess is that the index will tumble through the line and plummet, maybe down to the gap at 10,800, or perhaps even lower. That may take more than a day, though.

It's also possible that the index will rebound and zip upward, bouncing off support. I just get the feeling that the index is weak and we'll see it drop through support.

-- Thomas Bulkowski

Wednesday 11/16/22. A Look At Indicators

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

I drew two brown trendlines connecting peaks and valleys to show bearish divergence. That happens when the index makes a higher peak and the indicator makes a lower peak.

The two trends diverge.

It suggests that the index is going to turn down, but divergence can linger for a long time (several months) before the turn-down actually happens.

Looking at the Dow industrials, we just had a minor retrace about 2 week ago, but we're stalling now at the price of the August high. It suggests a larger down turn is coming.

Having written that, you don't see that kind of overhead resistance on the S&P chart shown here. Yes, the retrace happened 2 weeks ago, but the index has been rising since.

So we might see the index claw its way to 4100 or maybe only 4050.

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

Both lines show improvement from the snapshot taken a week ago. I suppose you can claim that the red line is approaching a prior peak (resistance). You can also say the same about the blue line, so maybe resistance is hiding in the bush.

The two charts, taken together, suggest the index will rise for a few more days before stalling. The Dow industrials suggests the downturn will happen sooner. For all I know, the index might find new life and continue higher in a robust fashion, but I discount that. Today the Dow had a 650 point high low range with price closing lower than it opened. Maybe it'll continue and signal a significant retrace.

$ $ $

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: AXDX, ACN, ADBE, ADTN, AMD, AKAM, AYX, AMZN, DOX, AEO, AFG, ABC, AMGN, AAPL, AIZ, ADSK, AVNT, AZTA, BAX, BERY, BIG, BG, CALM, CLS, CNC, CHS, CTSH, ED, CONN, COTY, CSGS, XRAY, DVN, EPAM, RE, EVRG, FIVN, FTNT, GPS, GOOGL, GPRO, GFF, THG, HQY, HTLD, HL, HELE, HOLX, HUBG, JBHT, INCY, IBP, INTU, NVTA, JAZZ, KELYA, KSS, LH, RAMP, MHO, M, MANH, MAN, MTRN, MDC, MU, MS, MOS, MYGN, NFLX, NWL, NEU, JWN, OLN, ASGN, OUT, PANW, PYPL, PRFT, PG, KWR, QCOM, RGA, RNG, RLI, RCKY, CRM, SEE, SIGI, NOW, SHW, SKX, SRDX, TGT, TDC, TEVA, TJX, TRV, TREX, WRB, WMT, WU, WOLF, WDAY, ZBRA, ITA, IHE, FDN, QTEC, FXL, FXI, QQQ, ICF, IGV, EEM, EWH, EPP, EWS, EWT, THD, TUR, QLD, PPA, PJP, ILF, XLY, XRT, 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.

-- Thomas Bulkowski

Tuesday 11/15/22. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Teco Energy (TE) stock.

$ $ $

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: AXDX, AYI, ADTN, AES, APD, ALL, DOX, AEE, AFG, AAPL, ASH, AGO, AVNT, AXS, BMI, BIO, BIIB, BMY, BLDR, BG, CHS, CNA, COST, CR, CROX, CSGS, CMI, DHR, D, EZPW, FFIV, FE, HLIT, HTLD, HL, HURC, IDA, ILMN, INCY, NSP, JKHY, JAZZ, K, LHX, LH, LANC, L, M, MAN, MRTN, MTRN, MS, MLI, NJR, NOC, OLN, PANW, PDCO, PFE, PLXS, RCKY, ROG, LUV, SRDX, TSCO, TZOO, SLCA, UGI, UNM, VRSN, V, WRB, WERN, WMB, ITA, IHE, FXI, IYH, EWH, EWS, THD, TUR, PPA, PJP. 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 11/14/22. Market Monday: The Week Ahead

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

My Prediction

I show the Dow industrials on the daily scale.

Chart pattern AB forms a double bottom. It confirms as a valid chart pattern when the index closes above the peak between the two bottoms. That means it closes above line C.

The move after confirmation was a nice one. It exceeded the price target (which is the height of the pattern added to the price of C).

Overhead, we see resistance setup by the prior peak. I show that peak with line D.

My view, and it's just a guess, is that the index will struggle to rise too much higher. It could continue to move up strongly because there's a measured move up (located almost midway between C and D). That pattern says the second leg should almost match the length of the first leg. See the link for details about what I'm talking about. If the pattern is correct, then we'll see a rise to oh, 36,500.

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.

Mutual funds will begin dividend distributions and rebalancing their portfolios for the approaching year end (starts in late November).

Here's a symbol list of 175 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYI, ADTN, AEE, AFG, AON, APA, AAPL, ARCB, AGO, AVNT, AXS, BMI, BSET, BIO, BKNG, BMY, BLDR, BG, CACI, CALM, CE, CENX, CF, CHKP, CVX, CHS, CNA, CGNX, CL, GLW, COTY, CRH, CROX, CSGS, CW, DHR, DDS, ^DJT, D, DRQ, DUK, EXP, EMN, WIRE, EL, EZPW, FDS, FICO, FE, FLS, FWRD, FCX, GIS, HBI, HLIT, HSC, HQY, HTLD, HP, HUBG, JBHT, IDA, IDXX, NSP, NVTA, JKHY, KALU, K, KFRC, KBAL, KLIC, LH, LANC, L, LXU, M, MANH, MAN, MRO, MRTN, MCO, MS, NBR, NOV, NCR, NJR, NKE, OLN, PKE, PFE, PLXS, PPG, KWR, RLI, RCKY, ROG, SLB, SEE, SKX, SCCO, LUV, SXI, TFX, TMO, TSCO, RIG, UNM, VFC, VLO, VMI, VRSN, WLK, ITA, IYM, IAI, IYC, IYE, IEZ, FXI, BOTZ, IYH, IAT, IGE, IEO, IYF, EWA, EWO, EWK, EWC, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWW, EPP, EWS, EWY, EWD, EWL, EWT, THD, PPA, PEJ, PXJ, ROBO, IEV, IXC, MXI, XLE, XLF, XLB, UNG, VAW. Clink this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

Friday 11/11/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 370 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ABT, ANF, ACN, AYI, ADBE, ADTN, AEIS, AMD, APD, ALRM, ALK, AA, ALKS, AYX, AMZN, DOX, AEP, AEL, AXP, AIG, APH, AON, APOG, AAPL, AMAT, ATR, ARCB, AWI, ARW, AIZ, AGO, ADSK, ADP, AVY, AVNT, AZTA, BALL, BSET, BAX, BECN, BZH, BBBY, BERY, BBY, BIG, BIO, BA, BKNG, BOOT, BRC, BFH, BMY, BBW, BLDR, BG, CBT, CDNS, CALM, CAL, CE, CLS, CNP, CENX, CRL, CHKP, CVX, CHS, CIEN, CINF, CLNE, CNO, CGNX, CL, CMCO, CMTL, CONN, CLR, GLW, COST, COTY, CROX, CSGS, CW, DHR, XRAY, DDS, DFS, ^DJI, D, DOV, DRQ, EXP, EMN, EBAY, WIRE, EPAM, EFX, EQT, EL, EVRG, EZPW, FICO, FAST, FDX, FISV, FIVN, FLS, FORM, FWRD, GME, IT, GE, GIS, GS, GPRO, GGG, GES, THG, HLIT, HE, HELE, HP, HSIC, HSY, HNI, HOLX, HD, DHI, HOV, IEX, IDXX, ITW, ILMN, NSP, IIIN, ITGR, INTC, IPG, IPI, ISRG, NVTA, JKHY, KALU, KBH, K, KELYA, KBAL, KMB, KLAC, KLIC, LZB, LH, LRCX, LEG, LEN, RAMP, L, LOW, MHO, M, MANH, MAN, MRO, MCHX, MRTN, MLM, MAS, MA, MDT, META, MU, MSFT, MLKN, MCO, MS, MLI, MYGN, NBR, ^IXIC, NFG, NOV, NCR, NTGR, NTAP, NEU, NEE, NVDA, OLN, ASGN, OTEX, OUT, OMI, OXM, PATK, PDCO, PAYX, PYPL, PRFT, PETS, PCG, PNW, PLXS, PPG, PG, PEG, PHM, KWR, QCOM, DGX, RNG, RHI, ROK, RCKY, ROST, ^GSPC, SAIA, CRM, SMG, SEE, SEIC, SMTC, NOW, SHW, SKX, SCCO, LUV, SWN, SR, SXI, SCS, SUM, SRDX, SNPS, TECH, TDOC, TPX, TER, TXN, TXT, TJX, TOL, TSCO, TREX, UGI, VFC, VEEV, VRSN, VC, VMC, WAT, WSO, WERN, WEX, WSM, WOLF, WWW, WDAY, XEL, ZBRA, ITA, IYM, IAI, IYC, ITB, IEZ, IDU, DDM, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, ICF, IAT, IYZ, SOXX, IYF, EWA, EWO, EWK, EWZ, EWC, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWM, EPP, EWS, EZA, EWY, EWP, EWD, EWL, EWT, THD, TUR, EWU, QLD, IBB, PPA, PBE, PEJ, PJP, PHO, ROBO, IEV, IXC, IXN, SSO, MXI, XLY, XLF, GLD, XHB, XLI, XLB, XRT, SPY, XAR, XLK, SMH, VIS, VAW, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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 11/10/22. Bitcoin Plummets!

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

$ $ $

Bitcoin (BTC-USD) has melted down. Why? We'll explore that in a moment.

The chart shows an irregular shape, which I've outlined in red (A). The chart pattern this forms is called a descending scallop. Those breakout 78% downward and that's what we see here.

Now let's talk about the drop at B. It's a steep one but why did it happen?

The crypto currency world this year has struggled. A number of crypto firms (at least 4 by my count) have gone out of business recently. Layoffs in the industry have amounted to thousands. Worse, people who invested in cryptocurrency in those bankrupt firm are not protected by insurance from the FDIC or SIPC. The exchanges may have their own insurance, but if not, then you could lose your investment. People have been cashing in their holdings.

Yesterday, one of the biggest crypto exchanges, FTX faced a wave of investors withdrawing $6 billion of assets from the exchange. This caused a liquidity crisis (not enough cash to pay for the redemptions).

Binance (the largest crypto exchange) said they'd buy the FTX yesterday but changed their mind today after looking at the books.

This kind of turmoil has forced down cryptocurrencies, such as bitcoin (down about 25% in 5 days). You can see how the coin has reacted to this news (B). Few want to own BTC any longer and are selling, hoping to cash out before their exchange goes belly up, too.

$ $ $

Here's a symbol list of 98 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, ACN, ADTN, AES, AFL, AKAM, DOX, AEO, AXP, AAPL, ASH, ADSK, AVY, BAX, BIG, BIO, BIIB, BA, BBW, BLDR, BG, CBT, CACI, CALM, CHD, CIEN, CAG, CR, CROX, CCRN, CSGS, DHR, DDS, D, WIRE, EZPW, FICO, FISV, FORM, GE, GES, HLIT, HSIC, HON, HOV, ILMN, IVC, NVTA, JKHY, JNJ, K, LLY, RAMP, L, MHO, M, MDT, MRK, META, MLKN, MS, OXY, OTEX, OUT, PTEN, PNW, DGX, NOW, LUV, SXI, TDOC, TJX, TSCO, TRV, VRSN, VRTX, WWW, IYE, ITB, IHE, FTEC, FXI, IGE, EWO, EIS, EWY, EWP, PEJ, PXJ, 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 11/9/22. A Look At Indicators

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

The CPI, shown here by the vertical green line on the far right of the chart, is solidly bullish. The CPI line, the thin blue one, appears to have lost strength from the peak in late October compared to where it is today.

It looks like the index could continue higher.

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).

When I looked at this chart, I noticed some divergence. Notice that the index at A is below the valley at B, but the blue indicator line makes a low at B and a higher low at A. I show that with the two red lines plus another slightly-up-sloping red line near the bottom of the chart.

We can see that the index climbed after the divergence. The question now becomes, what happens next?

Some indices look like they've had an extended run and should retrace soon. These two charts are bullish and we don't see that kind of run upward. With republicans slated to take over both branches of congress in today's elections, the market will love that. So I look for more of a move up before we see a retrace.

$ $ $

Here's a symbol list of 133 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACN, ADTN, AES, AKAM, ALB, DOX, AEL, ABC, AMGN, AMN, AAPL, AWI, ASH, ADSK, AVY, AZTA, BMI, BSET, BIO, BA, BBW, BLDR, BG, CBT, CALM, CLS, CENX, CNO, CAG, COST, CR, CROX, CCK, CSGS, DHR, DFS, D, EMN, WIRE, EZPW, FDS, FICO, FISV, FIVN, FORM, GME, GE, GNW, GES, HLIT, HAYN, HQY, HSY, HON, HOV, ILMN, IPG, IVC, NVTA, JKHY, K, KLIC, L, LXU, MHO, M, MCHX, MDC, MS, MLI, MYGN, NTAP, ORI, OTEX, OUT, PKG, PETS, PFE, PNW, DGX, RJF, ROST, RES, SMG, SEE, NOW, SLGN, LUV, SWX, SXI, TPR, TDOC, TMO, TJX, TSCO, VRSN, V, WEX, IYM, ITB, FTEC, FXL, FXI, IYZ, EWO, EIS, EWJ, EWW, EWY, EWD, EWL, EWT, THD, PBE, PEJ, PJP, IXN, XLB, XLK, VAW. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 11/8/22. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Swift Transportation: SWFT (actual trade).

$ $ $

Here's a symbol list of 91 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ALRM, AA, DOX, AEP, ABC, AMGN, AMAT, ARW, ATO, BCPC, BSET, BIG, BIIB, BKH, BMY, BG, CNP, CVX, CMTL, CMI, DECK, ^DJU, D, DTE, EMR, WIRE, EQT, EVRG, EZPW, FLS, GL, GS, HE, HQY, HON, HOV, IEX, IDXX, ITW, NVTA, KLAC, KSS, LXU, M, MTRX, NKE, NI, OGE, PKG, PNW, POR, PFG, PRU, DGX, RGS, ROST, SLB, SRE, SKX, LUV, SWN, SXI, SUM, TPX, TMO, VMI, XEL, IHE, IDU, SLV, EWO, EWK, EWQ, EWG, EWH, EWI, EWJ, EWW, EZA, EWY, TUR, XLU, UNG. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Monday 11/7/22. Market Monday: The Week Ahead

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

My Prediction

I show the Dow transports on the daily scale.

At AB is an Eve & Adam double bottom. It confirms as a valid chart pattern when the index closes above red line C. The index makes a nice climb after.

More recently, we see the index climbing higher in a channel formed with two parallel lines. The transports broke out upward from the channel and then returned to it, as if the upward momentum had disappeared.

The index has lifted back out of the channel now, so it looks set to move higher, but it'll have to push through the knot of resistance immediately to the left of where it's at now.

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.

Mutual funds will begin dividend distributions and rebalancing their portfolios for the approaching year end (starts in late November).

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: DDD, ADBE, ADTN, APD, AA, AMED, AFG, AMN, AAPL, AMAT, ADM, AWI, AIZ, AZTA, BAX, BIG, BKH, BAH, CNC, CENX, CHD, CMTL, GLW, CR, CROX, CCRN, BOOM, EMN, WIRE, EOG, EQT, EL, EZPW, FDS, FISV, FLS, FCX, GE, GS, GPRO, HTLD, HL, HOV, ITW, INFN, IPAR, TILE, INTU, NVTA, JKHY, K, KLIC, LHX, LRCX, LAMR, LNC, RAMP, MTSI, M, MA, MU, MSFT, NFG, NOV, OLN, PANW, PGR, PRU, DGX, RGS, RGA, ROK, ROG, SKX, SCCO, LUV, SWN, SXI, SNPS, TFX, TDC, TER, TSCO, VRSN, V, VC, WERN, WEX, IHF, IGV, SOXX, SLV, EWZ, ECH, EEM, EWH, EWJ, EWW, EZA, EWY, EWT, THD, TUR, ILF, USO, 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 11/4/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 121 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADBE, ADTN, AJRD, DOX, AEO, AEP, ABC, ANIK, APA, ADM, AWI, AIZ, ADP, AZTA, BALL, BAX, BIG, BIO, BIIB, BKNG, BMY, CDNS, CX, CVX, CMTL, CRH, CROX, CCK, CW, DSGR, EMR, WIRE, EQT, EVRG, EZPW, FFIV, FIS, FMC, FORM, FTNT, GE, GNW, GILD, GPN, GOOGL, HSII, HELE, HP, HON, HOV, ITW, INFN, IPI, IVC, NVTA, JKHY, KLIC, LHX, LANC, LNC, LMT, LXU, MTSI, M, MRO, MAS, META, MOS, NOV, NTGR, NJR, NWL, NEU, NEE, NUS, OLN, OTEX, OUT, PKG, PYPL, PPL, PRU, DGX, RJF, RGS, RCKY, ROG, SLB, SMG, SEE, SRE, LUV, SWN, SXI, TPR, TXN, RIG, VLO, VEEV, VRSN, VMC, WSM, IEZ, FTEC, FDN, FXI, IEO, EWO, EWG, EWM, EZA, PBE, PEJ, PXJ, PJP, GLD, XLK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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 11/3/22. Intraday Market Direction: Nasdaq

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

$ $ $

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

There's not a lot to say about this chart. On the far left is a small head-and-shoulders bottom chart pattern (SHS).

In the middle of the chart is a pair of double tops, BC and DE. They confirm as valid chart patterns when the index closed below the horizontal red line. The BC top didn't see price fall far enough to be a valuable trade. DE did better.

Point A shows a pullback to just above the DE neckline (the red line) before the FED announcement of an interest rate cut pulled the floor out from under the index. Down it went.

What happens next? I don't have an idea, based on this chart (it doesn't show enough history). I expect a bounce. The index is resting on support so I expect a recovery. For all I know, the index could continue lower, though.

$ $ $

Here's a symbol list of 119 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, ADTN, ALKS, AMED, AEL, AAPL, ADSK, ADP, AVA, AZTA, BCPC, BALL, BIG, BIIB, BA, BBW, CENX, CINF, CLX, CGNX, CMTL, CR, CSGS, XRAY, WIRE, EPAM, EFX, EQT, EL, EZPW, FFIV, FAST, FDX, GNW, GPRO, THG, HE, HAYN, HTLD, HELE, HOV, ITW, INFN, IBP, IIIN, ITGR, IVC, NVTA, JAZZ, KMT, KFRC, KBAL, KLIC, LHX, LH, LAMR, RAMP, LXU, MTSI, M, MTRN, MYGN, NJR, NEU, NOC, NWPX, OMCL, PANW, PPG, PINC, PRU, PEG, PHM, DGX, RGA, RLI, RCKY, ROG, ROST, SAIA, CRM, SEE, SIGI, NOW, SWN, SXI, SRDX, TDOC, TXN, TMO, UNM, VRTX, WMB, WSM, WDAY, ZBRA, IYC, DDM, FDN, IGV, EWH, EIS, EWM, EWW, EZA, PBE, PJP, PHO, XLV, USO, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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 11/2/22. A Look At Indicators

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

Yesterday, I covered the CPI in the 2022 forecast update. In this chart, we see the CPI line continuing to drop. The indicator is still bullish, but I expect it to turn neutral before going bearish.

However, tomorrow the FED meets and we've seen the markets rises after the meeting as if they markets are saying "Whew! It's over."

One can argue that once a pattern is established it'll cease to work. That could mean the markets will drop tomorrow.

In other words, the markets can go either way.

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 are more bullish this week compared to a week ago. My feeling is that the uptrend will continue but evidence for that is thin.

The two charts shows diverging trends. The CPI chart shows growing weakness. This chart is bullish, however, one could argue that a retrace is overdue.

Let's wait for tomorrow's (Wednesday's) close to see what the indices do. If we see a big spike upward, I would expect a retrace of that move. A down move might be lasting, so that the markets will move sideways.

$ $ $

Here's a symbol list of 111 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AYI, AJRD, AMED, AEL, AAPL, ACGL, BCPC, BALL, BIG, BIIB, BKNG, BOOT, CX, CRL, CINF, CLF, CMTL, CCK, CSGS, DDS, DRQ, WIRE, EPAM, EFX, EQT, RE, EZPW, FFIV, FDX, FRD, IT, THG, HSC, HE, HELE, HOLX, DHI, HOV, IDA, IDXX, ITW, INCY, INFN, IBP, IIIN, NVTA, KALU, LHX, LDOS, M, MANH, MAS, MUR, MYGN, NWL, NEU, NOC, OMCL, PATK, PFE, PGR, PHM, KWR, DGX, RMBS, RGS, RGA, ROST, CRM, SEE, SIGI, SWN, SXI, SCS, SSYS, TECH, TDOC, TFX, SLCA, UNM, WSM, IEZ, DDM, BOTZ, IGV, IGE, EWJ, EWW, EPP, EWS, EZA, EWY, EWL, EWU, PPA, PBE, PHO, XLV, UNG, VHT. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

Tuesday 11/1/22. 2022 Forecast Update

$ $ $

Here's the updated 2022 forecast, presented in slider format.

Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 28 October 2022 were... (The numbering is how they ranked a month ago.)

The folks at two firms polled by Fidelity weigh the sectors in this order, as of 10/28/22.

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 10/28/22. The numbering is how they ranked a month ago.

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Here's a symbol list of 72 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, ALB, ALKS, AMAT, AZTA, BALL, CAL, CLF, CAG, CSGS, WIRE, EOG, EXC, EZPW, FISV, FMC, FRD, GGG, HBI, HSC, HOLX, HD, ITW, ILMN, INFN, NSP, IVC, K, LRCX, LDOS, LLY, LXU, M, MLM, MTRN, MUR, NBR, NUS, OXY, PLXS, PPG, DGX, RGS, RES, SEIC, SKX, SXI, TER, RIG, SLCA, VMC, WSO, WOLF, IYE, IEZ, FXI, SOXX, SLV, IGE, EWZ, EWH, EZA, PXJ, IXC, ILF, XLE, XLV, 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.

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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