Bulkowski's Blog: ThePatternSite.com
As of 11/28/2022
  Indus: 33,849 -497.57 -1.4%  
  Trans: 14,145 -297.18 -2.1%  
  Utils: 962 -10.18 -1.0%  
  Nasdaq: 11,050 -176.86 -1.6%  
  S&P 500: 3,964 -62.18 -1.5%  
YTD
-6.8%  
-14.2%  
-1.9%  
-29.4%  
-16.8%  
  Targets    Overview: 11/11/2022  
  Up arrow35,000 or 32,000 by 12/01/2022
  Up arrow15,300 or 13,400 by 12/01/2022
  Up arrow1,000 or 925 by 12/15/2022
  Up arrow11,850 or 10,400 by 12/01/2022
  Up arrow4,150 or 3,700 by 12/01/2022
CPI (updated daily): Arrows on 11/28/22
As of 11/28/2022
  Indus: 33,849 -497.57 -1.4%  
  Trans: 14,145 -297.18 -2.1%  
  Utils: 962 -10.18 -1.0%  
  Nasdaq: 11,050 -176.86 -1.6%  
  S&P 500: 3,964 -62.18 -1.5%  
YTD
-6.8%  
-14.2%  
-1.9%  
-29.4%  
-16.8%  
  Targets    Overview: 11/11/2022  
  Up arrow35,000 or 32,000 by 12/01/2022
  Up arrow15,300 or 13,400 by 12/01/2022
  Up arrow1,000 or 925 by 12/15/2022
  Up arrow11,850 or 10,400 by 12/01/2022
  Up arrow4,150 or 3,700 by 12/01/2022
CPI (updated daily): Arrows on 11/28/22

 

October 2022 Headlines

Archives


Monday 10/31/22. Market Monday: The Week Ahead

My Prediction

Picture of the Dow utilities on the daily scale.

Highlighted in red, the chart pattern looks like a pennant. Usually I limit pennants to 3 weeks, but it's unclear if this one is too long. If it's too long, then I'll call it a falling wedge.

Circled in blue (A) is a loose looking resistance region. I don't know if it'll be strong enough to force the index to retrace. I imagine that a retrace will be dictated by what the FED does this week (raising interest rates).

B, C, and D are additional resistance regions. If the index doesn't reverse at A, then I'd look to the pennant/wedge area just below B to force a retrace. I expect that's where we'll see a reversal.

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A Brief Look Back

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

Monday: Up 417.06 points.
Tuesday: Up 337.12 points.
Wednesday: Up 2.37 points.
Thursday: Up 194.17 points.
Friday: Up 828.52 points.

For the Week...

The Dow industrials were up 1779.24 points or 5.7%.
The Nasdaq composite was up 242.73 points or 2.2%.
The S&P 500 index was up 148.31 points or 4.0%.

Year to Date...

Dow Industrials
     11.1% down from the high of 36,952.65 on 01/05/2022.
     14.7% up from the low of 28,660.94 on 10/13/2022.
Nasdaq
     30.0% down from the high of 15,852.14 on 01/04/2022.
     10.0% up from the low of 10,088.83 on 10/13/2022.
S&P 500
     19.0% down from the high of 4,818.62 on 01/04/2022.
     11.7% up from the low of 3,491.58 on 10/13/2022.

Options Expiration

No options expire this week.

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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.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  31,905  32,384  32,637  33,115  33,368 
Weekly  30,576  31,719  32,304  33,447  34,033 
Monthly  27,242  30,052  31,471  34,281  35,700 
S&P500 (^GSPC): Daily  3,774  3,838  3,872  3,935  3,969 
Weekly  3,686  3,793  3,849  3,957  4,013 
Monthly  3,352  3,627  3,766  4,040  4,180 
Nasdaq (^IXIC): Daily  10,644  10,873  10,995  11,224  11,346 
Weekly  10,512  10,807  11,009  11,304  11,506 
Monthly  9,666  10,384  10,807  11,526  11,949 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

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

Here's a symbol list of 136 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AEIS, AFL, APD, ALB, AMZN, AEO, AXP, AAPL, AMAT, ACGL, ADM, AVNT, AZTA, BALL, BZH, BOOT, BLDR, BG, CALM, CF, CLNE, CGNX, CL, CRH, CSGS, DDS, DSGR, WIRE, EXC, EZPW, FORM, GME, GNW, GILD, GES, HBI, HLIT, HSC, HAYN, HL, HELE, HOLX, HD, HOV, IDXX, ILMN, INFN, IBP, INTC, INTU, ISRG, JKHY, KBH, K, LRCX, LAMR, LOW, MHO, M, MLM, META, MS, MYGN, NCR, NI, NVDA, OMC, OTEX, OUT, PANW, PDCO, PYPL, PLXS, PPG, PINC, PFG, PGR, RNG, ROST, CRM, SCHW, SEIC, SHW, TECH, TER, TXN, TOL, UNM, VFC, VRSN, VMC, WMT, WSO, ZBRA, IYM, ITB, FXI, BOTZ, ICF, IHF, IGV, SOXX, SLV, EWO, EWG, EIS, EWI, EWJ, EWM, EWY, EWL, EWT, EWU, DBA, PJP, ROBO, IEV, SSO, XLV, XHB, XLB, XRT, SPY, SMH, VHT, VAW. Clink this link for details (pattern type, start and end dates).

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

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

This WeekLast Week
1. Petroleum (Integrated)1. Short ETFs
2. Metal Fabricating2. Petroleum (Integrated)
3. Petroleum (Producing)3. Petroleum (Producing)
4. Securities Brokerage4. Metal Fabricating
5. Machinery5. Aerospace/Defense
6. Insurance (Life)6. Machinery
7. Aerospace/Defense7. Food Processing
8. Oilfield Svcs/Equipment8. Insurance (Life)
9. Food Processing9. Trucking/Transp. Leasing
10. Short ETFs10. Securities Brokerage
Best Performing AboveWorst Performing Below
50. Computers and Peripherals50. Semiconductor
51. Air Transport51. Packaging and Container
52. Semiconductor Cap Equip.52. Advertising
53. Apparel53. Diversified Co.
54. Retail (Special Lines)54. E-Commerce
55. Medical Supplies55. Computers and Peripherals
56. Chemical (Basic)56. Semiconductor Cap Equip.
57. Semiconductor57. Apparel
58. Packaging and Container58. Retail (Special Lines)
59. E-Commerce59. Medical Supplies
60. Toiletries/Cosmetics60. Toiletries/Cosmetics

-- Thomas Bulkowski

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Friday 10/28/22. Pattern Trading Setups for the Weekend.

$ $ $

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: ABT, ANF, AEIS, AMD, ALB, AMAT, ARCB, ADSK, ADP, AVA, AZTA, BALL, BAX, BBY, BIIB, BOOT, BG, CALM, CLS, CRL, CLNE, CMCO, CAG, CONN, COST, CSGS, CTS, CMI, DRQ, BOOM, EMN, WIRE, RE, EVH, EXC, EXPD, FFIV, FICO, FLEX, FORM, FWRD, GNW, GL, GOOGL, GPRO, THG, HAYN, HQY, HTLD, HL, HOLX, HD, JBHT, HURC, INFN, INTC, IPG, IVC, KLIC, LRCX, LXU, M, MANH, MLM, MTRN, MRK, META, ^IXIC, NJR, NKE, ASGN, OTEX, OXM, PATK, PDCO, PTEN, PYPL, PLXS, PPG, PFG, QCOM, RL, RGS, RES, ^GSPC, CRM, SEIC, SRE, SMTC, NOW, SLGN, SUM, TECH, TER, UPS, VMI, V, VC, VMC, WSO, WERN, WEX, WMB, WOLF, XEL, IYC, FTEC, QTEC, FXL, IHF, SOXX, SLV, EWK, EWC, EWM, EWU, IBB, DBA, PBE, PJP, ROBO, IXN, SSO, XLB, SPY, XLK, SMH. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
MMMPipe bottom      10/03/202210/10/2022Diversified Co.
AXDXDead-cat bounce      10/24/202210/24/2022Medical Services
AJRDDouble Bottom, Eve and Adam      09/29/202210/13/2022Diversified Co.
AESDouble Bottom, Adam and Adam      10/13/202210/20/2022Electric Utility (East)
ALKDouble Bottom, Adam and Adam      10/11/202210/20/2022Air Transport
ALBPipe bottom      10/10/202210/17/2022Chemical (Diversified)
DOXDouble Bottom, Eve and Adam      09/28/202210/13/2022IT Services
AMEDScallop, descending      09/12/202210/26/2022Medical Services
AEODouble Bottom, Eve and Adam      09/30/202210/13/2022Apparel
AELUgly double bottom      09/26/202210/13/2022Insurance (Life)
AIGDouble Bottom, Eve and Eve      09/29/202210/11/2022Insurance (Prop/Casualty)
ABCTriple bottom      09/30/202210/13/2022Biotechnology
AMATPipe bottom      10/10/202210/17/2022Semiconductor Cap Equip.
ACGLUgly double bottom      09/26/202210/13/2022Insurance (Prop/Casualty)
ADMBroadening top      10/05/202210/14/2022Food Processing
ADSKDouble Bottom, Eve and Eve      09/23/202210/13/2022Computer Software and Svcs
AVNTHorn bottom      09/26/202210/10/2022Chemical (Specialty)
AVADouble Bottom, Adam and Adam      10/07/202210/13/2022Electric Utility (West)
AZTAPipe bottom      10/10/202210/17/2022Semiconductor Cap Equip.
BMIDouble Bottom, Adam and Adam      09/16/202210/13/2022Precision Instrument
BADouble Bottom, Adam and Adam      09/30/202210/13/2022Aerospace/Defense
BRCDouble Bottom, Eve and Adam      09/29/202210/13/2022Chemical (Diversified)
BFHDouble Bottom, Eve and Eve      10/12/202210/21/2022Information Services
BBWDouble Bottom, Adam and Eve      09/06/202209/30/2022Retail (Special Lines)
CENXHorn bottom      09/26/202210/10/2022Metals and Mining (Div.)
CHDHead-and-shoulders bottom      09/30/202210/21/2022Household Products
CLFUgly double bottom      09/23/202210/14/2022Metals and Mining (Div.)
CMCOHead-and-shoulders bottom      09/27/202210/20/2022Machinery
CRHDouble Bottom, Eve and Adam      09/29/202210/13/2022Cement and Aggregates
CCKDead-cat bounce      10/25/202210/25/2022Packaging and Container
XRAYHead-and-shoulders bottom      10/03/202210/21/2022Medical Supplies
DFSHead-and-shoulders bottom      09/27/202210/21/2022Financial Services
^DJIDouble Bottom, Adam and Adam      09/30/202210/13/2022None
DOVDouble Bottom, Adam and Adam      09/27/202210/13/2022Machinery
BOOMUgly double bottom      09/29/202210/14/2022Metal Fabricating
EIXDouble Bottom, Adam and Adam      10/13/202210/20/2022Electric Utility (West)
FISHead-and-shoulders bottom      10/03/202210/21/2022Computer Software and Svcs
FLEXHorn bottom      09/26/202210/10/2022Electronics
FLSBig W      09/29/202210/13/2022Machinery
FORMDead-cat bounce      10/27/202210/27/2022Semiconductor
FWRDHead-and-shoulders bottom      09/07/202210/13/2022Trucking/Transp. Leasing
FCXPipe bottom      09/19/202209/26/2022Metals and Mining (Div.)
ITDouble Bottom, Adam and Adam      10/13/202210/21/2022IT Services
GEDouble Bottom, Eve and Eve      09/30/202210/11/2022Diversified Co.
GSDouble Bottom, Eve and Adam      09/27/202210/13/2022Securities Brokerage
GFFTriple bottom      09/23/202210/20/2022Building Materials
HSCPipe bottom      09/26/202210/03/2022Diversified Co.
HSIIUgly double bottom      09/26/202210/13/2022Human Resources
HDPipe bottom      10/10/202210/17/2022Retail Building Supply
HONDouble Bottom, Eve and Eve      09/30/202210/13/2022Aerospace/Defense
DHITriple bottom      09/27/202210/21/2022Homebuilding
HURCDouble Bottom, Adam and Eve      09/01/202209/29/2022Machinery
IEXDouble Bottom, Adam and Eve      09/27/202210/13/2022Machinery
ITWDouble Bottom, Eve and Adam      09/30/202210/13/2022Metal Fabricating
INCYDouble Bottom, Eve and Adam      09/22/202210/13/2022Drug
INFNPipe bottom      10/10/202210/17/2022Telecom. Equipment
IPIPipe bottom      09/19/202209/26/2022Chemical (Diversified)
KTriple bottom      09/15/202210/07/2022Food Processing
KBALBig W      09/30/202210/13/2022Furn/Home Furnishings
KMBHead-and-shoulders bottom      10/03/202210/21/2022Household Products
LRCXPipe bottom      10/10/202210/17/2022Semiconductor Cap Equip.
LLYUgly double bottom      09/21/202210/13/2022Drug
LXUPipe bottom      09/19/202209/26/2022Building Materials
MHOUgly double bottom      09/27/202210/13/2022Homebuilding
MLMPipe bottom      10/10/202210/17/2022Cement and Aggregates
MADouble Bottom, Eve and Adam      09/28/202210/13/2022Financial Services
MTRXUgly double bottom      09/27/202210/13/2022Oilfield Svcs/Equipment
MDCDouble Bottom, Eve and Adam      09/27/202210/13/2022Homebuilding
METADead-cat bounce      10/27/202210/27/2022E-Commerce
MCODouble Bottom, Adam and Adam      10/13/202210/21/2022Information Services
MOSBig W      09/26/202210/14/2022Chemical (Diversified)
NFGDouble Bottom, Eve and Adam      09/29/202210/13/2022Natural Gas (Diversified)
NCRHead-and-shoulders bottom      09/30/202210/24/2022IT Services
NTGRHead-and-shoulders bottom      10/03/202210/19/2022Telecom. Equipment
NJRTriple bottom      10/03/202210/13/2022Natural Gas (Distributor)
NWLScallop, descending      09/12/202210/27/2022Household Products
NOCTriple bottom      09/13/202210/14/2022Aerospace/Defense
PDCOPipe bottom      09/26/202210/03/2022Medical Supplies
PLXSDouble Bottom, Eve and Adam      09/23/202210/13/2022Electronics
RJFDouble Bottom, Eve and Adam      09/29/202210/21/2022Securities Brokerage
ROKDouble Bottom, Eve and Adam      10/13/202210/21/2022Diversified Co.
ROSTDouble Bottom, Eve and Eve      09/30/202210/14/2022Retail (Special Lines)
SMGUgly double bottom      10/11/202210/21/2022Chemical (Basic)
SEICDouble Bottom, Adam and Adam      10/13/202210/21/2022IT Services
SWNTriangle, symmetrical      09/21/202210/27/2022Natural Gas (Diversified)
SRDouble Bottom, Adam and Eve      09/30/202210/11/2022Natural Gas (Distributor)
SXIDouble Bottom, Eve and Adam      09/16/202210/13/2022Diversified Co.
SCSDouble Bottom, Eve and Adam      09/30/202210/13/2022Furn/Home Furnishings
SRDXDouble Bottom, Eve and Eve      10/13/202210/21/2022Medical Supplies
TGTDouble Bottom, Eve and Adam      09/30/202210/14/2022Retail Store
TDOCDouble Bottom, Eve and Eve      10/14/202210/21/2022Healthcare Information
TERPipe bottom      10/10/202210/17/2022Semiconductor Cap Equip.
TZOODouble Bottom, Adam and Adam      10/03/202210/17/2022Internet
UGIHead-and-shoulders bottom      09/30/202210/20/2022Natural Gas (Distributor)
VDouble Bottom, Adam and Adam      09/28/202210/13/2022Financial Services
VCPipe bottom      09/26/202210/03/2022Electronics
VMCPipe bottom      10/10/202210/17/2022Cement and Aggregates
WMTDouble Bottom, Adam and Eve      09/26/202210/07/2022Retail Store
WOLFDead-cat bounce      10/27/202210/27/2022Semiconductor
MGKHead-and-shoulders bottom      09/30/202210/21/2022None

 

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Thursday 10/27/22. Crytpocurrency: Ethereum

The Nasdaq dropped by -2.0% or -228.13 points. Since 02/05/1971 the Nasdaq made 67 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.7% on 30 occasions.
     Average loss was -1.3% on 37 occasions.
Expect the Nasdaq to close lower 55.2% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 246/435 or 56.6% of the time.
     The prediction of the Nasdaq closing lower has been right 67/139 or 48.2% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

I show a picture of Ethereum on the daily scale.

The first chart pattern on the far left is a head-and-shoulders bottom. The LS (left shoulder), H (Head), and RS (right shoulder) are marked on the chart. A red neckline signals an upward breakout and a valid chart pattern at A. That breakout leads to a strong move upward, and to another chart pattern.

The middle of the chart shows a head-and-shoulders top. The blue neckline signals a valid pattern when the cryptocurrency closes below it. A pullback happens which pulls the currency higher before it tumbles to B.

Recently, on the right of the chart, BC, is a double bottom which confirms as a valid chart pattern after an upward breakout. That happens when the currency closes above line D. So far the currency has made a strong move higher.

$ $ $

Here's a symbol list of 142 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, AXDX, AYI, AEIS, ALB, AFG, ABC, AMAT, ADM, ADP, AXS, AZTA, BALL, BBBY, BERY, BA, BAH, BG, CLS, CVX, CINF, CL, CMCO, CONN, CCK, CW, XRAY, DVN, DFS, DSGR, ^DJI, DRQ, EMN, EIX, WIRE, EOG, EXC, EZPW, FIS, FE, FISV, FLS, FCX, GIS, GNW, GILD, GPN, GL, GS, THG, HSC, HAYN, HP, HSY, HNI, HOLX, HD, HURC, IEX, INFN, ITGR, TILE, IPG, JAZZ, LRCX, M, MANH, MRO, MLM, MA, MTRN, MTRX, MDT, MU, MUR, MYGN, NBR, NXGN, NI, OMI, PTEN, PPG, PINC, RGS, ROG, RES, SEE, SEIC, SLGN, SNPS, TECH, TFX, TER, TXN, TSCO, UNM, VMI, V, VMC, WRB, WSO, IYM, IAI, IYK, IYE, IEZ, IHE, IYH, SOXX, SLV, IGE, EWA, EWM, EWW, EPP, EWS, EZA, EWY, EWU, DBA, PBE, PXJ, PJP, MXI, XLF, XLV, SMH, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  9,366.39    
 Monthly S1  10,168.69  802.30   
 Weekly S2  10,398.26  229.57   
 Weekly S1  10,684.62  286.37   
 Daily S2  10,784.28  99.65   
 Weekly Pivot  10,828.80  44.52   
 Daily S1  10,877.63  48.84   
 Monthly Pivot  10,891.13  13.50   Yes! The Monthly Pivot is close to the Daily S1.
 Low  10,948.38  57.25   
 Open  10,969.02  20.64   Yes! The Open is close to the Low.
 Close  10,970.99  1.97   Yes! The Close is close to the Open.
 Daily Pivot  11,041.74  70.75   
 61.8% Down from Intraday High  11,046.73  4.99   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 50% Down from Intraday High  11,077.11  30.38   
 38.2% Down from Intraday High  11,107.49  30.38   
 Weekly R1  11,115.16  7.67   Yes! The Weekly R1 is close to the 38.2% Down from Intraday High.
 Daily R1  11,135.09  19.93   Yes! The Daily R1 is close to the Weekly R1.
 High  11,205.84  70.75   
 Weekly R2  11,259.34  53.50   
 Daily R2  11,299.20  39.86   
 Monthly R1  11,693.43  394.23   
 Monthly R2  12,415.87  722.44   

Wednesday 10/26/22. A Look At Indicators

Picture of the chart pattern indicator

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.

After I blogged about last week's CPI chart, I noticed the cluster and how it foretold of a move higher.

I'm speaking of the brown V shaped symbols I added to the cluster of signals. In March, for example, we see the CPI signal changing from bullish to bearish and back again. The cluster resulted in the index rising to A.

Peaks B and C follow clusters. The question now becomes, how far will price rise to D? My guess, a rise midway between 216 and 252 on the right scale. That scale really ends at 100, which is the upper limit for the CPI line, but it serves as a good reference for this idea.

A move that high would put it in the middle of the small September cluster. Technically speaking, that's the corrective phase of a measured move down chart pattern (an upward retrace in a downtrend).

Picture of the percent down indicators

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

Shown as a red line on the above chart...
On Tuesday, 63% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 68%.
The fewest was 21% on 11/12/2021.
And the most was 79% on 06/17/2022.
Shown as a blue line on the above chart...
The 451 stocks in my database are down an average of 29% from their yearly high.
A week ago, the average was 31%.
The peak was 12% on 11/08/2021.
And the bottom was 34% on 09/30/2022.

Both lines (red and blue) show improvement this week compared to a week ago. The two lines are following the index higher.

The two charts are bullish. I think this chart is useless because it tracks the index and usually doesn't say anything of value. You might see some divergence. You might see a failure swing.

I think the CPI is a better indicator of what's to come. So look for the index to continue higher, but we're in earnings season. A lot can happen, so maybe we'll drop tomorrow (Wednesday) because of weak earnings from Google and Microsoft, but then stage a recovery.

$ $ $

Here's a symbol list of 170 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AYI, ADTN, AEIS, AJRD, ATSG, ALB, AA, AMZN, AMAT, ATR, AWI, ARW, ATO, ADSK, AVNT, AZTA, BALL, BAX, BBBY, BERY, BIG, BMRN, BKNG, BOOT, BBW, CBT, CACI, CDNS, CAL, CPB, CE, CLS, CNC, CNP, CENX, CF, CRL, CHKP, CNA, CGNX, CONN, CCRN, CCK, CSGS, DECK, BOOM, EPAM, EXC, FMC, FCX, GD, GE, GNW, THG, HSC, HAYN, HL, HSII, HOLX, HD, DHI, HOV, HUBG, IDXX, INFN, ISRG, IVC, NVTA, KLAC, KSS, LRCX, LAMR, LDOS, RAMP, LMT, LOW, MHO, M, MANH, MAN, MLM, MU, MCO, MS, MOS, MYGN, NFG, JWN, NWPX, NUS, OGE, OTEX, OMI, PCG, PNW, PPG, PINC, RL, RMBS, RGS, RLI, ROST, CRM, SLB, SEE, SEIC, SKX, SUM, SNPS, TECH, TDC, TER, TXN, TXT, TKR, TJX, TG, SLCA, UPS, UNM, VMI, VC, VMC, WSO, WLK, WMB, WWW, IYM, BOTZ, IGV, SOXX, SLV, IHI, EWA, EWO, EWK, EWQ, EIS, EWJ, EWY, EWP, EWL, EWU, IBB, DBA, PBE, PEJ, PJP, ROBO, IEV, MXI, SMH, VAW. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

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Tuesday 10/25/22. Slider Trading Quiz! Surmodics SRDX (2)

The Dow climbed by 1.3% or 417.06 points. Since 10/01/1928 the Dow made 267 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 143 occasions.
     Average loss was -1.0% on 124 occasions.
Expect the Dow to close higher 53.6% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 250/451 or 55.4% of the time.
     The prediction of the Dow closing lower has been right 49/103 or 47.6% of the time.

$ $ $

I show another slider trading quiz featuring Surmodics: SRDX 2. stock.

$ $ $

Here's a symbol list of 167 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, AXDX, ACN, AJRD, AYX, DOX, AIG, ABC, AMGN, APH, ADP, AVNT, BALL, BSET, BECN, BZH, BIG, BAH, BRC, BFH, BMY, BBW, CDNS, CE, CENX, CTSH, CMTL, COST, COTY, CRH, CSGS, XRAY, ^DJI, D, DOV, EXP, EL, FIS, FISV, FLEX, IT, GNW, GILD, GL, GS, GOOGL, THG, HIG, HELE, HSIC, HSY, HD, HON, DHI, HOV, HURC, IDXX, INTC, KBH, KELYA, LHX, LANC, LEN, LMT, L, LXU, MAS, MRK, MU, MYGN, ^IXIC, NFG, NCR, OXY, OUT, PDCO, PAYX, PYPL, PFG, PRU, PHM, QCOM, DGX, RL, RMBS, RJF, RGA, RLI, ROST, SAIC, SMG, SHW, SWX, SWN, SNPS, TGT, TKR, TJX, TOL, TRV, TG, TREX, UNM, VMI, VRTX, WRB, WEX, WMB, ZBRA, ITA, IAI, IYK, IYC, ITB, DDM, FXI, QQQ, IYH, IHF, IYZ, IHI, EWO, EWK, EEM, EWQ, EWG, EWH, EWI, EZA, EWP, EWD, EWL, TUR, EWU, QLD, PPA, ROBO, IXC, XLY, XLP, XLF, XLV, XHB, XLI, USO, SMH, VHT, VIS, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  27,968.28    
 Monthly S1  29,733.95  1,765.67   
 Weekly S2  29,750.52  16.57   Yes! The Weekly S2 is close to the Monthly S1.
 Monthly Pivot  30,426.61  676.09   
 Weekly S1  30,625.07  198.46   
 Weekly Pivot  30,872.17  247.10   
 Daily S2  30,979.33  107.16   
 Low  31,161.41  182.08   
 Open  31,187.32  25.91   Yes! The Open is close to the Low.
 Daily S1  31,239.48  52.16   
 61.8% Down from Intraday High  31,330.34  90.86   
 50% Down from Intraday High  31,382.52  52.18   
 Daily Pivot  31,421.55  39.03   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  31,434.70  13.15   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  31,499.62  64.92   
 High  31,603.63  104.01   
 Daily R1  31,681.70  78.07   
 Weekly R1  31,746.72  65.02   
 Daily R2  31,863.77  117.05   
 Weekly R2  31,993.82  130.05   
 Monthly R1  32,192.28  198.46   
 Monthly R2  32,884.94  692.66   

Monday 10/24/22. Market Monday: The Week Ahead

My Prediction

Picture of the SPX on the daily scale.

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

The big chart pattern is a diamond bottom, as the chart shows at B. A diamond bottom breaks out upward 74% of the time according to my study of 477 patterns, documented in my book, Encyclopedia of Chart Patterns, 3rd edition (#ad)

It's hard to see on this chart but it's possible that the diamond has already broken out upward (which means a close above the trendline).

How far up will the index rise? I circled a knot of resistance at A where I think the index will stall. It might not reverse there, but I do expect it to pause.

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A Brief Look Back

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

Monday: Up 550.99 points.
Tuesday: Up 337.98 points.
Wednesday: Down 99.99 points.
Thursday: Down 90.22 points.
Friday: Up 748.97 points.

For the Week...

The Dow industrials were up 1447.73 points or 4.9%.
The Nasdaq composite was up 538.33 points or 5.2%.
The S&P 500 index was up 169.68 points or 4.7%.

Year to Date...

Dow Industrials
     15.9% down from the high of 36,952.65 on 01/05/2022.
     8.4% up from the low of 28,660.94 on 10/13/2022.
Nasdaq
     31.5% down from the high of 15,852.14 on 01/04/2022.
     7.6% up from the low of 10,088.83 on 10/13/2022.
S&P 500
     22.1% down from the high of 4,818.62 on 01/04/2022.
     7.5% up from the low of 3,491.58 on 10/13/2022.

Options Expiration

No options expire this week.

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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.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  29,890  30,486  30,803  31,399  31,716 
Weekly  29,612  30,347  30,733  31,469  31,855 
Monthly  27,829  29,456  30,288  31,914  32,746 
S&P500 (^GSPC): Daily  3,609  3,681  3,719  3,791  3,830 
Weekly  3,594  3,673  3,718  3,797  3,842 
Monthly  3,302  3,527  3,717  3,943  4,133 
Nasdaq (^IXIC): Daily  10,426  10,643  10,759  10,976  11,093 
Weekly  10,361  10,610  10,792  11,041  11,222 
Monthly  9,329  10,095  10,854  11,619  12,379 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

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

Here's a symbol list of 110 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, AXDX, ACN, AES, AIG, ADM, ADSK, AVNT, BAX, BIG, BAH, BRC, BFH, BBW, CALM, CE, CLS, CNC, CENX, CLF, CNA, CTSH, CRH, CCRN, CSGS, CMI, CW, DECK, ^DJI, DOV, EBAY, EQT, FIS, FLEX, FRD, GPS, GD, GPN, GOOGL, HAYN, HOV, HURC, IVC, KSS, LHX, LAMR, LLY, MCHX, MA, MRK, META, ^IXIC, NFG, JWN, OTEX, PLXS, RMBS, RJF, RHI, ^GSPC, SLB, SAIC, SMG, SWN, TPX, TKR, TOL, TG, SLCA, WEX, ITA, IAI, ITB, IHE, DDM, BOTZ, QQQ, EWO, ECH, EWQ, EWG, EWH, EIS, EWI, EWW, EWY, EWP, EWL, THD, QLD, PPA, PJP, IEV, SSO, MXI, XLP, XLB, SPY, XAR, UNG, USO, VAW, MGK. Clink this link for details (pattern type, start and end dates).

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

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

This WeekLast Week
1. Short ETFs1. Short ETFs
2. Petroleum (Integrated)2. Petroleum (Integrated)
3. Petroleum (Producing)3. Trucking/Transp. Leasing
4. Metal Fabricating4. Metal Fabricating
5. Aerospace/Defense5. Food Processing
6. Machinery6. Insurance (Life)
7. Food Processing7. Petroleum (Producing)
8. Insurance (Life)8. Machinery
9. Trucking/Transp. Leasing9. Shoe
10. Securities Brokerage10. Securities Brokerage
Best Performing AboveWorst Performing Below
50. Semiconductor50. Diversified Co.
51. Packaging and Container51. Chemical (Basic)
52. Advertising52. Computers and Peripherals
53. Diversified Co.53. Internet
54. E-Commerce54. Medical Supplies
55. Computers and Peripherals55. Semiconductor
56. Semiconductor Cap Equip.56. Retail (Special Lines)
57. Apparel57. Semiconductor Cap Equip.
58. Retail (Special Lines)58. E-Commerce
59. Medical Supplies59. Toiletries/Cosmetics
60. Toiletries/Cosmetics60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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Friday 10/21/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 140 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, AXDX, ACN, ADTN, ALKS, ALL, AEP, APH, ANIK, AON, APOG, AMAT, AWI, ARW, ATO, ADP, AVNT, AVA, BECN, BZH, BIO, BMRN, BOOT, BRC, BFH, CALM, CAL, CPB, CE, CNC, CENX, CLF, CMTL, COP, GLW, COTY, CR, DOV, EIX, WIRE, EFX, EQT, RE, EZPW, FFIV, FISV, FIVN, FLEX, GD, GE, GNW, HBI, HP, HOLX, HD, HOV, HUBG, HURC, IIIN, IVC, JAZZ, KALU, KMB, LRCX, LLY, LOW, MAN, MCHX, MRK, MGEE, MLKN, MYGN, NBR, NFG, NWL, NEU, NKE, NWPX, OGE, OMCL, PPL, PEG, RJF, RGA, RNG, SMG, SEE, SHW, SKX, SO, SWX, SWN, SR, TECH, TMO, TOL, RIG, TREX, UNM, VFC, VMI, VRSN, WSM, XEL, IYE, ITB, DDM, FDN, IHI, EWO, EWK, EWZ, EWG, EWI, EWM, EWP, EWD, EWL, THD, TUR, IBB, PBE, PXJ, PJP, ILF, GLD, XHB, USO. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ANFTriple bottom      09/16/202210/13/2022Apparel
AFLDouble Bottom, Eve and Adam      09/27/202210/13/2022Insurance (Diversified)
AABroadening top      10/04/202210/20/2022Aerospace/Defense
BCPCHead-and-shoulders bottom      09/16/202210/07/2022Chemical (Specialty)
BECNPipe top      10/03/202210/10/2022Retail Building Supply
BKNGDouble Bottom, Eve and Adam      10/03/202210/13/2022Internet
CLSDouble Bottom, Eve and Eve      09/26/202210/13/2022Electronics
CVXHead-and-shoulders bottom      09/07/202210/11/2022Petroleum (Integrated)
CONNDead-cat bounce      10/18/202210/18/2022Retail (Special Lines)
CLRUgly double bottom      09/26/202210/11/2022Petroleum (Producing)
BOOMHead-and-shoulders bottom      09/13/202210/14/2022Metal Fabricating
EXPUgly double bottom      09/27/202210/13/2022Cement and Aggregates
EBAYDiamond bottom      09/27/202210/19/2022Internet
EXPDDouble Bottom, Eve and Adam      09/26/202210/13/2022Air Transport
FRDBroadening bottom      02/24/202209/26/2022Building Materials
GPROBroadening bottom      09/23/202210/18/2022Electronics
THGPipe bottom      09/26/202210/03/2022Insurance (Prop/Casualty)
HPUgly double bottom      09/23/202210/13/2022Petroleum (Producing)
IBKRThree Rising Valleys      07/14/202209/27/2022Securities Brokerage
TILEUgly double bottom      09/27/202210/13/2022Furn/Home Furnishings
IPIUgly double bottom      07/14/202208/02/2022Chemical (Diversified)
ISRGDouble Bottom, Eve and Eve      09/27/202210/13/2022Medical Supplies
JBLUDiamond bottom      09/27/202210/19/2022Air Transport
KALUUgly double bottom      09/29/202210/13/2022Metals and Mining (Div.)
KMTUgly double bottom      09/23/202210/13/2022Metal Fabricating
LHXPipe bottom      09/26/202210/03/2022Aerospace/Defense
LZBBroadening top, right-angled and descending      09/23/202210/18/2022Furn/Home Furnishings
LAMRDouble Bottom, Eve and Eve      09/26/202210/13/2022Advertising
LANCPipe bottom      09/26/202210/03/2022Food Processing
LDOSDouble Bottom, Eve and Adam      09/29/202210/13/2022IT Services
NOVPennant      10/06/202210/18/2022Oilfield Svcs/Equipment
JWNHead-and-shoulders bottom      09/14/202210/13/2022Retail Store
NVDABroadening wedge, descending      09/06/202210/13/2022Semiconductor
OLNUgly double bottom      09/29/202210/13/2022Chemical (Basic)
ASGNDouble Bottom, Adam and Adam      09/27/202210/13/2022Human Resources
OXMTriangle, symmetrical      09/14/202210/18/2022Apparel
PETSDiamond bottom      09/22/202210/12/2022Medical Services
SAICDouble Bottom, Eve and Adam      09/23/202210/13/2022IT Services
SLGNDouble Bottom, Adam and Adam      09/27/202210/13/2022Packaging and Container
SKXPipe bottom      09/26/202210/03/2022Shoe
SUMDouble Bottom, Eve and Eve      09/27/202210/11/2022Cement and Aggregates
TPXTriangle, symmetrical      09/15/202210/20/2022Furn/Home Furnishings
TXNTriple top      09/09/202210/05/2022Semiconductor
SLCAUgly double bottom      09/23/202210/13/2022Metals and Mining (Div.)
UPSDiamond bottom      09/23/202210/19/2022Air Transport
WLKUgly double bottom      09/23/202210/13/2022Chemical (Basic)

 

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Thursday 10/20/22. Intraday Market Direction: Nasdaq

The Nasdaq dropped by -0.9% or -91.89 points. Since 02/05/1971 the Nasdaq made 218 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.1% on 104 occasions.
     Average loss was -1.1% on 114 occasions.
Expect the Nasdaq to close lower 52.3% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 246/435 or 56.6% of the time.
     The prediction of the Nasdaq closing lower has been right 66/138 or 47.8% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

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

There's not a lot to write about this week. The index formed what loosely looks like a rounded bottom or a cup with handle. The rounded turn is irregular and shown here in red. Yes, it's not pretty but there is a rounded shape.

The handle of the cup with handle is the blue line. It slopes downward. In the earlier part of the pattern, it looks like descending triangle. The handle looks to be too long for the size of the cup, suggesting under performance.

Together, it tells me we're waiting for a bigger move, hopefully upward.

$ $ $

Here's a symbol list of 82 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, AXDX, ATSG, ALK, ALL, AMWD, ANIK, AVNT, BMI, BIG, BOOT, BRC, CE, CENX, CNA, CMCO, DOV, EFX, RE, FLEX, FRD, GD, GNW, HIG, HAYN, HP, HD, HOV, IBP, ISRG, IVC, JAZZ, KMB, LLY, LOW, MCHX, MRTN, MRK, NBR, NFG, NFLX, OMC, RMBS, RJF, ROST, RES, SAIA, SMG, SRE, TOL, UNM, VFC, WERN, WSM, ITB, IHE, FXI, EWO, EEM, EWG, EWI, EWM, EWS, EWP, EWT, DBA, PXJ, IXC, GLD, UNG, USO. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  8,831.82    
 Monthly S1  9,756.16  924.35   
 Weekly S2  9,834.15  77.99   
 Weekly S1  10,257.33  423.18   
 Daily S2  10,478.65  221.32   
 Weekly Pivot  10,512.01  33.36   
 Daily S1  10,579.58  67.57   
 Low  10,592.88  13.30   Yes! The Low is close to the Daily S1.
 61.8% Down from Intraday High  10,675.07  82.19   
 Close  10,680.51  5.44   Yes! The Close is close to the 61.8% Down from Intraday High.
 Open  10,689.31  8.80   Yes! The Open is close to the Close.
 Daily Pivot  10,693.81  4.50   Yes! The Daily Pivot is close to the Open.
 50% Down from Intraday High  10,700.46  6.65   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  10,725.85  25.39   
 Daily R1  10,794.74  68.89   
 High  10,808.04  13.30   Yes! The High is close to the Daily R1.
 Daily R2  10,908.97  100.93   
 Weekly R1  10,935.19  26.22   
 Monthly Pivot  11,013.18  77.99   
 Weekly R2  11,189.87  176.69   
 Monthly R1  11,937.52  747.65   
 Monthly R2  13,194.54  1,257.01   

Wednesday 10/19/22. A Look At Indicators

Picture of the chart pattern indicator

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.

For October, the index has been trying to turn bullish, but struggling. You can see that on the chart as green and white vertical stripes for the past month.

The chart is bullish as the most recent green bar illustrates. You can't see the CPI line but it registers as 97% today (Tuesday). That's a strong signal, but it could change if the index were to plummet.

Picture of the percent down indicators

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

Shown as a red line on the above chart...
On Tuesday, 68% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 74%.
The fewest was 21% on 11/12/2021.
And the most was 79% on 06/17/2022.
Shown as a blue line on the above chart...
The 451 stocks in my database are down an average of 31% from their yearly high.
A week ago, the average was 33%.
The peak was 12% on 11/08/2021.
And the bottom was 34% on 09/30/2022.

Both the red and blue lines have eased up, compared to a week ago. What does that mean? They are more bullish today.

We have both charts bullish this week. The CPI chart has three percentage points to grow upward otherwise, I'd be warning that only a down move is available. But we can see more of an up move and maybe peg the CPI at 100. It depends on what happens during earnings season. So far, it's been up and down and it's pushing the indices around.

I think the charts predict a continued bullish move but I also recognize that the index is near overhead resistance. So we could see a plateau or dip, or we could see the index skyrocket on better than expected earnings. In other words, I can't make up my mind what is likely to happen, although I remain bullish.

$ $ $

Here's a symbol list of 170 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, AXDX, AYI, ADTN, AJRD, APD, ATSG, AKAM, ALL, AYX, AXP, AMWD, AMN, ANIK, APOG, ATR, ADM, ARW, ASH, AIZ, AVY, AVNT, AZTA, BCPC, BECN, BBBY, BOOT, BAH, BRC, BLDR, CBT, CACI, CALM, CE, CLS, CENX, CF, CMCO, CONN, COTY, CR, CRH, CCRN, CW, DHR, DECK, D, DOV, EXP, RE, EZPW, FLEX, FLS, FMC, FCX, FRD, GD, GNW, GILD, GL, GS, GPRO, HE, HQY, HOV, HURC, INCY, NSP, INTC, IBKR, TILE, IPG, ISRG, IVC, JKHY, JAZZ, JBLU, KFRC, KSS, LHX, LAMR, LDOS, M, MRTN, MTRX, MRK, MOS, MLI, MYGN, NFG, JWN, OMCL, ASGN, OTEX, OUT, OXM, PANW, PPG, PPL, PFG, DGX, RJF, RGS, ROK, ROST, CRM, SAIC, SMG, SHW, SLGN, SCS, SUM, TXT, TMO, TKR, TOL, TREX, UNM, WAT, WWW, WDAY, ITA, IAI, IYK, ITB, IHE, FDN, FXI, IHI, EWO, EWK, EWG, EWH, EWI, EWJ, EWP, EWD, EWL, EWT, PPA, DBA, PBE, PXJ, PHO, XLP, XLI, XLB, XAR, UNG, USO, VIS, VAW. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

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Tuesday 10/18/22. Slider Trading Quiz!

The Dow climbed by 1.9% or 550.99 points. Since 10/01/1928 the Dow made 101 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.9% on 44 occasions.
     Average loss was -0.6% on 57 occasions.
Expect the Dow to close lower 56.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 250/451 or 55.4% of the time.
     The prediction of the Dow closing lower has been right 49/102 or 48.0% of the time.

$ $ $

I show another slider trading quiz featuring Surmodics: SRDX, support and resistance stock.

$ $ $

Here's a symbol list of 100 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AXDX, AYX, ATR, ADSK, AVNT, BMI, BCPC, BALL, BBY, BIG, BIO, BKH, CDNS, CX, CLNE, CLX, CLR, DDS, DUK, EXC, FLEX, GME, GNW, GOOGL, GPRO, HBI, THG, HSC, HL, HELE, ITGR, IPG, INTU, KBH, LHX, LANC, RAMP, LOW, MTSI, MRK, MLKN, MCO, ^IXIC, NCR, NTGR, NWL, NKE, JWN, NUS, PDCO, PYPL, PRFT, KWR, RMBS, SMG, SIGI, SKX, TFX, TPX, VEEV, VRSN, VC, WDAY, IDU, FDN, QTEC, FXL, FXI, BOTZ, QQQ, ICF, IGV, SLV, EWO, EEM, EWG, EWH, EWI, EPP, EZA, EWY, EWP, EWD, EWL, EWT, THD, TUR, QLD, PXJ, PHO, ROBO, IEV, XLU, UNG, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  26,607.17    
 Weekly S2  27,990.65  1,383.48   
 Monthly S1  28,396.49  405.85   
 Weekly S1  29,088.23  691.74   
 Weekly Pivot  29,758.53  670.29   
 Daily S2  29,850.80  92.27   
 Low  29,997.62  146.82   
 Daily S1  30,018.31  20.69   Yes! The Daily S1 is close to the Low.
 Open  30,059.58  41.27   
 61.8% Down from Intraday High  30,117.69  58.11   
 50% Down from Intraday High  30,154.79  37.09   
 Daily Pivot  30,165.13  10.35   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 Close  30,185.82  20.69   Yes! The Close is close to the Daily Pivot.
 38.2% Down from Intraday High  30,191.88  6.05   Yes! The 38.2% Down from Intraday High is close to the Close.
 High  30,311.95  120.07   
 Daily R1  30,332.64  20.69   Yes! The Daily R1 is close to the High.
 Monthly Pivot  30,450.27  117.63   
 Daily R2  30,479.46  29.19   Yes! The Daily R2 is close to the Monthly Pivot.
 Weekly R1  30,856.11  376.65   
 Weekly R2  31,526.41  670.29   
 Monthly R1  32,239.59  713.19   
 Monthly R2  34,293.37  2,053.77   

Monday 10/17/22. Market Monday: The Week Ahead

My Prediction

Picture of the Nasdaq on the daily scale.

At BC, the index forms an ascending triangle (the top trendline should have been drawn a bit higher so that it touches the price bars, not slice through them). It broke out upward at B, threw back to C before making an impressive run up to D. Point D is more than the height of the triangle added to the top of it, so it exceeded the measure rule target.

More recently, we see a broadening bottom at A (the two red lines). That chart pattern has an a diverging price move with the top trendline moving up and the bottom line trending down.

Point A, the peak just below it, a partial rise appears. Will this lead to an extended move down? (Partial rises often predict a downward move, leading to a downward breakout).

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A Brief Look Back

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

Monday: Down 93.91 points.
Tuesday: Up 36.31 points.
Wednesday: Down 28.34 points.
Thursday: Up 827.87 points.
Friday: Down 403.89 points.

For the Week...

The Dow industrials were up 338.04 points or 1.2%.
The Nasdaq composite was down 331.01 points or 3.1%.
The S&P 500 index was down 56.59 points or 1.6%.

Year to Date...

Dow Industrials
     19.8% down from the high of 36,952.65 on 01/05/2022.
     3.4% up from the low of 28,660.94 on 10/13/2022.
Nasdaq
     34.9% down from the high of 15,852.14 on 01/04/2022.
     2.3% up from the low of 10,088.83 on 10/13/2022.
S&P 500
     25.6% down from the high of 4,818.62 on 01/04/2022.
     2.6% up from the low of 3,491.58 on 10/13/2022.

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).

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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.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  29,078  29,356  29,893  30,171  30,707 
Weekly  27,807  28,721  29,575  30,489  31,343 
Monthly  26,424  28,029  30,267  31,872  34,110 
S&P500 (^GSPC): Daily  3,493  3,538  3,625  3,670  3,757 
Weekly  3,375  3,479  3,596  3,700  3,816 
Monthly  3,104  3,343  3,731  3,971  4,359 
Nasdaq (^IXIC): Daily  10,008  10,165  10,466  10,622  10,924 
Weekly  9,714  10,018  10,392  10,696  11,070 
Monthly  8,712  9,517  10,893  11,698  13,075 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

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

Here's a symbol list of 143 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AES, ALB, AA, ALL, AMZN, AMED, AMWD, ADM, AWI, ARW, ATO, AZTA, BALL, BSET, BBBY, BIG, BMRN, BBW, BLDR, BG, CLS, CX, CENX, CF, CLF, COST, DSGR, BOOM, EXP, WIRE, EFX, EZPW, FDS, FAST, FIS, FMC, FCX, FRD, IT, GD, GNW, GILD, GPN, GPRO, GFF, HBI, THG, HSC, HSII, HSY, HOV, IBP, IIIN, IPAR, IPI, NVTA, JKHY, KBH, KFRC, LHX, LANC, LEN, LOW, LXU, MHO, MANH, MRTN, MLM, MAS, MDC, MRK, MLKN, MOS, NEU, NXGN, NKE, JWN, NWPX, NUS, OMCL, PATK, PDCO, PETS, PFE, PCG, PLXS, PHM, RJF, RHI, ROST, SAIA, SCHW, NOW, SKX, SWX, SRDX, TPR, TGT, TDOC, TFX, TPX, TEVA, TOL, TSCO, TG, UNM, VEEV, VC, VMC, WLK, WSM, WOLF, IYM, IYK, ITB, EWZ, EIS, PPA, PBE, PJP, ILF, MXI, GLD, XHB. Clink this link for details (pattern type, start and end dates).

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

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

This WeekLast Week
1. Short ETFs1. Short ETFs
2. Petroleum (Integrated)2. Petroleum (Producing)
3. Trucking/Transp. Leasing3. Petroleum (Integrated)
4. Metal Fabricating4. Metal Fabricating
5. Food Processing5. Trucking/Transp. Leasing
6. Insurance (Life)6. Securities Brokerage
7. Petroleum (Producing)7. Natural Gas (Diversified)
8. Machinery8. Insurance (Life)
9. Shoe9. Food Processing
10. Securities Brokerage10. Shoe
Best Performing AboveWorst Performing Below
50. Diversified Co.50. Retail (Special Lines)
51. Chemical (Basic)51. Chemical (Basic)
52. Computers and Peripherals52. Advertising
53. Internet53. Semiconductor Cap Equip.
54. Medical Supplies54. Semiconductor
55. Semiconductor55. Diversified Co.
56. Retail (Special Lines)56. Internet
57. Semiconductor Cap Equip.57. Medical Supplies
58. E-Commerce58. Toiletries/Cosmetics
59. Toiletries/Cosmetics59. Computers and Peripherals
60. Oilfield Svcs/Equipment60. E-Commerce

-- Thomas Bulkowski

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Friday 10/14/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 160 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, ACIW, ADBE, AJRD, AES, AFL, ATSG, ALKS, ALL, AMED, AEL, AFG, APH, ANIK, AON, APOG, ACGL, AIZ, BMI, BCPC, BIG, BIIB, BA, BMY, CX, CENX, CHKP, CVX, CHS, CHD, CLF, CLX, CNA, CNO, CAG, COST, CR, CROX, CCRN, CSGS, CMI, CW, DVN, DDS, BOOM, ELV, EMR, EQT, RE, FISV, FDP, GD, GE, GIS, GNW, GILD, GPRO, GES, HBI, THG, HSC, HIG, HAYN, HSII, HSY, HON, HURC, ITW, NSP, TILE, IPI, JKHY, JNJ, KFRC, LHX, LANC, LDOS, LEN, LLY, L, LOW, MRTN, MRK, MGEE, MU, MLKN, MLI, MYGN, NEU, NKE, JWN, NWPX, NUS, OXY, ORI, OUT, OXM, PKE, PDCO, PRFT, PETS, PCG, PG, PGR, DGX, RGS, RLI, ROK, RES, SEE, SIGI, SLGN, SKX, TDOC, TXT, TOL, TG, UNM, VEEV, VRSN, VRTX, VC, VMC, WLK, WMB, ITA, IYK, ITB, IHE, IYH, EWO, EWG, EWS, PPA, PBE, PEJ, PXJ, PJP, IEV, XLP, GLD, XHB, XLI, XRT, XAR. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
AYIHead-and-shoulders complex bottom      09/06/202210/07/2022Furn/Home Furnishings
ALBDiamond top      08/12/202210/11/2022Chemical (Diversified)
BSETDouble Bottom, Adam and Adam      09/30/202210/07/2022Furn/Home Furnishings
BKHDouble Top, Eve and Adam      08/19/202209/12/2022Electric Utility (West)
CALMPipe top      09/19/202209/26/2022Food Processing
CPBTriple bottom      09/15/202210/07/2022Food Processing
CGNXRectangle bottom      08/22/202210/12/2022Precision Instrument
^DJIDiamond bottom      09/26/202210/11/2022None
EVHHead-and-shoulders top      08/24/202210/04/2022Healthcare Information
FIVNDead-cat bounce      10/10/202210/10/2022Computer Software and Svcs
FTNTDouble Top, Adam and Adam      09/12/202210/06/2022Computer Software and Svcs
FDPDouble Bottom, Eve and Adam      09/29/202210/07/2022Food Processing
NSPHead-and-shoulders bottom      09/23/202210/07/2022Human Resources
IIINHead-and-shoulders bottom      09/07/202210/12/2022Building Materials
MANHThree Falling Peaks      08/17/202210/06/2022IT Services
MANDouble Bottom, Eve and Adam      09/29/202210/13/2022Human Resources
MRKRounding bottom      08/19/202210/13/2022Drug
^IXICBroadening bottom      09/23/202210/11/2022None
OMIDead-cat bounce      10/12/202210/12/2022Medical Supplies
PDCOHead-and-shoulders bottom      09/07/202210/12/2022Medical Supplies
RLIDouble Bottom, Eve and Adam      09/27/202210/07/2022Insurance (Prop/Casualty)
SCHWBroadening top, right-angled and ascending      08/26/202210/13/2022Securities Brokerage
RIGPipe bottom      09/19/202209/26/2022Oilfield Svcs/Equipment
WRBDouble Bottom, Eve and Adam      08/03/202209/26/2022Insurance (Prop/Casualty)

 

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Thursday 10/13/22. Bitcoin Review

The Nasdaq dropped by -0.1% or -9.09 points. Since 02/05/1971 the Nasdaq made 624 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 347 occasions.
     Average loss was -0.9% on 277 occasions.
Expect the Nasdaq to close higher 55.6% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 245/434 or 56.5% of the time.
     The prediction of the Nasdaq closing lower has been right 66/138 or 47.8% of the time.

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

Picture of bitcoin on the daily scale.

$ $ $

I show a picture of bitcoin on the daily scale.

Let's go through it alphabetically. At ABC is a chart pattern, or rather a potential chart pattern called a triple top. If confirmed, it means the coin is going down. To confirm the pattern, the coin has to close below the horizontal red line (the lowest price between the three ABC peaks).

D is another chart pattern called a rising wedge. They breakout downward most often as this example shows. The bottom of the pattern is the price target and the coin exceeded that quickly enough.

Green line E shows resistance to an upward move. However, at F the coin peaked after shooting through that resistance. Notice that the height from the green line to F mirrors the drop from the green line to G (in height, not shape).

Coincidence? Maybe, but read this about the trendline measure rule.

$ $ $

Here's a symbol list of 123 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AES, AA, ALL, AEP, AEL, AFG, ABC, AMN, ATR, AVY, BZH, BERY, BIG, BIO, BMRN, BA, BAH, BRC, BFH, CX, CENX, CMCO, CMTL, CMI, DHR, ELV, WIRE, RE, FDS, FAST, FTNT, GPS, IT, GGG, HBI, THG, HSC, HE, HQY, HTLD, HOLX, HD, IDA, IEX, ITW, IBP, IIIN, ITGR, TILE, IPG, JKHY, KSS, LHX, LANC, LLY, RAMP, LMT, LOW, LXU, MCHX, MTRN, MRK, MGEE, MLKN, MS, MYGN, NKE, JWN, NOC, NWPX, NUS, OMI, PDCO, PPG, PINC, PGR, QCOM, RGS, ROST, SIGI, SHW, SLGN, SKX, SCS, TMO, TJX, TOL, TREX, VMI, VC, VMC, WEX, ITB, FXI, ICF, IHI, EWH, EIS, EWJ, EWS, EZA, EWP, PPA, PBE, PHO, XLF, XHB, XLB, XAR, USO, SMH. Clink this link for details (pattern type, start and end dates).

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

$ $ $

The 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

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  9,388.68    
 Monthly S1  9,902.89  514.21   
 Weekly S2  10,089.26  186.37   
 Weekly S1  10,253.18  163.92   
 Daily S2  10,305.63  52.45   
 Daily S1  10,361.36  55.74   
 Low  10,372.21  10.85   Yes! The Low is close to the Daily S1.
 Close  10,417.10  44.89   
 61.8% Down from Intraday High  10,418.94  1.84   Yes! The 61.8% Down from Intraday High is close to the Close.
 Daily Pivot  10,427.95  9.01   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  10,433.37  5.42   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 Open  10,437.00  3.63   Yes! The Open is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  10,447.80  10.80   Yes! The 38.2% Down from Intraday High is close to the Open.
 Daily R1  10,483.68  35.88   
 High  10,494.53  10.85   Yes! The High is close to the Daily R1.
 Daily R2  10,550.27  55.74   
 Weekly Pivot  10,741.81  191.54   
 Weekly R1  10,905.73  163.92   
 Monthly Pivot  11,086.54  180.81   
 Weekly R2  11,394.36  307.82   
 Monthly R1  11,600.75  206.39   
 Monthly R2  12,784.40  1,183.65   

Wednesday 10/12/22. A Look At Indicators

Picture of the chart pattern indicator

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

The CPI turned bearish a day after the October peak. That happened after a neutral reading the day before and a bullish one the day before that. A smooth three-day transition from bull to bear.

Looking back over the chart, there's not been that kind of transition (three consecutive days). So this was a violent whiplash reversal.

The CPI line, the thin blue one, isn't that bearish, though. I still think the reversal is overblown. I'm expecting a nice recovery but what do I know? I've been wrong about the direction of the market since it started down last year.

Picture of the percent down indicators

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

Shown as a red line on the above chart...
On Tuesday, 74% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 65%.
The fewest was 21% on 11/12/2021.
And the most was 79% on 06/17/2022.
Shown as a blue line on the above chart...
The 451 stocks in my database are down an average of 33% from their yearly high.
A week ago, the average was 30%.
The peak was 12% on 11/08/2021.
And the bottom was 34% on 09/30/2022.

Both lines are more bearish this week than a week ago. They've been tracking the index lower all year.

Both charts are bearish. This one appears to have moved horizontally on Tuesday. Hmm. I wonder if that's a signal for a recovery. Let's hope some. I still want to do some tax loss selling...and soon.

$ $ $

Here's a symbol list of 71 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AES, ALK, ALL, ANIK, BZH, BIG, BA, BFH, CLS, CENX, CLNE, CNO, CMTL, COP, DHR, DECK, EVH, FISV, FIVN, HBI, THG, HSC, HTLD, DHI, HURC, INFN, KELYA, LHX, LRCX, LANC, LEG, LLY, LMT, MAS, MLKN, MS, NEU, NEE, NKE, JWN, NUS, PDCO, PYPL, PGR, PRU, QCOM, SCHW, SRE, SKX, SCCO, SCS, TPR, TDOC, TMO, TZOO, VC, WEX, FXI, SLV, EWA, EEM, EWH, EWM, EPP, EWT, THD, PBE, GLD, SMH, VHT. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

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Tuesday 10/11/22. Slider Trading Quiz! Sunoco (SUN)

The Dow dropped by -0.3% or -93.91 points. Since 10/01/1928 the Dow made 1078 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 509 occasions.
     Average loss was -0.7% on 569 occasions.
Expect the Dow to close lower 52.8% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 250/451 or 55.4% of the time.
     The prediction of the Dow closing lower has been right 49/101 or 48.5% of the time.

$ $ $

I show another slider trading quiz featuring Sunoco: SUN stock.

$ $ $

Here's a symbol list of 259 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, ACIW, ADBE, AEIS, AFL, APD, AKAM, ALRM, AYX, AMZN, DOX, AXP, AIG, ABC, APH, ANIK, AMAT, ACGL, ARW, ADSK, AVY, AZTA, BMI, BECN, BZH, BERY, BBY, BIO, BKNG, BOOT, BFH, CDNS, CALM, CAL, CLS, CNC, CF, CRL, CHKP, CIEN, CSCO, CLF, CTSH, CMTL, COP, CLR, GLW, COST, CR, CRH, CROX, CW, DHR, DECK, XRAY, DDS, DFS, ^DJT, ^DJI, DOV, BOOM, EXP, EMN, EBAY, ELV, EMR, EPAM, EFX, EVH, FFIV, FDS, FAST, FIS, FIVN, FLEX, FCX, FRD, IT, GE, GOOGL, GGG, HQY, HL, HSII, HSIC, IDXX, ITW, INFN, IBP, ITGR, INTC, IPI, INTU, ISRG, NVTA, JBLU, KLAC, KLIC, LHX, LH, LRCX, LEN, LLY, LMT, LXU, MLM, MAS, MTRN, MRK, MU, MSFT, MCO, MS, ^IXIC, NOV, NCR, NTAP, NEU, NEE, NXGN, NKE, JWN, NVDA, OXY, ASGN, OTEX, OUT, PANW, PKE, PAYX, PYPL, PRFT, PETS, PLXS, POR, PPG, PINC, PFG, KWR, QCOM, RL, RGS, RGA, RNG, RLI, RHI, ROK, ROST, RES, ^GSPC, CRM, SEE, SEIC, NOW, SCCO, SSYS, SUM, SRDX, SNPS, TPR, TECH, TDOC, TFX, TDC, TER, TEVA, TXN, TMO, TJX, RIG, UPS, VFC, VLO, VMI, VEEV, VRSN, V, VMC, WAT, WLK, WOLF, WDAY, ZBRA, IAI, IYC, DDM, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, ICF, IYH, IHF, IAT, IYZ, IGV, SOXX, IYF, EWA, EWO, EWK, EEM, EWQ, EWG, EWH, EIS, EWM, EPP, EWS, EZA, EWP, EWD, EWL, EWT, THD, QLD, IBB, PBE, PEJ, PJP, PHO, ROBO, IEV, IXN, SSO, MXI, XLY, XLF, GLD, XLV, XHB, XLB, XRT, XLK, USO, SMH, VHT, VIS, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Top

© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  26,352.73    
 Monthly S1  27,777.81  1,425.07   
 Weekly S2  27,904.99  127.18   
 Weekly S1  28,553.93  648.95   
 Daily S2  28,757.63  203.69   
 Daily S1  28,980.25  222.63   
 Low  29,010.41  30.16   Yes! The Low is close to the Daily S1.
 61.8% Down from Intraday High  29,192.02  181.61   
 Close  29,202.88  10.87   Yes! The Close is close to the 61.8% Down from Intraday High.
 Daily Pivot  29,233.04  30.16   Yes! The Daily Pivot is close to the Close.
 50% Down from Intraday High  29,248.12  15.08   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  29,304.21  56.10   
 Open  29,419.09  114.88   
 Daily R1  29,455.66  36.57   Yes! The Daily R1 is close to the Open.
 High  29,485.82  30.16   Yes! The High is close to the Daily R1.
 Weekly Pivot  29,504.20  18.38   Yes! The Weekly Pivot is close to the High.
 Daily R2  29,708.45  204.25   
 Monthly Pivot  30,140.92  432.48   
 Weekly R1  30,153.14  12.22   Yes! The Weekly R1 is close to the Monthly Pivot.
 Weekly R2  31,103.41  950.26   
 Monthly R1  31,566.00  462.59   
 Monthly R2  33,929.11  2,363.12   

Monday 10/10/22. Market Monday: The Week Ahead

My Prediction

Picture of the Dow industrials on the daily scale.

I show the Dow industrials on the daily scale.

At AB, a double bottom chart pattern appears. It confirms as a valid pattern when the index closes above the peak between the two bottoms. That happens at line C. Notice how far price rises after C.

In the last week, I was hoping the index would rise a touch more, to the area circled in green. It came close, at D, but still fell short.

Now, I think the index will bottom soon and rebound following the red line after D.

If it follows the red line, it'll form another potential double bottom, perhaps staging another uphill run with more staying power. I have my doubts. I think Putin will unleash a nuke, perhaps some chemical or biological weapons to scare the west. That will drive markets lower.

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A Brief Look Back

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

Monday: Up 765.38 points.
Tuesday: Up 825.43 points.
Wednesday: Down 42.45 points.
Thursday: Down 346.93 points.
Friday: Down 630.15 points.

For the Week...

The Dow industrials were up 571.28 points or 2.0%.
The Nasdaq composite was up 76.78 points or 0.7%.
The S&P 500 index was up 54.04 points or 1.5%.

Year to Date...

Dow Industrials
     20.7% down from the high of 36,952.65 on 01/05/2022.
     2.0% up from the low of 28,715.85 on 09/30/2022.
Nasdaq
     32.8% down from the high of 15,852.14 on 01/04/2022.
     0.8% up from the low of 10,565.14 on 06/16/2022.
S&P 500
     24.5% down from the high of 4,818.62 on 01/04/2022.
     1.5% up from the low of 3,584.13 on 09/30/2022.

Options Expiration

No options expire this week.

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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.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  28,832  29,065  29,375  29,607  29,918 
Weekly  27,936  28,617  29,536  30,216  31,135 
Monthly  26,384  27,840  30,172  31,629  33,960 
S&P500 (^GSPC): Daily  3,570  3,605  3,656  3,691  3,742 
Weekly  3,482  3,561  3,684  3,763  3,886 
Monthly  3,246  3,443  3,781  3,978  4,316 
Nasdaq (^IXIC): Daily  10,434  10,543  10,718  10,827  11,001 
Weekly  10,168  10,410  10,820  11,063  11,473 
Monthly  9,467  10,060  11,165  11,758  12,863 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season will be starting in about 6 days.

Here's a symbol list of 151 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AYI, AMD, APD, AKAM, ALRM, AYX, AEL, AMWD, APA, ACGL, ADP, AVY, AZTA, BECN, BMRN, BKH, BOOT, BAH, BFH, BBW, CBT, CACI, CALM, CE, CF, CRL, CVX, CLX, CLR, COST, CR, CRH, CROX, CCRN, CTS, CW, EMN, WIRE, EPAM, EFX, RE, EVH, FFIV, FAST, FCX, FRD, THG, HE, HL, HNI, HOLX, JBHT, HURC, IEX, INFN, IBP, ITGR, IPI, IVC, JAZZ, KFRC, LZB, LH, LEN, LLY, RAMP, LXU, MAS, MTRN, MU, MLKN, MS, NOV, NCR, NWL, NEE, JWN, OXY, OGE, OTEX, OMI, PKE, PAYX, PRFT, PCG, POR, PINC, KWR, RGS, RGA, RLI, RHI, RES, SLB, SEE, SEIC, SMTC, SCCO, SSYS, SUM, SRDX, TDOC, TFX, TDC, TEVA, RIG, VFC, VLO, VMI, VEEV, VRSN, WMT, WSO, WLK, IYM, IYK, IYC, IDU, ICF, IHF, IAT, IYZ, EWO, EWK, EWQ, EWG, EIS, EZA, EWP, EWD, EWL, EWU, PBE, IEV, MXI, XLY, XLF, XLB, USO, VAW. Clink this link for details (pattern type, start and end dates).

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

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

This WeekLast Week
1. Short ETFs1. Short ETFs
2. Petroleum (Producing)2. Food Processing
3. Petroleum (Integrated)3. Petroleum (Integrated)
4. Metal Fabricating4. Petroleum (Producing)
5. Trucking/Transp. Leasing5. Metal Fabricating
6. Securities Brokerage6. Natural Gas (Diversified)
7. Natural Gas (Diversified)7. Machinery
8. Insurance (Life)8. Chemical (Diversified)
9. Food Processing9. Securities Brokerage
10. Shoe10. Natural Gas (Distributor)
Best Performing AboveWorst Performing Below
50. Retail (Special Lines)50. Apparel
51. Chemical (Basic)51. Air Transport
52. Advertising52. Diversified Co.
53. Semiconductor Cap Equip.53. Advertising
54. Semiconductor54. Computers and Peripherals
55. Diversified Co.55. Toiletries/Cosmetics
56. Internet56. Internet
57. Medical Supplies57. Semiconductor Cap Equip.
58. Toiletries/Cosmetics58. Oilfield Svcs/Equipment
59. Computers and Peripherals59. E-Commerce
60. E-Commerce60. Semiconductor

-- Thomas Bulkowski

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Friday 10/7/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 98 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ALB, AMWD, ANIK, ARCB, ACGL, ADP, BSET, BECN, BOOT, CALM, CF, CRL, CLX, CMCO, CAG, COP, CLR, CR, CROX, CW, D, EVH, FFIV, FORM, FTNT, FCX, FRD, HE, HL, HOLX, HUBG, JBHT, IDA, IEX, INFN, IBP, IIIN, IPI, JAZZ, LZB, LEN, LMT, LXU, MAS, MTRN, MDC, MU, NOV, NFLX, NUS, OXY, OMCL, PYPL, PRFT, PETS, KWR, QCOM, RMBS, RJF, RGS, RGA, RHI, RES, SCHW, SIGI, SCCO, SWX, SRDX, TPR, TDC, TEVA, RIG, VMI, VEEV, VRSN, VC, WSO, WLK, ICF, IHF, IYZ, EWK, EWW, EZA, EWP, TUR, PBE, USO. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
AYIDouble Bottom, Adam and Eve      09/19/202209/27/2022Furn/Home Furnishings
APADouble Top, Adam and Eve      08/29/202209/15/2022Petroleum (Producing)
ACGLPipe bottom      09/19/202209/26/2022Insurance (Prop/Casualty)
BECNPipe bottom      09/19/202209/26/2022Retail Building Supply
CRLPipe bottom      09/19/202209/26/2022Biotechnology
CINFDouble Bottom, Adam and Adam      09/26/202209/30/2022Insurance (Prop/Casualty)
COPBroadening top      08/29/202210/06/2022Petroleum (Integrated)
CRPipe bottom      09/19/202209/26/2022Diversified Co.
CROXPipe bottom      09/19/202209/26/2022Shoe
CTSDouble Top, Adam and Adam      09/12/202209/21/2022Electronics
CWPipe bottom      09/19/202209/26/2022Machinery
GMETriangle, symmetrical      09/07/202210/06/2022Retail (Special Lines)
GESDouble Bottom, Adam and Adam      09/26/202209/30/2022Apparel
THGDouble Bottom, Adam and Adam      09/27/202210/03/2022Insurance (Prop/Casualty)
HLBroadening bottom      08/22/202210/06/2022Metals and Mining (Div.)
HSYBroadening top, right-angled and ascending      09/21/202210/06/2022Food Processing
IDXXDouble Bottom, Adam and Eve      09/23/202210/03/2022Drug
ILMNDouble Bottom, Adam and Adam      09/26/202210/03/2022Biotechnology
INFNPipe bottom      09/19/202209/26/2022Telecom. Equipment
IBPPipe bottom      09/19/202209/26/2022Retail Building Supply
ITGRDead-cat bounce      10/06/202210/06/2022Electronics
INTUDouble Bottom, Adam and Adam      09/23/202209/30/2022Computer Software and Svcs
LENDouble Bottom, Eve and Eve      09/14/202209/27/2022Homebuilding
LLYTriple bottom      08/08/202209/21/2022Drug
LDouble Bottom, Adam and Adam      09/26/202209/30/2022Insurance (Prop/Casualty)
LOWDouble Bottom, Eve and Adam      09/23/202209/30/2022Retail Building Supply
MTSITriple bottom      09/01/202209/30/2022Semiconductor
MASPipe bottom      09/19/202209/26/2022Building Materials
MTRNPipe bottom      09/19/202209/26/2022Metals and Mining (Div.)
MUPipe bottom      09/19/202209/26/2022Semiconductor
NOVPipe bottom      09/19/202209/26/2022Oilfield Svcs/Equipment
NFLXRectangle top      07/28/202210/06/2022Internet
OXYPipe bottom      09/19/202209/26/2022Petroleum (Producing)
OMCDouble Bottom, Eve and Adam      09/26/202210/03/2022Advertising
RMBSDouble Bottom, Eve and Adam      09/01/202209/23/2022Semiconductor Cap Equip.
RGAPipe bottom      09/19/202209/26/2022Insurance (Life)
RHIPipe bottom      09/19/202209/26/2022Human Resources
RESPipe bottom      09/19/202209/26/2022Oilfield Svcs/Equipment
SCCOPipe bottom      09/19/202209/26/2022Metals and Mining (Div.)
SWNDouble Top, Adam and Adam      08/23/202209/14/2022Natural Gas (Diversified)
SRDXPipe bottom      09/19/202209/26/2022Medical Supplies
TEVAPipe bottom      09/19/202209/26/2022Drug
TKRDouble Bottom, Adam and Adam      09/23/202209/29/2022Metal Fabricating
UPSDouble Bottom, Adam and Adam      09/26/202210/03/2022Air Transport
VMIPipe bottom      09/19/202209/26/2022Metal Fabricating
VRTXRoof      08/29/202209/26/2022Biotechnology

 

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Thursday 10/6/22. Intraday Market Direction: Nasdaq

The Nasdaq dropped by -0.2% or -27.77 points. Since 02/05/1971 the Nasdaq made 536 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 280 occasions.
     Average loss was -0.8% on 256 occasions.
Expect the Nasdaq to close higher 52.2% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 245/433 or 56.6% of the time.
     The prediction of the Nasdaq closing lower has been right 66/138 or 47.8% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

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

I drew a red trendline to highlight how the line fit within price. At AB, there's a chart pattern called a bump-and-run reversal top. A is the lead-in phase which leads to the bump phase, at B.

Price moves down below the trendline but in this case, it doesn't go down far enough (to C) to fulfill the measure rule target (the largest vertical distance from price to the trendline in the bump phase). Instead, the index moves higher after C, which suggests underlying strength in the index.

Because the index stalled at the old high, it could turn into a 2-B pattern and price will drop.

I'm not sure a drop is what'll happen. The move from C upward was a nice push of strength. We might see another round of bulls pushing up price.

$ $ $

Here's a symbol list of 66 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ALRM, ALL, ACGL, BECN, BOOT, CALM, CF, CRL, CHD, CL, CLR, CR, CROX, CW, DRQ, WIRE, EVH, XOM, FWRD, FCX, FRD, HL, HELE, HOLX, INFN, IBP, IPI, LEN, LMT, LXU, MRO, MAS, MTRN, MTRX, MU, NOV, OXY, OMCL, PRFT, RGS, RGA, RHI, RES, SCHW, SMTC, SCCO, SWX, SWN, SRDX, TEVA, RIG, VMI, VEEV, WSO, WERN, WLK, WWW, EEM, EWH, PBE, PXJ, UNG, USO. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  9,375.43    
 Monthly S1  10,262.03  886.61   
 Weekly S2  10,411.65  149.62   
 Weekly S1  10,780.15  368.49   
 Daily S2  10,790.35  10.20   Yes! The Daily S2 is close to the Weekly S1.
 Low  10,910.76  120.41   
 Weekly Pivot  10,940.82  30.06   
 Daily S1  10,969.49  28.67   Yes! The Daily S1 is close to the Weekly Pivot.
 Open  11,022.67  53.18   
 61.8% Down from Intraday High  11,025.19  2.52   Yes! The 61.8% Down from Intraday High is close to the Open.
 50% Down from Intraday High  11,060.54  35.35   
 Daily Pivot  11,089.91  29.37   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  11,095.89  5.98   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  11,148.64  52.75   
 High  11,210.32  61.68   
 Daily R1  11,269.05  58.73   
 Weekly R1  11,309.32  40.26   
 Daily R2  11,389.47  80.15   
 Monthly Pivot  11,458.94  69.47   
 Weekly R2  11,469.99  11.06   Yes! The Weekly R2 is close to the Monthly Pivot.
 Monthly R1  12,345.54  875.55   
 Monthly R2  13,542.45  1,196.90   

Wednesday 10/5/22. 2022 Forecast Update

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

Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 4 October 2022 were... (The numbering is how they ranked a month ago.)

1. Energy (+43%)
2. Utilities (6%)
3. Consumer staples (-1%)
4. Health care (-3%)
7. Materials (-12%)
5. Industrials (-14%)
8. Real estate (-18%)
6. Financials (-18%)
9. Information technology (-19%)
10. Consumer discretionary (-22%)
11. Communication services (-39%)

The folks at two firms polled by Fidelity weigh the sectors in this order, as of 9/30/22.

1. Information technology (IT)
2. Health care
3. Consumer discretionary
4. Financials
5. Communication services
6. Industrials
7. Consumer staples
8. Energy
9. Utilities
10. Real estate
11. Materials

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 10/3/22. The numbering is how they ranked a month ago.

1. Oil, gas and consumable fuels (+46%)
4. Health care providers and services (+23%)
3. Energy equipment and services (+14%)
2. Construction and engineering (+13%)
5. Food products (9%)
8. Beverages (+8%)
7. Multi-utilities (+7%)
New. Pharmaceuticals (+7%)
9. Electric utilities (6%)
6. Biotechnology (+3%)

$ $ $

Here's a symbol list of 235 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, ACN, ACIW, AYI, ADBE, ADTN, AJRD, AES, AFL, APD, ATSG, ALL, DOX, AEL, AMWD, AMN, APH, APA, ACGL, ARW, ASH, AGO, ADSK, AVY, AVNT, AZTA, BMI, BCPC, BALL, BECN, BERY, BOOT, BAH, BRC, BBW, BLDR, CALM, CAL, CE, CLS, CF, CRL, CVX, CLF, CMTL, CONN, COP, CLR, CR, CRH, CROX, CSGS, CMI, CW, DVN, DDS, DOV, BOOM, EXP, EMN, EMR, EOG, EFX, EQT, RE, EVH, XOM, FFIV, FDS, FLS, FMC, FORM, FTNT, FCX, FRD, IT, GPN, GOOGL, GFF, HL, HSII, HOLX, HD, HOV, IEX, IDXX, ILMN, INFN, IBP, ITGR, IBKR, TILE, IPI, ISRG, NVTA, JKHY, KALU, KELYA, KMT, KFRC, LEN, LNC, LXU, MHO, M, MAN, MRO, MLM, MAS, MTRN, MU, MSFT, MLI, MUR, NBR, NFG, NOV, NTAP, NWL, NEU, NVDA, OXY, ASGN, OXM, PKG, PANW, PTEN, PRFT, PETS, PPG, PFG, PRU, DGX, RMBS, RJF, RGS, RGA, RHI, ROK, RES, SLB, SCHW, SEE, SLGN, SCCO, SWN, SXI, SRDX, SNPS, TDC, TEVA, TKR, TJX, TOL, RIG, TZOO, SLCA, VLO, VMI, VEEV, VMC, WAT, WSO, WU, WLK, WMB, WDAY, IYM, IYE, IEZ, QTEC, FXL, BOTZ, IGV, SLV, IGE, IEO, IYF, IHI, EWO, EWK, EWC, ECH, EEM, EWQ, EWG, EWH, EIS, EWI, EZA, EWP, EWD, EWU, IBB, PBE, PXJ, PJP, PHO, ROBO, IEV, IXC, MXI, XLE, XLF, GLD, XLB, USO, VAW. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

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Tuesday 10/4/22. Slider Trading Quiz! Standex International: SXI

The Dow climbed by 2.7% or 765.38 points. Since 10/01/1928 the Dow made 26 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.8% on 11 occasions.
     Average loss was -0.5% on 15 occasions.
Expect the Dow to close lower 57.7% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 250/451 or 55.4% of the time.
     The prediction of the Dow closing lower has been right 49/100 or 49.0% of the time.

$ $ $

I show another slider trading quiz featuring Standex International: SXI (2) stock.

$ $ $

Here's a symbol list of 113 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, AXDX, AYI, AA, ALL, AMGN, AON, APA, AIZ, ATO, BIIB, BKH, BFH, CACI, CALM, CNP, CENX, CSCO, CTSH, ED, GLW, CCRN, CSGS, DHR, DVN, DDS, DSGR, ^DJU, ^DJT, ^DJI, D, DUK, EMR, WIRE, EOG, EQT, EVRG, FFIV, GE, GILD, HSC, HAYN, HL, HELE, HSIC, HNI, HOLX, HON, IDA, NSP, IPAR, KALU, LH, L, LOW, MTSI, MRO, MCHX, MTRN, MUR, NBR, NOV, NTAP, NJR, NEE, NI, OXY, OGE, OLN, OTEX, OXM, PDCO, PAYX, PNW, PPG, PPL, PGR, KWR, RES, CRM, SLB, SMTC, SKX, SO, SWX, TDOC, TXN, TMO, TJX, TG, UGI, UNM, WERN, DDM, IYH, IHF, IYZ, SLV, EIS, EWW, EZA, THD, PXJ, IXN, XLV, XLK, XLU, UNG, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  25,874.96    
 Monthly S1  27,682.93  1,807.96   
 Weekly S2  28,243.58  560.65   
 Daily S2  28,538.77  295.19   
 Open  28,855.25  316.48   
 Low  28,855.25  0.00   Yes! The Low is close to the Open.
 Weekly S1  28,867.23  11.98   Yes! The Weekly S1 is close to the Low.
 Daily S1  29,014.83  147.60   
 61.8% Down from Intraday High  29,158.00  143.17   
 50% Down from Intraday High  29,251.52  93.52   
 Daily Pivot  29,331.31  79.79   
 Weekly Pivot  29,339.51  8.20   Yes! The Weekly Pivot is close to the Daily Pivot.
 38.2% Down from Intraday High  29,345.04  5.53   Yes! The 38.2% Down from Intraday High is close to the Weekly Pivot.
 Close  29,490.89  145.85   
 High  29,647.79  156.90   
 Daily R1  29,807.37  159.58   
 Weekly R1  29,963.16  155.79   
 Daily R2  30,123.85  160.69   
 Weekly R2  30,435.44  311.59   
 Monthly Pivot  30,523.81  88.38   
 Monthly R1  32,331.78  1,807.96   
 Monthly R2  35,172.66  2,840.89   

Monday 10/3/22. Market Monday: The Week Ahead

My Prediction

Picture of the Dow transports on the weekly scale.

I didn't see anything worth reporting on the Dow transports on the daily scale, so I show the weekly scale instead.

I show support areas, places where the index might stop declining as three red lines.

Red line A is where I thought the index would find support, but it barreled right on through that.

Line B is where we're at now, matching prior valleys in early 2021.

Line C looks to be the next significant support area. I don't know whether the index will make it down to C. It could turn upward before then. However, if Putin uses a nuke, we could see a drop to C easily.

After that, we'll have to wait and see.

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A Brief Look Back

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

Monday: Down 329.6 points.
Tuesday: Down 125.82 points.
Wednesday: Up 548.75 points.
Thursday: Down 458.13 points.
Friday: Down 500.1 points.

For the Week...

The Dow industrials were down 864.9 points or 2.9%.
The Nasdaq composite was down 292.31 points or 2.7%.
The S&P 500 index was down 107.61 points or 2.9%.

Year to Date...

Dow Industrials
     22.3% down from the high of 36,952.65 on 01/05/2022.
     0.0% up from the low of 28,715.85 on 09/30/2022.
Nasdaq
     33.3% down from the high of 15,852.14 on 01/04/2022.
     0.1% up from the low of 10,565.14 on 06/16/2022.
S&P 500
     25.6% down from the high of 4,818.62 on 01/04/2022.
     0.0% up from the low of 3,584.13 on 09/30/2022.

Options Expiration

No options expire this week.

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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.

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  28,292  28,509  28,932  29,149  29,572 
Weekly  27,988  28,357  29,084  29,453  30,180 
Monthly  25,620  27,173  30,269  31,822  34,918 
S&P500 (^GSPC): Daily  3,526  3,556  3,614  3,643  3,701 
Weekly  3,483  3,534  3,635  3,687  3,788 
Monthly  3,172  3,379  3,791  3,998  4,410 
Nasdaq (^IXIC): Daily  10,366  10,471  10,677  10,782  10,988 
Weekly  10,221  10,398  10,750  10,927  11,279 
Monthly  9,184  9,880  11,268  11,964  13,351 

Here are the formulas:

Pivot point: P = (H + L + C)/3
First resistance level: R1 = (2 * P) - L
First support level: S1 = (2 * P) - H)
Second resistance level: R2 = P + (R1 - S1)
Second support level: S2 = P - (R1 - S1)
H = high price , L=low price, C=closing price

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Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 76 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ADBE, AES, ALL, AFG, AMGN, APH, AON, ARCB, ARW, BMI, BFH, CALM, COTY, CW, DECK, DRQ, EIX, WIRE, EVRG, EXC, EXPD, EZPW, GPS, IT, GE, GIS, GILD, HBI, HLIT, HSC, HIG, HTLD, HELE, HOLX, IDXX, ITGR, JNJ, K, KELYA, KMT, KSS, L, MLKN, MYGN, NCR, NWL, NEE, NKE, NUS, OMI, QCOM, ROK, SKX, SO, SUM, TDOC, TDC, TJX, TSCO, UNM, VFC, VRSN, VRTX, V, WAT, WOLF, WWW, WDAY, SLV, IHI, EIS, EWL, MGK. Clink this link for details (pattern type, start and end dates).

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

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

This WeekLast Week
1. Short ETFs1. Short ETFs
2. Food Processing2. Food Processing
3. Petroleum (Integrated)3. Natural Gas (Diversified)
4. Petroleum (Producing)4. Electric Utility (Central)
5. Metal Fabricating5. Electric Utility (East)
6. Natural Gas (Diversified)6. Electric Utility (West)
7. Machinery7. Natural Gas (Distributor)
8. Chemical (Diversified)8. Household Products
9. Securities Brokerage9. Metal Fabricating
10. Natural Gas (Distributor)10. Petroleum (Integrated)
Best Performing AboveWorst Performing Below
50. Apparel50. Diversified Co.
51. Air Transport51. Apparel
52. Diversified Co.52. Air Transport
53. Advertising53. Advertising
54. Computers and Peripherals54. Metals and Mining (Div.)
55. Toiletries/Cosmetics55. Internet
56. Internet56. Computers and Peripherals
57. Semiconductor Cap Equip.57. E-Commerce
58. Oilfield Svcs/Equipment58. Semiconductor Cap Equip.
59. E-Commerce59. Semiconductor
60. Semiconductor60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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