As of 11/27/2024   Indus: 44,722 -138.25 -0.3%     Trans: 17,609 -88.01 -0.5%     Utils: 1,079 -0.58 -0.1%     Nasdaq: 19,060 -113.82 -0.6%     S&P 500: 5,999 -22.89 -0.4%	YTD  +18.7%    +10.8%    +22.4%    +27.0%    +25.8%	Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,200 or 1,000 by 12/01/2024   20,000 or 18,400 by 12/01/2024   6,100 or 5,800 by 12/01/2024
Chart Pattern Indicator: on 11/20/24

As of 11/27/2024   Indus: 44,722 -138.25 -0.3%     Trans: 17,609 -88.01 -0.5%     Utils: 1,079 -0.58 -0.1%     Nasdaq: 19,060 -113.82 -0.6%     S&P 500: 5,999 -22.89 -0.4%	YTD  +18.7%    +10.8%    +22.4%    +27.0%    +25.8%
Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,200 or 1,000 by 12/01/2024   20,000 or 18,400 by 12/01/2024   6,100 or 5,800 by 12/01/2024
Chart Pattern Indicator: on 11/20/24

Friday 11/29/24. Pattern Trading Setups for the Weekend.

Here's a symbol list of 25 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANET, ARW, AVY, BA, BCO, BRKR, CPB, CNC, CLF, CAG, CCRN, FMC, GIS, HOV, IBP, IPG, JBLU, MRK, MU, OMC, ON, TECH, WAT, WOLF, PBE. 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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Wednesday 11/27/24. A Look at the Chart Pattern Indicator (CPI)

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 last CPI signal (far right) is a green bar, which is bullish.

If you look back to the circled area in April, that could serve as a blueprint for what could happen. The circled area has a number of white bars (neutral) followed by a bullish signal. That's the same configuration we have now. After the green bar, the index climbed for about three weeks. It suggests another two weeks of "up" remaining.

When I've done this kind of analysis in the past using the CPI, I don't think it worked.

Here's the same chart without the signals. This shows bullish divergence where the CPI has a higher peak but the index is flat.

However, the index could continue rising, making divergence nonexistent.

What does all of this mean? It suggests the index is going to continue rising.

$ $ $

Here's a symbol list of 132 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AMD, A, AKAM, APH, AON, AAPL, ATR, ANET, ARW, ASH, AVY, BAX, BBY, BA, BCO, BR, BRKR, CPB, CNC, CINF, CTAS, CLF, CNA, CMTL, ED, CAG, CXW, CCRN, CCK, CSGS, CTS, DVN, ^DJU, DOV, EBAY, ELV, EL, EXPD, FICO, FIS, FLEX, FMC, GME, GIS, GILD, GGG, HOLX, HOV, HUM, IDA, IDXX, IBP, IPG, JAZZ, JBLU, K, KSS, KLIC, LPLA, MKTX, MRTN, MTDR, MRK, MRCY, MU, MS, NBR, NOV, NTGR, NTAP, NKE, NOVT, OXY, OMC, ON, PCG, PLXS, POR, PG, KWR, RMBS, RNG, SLB, SCHW, SAIC, SRE, SMTC, SMAR, SCCO, TECH, TFX, TXN, TG, VLO, VECO, V, WAT, WERN, WOLF, WWD, IYE, IEZ, QTEC, FXI, IXC, IEO, IYF, IHI, EWK, EWW, EWS, EZA, PBE, PXJ, PHO, XLY, XLP. 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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Tuesday 11/26/24. Slider Trading Quiz!

$ $ $

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

$ $ $

Here's a symbol list of 272 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ANF, ACIW, AYI, AEIS, APD, ALRM, ALGT, AMZN, DOX, AXP, AMWD, APH, APOG, AAPL, ATR, ARCB, ANET, AWI, ARW, ASH, AVY, AVNT, AXS, BCPC, BALL, BZH, BERY, BBY, BAH, BSX, BRC, BCO, BR, BBW, CBT, CAL, CX, CNC, CDAY, CRL, CI, CINF, CNO, CNX, CGNX, CMCO, CMTL, CXW, COST, COTY, CSGS, CTS, CMI, CW, DVN, DFS, ^DJT, ^DJI, DOV, EBAY, EMR, EOG, EFX, EL, FFIV, FIS, FIVN, FTV, FWRD, FDP, IT, GNW, GILD, GFS, GL, GMS, GPRO, GGG, GES, THG, HE, HL, HSIC, HNI, HD, HOV, HUBG, HUM, JBHT, HURC, IEX, INCY, IBP, IIIN, ITGR, IPAR, IPG, JAZZ, KBH, KELYA, KFRC, KSS, LHX, LAMR, LANC, LEG, LDOS, LMT, L, LOW, MHO, MTSI, MANH, MAN, MCHX, MRTN, MLM, MAS, MTDR, MTRN, MU, MLKN, MCO, MS, MLI, MYGN, NBR, NOV, NFLX, NJR, NEU, NKE, JWN, OXY, ORI, OLN, OMCL, ASGN, ON, OTEX, OXM, PCTY, PYPL, PETS, PCG, PFG, KWR, RL, RGS, RGA, RNG, ROG, ROL, ROP, RGLD, RES, R, SBH, SLB, SMG, SHW, SHOP, SLGN, SKX, SKYW, SR, SPSC, SCS, TPR, TDOC, TDY, TPX, TDC, TER, TXN, TXT, TKR, TJX, TOL, TSCO, RIG, TG, TREX, TWLO, UHAL, UIS, VLO, VECO, VEEV, VRTX, VC, VMC, WRB, WSO, WERN, WLK, WEX, WOLF, WWD, ZBRA, ITA, IYM, IYK, IYC, IYE, IEZ, IHE, DDM, QTEC, FXL, FXI, ICF, IHF, IAT, IXC, MXI, IXN, SLV, IEO, IYF, ITB, IHI, EWK, EIS, EWJ, EWY, TUR, EWU, QLD, IBB, PPA, PBE, PEJ, PXJ, PJP, PHO, ROBO, XLY, XLP, XLF, XHB, XLI, XLB, XRT, XLK, 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.

$ $ $

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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Monday 11/25/24. Market Monday: The Week Ahead

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

My Prediction

This is a chart of the Dow industrials on the daily scale. Not much has changed in the last month.

We see a double top at AB. It confirms as a valid chart pattern when the index closes below the lowest valley between the two peaks. That happens at E, the green line.

I drew two trendlines following the price action higher.

Notice that at D, the index doesn't touch the bottom trendline. That's a hint of a coming upward breakout. It's not guaranteed. Such a decline is called a partial decline.

I haven't studied how often it works with channels, which are the two red trendlines.

It's possible the index will stall here, near the height of the old peak (the highest on the chart), so be aware of that. It could rise a bit higher before dropping, forming a new pattern called a 2B.

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 163 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, AXDX, ACIW, ALRM, ALKS, AMZN, AIG, AMN, ANIK, AAPL, ATR, ARCB, ACGL, AVA, BKH, BSX, BRC, BCO, BBW, CBT, CENX, CRL, CVX, CIEN, CI, CNX, CTSH, CMTL, COP, COST, CROX, CTS, CW, DECK, DDS, ^DJU, EVRG, EXC, EXPI, FISV, FLS, FMC, FTNT, IT, GIS, GILD, GFS, GPRO, HL, HELE, HP, HON, JBHT, ITW, ILMN, INCY, INFN, IPG, K, KFRC, KLIC, LHX, LANC, LEG, RAMP, L, MTSI, MANH, MCHX, MRTN, MLKN, MUR, NBR, NTAP, NJR, NKE, JWN, OLN, ASGN, PAYX, PCTY, PYPL, PETS, PFE, PNW, PLXS, PG, KWR, RNG, ROL, ROP, RGLD, RES, SAND, SIGI, SCI, SHOP, SLGN, SKX, SO, SR, TPR, TDOC, TDY, TPX, TXN, TXT, TTD, TSCO, RIG, TRV, TG, TREX, UHAL, UGI, UIS, UPS, VLO, VECO, VEEV, VRSN, VRTX, VMC, WMT, WEX, IAI, IYK, IYC, FTEC, FXI, IHF, IGE, IHI, EWO, EWY, EWP, EWD, EWT, TUR, QLD, DBA, PBE, PEJ, PJP, ROBO, XLY, GLD, XLB, XAR, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Friday 11/22/24. Pattern Trading Setups for the Weekend.

Here's a symbol list of 176 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABM, AXDX, ACIW, AFL, A, APD, ALKS, ALGT, AMZN, DOX, AEE, AMWD, APH, ATR, ARCB, ANET, AWI, ARW, AVA, AXS, AZTA, BALL, BA, BRC, CBT, CACI, COR, CENX, CDAY, CF, CRL, CHKP, CIEN, CI, CTAS, CNX, CTSH, CMTL, COP, CSGP, COST, CTS, CW, ^DJU, EXP, EVRG, EXC, EXPI, FIS, FDP, IT, GE, GILD, GPRO, HELE, HP, DHI, HWM, JBHT, HURC, INCY, INFN, NSP, IBP, IIIN, PODD, JAZZ, KFRC, KLIC, LHX, LANC, RAMP, LXU, MTSI, MGY, MRO, MCHX, MRTN, MTDR, MS, MLI, MUR, NBR, NTAP, NJR, NEE, OGE, OLN, ASGN, ORCL, PAYX, PCTY, PETS, PNW, PLXS, PRU, KWR, DGX, RMBS, RNG, ROG, ROP, RGLD, RES, SAND, SAIC, SRE, SMTC, SCI, SLGN, SKX, SMAR, SO, SPSC, SCS, SUM, SNPS, TGT, TECH, TDY, TDC, TXN, TXT, TTD, TSCO, TDG, TZOO, UIS, UNM, VLO, VMI, VECO, VEEV, VRTX, VMC, WAT, WEX, WPM, WMB, WWD, ITA, IYE, FDN, FXL, IHF, IGV, IXC, IGE, IEO, EWA, EWZ, EWC, TUR, QLD, PPA, PBE, PJP, PHO, XLE, GLD, 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.

$ $ $

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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Thursday 11/21/24. Intraday Market Direction: Nasdaq

$ $ $

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

At A, circled in green, we see a double top chart pattern. Those breakout down, and if they don't, they are not double tops. The index made a good drop to B.

The two diagonal, rising and diverging red trendlines highlight an ascending broadening wedge. Those breakout downward 52% of the time in a bull market. This one looks like price is about to pause and then resume moving upward.

At C, we have the dreaded multi-peak pattern. Those are tricky but are usually bears and I avoid them.

$ $ $

Here's a symbol list of 171 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABM, AXDX, ACN, ACIW, AYI, AES, ALRM, ALB, ALKS, AMZN, AEO, AMGN, APH, AR, AON, ATR, ARCB, AGO, AVA, AZTA, BBY, BIO, BKNG, BRC, CBT, CDAY, CRL, CIEN, CI, CTAS, CLNE, CTSH, CMTL, GLW, CR, CROX, CCRN, CTS, CW, FANG, ^DJU, ^DJT, BOOM, EXP, ECL, EIX, EOG, EQT, EVRG, EVH, EXC, EXPI, EZPW, FDX, FLEX, FRD, GAP, IT, GE, GILD, GFS, GPRO, GFF, THG, HAYN, HP, HUM, JBHT, IDA, IEX, ITW, INCY, IPAR, JKHY, KBH, KEYS, KFRC, KMB, KLIC, LHX, LZB, LRCX, LANC, MTSI, MCHX, MRTN, MA, MDT, META, MLI, NBR, NFLX, NEU, OXY, OLN, OMCL, ASGN, OMI, OXM, PAYX, PCTY, PEN, PETS, PNW, PLXS, PPL, PFG, PRU, QTWO, RMBS, RRC, RGA, RNG, ROP, RGLD, SAND, SCHW, SIGI, SMTC, SHW, SHOP, SR, SPSC, SUM, SNPS, TGT, TDY, TXN, TXT, TTD, TSCO, UIS, VECO, VEEV, VRTX, V, VC, VMC, WRB, WSM, WWD, XEL, ITA, IEZ, FXL, IHF, IGV, EWJ, TUR, QLD, IBB, PPA, PBE, PJP, PHO, XLF, GLD, XAR, UNG, VIS. 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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Wednesday 11/20/24. A Look at the Chart Pattern Indicator (CPI)

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, as the red vertical bar on the far right shows. Notice that it was neutral for almost two weeks before turning red.

Also notice that the mid to end July period shows a lot of neutral bars followed by a red one. Back then, it remained red (bearish) for about a week. Half that time, the index dropped and half it recovered while the CPI still remaining bearish.

Maybe that's what we can expect this time, but nothing is guaranteed.

In this chart, I show the CPI at the bottom of the chart without the vertical bars hiding the indicator line.

The green lines connect the peaks on the CPI line to see where they line up with the index.

I drew violet bars which show where the index peaks after a CPI peak. Notice that the distance from the CPI peaking compared to the index peaking. In several, but not all, cases it's about a week. Maybe, in the future, you can use the timing to help determine when the CPI will show a corresponding peak in the index. Notice that the best timing (of about a week before an actual peak) corresponds to the CPI that has a sharp turn. July, October, and November are such peaks (gray circles). The wider CPI peaks tend to take longer before a index peak appears.

I don't know if this works because I only saw this relationship today, so keep that in mind, but maybe it can help you determine when the index is going to peak.

$ $ $

Here's a symbol list of 177 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ANF, ABM, AXDX, ACIW, AYI, A, ALKS, ALGT, AMZN, AEO, AMWD, AME, APH, ATR, ARCB, AWI, ASH, AZTA, BMI, BERY, BBY, BIO, BRC, CBT, CLS, CENX, CDAY, CRL, CIEN, CI, CTAS, CSCO, CLNE, CTSH, CMCO, CMTL, CR, CRH, CCRN, CTS, CW, DVN, ^DJU, ^DJT, DOV, EXP, ECL, EME, EPAM, EXPI, FLEX, FLS, FORM, FWRD, FNV, FRD, GME, GAP, IT, GE, GILD, GS, GPRO, GFF, HAYN, HP, HOV, JBHT, IEX, INCY, IPAR, INTU, K, KEYS, KFRC, KLIC, LHX, LRCX, LANC, LNC, RAMP, LPLA, MTSI, MCHX, MRTN, MTRN, MDT, MLI, NBR, NEU, NKE, ORI, OLN, OMCL, ASGN, ON, OUT, PAYX, PCTY, PETS, PLXS, PPG, PPL, PG, QTWO, KWR, RL, RMBS, RNG, RHI, ROP, RGLD, SAND, SEE, SIGI, SMTC, NOW, SLGN, STR, SPSC, SUM, SNPS, TDY, TPX, TXN, TXT, TTD, TJX, TSCO, RIG, TZOO, UIS, UNM, VECO, VEEV, VRTX, VC, VMC, WMT, WSO, WPM, WWD, ITA, IYC, FTEC, QTEC, FXL, BOTZ, IHF, IXN, EWK, EWI, THD, TUR, QLD, PPA, PBE, PHO, SSO, ROBO, GLD, XLB, XLK, 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.

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Tuesday 11/19/24. Slider Trading Quiz!

$ $ $

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

$ $ $

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: ANF, AXDX, ACN, AFL, APD, ALGT, AMZN, AEO, AMGN, APH, ACGL, ADM, ANET, BCPC, BBY, BIO, BKH, BRC, BLDR, BG, CENX, CIEN, CSCO, CLNE, CTSH, ED, GLW, COTY, XRAY, DSGR, ^DJU, ^DJI, DUK, EBAY, EIX, EFX, EG, EVRG, EXC, EXPI, FIS, FLEX, FMC, FORM, FTV, FNV, GME, GIS, GS, HLIT, HL, HSIC, HSY, HNI, ILMN, IBKR, INTU, JAZZ, JNJ, KEYS, KMB, LRCX, LLY, META, NFG, NFLX, NTGR, NEU, NKE, JWN, NTNX, PKE, PATK, PDCO, PYPL, PFE, PPL, PRU, RNG, CRM, SAND, SMTC, NOW, SHOP, SKYW, SO, SCCO, SR, TRGP, TECH, TMO, TJX, TG, UPS, UNM, VECO, VEEV, WRB, WMB, WDAY, IYM, IHE, FXL, ICF, IYZ, IGV, IXC, SLV, EWK, EIS, EWT, EWU, IBB, PBE, PXJ, 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.

$ $ $

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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Monday 11/18/24. 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.

ABC is a wonderful looking double top. The AB tops confirm as a valid chart pattern when the index closes below C, the lowest price between the two peaks.

In this case, the index didn't drop far after confirmation, so the move didn't reach the target. The target is the height of BC subtracted from C.

After that, the index followed a channel (two nearly parallel red lines). The index pushes through the top of the channel, which is unusual. It suggests lots of bullish buying and enthusiasm.

I believe the index will return to the top red trendline of the channel and find support at E, but it could drop as far as the gap (diagonally to the lower left of E), and fill it.

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 179 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACN, AMD, AFL, A, AEE, AFG, AMGN, AMAT, ATR, ACGL, ANET, AVNT, BZH, BKH, BAH, BBW, BLDR, BG, CNC, CNP, CENX, CTAS, ED, GLW, COST, COTY, CROX, CW, DSGR, ^DJI, BOOM, EBAY, ECL, EIX, EFX, EG, EXC, XOM, FFIV, FDX, FMC, FORM, FTNT, FTV, FWRD, GME, GAP, IT, GD, GOOGL, HLIT, HIG, HAYN, HTLD, HNI, HD, HWM, ILMN, IBP, ITGR, IPAR, JAZZ, JNJ, K, KEYS, KLAC, LRCX, LLY, RAMP, MTSI, MA, MRK, META, MU, MUR, NEE, NOVT, NVDA, OXY, OLN, OTEX, PKE, PATK, PCTY, PYPL, PFE, PPL, PRU, PEG, QTWO, DGX, RGA, RNG, RHI, RES, ^GSPC, CRM, SBH, SAND, SRE, SMAR, SO, LUV, SR, SXI, TECH, TDOC, TER, TXT, TMO, RIG, UGI, UIS, VECO, VRTX, V, WSO, WEX, WOLF, WWD, IYM, IYK, IYC, IYE, IHE, IDU, DDM, QTEC, FXL, BOTZ, IYH, MXI, IXN, SOXX, SLV, EWZ, EWJ, EWM, EWY, EWP, EWD, EWL, EWT, THD, IBB, PBE, PJP, SSO, ROBO, XLP, XLE, XLV, XLB, SPY, UNG, SMH, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Friday 11/15/24. Pattern Trading Setups for the Weekend.

Here's a symbol list of 159 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACN, AYI, AFL, A, AEO, AFG, AMGN, ANIK, AR, AAPL, ACGL, ADM, AVNT, AZTA, BSET, BZH, BKH, BAH, BLDR, BG, CENX, CVX, CLF, DDS, DSGR, ^DJI, EBAY, EOG, EG, EVRG, EXPI, XOM, EZPW, FFIV, FMC, FORM, FTV, FCX, GAP, IT, GD, GILD, GFS, GL, GES, HAYN, HTLD, HSIC, HNI, HWM, JBHT, HUN, IDA, IBP, INTC, IRM, K, KEYS, LEG, LLY, RAMP, LXU, MCHX, MA, MCO, MUR, NFG, NOV, NTGR, NTAP, NJR, NI, NOC, NUS, OXY, OTEX, OR, PKE, PATK, PDCO, PYPL, PFE, PPL, QTWO, DGX, RGA, RNG, RHI, ROP, SBH, SAND, SCHW, SEIC, SHOP, SWX, SR, SPSC, SCS, SRDX, TPR, TECH, TDOC, TEVA, TXT, TSCO, UIS, UNH, UNM, VRTX, WSO, WLK, WPM, WWD, ITA, IYM, IYC, IYE, QTEC, FXL, IYH, IAT, IXN, SLV, EWO, EWK, ECH, EWH, EWM, EZA, EWY, EWT, THD, EWU, IBB, DBA, PJP, XLE, XLV, XLB, XAR, UNG, VHT, VONG. 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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Thursday 11/14/24. Intraday Market Direction: Nasdaq

$ $ $

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

The index has done something I can't remember seeing before. It has gone horizontal.

There's a chart pattern called a rectangle top that describes the pattern. I show it outlined in red on the chart. Price travels sideways, bouncing between two horizontal (or nearly so) trendlines. The breakout can be in either direction.

At first, I thought the markets were waiting for the FED to report but that has already happened. Maybe it's waiting for Trump to do something silly that affects the markets.

$ $ $

Here's a symbol list of 163 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACN, AYI, AFL, A, AA, AMGN, AON, ACGL, ADSK, AZTA, BMI, BALL, BSET, BZH, BKH, BR, BLDR, BG, CDNS, CE, CX, CENX, CF, CHKP, CSCO, DECK, DVN, DSGR, DTE, EBAY, EIX, EG, EVRG, EXPI, EZPW, FMC, FORM, FTV, FCX, FDP, GAP, GNW, GFF, HLIT, HE, HAYN, HTLD, HSII, HELE, HSIC, HNI, DHI, HUM, IDA, IEX, JBLU, LHX, LANC, LEN, LLY, LMT, L, LXU, MHO, MGY, MLM, MA, MU, MLKN, MCO, NFG, NOV, NFLX, NJR, NOC, NWPX, NVDA, OR, OUT, PKE, PATK, PDCO, PYPL, PCG, PPG, PPL, PHM, DGX, RL, RGS, RGA, RNG, ROL, SAND, SLGN, STR, SO, SCCO, LUV, SWX, SR, SCS, SSYS, SRDX, TECH, TDOC, TEVA, VECO, VRSN, WPM, WWW, IYM, IEZ, IDU, FTEC, FXL, FXI, BOTZ, IAT, IEV, IGV, IXC, MXI, SLV, IEO, ITB, EWA, EWO, EWK, EEM, EWQ, EWG, EWH, EWI, EWJ, EPP, EZA, EWY, EWP, EWD, EWL, TUR, IBB, PPA, PJP, ROBO, XAR, UNG, VAW, MGK, VONG. 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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Wednesday 11/13/24. A Look at the Chart Pattern Indicator (CPI)

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 flipped to bearish, as the tall red bar on the far right of the chart shows.

I believe a retrace is happening that will take the indices lower. Not a lot, mind you, but some. I've flipped the targets (see top of page) to down. After a short retrace, I expect a resumption of the uptrend which will lead to new highs.

The two green circles on the chart highlights where I believe the index will retrace to, find support there, and resume the uptrend. On the left scale, that's about 5825.

$ $ $

Here's a symbol list of 184 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ANF, AXDX, ACN, AEIS, AES, AFL, APD, AA, AEE, AMGN, AAPL, ACGL, AIZ, AGO, BMI, BAX, BKH, BLDR, BG, CDNS, CE, CLS, CX, CENX, CDAY, CLF, CLX, CNA, ED, COP, CSGP, CROX, DVN, DDS, DSGR, ^DJI, EBAY, ECL, EIX, EG, EVRG, FIS, FMC, FORM, FTV, FNV, FCX, GAP, GD, GNW, HTLD, HP, HSIC, HNI, HD, HON, DHI, HUN, IDA, INCY, NSP, ITGR, IPI, K, LHX, LANC, LEN, LLY, LMT, LOW, LXU, M, MGY, MRO, MCHX, MLM, MTRX, MGEE, MUR, JWN, NOC, NOVT, OXY, OTEX, OR, PKE, PATK, PYPL, PCG, PNW, PLXS, PPG, PPL, PINC, PHM, PSTG, QTWO, RL, RMBS, RTX, RGS, RNG, ROL, SAND, SHW, SHOP, SO, SCCO, SWX, SR, TECH, TFX, TEVA, TKR, TDG, UHAL, VECO, VRTX, WPM, WWW, WWD, ITA, IYM, DDM, FXI, IEV, MXI, SOXX, IGE, EWO, EWK, ECH, EEM, EWQ, EWG, EWH, EWM, EZA, EWY, EWP, EWD, EWL, EWT, THD, EWU, IBB, PPA, GLD, XLI, XLB, XAR, UNG, 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.

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Tuesday 11/12/24. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Werner Enterprises: WERN stock.

$ $ $

Here's a symbol list of 207 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ANF, AXDX, ADBE, ADTN, AEIS, AFL, A, AKAM, ALB, AEE, AEO, AXP, AFG, AIG, AMGN, AMN, ANIK, AR, ANET, ASH, AIZ, AGO, ADSK, BSET, BECN, BMRN, BA, BMY, BBW, CE, CLS, CENX, CDAY, CVX, CINF, CSCO, CLF, CNA, CNO, CMTL, CAG, CSGP, CR, CW, FANG, DDS, DSGR, ECL, EME, EPAM, EQT, EVRG, EXPD, FLS, FTV, FNV, FCX, GAP, GD, GNW, GMS, GS, GFF, THG, HIG, HSII, DHI, HUN, INCY, IIIN, IBKR, JBLU, LHX, LZB, LANC, LEG, LDOS, LOW, LPLA, LXU, MGY, MRTN, MLM, MTRX, MS, MOS, NOC, NOVT, OMCL, ON, PANW, PTEN, PYPL, PEN, PFE, PCG, PNW, PLXS, PPL, PRU, QTWO, RL, RRC, RGA, RNG, ROL, R, CRM, SCHW, SAIC, SIGI, SHOP, STR, SKYW, SCCO, LUV, SCS, TKR, TSCO, TDG, TRV, TG, TREX, TWLO, UHAL, UIS, UNM, VMI, VECO, VRTX, WMT, WAT, WERN, WLK, WPM, WWW, WWD, ITA, IYM, IAI, IYC, IHE, DDM, FDN, FXI, BOTZ, IHF, IAT, IYZ, IEV, IGV, MXI, SLV, IYF, EWA, EWK, ECH, EEM, EWM, EPP, EWS, EZA, EWY, EWP, EWD, THD, TUR, IBB, PPA, PEJ, XLY, XLF, GLD, XLI, XRT, XAR, VIS, VAW, 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 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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Monday 11/11/24. Market Monday: The Week Ahead

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

My Prediction

I show the Dow utilities on the daily scale.

Outlined in red is a chart pattern called a broadening top. Those break out upward 60% of the time in a bull market. At A, we can see the index heading toward the top of the pattern, but it has a long way to go.

A partial rise occurs when the index climbs partway up the pattern and reverses to breakout lower 52% of the time. The near-random value isn't inspiring and we'll have to see what happens to the index.

I'm expecting a recovery but the utilities seem to have a mind of their own recently, so your guess is as good as mine.

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 116 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACN, ADTN, A, ALRM, ALGT, ALL, AEE, AEO, AIG, AMN, APA, APOG, ACGL, ANET, ATO, AVA, BAX, BZH, BBY, BRC, CENX, CDAY, CTAS, CLNE, CMTL, CXW, GLW, CR, ECL, EME, EOG, EVRG, EVH, FICO, FIVN, FLEX, FLS, FTNT, FTV, FDP, FRD, HIG, HQY, HELE, HOV, HUN, IEX, ITW, INFN, PODD, KELYA, KFRC, KSS, LANC, L, LPLA, MGY, MTRN, MGEE, MCO, ^IXIC, OLN, OMCL, OXM, PATK, PEN, PFE, PINC, DGX, RRC, RNG, RLI, ROL, ROP, R, SEE, SCI, SKYW, SCS, SSYS, SNPS, TPR, TRGP, UIS, VEEV, VRTX, VMC, WLK, IYK, IYE, BOTZ, QQQ, ICF, IYH, IYZ, MXI, EWI, EWS, THD, TUR, QLD, PJP, PHO, 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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Friday 11/8/24. Pattern Trading Setups for the Weekend.

Here's a symbol list of 164 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACIW, AEIS, AES, A, APD, ALRM, DOX, AMED, APA, AMAT, ANET, ATO, BCPC, BSET, BAX, BZH, BAH, CPB, CENX, CVX, CLNE, ED, CR, XRAY, DVN, DDS, EME, EPAM, EG, EXC, FDS, FARO, FIVN, FTNT, GME, GILD, GMS, GOOGL, GPRO, HBI, HAYN, HUBG, JBHT, HURC, IEX, ITW, NSP, IIIN, ITGR, INTC, INTU, JKHY, JAZZ, KALU, LANC, RAMP, L, LPLA, MTSI, MRTN, MA, ^IXIC, NFG, NFLX, NWPX, NTNX, OMI, OXM, PKE, PATK, PTEN, QTWO, KWR, RL, RGA, RNG, RES, R, ^GSPC, SAIA, SAND, SCHW, SMG, STR, SMAR, SXI, SCS, SSYS, SUM, SNPS, TPR, TDOC, TPX, TER, TTD, TZOO, TG, UIS, UNH, VFC, VLO, VEEV, V, WRB, WU, WLK, WOLF, ITA, IYC, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, IYZ, IGV, IXN, SOXX, IYF, EWK, EWH, EWJ, EWS, EWY, EWL, EWT, QLD, PPA, PBE, PHO, SSO, ROBO, XLY, XLF, XLI, SPY, XLK, SMH, VIS, MGK, VONG. 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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Thursday 11/7/24. Dow After 2016 Election

$ $ $

I show a picture of the Dow industrials on the daily scale, but the chart is from 2016.

Instead of charting the Nasdaq intraday, I thought it would be instructive to see what happened the last time Trump won the election.

The chart shows the election on November 8, 2016. The next day, Trump was declared the winner, beating Clinton.

Notice what the Dow industrials did.

From the November low, the Dow was already moving up as if a Trump win was expected. After he won, it continued to rise.

What will happen this time? No one knows, of course. But the CPI (chart pattern indicator) reached 87.8 today, which is bullish but far below 100. I thought the indicator would be pegged at 100. Hmm. To me, that's a danger signal.

With the above stats suggesting a lower close 58% of the time (near random), I'm thinking that we'll see the markets retrace sone of the big gain.

Oh. I should mention that I thought the markets would be quiet (see yesterday's blog post) until the FED announces a quarter-point drop in rates tomorrow (Thursday). So I missed calling this rally. Oops. I didn't think the markets would react to a win by either side.

$ $ $

Here's a symbol list of 354 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ABM, AXDX, ACN, ACIW, AYI, AES, AFL, A, AKAM, ALRM, ALK, ALKS, ALGT, ALL, DOX, AMED, AEO, AMWD, AME, AMN, APH, AR, AON, APOG, ATR, ARCB, ANET, AWI, AIZ, AGO, ATO, ADSK, ADP, AVY, AVNT, AVA, AZTA, BMI, BCPC, BSET, BAX, BERY, BA, BKNG, BOOT, BAH, BFH, BMY, BR, CACI, CALM, CAL, CPB, CE, CLS, CX, COR, CENX, CDAY, CRL, CVX, CIEN, CINF, CTAS, CSCO, CLNE, CLF, CNO, CGNX, CTSH, CL, CMCO, ED, COP, CXW, GLW, COTY, CR, CRH, CCRN, CCK, CSGS, CTS, CW, DDS, DFS, ^DJT, EXP, ECL, EME, EMR, EFX, EQT, EG, EVH, EXPI, FFIV, FAST, FISV, FLEX, FLS, FMC, FTNT, FWRD, GAP, GD, GIS, GNW, GILD, GPN, GFS, GL, GMS, GPRO, GGG, HBI, THG, HQY, HL, HSII, HSY, HNI, HOLX, DHI, HWM, HUBG, JBHT, IEX, ITW, INCY, INFN, PODD, ITGR, INTC, IPAR, IBKR, INTU, JKHY, JAZZ, KALU, KELYA, KMT, KEYS, KFRC, KMB, KSS, KLIC, LZB, LH, LANC, LDOS, LLY, RAMP, L, LPLA, MGY, MRO, MKTX, MRTN, MTDR, MTRN, MRK, MRCY, MU, MSFT, MLKN, MS, MOS, MLI, NBR, ^IXIC, NFLX, NEU, NEE, NKE, JWN, NWPX, NVDA, OXY, OMCL, OMC, OR, OUT, PKG, PKE, PCTY, PYPL, PNW, PLXS, PFG, PGR, PRU, QTWO, KWR, QCOM, RMBS, RRC, REGN, RGS, RLI, ROK, RCKY, ROG, ROST, RGLD, R, ^GSPC, SAIA, CRM, SBH, SLB, SMG, SEIC, SIGI, SRE, SCI, NOW, SLGN, STR, SKX, SKYW, SMAR, SR, SPSC, SXI, SRDX, SNPS, TPR, TRGP, TGT, TECH, TDC, TER, TEVA, TXT, TKR, TJX, TSCO, TDG, RIG, TZOO, TG, UIS, UNH, UNM, VFC, VLO, VMI, MDRX, VRSN, V, VC, VMC, WSO, WERN, WU, WLK, WPM, WMB, WSC, ZBRA, IYK, IYC, IYE, IEZ, FDN, FXL, BOTZ, QQQ, IHF, IAT, IYZ, IGV, MXI, SLV, IEO, IYF, EWK, EWC, ECH, EWQ, EIS, EWW, EWD, EWL, THD, EWU, PPA, PBE, PEJ, PXJ, PJP, PHO, SSO, ROBO, XLY, XLP, GLD, XLV, XLB, XRT, SPY, SMH, VHT, VAW, MGK, VONG. 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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Wednesday 11/6/24. A Look at the Chart Pattern Indicator (CPI)

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 bullish as the vertical green bar on the far right of the chart shows.

The signal suggests that the recent retrace in the index is over, but I know that big moves like we saw today (Tuesday) are what pulled the CPI higher.

I drew a red line to show the timing of the CPI peak related to the index, and the green line to show where the CPI turned higher. (I think I drew the green line incorrectly. It should line up better with the gap in the index).

This chart shows the CPI suggesting a higher move coming.

$ $ $

The Federal Reserve meets Wednesday and Thursday this week, so expect the markets to be calm until late Thursday afternoon when they announce their decision. Look for a one-quarter drop in interest rates.

$ $ $

Here's a symbol list of 138 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABM, AXDX, AEIS, AFL, A, AKAM, ALRM, AA, ALKS, DOX, AEO, AIG, AMN, ANIK, ATR, ARCB, ADM, ANET, AGO, BMI, BAX, BA, BRC, BMY, CE, CLS, CNC, CENX, CHD, CTAS, CLNE, CLF, CR, CRH, CSGS, CMI, BOOM, EME, EFX, EXPI, FDX, FIS, FISV, FIVN, FTNT, FNV, GNW, GMS, GFF, THG, HLIT, HQY, HSII, HD, HUBG, HUN, IDA, IBP, IIIN, IRM, KMT, KSS, LRCX, LEG, LPLA, MTSI, MKTX, MS, MUR, ^IXIC, NWL, NEU, NOVT, NUS, OMCL, ASGN, OUT, PATK, PPG, PINC, KWR, RNG, RHI, RCKY, R, SCHW, SKX, SMAR, SSYS, TPR, TRGP, TPX, TKR, RIG, TREX, UIS, UNM, WSO, WLK, WMB, IAI, IYC, FTEC, FXL, FXI, BOTZ, IYZ, IXN, IYF, IHI, EWK, ECH, EEM, EWG, EWH, EWM, EWW, EZA, PBE, XAR, XLK, UNG, MGK, VONG. 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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Tuesday 11/5/24. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Williams-Sonoma (WSM) stock.

$ $ $

Here's a symbol list of 117 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ABM, AXDX, AFL, ATSG, AKAM, ALRM, AEO, AIG, AMGN, AGO, BALL, BSET, CNP, CDAY, CI, CSCO, CLNE, CNX, CMTL, GLW, CCRN, CSGS, DVN, EMN, EBAY, EME, EOG, EPAM, EXPI, FIS, FTNT, FTV, GNW, GFS, HE, HAYN, HSII, HUM, JBHT, HURC, IBP, IPG, JKHY, KBH, K, KELYA, KMT, KSS, LNC, L, LPLA, MHO, MS, MOS, NWL, JWN, OMI, OXM, PEN, PFE, PNW, POR, PEG, PHM, PSTG, RGS, CRM, SIGI, SHW, SLGN, SMAR, TPR, TDC, TOL, TG, UHAL, UNM, VECO, MDRX, VC, VMC, WRB, WLK, WEX, WSM, WDAY, ZBRA, IDU, IAT, IYZ, MXI, ILF, ITB, EWO, EWK, EWZ, EEM, EWM, EWW, EWS, EZA, EWY, THD, TUR, 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.

$ $ $

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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Monday 11/4/24. 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.

The chart pattern pictured is a rising wedge. That's bad news for two reasons.

First, the wedge breaks out downward most often 60% of the time, according to my book, Encyclopedia of Chart Patterns, 3rd Edition (#AD)

In this case, the wedge did the unusual by breaking out upward first. However, the index reversed and dropped below the bottom red trendline.

Second, this is what I call a busted rising wedge, although I usually wait for the security to close below the bottom of the chart pattern. In this case, that would be a delay that's too far.

What does a busted pattern mean? It suggests, but does not guarantee, that we'll see the index continue to drop.

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 165 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, AXDX, AYI, AES, AFL, AKAM, ALRM, AMZN, AMED, AEO, AFG, AIG, APH, ANIK, APOG, AAPL, ACGL, AGO, AVNT, AXS, BSET, BKNG, BSX, BRKR, BBW, CE, CNP, CF, CHD, CNX, CMTL, COST, CCRN, CSGS, ^DJU, ^DJI, EMN, ECL, EIX, ELV, EOG, EQT, EG, FORM, FTV, GNW, GMS, HE, HP, DHI, IDA, PODD, INTC, TILE, INTU, KBH, KEYS, LEN, LNC, LPLA, MHO, MGY, MCHX, MRTN, MTRN, MGEE, MU, MCO, MUR, MYGN, NEU, NEE, NI, JWN, NOC, NWPX, OGE, ASGN, OTEX, ORCL, OUT, OMI, OXM, PANW, PDCO, PCG, PNW, PPG, PEG, PHM, KWR, REGN, RGA, ROL, RGLD, SAIA, SIGI, SHOP, SMAR, SO, TRGP, TFX, TPX, TOL, TG, UNM, VLO, VMC, WRB, WMT, WERN, WMB, WSC, WWW, ZBRA, ITA, IAI, IYC, IYE, IDU, IYZ, IXC, SLV, IGE, IHI, EWK, EWZ, EWG, EIS, EWW, EWT, TUR, IBB, PPA, DBA, PHO, SSO, GLD, SPY, XAR, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)

Friday 11/1/24. 2024 Forecast Update

Here's the updated 2024 market forecast, presented in slider format.

$ $ $

Here's a symbol list of 174 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, ADTN, AEIS, AMD, AFL, AKAM, ALKS, ALGT, ALL, AFG, ANIK, ATR, ACGL, ANET, ARW, AGO, AXS, BALL, BAX, BECN, BIO, BA, BKNG, BFH, BMY, BBW, CACI, CE, CX, CNC, CF, CLNE, CNX, CGNX, COST, CCRN, CCK, CSGS, CTS, CW, DECK, DDS, DFS, ^DJI, EMN, EBAY, ECL, EL, EG, FLEX, FORM, FTV, FWRD, FNV, FCX, FRD, GNW, THG, HL, HUN, HURC, IDXX, ITW, IIIN, INTC, TILE, IPG, KBH, KEYS, LRCX, L, LPLA, MHO, MGY, MCHX, MA, MTDR, MU, MLKN, MCO, NEU, NKE, JWN, NOVT, NTNX, ORI, OMCL, ORCL, OUT, OXM, PANW, PDCO, PTEN, PPG, PINC, PHM, REGN, RCKY, ROG, RES, ^GSPC, SEIC, SIGI, SCI, SCCO, LUV, SPSC, SXI, SCS, SNPS, TRGP, TOL, TWLO, UNH, VFC, VECO, WRB, WSC, WWW, XEL, ITA, IYM, DDM, IHF, IYZ, IEV, MXI, IXN, SLV, IGE, EWA, EWK, EEM, EIS, EPP, EZA, EWY, EWD, EWL, EWT, EWU, IBB, PPA, SSO, XLI, SPY, XAR, VIS, VAW, VONG. 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.