As of 12/06/2024
Indus: 44,643 -123.19 -0.3%
Trans: 16,879 -97.04 -0.6%
Utils: 1,036 -11.79 -1.1%
Nasdaq: 19,860 +159.51 +0.8%
S&P 500: 6,090 +15.16 +0.2%
|
YTD
+18.4%
+6.2%
+17.4%
+32.3%
+27.7%
|
44,000 or 46,000 by 12/15/2024
17,025 or 18,000 by 12/15/2024
1,025 or 1,100 by 12/15/2024
20,000 or 18,500 by 12/15/2024
6,200 or 5,900 by 12/15/2024
|
As of 12/06/2024
Indus: 44,643 -123.19 -0.3%
Trans: 16,879 -97.04 -0.6%
Utils: 1,036 -11.79 -1.1%
Nasdaq: 19,860 +159.51 +0.8%
S&P 500: 6,090 +15.16 +0.2%
|
YTD
+18.4%
+6.2%
+17.4%
+32.3%
+27.7%
| |
44,000 or 46,000 by 12/15/2024
17,025 or 18,000 by 12/15/2024
1,025 or 1,100 by 12/15/2024
20,000 or 18,500 by 12/15/2024
6,200 or 5,900 by 12/15/2024
| ||
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)
Symbol | Chart Pattern | Bullish Bearish | Start | End | Industry |
ANF | Pipe bottom | 10/28/2024 | 11/04/2024 | Apparel | |
AFG | Ugly double bottom | 11/04/2024 | 11/19/2024 | Insurance (Prop/Casualty) | |
AIG | Double Bottom, Adam and Adam | 11/13/2024 | 11/21/2024 | Insurance (Prop/Casualty) | |
AMWD | Head-and-shoulders top | 10/21/2024 | 11/25/2024 | Building Materials | |
ANET | Pipe bottom | 11/11/2024 | 11/18/2024 | E-Commerce | |
CPB | Pipe bottom | 11/11/2024 | 11/18/2024 | Food Processing | |
CHKP | Double Bottom, Eve and Adam | 11/04/2024 | 11/19/2024 | E-Commerce | |
COP | Double Top, Adam and Adam | 11/06/2024 | 11/21/2024 | Petroleum (Integrated) | |
EBAY | Pipe bottom | 10/28/2024 | 11/04/2024 | Internet | |
EG | Pipe bottom | 10/28/2024 | 11/04/2024 | Insurance (Prop/Casualty) | |
XOM | Broadening top | 11/07/2024 | 11/27/2024 | Petroleum (Integrated) | |
FFIV | Ugly double bottom | 10/24/2024 | 11/04/2024 | Internet | |
GD | Double Top, Adam and Eve | 10/23/2024 | 11/13/2024 | Aerospace/Defense | |
GIS | Pipe bottom | 11/11/2024 | 11/18/2024 | Food Processing | |
HELE | Head-and-shoulders bottom | 10/31/2024 | 11/18/2024 | Toiletries/Cosmetics | |
HNI | Pipe bottom | 10/28/2024 | 11/04/2024 | Furn/Home Furnishings | |
HOV | Double Bottom, Adam and Eve | 10/29/2024 | 11/19/2024 | Homebuilding | |
IBP | Pipe bottom | 11/11/2024 | 11/18/2024 | Retail Building Supply | |
IPG | Pipe bottom | 11/11/2024 | 11/18/2024 | Advertising | |
JBLU | Head-and-shoulders top | 10/04/2024 | 10/28/2024 | Air Transport | |
KSS | Dead-cat bounce | 11/26/2024 | 11/26/2024 | Retail Store | |
OGE | Broadening top, right-angled and ascending | 08/08/2024 | 11/12/2024 | Electric Utility (Central) | |
OXM | Head-and-shoulders bottom | 10/10/2024 | 11/20/2024 | Apparel | |
PKE | Pipe bottom | 10/28/2024 | 11/04/2024 | Chemical (Specialty) | |
PATK | Pipe bottom | 10/28/2024 | 11/04/2024 | Retail Building Supply | |
PNW | Ugly double bottom | 11/04/2024 | 11/19/2024 | Electric Utility (West) | |
POR | Double Bottom, Adam and Eve | 11/04/2024 | 11/14/2024 | Electric Utility (West) | |
PGR | Ugly double bottom | 11/05/2024 | 11/19/2024 | Insurance (Prop/Casualty) | |
ROST | Triple bottom | 10/30/2024 | 11/20/2024 | Retail (Special Lines) | |
SAIC | Double Top, Adam and Eve | 11/06/2024 | 11/11/2024 | IT Services | |
SEE | Double Bottom, Adam and Eve | 11/08/2024 | 11/19/2024 | Packaging and Container | |
SRE | Broadening top | 09/19/2024 | 11/04/2024 | Electric Utility (West) | |
SPSC | Ugly double bottom | 11/01/2024 | 11/15/2024 | E-Commerce | |
RIG | Triangle, symmetrical | 10/29/2024 | 11/27/2024 | Oilfield Svcs/Equipment | |
UPS | Double Bottom, Adam and Adam | 11/12/2024 | 11/20/2024 | Air Transport | |
VRSN | Double Bottom, Eve and Adam | 11/01/2024 | 11/19/2024 | Internet | |
WAT | Pipe bottom | 11/11/2024 | 11/18/2024 | Precision Instrument | |
WDAY | Double Top, Adam and Adam | 11/13/2024 | 11/25/2024 | Computer Software and Svcs |
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)
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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.
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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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)
© 2024 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 40,783.72 | ||
Weekly S2 | 42,614.71 | 1,830.99 | |
Monthly S1 | 42,760.15 | 145.43 | |
Monthly Pivot | 43,623.42 | 863.27 | |
Weekly S1 | 43,675.64 | 52.22 | |
Weekly Pivot | 43,999.80 | 324.15 | |
Daily S2 | 44,215.73 | 215.93 | |
Low | 44,385.49 | 169.76 | |
Open | 44,385.49 | 0.00 | Yes! The Open is close to the Low. |
Daily S1 | 44,476.15 | 90.66 | |
61.8% Down from Intraday High | 44,549.82 | 73.67 | |
50% Down from Intraday High | 44,600.58 | 50.76 | |
Daily Pivot | 44,645.91 | 45.33 | |
38.2% Down from Intraday High | 44,651.34 | 5.43 | Yes! The 38.2% Down from Intraday High is close to the Daily Pivot. |
Close | 44,736.57 | 85.23 | |
High | 44,815.67 | 79.10 | |
Daily R1 | 44,906.33 | 90.66 | |
Weekly R1 | 45,060.72 | 154.39 | |
Daily R2 | 45,076.09 | 15.37 | Yes! The Daily R2 is close to the Weekly R1. |
Weekly R2 | 45,384.88 | 308.79 | |
Monthly R1 | 45,599.85 | 214.97 | |
Monthly R2 | 46,463.13 | 863.28 |
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.
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.
No options expire this week.
The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.
Index | S2 | S1 | Pivot | R1 | R2 |
Dow Industrials (^DJI): Daily | 43,712 | 44,004 | 44,164 | 44,456 | 44,616 |
Weekly | 42,468 | 43,382 | 43,853 | 44,767 | 45,238 |
Monthly | 40,637 | 42,467 | 43,477 | 45,306 | 46,316 |
S&P500 (^GSPC): Daily | 5,934 | 5,952 | 5,962 | 5,980 | 5,991 |
Weekly | 5,815 | 5,892 | 5,933 | 6,010 | 6,050 |
Monthly | 5,574 | 5,771 | 5,894 | 6,092 | 6,215 |
Nasdaq (^IXIC): Daily | 18,850 | 18,927 | 18,976 | 19,053 | 19,103 |
Weekly | 18,490 | 18,747 | 18,929 | 19,186 | 19,368 |
Monthly | 17,536 | 18,270 | 18,818 | 19,552 | 20,100 |
Here are the formulas:
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)
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)
Symbol | Chart Pattern | Bullish Bearish | Start | End | Industry |
AFL | Pipe bottom | 10/28/2024 | 11/04/2024 | Insurance (Diversified) | |
ATO | Ugly double bottom | 11/05/2024 | 11/15/2024 | Natural Gas (Diversified) | |
BRC | Pipe top | 11/04/2024 | 11/11/2024 | Chemical (Diversified) | |
BBW | Head-and-shoulders top | 10/31/2024 | 11/11/2024 | Retail (Special Lines) | |
BG | Pipe bottom | 10/28/2024 | 11/04/2024 | Food Processing | |
CHD | Double Bottom, Adam and Eve | 10/08/2024 | 10/31/2024 | Household Products | |
CLNE | Triple top | 09/18/2024 | 11/08/2024 | Natural Gas (Distributor) | |
CNA | Double Bottom, Eve and Adam | 11/13/2024 | 11/19/2024 | Insurance (Prop/Casualty) | |
CL | Double Bottom, Adam and Eve | 11/06/2024 | 11/14/2024 | Household Products | |
D | Broadening top | 10/17/2024 | 11/01/2024 | Electric Utility (East) | |
DUK | Double Top, Adam and Adam | 10/21/2024 | 10/24/2024 | Electric Utility (East) | |
EIX | Three Falling Peaks | 09/04/2024 | 10/25/2024 | Electric Utility (West) | |
EXPI | Pipe top | 11/04/2024 | 11/11/2024 | E-Commerce | |
FMC | Double Top, Adam and Adam | 09/27/2024 | 10/31/2024 | Chemical (Basic) | |
GIS | Double Top, Eve and Eve | 09/10/2024 | 09/18/2024 | Food Processing | |
GOOGL | Double Top, Adam and Eve | 10/30/2024 | 11/12/2024 | Internet | |
GPRO | Pipe top | 11/04/2024 | 11/11/2024 | Electronics | |
HIG | Ugly double bottom | 11/01/2024 | 11/19/2024 | Insurance (Prop/Casualty) | |
HOLX | Triangle, descending | 11/05/2024 | 11/21/2024 | Medical Supplies | |
HD | Double Top, Adam and Adam | 10/09/2024 | 10/15/2024 | Retail Building Supply | |
INCY | Pipe top | 11/04/2024 | 11/11/2024 | Drug | |
KEYS | Double Bottom, Adam and Eve | 10/31/2024 | 11/19/2024 | Precision Instrument | |
KMB | Double Bottom, Adam and Adam | 11/06/2024 | 11/14/2024 | Household Products | |
LHX | Pipe top | 11/11/2024 | 11/11/2024 | Aerospace/Defense | |
LRCX | Double Top, Eve and Adam | 10/25/2024 | 11/07/2024 | Semiconductor Cap Equip. | |
LANC | Pipe top | 11/04/2024 | 11/11/2024 | Food Processing | |
LEN | Triangle, symmetrical | 10/29/2024 | 11/15/2024 | Homebuilding | |
MHO | Triple top | 09/19/2024 | 10/17/2024 | Homebuilding | |
M | Double Top, Eve and Adam | 10/17/2024 | 11/07/2024 | Retail Store | |
MCHX | Horn top | 10/28/2024 | 11/11/2024 | Advertising | |
MU | Triple top | 09/26/2024 | 11/08/2024 | Semiconductor | |
NTAP | Double Bottom, Eve and Eve | 10/31/2024 | 11/14/2024 | Computers and Peripherals | |
JWN | Triple top | 10/29/2024 | 11/13/2024 | Retail Store | |
NUS | Triple bottom | 10/10/2024 | 11/08/2024 | Toiletries/Cosmetics | |
OLN | Pipe top | 11/04/2024 | 11/11/2024 | Chemical (Basic) | |
OMC | Double Top, Eve and Adam | 10/17/2024 | 11/06/2024 | Advertising | |
ASGN | Pipe top | 11/04/2024 | 11/11/2024 | Human Resources | |
ROP | Double Top, Adam and Adam | 11/08/2024 | 11/13/2024 | Industrial Services | |
SBH | Broadening top | 10/30/2024 | 11/15/2024 | Toiletries/Cosmetics | |
SAND | Head-and-shoulders top | 09/24/2024 | 11/07/2024 | Metals and Mining (Div.) | |
SKX | Triangle, descending | 09/19/2024 | 11/21/2024 | Shoe | |
SWX | Double Bottom, Adam and Eve | 10/29/2024 | 11/05/2024 | Natural Gas (Distributor) | |
SR | Pipe bottom | 10/28/2024 | 11/04/2024 | Natural Gas (Distributor) | |
TGT | Dead-cat bounce | 11/20/2024 | 11/20/2024 | Retail Store | |
TDC | Double Bottom, Eve and Eve | 11/05/2024 | 11/19/2024 | Computer Software and Svcs | |
TXN | Pipe top | 11/04/2024 | 11/11/2024 | Semiconductor | |
TREX | Double Top, Adam and Adam | 11/06/2024 | 11/11/2024 | Building Materials | |
UGI | Double Bottom, Eve and Adam | 11/05/2024 | 11/14/2024 | Natural Gas (Distributor) | |
VEEV | Pipe top | 11/04/2024 | 11/11/2024 | Healthcare Information | |
VRTX | Pipe top | 11/04/2024 | 11/11/2024 | Biotechnology | |
VC | Triple top | 10/24/2024 | 11/14/2024 | Electronics | |
XEL | Double Bottom, Eve and Adam | 10/10/2024 | 10/30/2024 | Electric Utility (West) |
$ $ $
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.
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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.
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The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.
-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)
© 2024 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 17,523.27 | ||
Weekly S2 | 18,208.49 | 685.23 | |
Monthly S1 | 18,244.70 | 36.21 | |
Weekly S1 | 18,587.32 | 342.61 | |
Daily S2 | 18,637.96 | 50.64 | |
Low | 18,724.39 | 86.43 | |
Daily S1 | 18,802.05 | 77.66 | |
Monthly Pivot | 18,805.39 | 3.34 | Yes! The Monthly Pivot is close to the Daily S1. |
61.8% Down from Intraday High | 18,820.09 | 14.70 | Yes! The 61.8% Down from Intraday High is close to the Monthly Pivot. |
50% Down from Intraday High | 18,849.65 | 29.56 | |
38.2% Down from Intraday High | 18,879.21 | 29.56 | |
Daily Pivot | 18,888.48 | 9.27 | Yes! The Daily Pivot is close to the 38.2% Down from Intraday High. |
Close | 18,966.14 | 77.66 | |
Open | 18,971.31 | 5.17 | Yes! The Open is close to the Close. |
High | 18,974.91 | 3.60 | Yes! The High is close to the Open. |
Weekly Pivot | 18,976.69 | 1.78 | Yes! The Weekly Pivot is close to the High. |
Daily R1 | 19,052.57 | 75.88 | |
Daily R2 | 19,139.00 | 86.43 | |
Weekly R1 | 19,355.52 | 216.52 | |
Monthly R1 | 19,526.82 | 171.31 | |
Weekly R2 | 19,744.89 | 218.07 | |
Monthly R2 | 20,087.51 | 342.61 |
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.
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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)
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I show another slider trading quiz featuring Watsco: WSO stock.
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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.
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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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)
© 2024 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 40,334.73 | ||
Monthly S1 | 41,862.17 | 1,527.43 | |
Weekly S2 | 42,605.97 | 743.80 | |
Weekly S1 | 42,997.79 | 391.81 | |
Monthly Pivot | 43,174.43 | 176.65 | |
Daily S2 | 43,189.52 | 15.09 | Yes! The Daily S2 is close to the Monthly Pivot. |
Daily S1 | 43,289.56 | 100.04 | |
Low | 43,297.57 | 8.01 | Yes! The Low is close to the Daily S1. |
61.8% Down from Intraday High | 43,377.06 | 79.49 | |
Close | 43,389.60 | 12.54 | Yes! The Close is close to the 61.8% Down from Intraday High. |
Daily Pivot | 43,397.61 | 8.01 | Yes! The Daily Pivot is close to the Close. |
50% Down from Intraday High | 43,401.61 | 4.00 | Yes! The 50% Down from Intraday High is close to the Daily Pivot. |
38.2% Down from Intraday High | 43,426.17 | 24.55 | |
Open | 43,431.89 | 5.72 | Yes! The Open is close to the 38.2% Down from Intraday High. |
Daily R1 | 43,497.65 | 65.76 | |
High | 43,505.66 | 8.01 | Yes! The High is close to the Daily R1. |
Daily R2 | 43,605.70 | 100.04 | |
Weekly Pivot | 43,742.24 | 136.54 | |
Weekly R1 | 44,134.05 | 391.81 | |
Monthly R1 | 44,701.87 | 567.81 | |
Weekly R2 | 44,878.51 | 176.64 | |
Monthly R2 | 46,014.13 | 1,135.62 |
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.
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.
No options expire this week.
The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.
Index | S2 | S1 | Pivot | R1 | R2 |
Dow Industrials (^DJI): Daily | 43,184 | 43,314 | 43,481 | 43,612 | 43,778 |
Weekly | 42,624 | 43,035 | 43,761 | 44,171 | 44,897 |
Monthly | 40,353 | 41,899 | 43,193 | 44,739 | 46,033 |
S&P500 (^GSPC): Daily | 5,817 | 5,844 | 5,880 | 5,906 | 5,942 |
Weekly | 5,749 | 5,810 | 5,914 | 5,974 | 6,078 |
Monthly | 5,541 | 5,706 | 5,861 | 6,026 | 6,182 |
Nasdaq (^IXIC): Daily | 18,399 | 18,540 | 18,738 | 18,879 | 19,077 |
Weekly | 18,113 | 18,397 | 18,881 | 19,165 | 19,650 |
Monthly | 17,428 | 18,054 | 18,710 | 19,336 | 19,992 |
Here are the formulas:
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.
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-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)
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.
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You can find setups based on a Fibonacci retrace by clicking on the link.
The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.
In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.
For details about the chart patterns, click here.
-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)
Symbol | Chart Pattern | Bullish Bearish | Start | End | Industry |
DDD | Dead-cat bounce | 11/14/2024 | 11/14/2024 | Electronics | |
ACN | Pipe bottom | 10/28/2024 | 11/04/2024 | IT Services | |
AMED | Double Top, Eve and Adam | 10/18/2024 | 11/06/2024 | Medical Services | |
AMGN | Double Top, Eve and Eve | 10/11/2024 | 11/08/2024 | Biotechnology | |
AMN | Dead-cat bounce | 11/08/2024 | 11/08/2024 | Human Resources | |
ASH | Triple top | 10/15/2024 | 11/06/2024 | Chemical (Basic) | |
BZH | Falling wedge | 09/18/2024 | 11/08/2024 | Homebuilding | |
BIO | Horn bottom | 09/09/2024 | 09/23/2024 | Medical Supplies | |
BKH | Pipe bottom | 10/28/2024 | 11/04/2024 | Electric Utility (West) | |
BA | Head-and-shoulders top | 10/07/2024 | 11/05/2024 | Aerospace/Defense | |
CALM | Double Bottom, Eve and Eve | 10/23/2024 | 11/01/2024 | Food Processing | |
CLF | Triple top | 10/18/2024 | 11/06/2024 | Metals and Mining (Div.) | |
CXW | Flag, high and tight | 09/11/2024 | 11/08/2024 | Industrial Services | |
CCK | Head-and-shoulders top | 09/25/2024 | 11/06/2024 | Packaging and Container | |
EVRG | Double Bottom, Eve and Eve | 10/10/2024 | 11/04/2024 | Electric Utility (Central) | |
EVH | Dead-cat bounce | 11/08/2024 | 11/08/2024 | Healthcare Information | |
FMC | Pipe top | 10/28/2024 | 11/04/2024 | Chemical (Basic) | |
FTV | Pipe bottom | 10/28/2024 | 11/04/2024 | Industrial Services | |
GAP | Pipe bottom | 10/28/2024 | 11/04/2024 | Apparel | |
HTLD | Broadening bottom | 08/09/2024 | 11/14/2024 | Trucking/Transp. Leasing | |
HSIC | Head-and-shoulders complex top | 08/27/2024 | 10/18/2024 | Medical Supplies | |
HOLX | Double Top, Eve and Adam | 08/09/2024 | 11/04/2024 | Medical Supplies | |
LAMR | Head-and-shoulders top | 09/23/2024 | 11/07/2024 | Advertising | |
RAMP | Triangle, descending | 09/11/2024 | 10/25/2024 | Computer Software and Svcs | |
NJR | Double Bottom, Eve and Adam | 10/10/2024 | 11/05/2024 | Natural Gas (Distributor) | |
PYPL | Pipe bottom | 10/28/2024 | 11/04/2024 | Financial Services | |
PETS | Flag | 11/08/2024 | 11/14/2024 | Medical Services | |
PPL | Double Bottom, Eve and Adam | 10/11/2024 | 11/01/2024 | Electric Utility (East) | |
SAND | Horn top | 10/21/2024 | 11/04/2024 | Metals and Mining (Div.) | |
TDOC | Broadening top | 10/14/2024 | 11/11/2024 | Healthcare Information | |
TJX | Double Bottom, Eve and Eve | 10/07/2024 | 11/04/2024 | Retail Store | |
TG | Dead-cat bounce | 11/11/2024 | 11/11/2024 | Chemical (Specialty) | |
MDRX | Triple bottom | 10/08/2024 | 11/04/2024 | Healthcare Information |
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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.
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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)
© 2024 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 17,398.32 | ||
Weekly S2 | 17,681.64 | 283.32 | |
Monthly S1 | 18,314.53 | 632.88 | |
Weekly S1 | 18,456.19 | 141.66 | |
Monthly Pivot | 18,816.54 | 360.36 | |
Weekly Pivot | 18,887.37 | 70.83 | |
Daily S2 | 19,092.76 | 205.39 | |
Daily S1 | 19,161.75 | 68.98 | |
Low | 19,191.13 | 29.38 | |
Close | 19,230.73 | 39.60 | |
61.8% Down from Intraday High | 19,255.06 | 24.33 | |
Daily Pivot | 19,260.11 | 5.05 | Yes! The Daily Pivot is close to the 61.8% Down from Intraday High. |
50% Down from Intraday High | 19,274.80 | 14.69 | Yes! The 50% Down from Intraday High is close to the Daily Pivot. |
Open | 19,286.76 | 11.96 | Yes! The Open is close to the 50% Down from Intraday High. |
38.2% Down from Intraday High | 19,294.55 | 7.79 | Yes! The 38.2% Down from Intraday High is close to the Open. |
Daily R1 | 19,329.10 | 34.54 | |
High | 19,358.48 | 29.38 | |
Daily R2 | 19,427.46 | 68.98 | |
Weekly R1 | 19,661.92 | 234.45 | |
Monthly R1 | 19,732.75 | 70.83 | |
Weekly R2 | 20,093.10 | 360.36 | |
Monthly R2 | 20,234.76 | 141.66 |
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.
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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)
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I show another slider trading quiz featuring Werner Enterprises: WERN stock.
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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.
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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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)
© 2024 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 40,855.52 | ||
Weekly S2 | 40,855.52 | 0.00 | Yes! The Weekly S2 is close to the Monthly S2. |
Weekly S1 | 42,574.32 | 1,718.81 | |
Monthly S1 | 42,574.32 | 0.00 | Yes! The Monthly S1 is close to the Weekly S1. |
Monthly Pivot | 43,365.81 | 791.48 | |
Weekly Pivot | 43,365.81 | 0.00 | Yes! The Weekly Pivot is close to the Monthly Pivot. |
Daily S2 | 43,850.11 | 484.30 | |
Low | 44,057.65 | 207.54 | |
Open | 44,057.65 | 0.00 | Yes! The Open is close to the Low. |
Daily S1 | 44,071.62 | 13.97 | Yes! The Daily S1 is close to the Open. |
61.8% Down from Intraday High | 44,221.55 | 149.93 | |
50% Down from Intraday High | 44,272.18 | 50.63 | |
Daily Pivot | 44,279.16 | 6.98 | Yes! The Daily Pivot is close to the 50% Down from Intraday High. |
Close | 44,293.13 | 13.97 | Yes! The Close is close to the Daily Pivot. |
38.2% Down from Intraday High | 44,322.80 | 29.68 | Yes! The 38.2% Down from Intraday High is close to the Close. |
High | 44,486.70 | 163.89 | |
Daily R1 | 44,500.67 | 13.97 | Yes! The Daily R1 is close to the High. |
Daily R2 | 44,708.21 | 207.54 | |
Weekly R1 | 45,084.61 | 376.40 | |
Monthly R1 | 45,084.61 | 0.00 | Yes! The Monthly R1 is close to the Weekly R1. |
Monthly R2 | 45,876.10 | 791.48 | |
Weekly R2 | 45,876.10 | 0.00 | Yes! The Weekly R2 is close to the Monthly R2. |
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.
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.
Many options expire this week, so traders will be looking to close out their positions, and that suggests increased volatility (large daily price swings).
The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.
Index | S2 | S1 | Pivot | R1 | R2 |
Dow Industrials (^DJI): Daily | 43,537 | 43,763 | 43,960 | 44,186 | 44,383 |
Weekly | 40,754 | 42,372 | 43,264 | 44,882 | 45,775 |
Monthly | 40,754 | 42,372 | 43,264 | 44,882 | 45,775 |
S&P500 (^GSPC): Daily | 5,959 | 5,977 | 5,995 | 6,013 | 6,031 |
Weekly | 5,586 | 5,791 | 5,902 | 6,106 | 6,217 |
Monthly | 5,573 | 5,784 | 5,898 | 6,110 | 6,224 |
Nasdaq (^IXIC): Daily | 19,182 | 19,235 | 19,277 | 19,329 | 19,371 |
Weekly | 17,700 | 18,494 | 18,906 | 19,699 | 20,112 |
Monthly | 17,417 | 18,352 | 18,835 | 19,770 | 20,253 |
Here are the formulas:
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.
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-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)
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.
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You can find setups based on a Fibonacci retrace by clicking on the link.
The following patterns were found manually, not using Patternz. Mr. Bulkowski has excluded any securities he owns from appearing in the list. However, he may add any of the securities listed to his portfolio at any time, just as you can.
In the table below, the red and green colors are based on the historical breakout direction for the associated chart pattern. If a high and tight flag appears, the start and end dates highlight the flagpole only and not the flag.
For details about the chart patterns, click here.
-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)
Symbol | Chart Pattern | Bullish Bearish | Start | End | Industry |
DDD | Flag, high and tight | 09/09/2024 | 10/28/2024 | Electronics | |
MMM | Double Bottom, Adam and Adam | 10/25/2024 | 11/05/2024 | Diversified Co. | |
ANF | Pipe top | 10/14/2024 | 10/21/2024 | Apparel | |
ABM | Double Bottom, Eve and Eve | 10/25/2024 | 11/01/2024 | Industrial Services | |
AXDX | Triangle, ascending | 09/03/2024 | 11/07/2024 | Medical Services | |
ADTN | Triple bottom | 10/23/2024 | 11/05/2024 | Telecom. Equipment | |
AMD | Head-and-shoulders top | 09/26/2024 | 10/29/2024 | Semiconductor | |
AFL | Double Top, Adam and Eve | 10/04/2024 | 10/18/2024 | Insurance (Diversified) | |
ALRM | Head-and-shoulders complex bottom | 09/11/2024 | 11/04/2024 | Computer Software and Svcs | |
ALGT | Flag, high and tight | 09/10/2024 | 11/07/2024 | Air Transport | |
AMWD | Pipe top | 10/14/2024 | 10/21/2024 | Building Materials | |
ANIK | Dead-cat bounce | 10/31/2024 | 10/31/2024 | Biotechnology | |
AR | Broadening bottom | 10/15/2024 | 11/07/2024 | Natural Gas (Diversified) | |
APOG | Double Bottom, Eve and Eve | 10/24/2024 | 10/31/2024 | Building Materials | |
AMAT | Double Bottom, Adam and Eve | 10/23/2024 | 10/31/2024 | Semiconductor Cap Equip. | |
ARCB | Double Bottom, Adam and Adam | 10/23/2024 | 11/01/2024 | Trucking/Transp. Leasing | |
ANET | Double Bottom, Adam and Adam | 10/15/2024 | 10/31/2024 | E-Commerce | |
AVY | Diamond top | 08/26/2024 | 10/18/2024 | Packaging and Container | |
AVA | Double Top, Eve and Eve | 10/15/2024 | 10/24/2024 | Electric Utility (West) | |
BALL | Triple top | 09/17/2024 | 10/18/2024 | Packaging and Container | |
BSET | Double Bottom, Eve and Adam | 10/15/2024 | 10/28/2024 | Furn/Home Furnishings | |
BERY | Broadening top | 09/26/2024 | 11/05/2024 | Packaging and Container | |
BKH | Triple top | 09/17/2024 | 10/16/2024 | Electric Utility (West) | |
BOOT | Dead-cat bounce | 10/29/2024 | 10/29/2024 | Shoe | |
BAH | Double Top, Adam and Adam | 10/25/2024 | 11/06/2024 | IT Services | |
CE | Dead-cat bounce | 11/05/2024 | 11/05/2024 | Chemical (Basic) | |
CLS | Flag, high and tight | 09/10/2024 | 11/07/2024 | Electronics | |
CENX | Flag, high and tight | 09/11/2024 | 11/07/2024 | Metals and Mining (Div.) | |
CLNE | Double Bottom, Adam and Adam | 10/11/2024 | 10/24/2024 | Natural Gas (Distributor) | |
CNX | Double Bottom, Adam and Eve | 10/15/2024 | 11/01/2024 | Natural Gas (Diversified) | |
CGNX | Double Bottom, Adam and Adam | 10/10/2024 | 10/24/2024 | Precision Instrument | |
CMTL | Dead-cat bounce | 11/01/2024 | 11/01/2024 | Telecom. Equipment | |
CR | Pipe bottom | 10/21/2024 | 10/28/2024 | Diversified Co. | |
CW | Double Bottom, Eve and Adam | 10/25/2024 | 10/31/2024 | Machinery | |
XRAY | Dead-cat bounce | 11/07/2024 | 11/07/2024 | Medical Supplies | |
DDS | Ugly double bottom | 09/11/2024 | 10/14/2024 | Retail Store | |
^DJU | Broadening top | 09/16/2024 | 11/06/2024 | None | |
EXP | Double Bottom, Eve and Adam | 10/07/2024 | 10/29/2024 | Cement and Aggregates | |
EBAY | Triple top | 10/08/2024 | 10/15/2024 | Internet | |
EME | Pipe bottom | 10/21/2024 | 10/28/2024 | Industrial Services | |
EQT | Double Bottom, Eve and Adam | 10/23/2024 | 11/01/2024 | Natural Gas (Diversified) | |
EL | Dead-cat bounce | 10/31/2024 | 10/31/2024 | Toiletries/Cosmetics | |
EXC | Head-and-shoulders complex top | 09/20/2024 | 10/24/2024 | Electric Utility (East) | |
FARO | Triple bottom | 10/10/2024 | 11/05/2024 | Precision Instrument | |
FWRD | Head-and-shoulders top | 10/09/2024 | 10/30/2024 | Trucking/Transp. Leasing | |
FCX | Double Bottom, Adam and Adam | 10/31/2024 | 11/06/2024 | Metals and Mining (Div.) | |
GD | Triple top | 09/16/2024 | 10/23/2024 | Aerospace/Defense | |
GPN | Triple bottom | 09/25/2024 | 10/30/2024 | Computer Software and Svcs | |
GMS | Triple bottom | 09/25/2024 | 10/23/2024 | Cement and Aggregates | |
GOOGL | Ugly double bottom | 09/09/2024 | 10/09/2024 | Internet | |
HLIT | Dead-cat bounce | 10/29/2024 | 10/29/2024 | Telecom. Equipment | |
HE | Ugly double bottom | 10/02/2024 | 10/23/2024 | Electric Utility (West) | |
HQY | Double Top, Eve and Eve | 10/21/2024 | 10/25/2024 | Healthcare Information | |
HL | Double Top, Adam and Adam | 09/26/2024 | 10/22/2024 | Metals and Mining (Div.) | |
HNI | Pipe top | 10/14/2024 | 10/21/2024 | Furn/Home Furnishings | |
DHI | Pipe top | 10/14/2024 | 10/21/2024 | Homebuilding | |
HUBG | Double Bottom, Adam and Adam | 08/02/2024 | 10/31/2024 | Trucking/Transp. Leasing | |
IDA | Double Bottom, Eve and Adam | 10/10/2024 | 10/31/2024 | Electric Utility (West) | |
ITW | Double Bottom, Adam and Eve | 10/08/2024 | 10/29/2024 | Metal Fabricating | |
IIIN | Double Bottom, Eve and Eve | 10/21/2024 | 10/31/2024 | Building Materials | |
INTC | Triple bottom | 10/03/2024 | 10/31/2024 | Semiconductor | |
INTU | Triple bottom | 10/03/2024 | 11/01/2024 | Computer Software and Svcs | |
JAZZ | Double Bottom, Adam and Adam | 10/24/2024 | 11/05/2024 | Biotechnology | |
JNJ | Double Top, Adam and Adam | 10/15/2024 | 10/23/2024 | Medical Supplies | |
KBH | Head-and-shoulders top | 08/26/2024 | 10/18/2024 | Homebuilding | |
KELYA | Dead-cat bounce | 11/07/2024 | 11/07/2024 | Human Resources | |
KMT | Triangle, symmetrical | 09/27/2024 | 11/01/2024 | Metal Fabricating | |
KSS | Double Top, Adam and Adam | 09/30/2024 | 10/22/2024 | Retail Store | |
LH | Double Bottom, Adam and Adam | 10/28/2024 | 11/05/2024 | Medical Services | |
LANC | Double Bottom, Adam and Adam | 10/22/2024 | 10/31/2024 | Food Processing | |
RAMP | Triple bottom | 09/11/2024 | 10/23/2024 | Computer Software and Svcs | |
L | Broadening bottom | 09/11/2024 | 11/06/2024 | Insurance (Prop/Casualty) | |
MHO | Pipe top | 10/14/2024 | 10/21/2024 | Homebuilding | |
MANH | Double Bottom, Adam and Eve | 10/23/2024 | 10/31/2024 | IT Services | |
MRTN | Double Bottom, Eve and Adam | 10/22/2024 | 10/31/2024 | Trucking/Transp. Leasing | |
MTRN | Double Bottom, Adam and Adam | 10/24/2024 | 10/31/2024 | Metals and Mining (Div.) | |
MTRX | Triangle, descending | 10/02/2024 | 11/05/2024 | Oilfield Svcs/Equipment | |
MDT | Double Top, Adam and Eve | 10/18/2024 | 10/24/2024 | Medical Supplies | |
META | Triple top | 10/07/2024 | 10/30/2024 | E-Commerce | |
MGEE | Double Bottom, Eve and Adam | 10/09/2024 | 11/04/2024 | Electric Utility (Central) | |
MYGN | Dead-cat bounce | 11/01/2024 | 11/01/2024 | Biotechnology | |
^IXIC | Broadening top | 10/15/2024 | 10/31/2024 | None | |
NOV | Double Bottom, Adam and Eve | 10/24/2024 | 11/01/2024 | Oilfield Svcs/Equipment | |
NEU | Triple bottom | 10/08/2024 | 11/05/2024 | Chemical (Specialty) | |
NEE | Triple top | 09/16/2024 | 10/23/2024 | Electric Utility (East) | |
NKE | Head-and-shoulders top | 08/27/2024 | 10/17/2024 | Shoe | |
NI | Broadening top, right-angled and descending | 10/22/2024 | 11/07/2024 | Electric Utility (Central) | |
NOC | Double Bottom, Adam and Adam | 10/30/2024 | 11/04/2024 | Aerospace/Defense | |
OGE | Double Bottom, Eve and Adam | 10/07/2024 | 11/05/2024 | Electric Utility (Central) | |
ORI | Double Bottom, Eve and Eve | 10/25/2024 | 11/04/2024 | Insurance (Prop/Casualty) | |
OXM | Pipe top | 10/14/2024 | 10/21/2024 | Apparel | |
PANW | Double Bottom, Adam and Eve | 10/23/2024 | 11/04/2024 | Computer Software and Svcs | |
PYPL | Double Bottom, Adam and Adam | 10/29/2024 | 11/01/2024 | Financial Services | |
PEN | Double Bottom, Adam and Adam | 10/17/2024 | 10/23/2024 | Medical Supplies | |
PETS | Triangle, ascending | 10/03/2024 | 11/01/2024 | Medical Services | |
PFE | Double Top, Eve and Adam | 09/19/2024 | 10/09/2024 | Drug | |
PNW | Double Bottom, Eve and Adam | 10/10/2024 | 11/04/2024 | Electric Utility (West) | |
PPG | Head-and-shoulders top | 08/30/2024 | 10/17/2024 | Chemical (Diversified) | |
PHM | Pipe top | 10/14/2024 | 10/14/2024 | Homebuilding | |
RL | Double Bottom, Eve and Adam | 10/23/2024 | 11/01/2024 | Apparel | |
RRC | Double Bottom, Adam and Adam | 10/18/2024 | 11/01/2024 | Petroleum (Producing) | |
RGS | Horn top | 09/23/2024 | 10/07/2024 | Toiletries/Cosmetics | |
ROK | Double Bottom, Adam and Adam | 10/23/2024 | 11/04/2024 | Diversified Co. | |
RCKY | Dead-cat bounce | 10/31/2024 | 10/31/2024 | Shoe | |
ROG | Head-and-shoulders bottom | 10/10/2024 | 11/01/2024 | Electronics | |
ROP | Double Bottom, Adam and Adam | 10/23/2024 | 11/04/2024 | Industrial Services | |
RGLD | Double Top, Adam and Adam | 10/21/2024 | 10/29/2024 | Metals and Mining (Div.) | |
R | Pipe bottom | 10/21/2024 | 10/28/2024 | Trucking/Transp. Leasing | |
SAIA | Double Bottom, Adam and Eve | 10/07/2024 | 10/24/2024 | Trucking/Transp. Leasing | |
SMG | Dead-cat bounce | 11/06/2024 | 11/06/2024 | Chemical (Basic) | |
SMTC | Pipe bottom | 09/30/2024 | 10/07/2024 | Semiconductor Cap Equip. | |
SXI | Double Bottom, Eve and Eve | 10/10/2024 | 10/23/2024 | Diversified Co. | |
SSYS | Head-and-shoulders bottom | 10/15/2024 | 10/31/2024 | Electronics | |
SNPS | Double Bottom, Eve and Adam | 10/07/2024 | 10/23/2024 | Computer Software and Svcs | |
TPX | Double Bottom, Adam and Adam | 10/25/2024 | 11/01/2024 | Furn/Home Furnishings | |
TXT | Double Bottom, Adam and Eve | 10/24/2024 | 11/01/2024 | Diversified Co. | |
TKR | Double Top, Adam and Eve | 09/27/2024 | 10/18/2024 | Metal Fabricating | |
RIG | Double Bottom, Adam and Eve | 10/15/2024 | 10/29/2024 | Oilfield Svcs/Equipment | |
UIS | Pipe bottom | 10/21/2024 | 10/28/2024 | Computers and Peripherals | |
VRSN | Triple top | 09/30/2024 | 10/25/2024 | Internet | |
VRTX | Double Bottom, Adam and Adam | 10/23/2024 | 11/01/2024 | Biotechnology | |
WRB | Pipe top | 10/14/2024 | 10/21/2024 | Insurance (Prop/Casualty) | |
WERN | Triple bottom | 09/11/2024 | 10/30/2024 | Trucking/Transp. Leasing | |
WPM | Double Top, Adam and Adam | 10/22/2024 | 10/29/2024 | Metals and Mining (Div.) | |
WSC | Ugly double bottom | 08/07/2024 | 09/09/2024 | Industrial Services | |
WOLF | Dead-cat bounce | 11/07/2024 | 11/07/2024 | Semiconductor | |
WWD | Double Bottom, Adam and Adam | 10/24/2024 | 11/04/2024 | Precision Instrument | |
WDAY | Double Bottom, Eve and Eve | 10/02/2024 | 11/01/2024 | Computer Software and Svcs |
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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.
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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.
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The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.
-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)
© 2024 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 17,494.55 | ||
Weekly S2 | 17,916.10 | 421.55 | |
Monthly S1 | 18,239.01 | 322.91 | |
Weekly S1 | 18,449.78 | 210.77 | |
Monthly Pivot | 18,512.25 | 62.47 | |
Weekly Pivot | 18,617.64 | 105.39 | |
Daily S2 | 18,634.44 | 16.80 | Yes! The Daily S2 is close to the Weekly Pivot. |
Low | 18,730.21 | 95.77 | |
Open | 18,772.76 | 42.55 | |
Daily S1 | 18,808.95 | 36.19 | |
61.8% Down from Intraday High | 18,833.46 | 24.51 | Yes! The 61.8% Down from Intraday High is close to the Daily S1. |
50% Down from Intraday High | 18,865.36 | 31.89 | |
38.2% Down from Intraday High | 18,897.25 | 31.89 | |
Daily Pivot | 18,904.73 | 7.48 | Yes! The Daily Pivot is close to the 38.2% Down from Intraday High. |
Close | 18,983.47 | 78.74 | |
High | 19,000.50 | 17.03 | Yes! The High is close to the Close. |
Daily R1 | 19,079.24 | 78.74 | |
Weekly R1 | 19,151.32 | 72.08 | |
Daily R2 | 19,175.02 | 23.69 | Yes! The Daily R2 is close to the Weekly R1. |
Monthly R1 | 19,256.71 | 81.69 | |
Weekly R2 | 19,319.18 | 62.46 | |
Monthly R2 | 19,529.95 | 210.77 |
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.
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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.
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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)
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I show another slider trading quiz featuring Williams-Sonoma (WSM) stock.
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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.
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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, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)
© 2024 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 40,654.31 | ||
Weekly S2 | 41,209.80 | 555.49 | |
Monthly S1 | 41,224.46 | 14.66 | Yes! The Monthly S1 is close to the Weekly S2. |
Daily S2 | 41,436.95 | 212.50 | |
Weekly S1 | 41,502.20 | 65.25 | |
Daily S1 | 41,615.78 | 113.58 | |
Low | 41,647.00 | 31.22 | Yes! The Low is close to the Daily S1. |
Close | 41,794.60 | 147.60 | |
61.8% Down from Intraday High | 41,795.55 | 0.95 | Yes! The 61.8% Down from Intraday High is close to the Close. |
Daily Pivot | 41,825.82 | 30.28 | Yes! The Daily Pivot is close to the 61.8% Down from Intraday High. |
50% Down from Intraday High | 41,841.43 | 15.61 | Yes! The 50% Down from Intraday High is close to the Daily Pivot. |
38.2% Down from Intraday High | 41,887.32 | 45.89 | |
Weekly Pivot | 41,997.03 | 109.71 | |
Daily R1 | 42,004.65 | 7.62 | Yes! The Daily R1 is close to the Weekly Pivot. |
Open | 42,004.66 | 0.01 | Yes! The Open is close to the Daily R1. |
High | 42,035.87 | 31.21 | Yes! The High is close to the Open. |
Daily R2 | 42,214.69 | 178.82 | |
Monthly Pivot | 42,274.77 | 60.08 | |
Weekly R1 | 42,289.43 | 14.66 | Yes! The Weekly R1 is close to the Monthly Pivot. |
Weekly R2 | 42,784.26 | 494.83 | |
Monthly R1 | 42,844.92 | 60.66 | |
Monthly R2 | 43,895.23 | 1,050.32 |
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.
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.
No options expire this week.
The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.
Index | S2 | S1 | Pivot | R1 | R2 |
Dow Industrials (^DJI): Daily | 41,626 | 41,839 | 42,083 | 42,296 | 42,539 |
Weekly | 41,296 | 41,674 | 42,083 | 42,461 | 42,870 |
Monthly | 40,740 | 41,396 | 42,361 | 43,017 | 43,981 |
S&P500 (^GSPC): Daily | 5,692 | 5,711 | 5,742 | 5,760 | 5,791 |
Weekly | 5,613 | 5,671 | 5,761 | 5,819 | 5,909 |
Monthly | 5,556 | 5,642 | 5,760 | 5,847 | 5,965 |
Nasdaq (^IXIC): Daily | 18,079 | 18,160 | 18,262 | 18,342 | 18,444 |
Weekly | 17,668 | 17,954 | 18,370 | 18,656 | 19,071 |
Monthly | 17,247 | 17,743 | 18,264 | 18,761 | 19,282 |
Here are the formulas:
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.
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-- Thomas Bulkowski, author: Invest for Two-Comma Wealth and the novel (fiction), Foresight (#Ad)
Here's the updated 2024 market forecast, presented in slider format.
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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.
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