As of 11/21/2024   Indus: 43,870 +461.88 +1.1%     Trans: 17,172 +169.53 +1.0%     Utils: 1,076 +20.58 +2.0%     Nasdaq: 18,972 +6.28 +0.0%     S&P 500: 5,949 +31.60 +0.5%	YTD  +16.4%    +8.0%    +22.0%    +26.4%    +24.7%	Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,200 or 1,000 by 12/01/2024   20,000 or 18,400 by 12/01/2024   6,100 or 5,800 by 12/01/2024
Chart Pattern Indicator: on 11/20/24

As of 11/21/2024   Indus: 43,870 +461.88 +1.1%     Trans: 17,172 +169.53 +1.0%     Utils: 1,076 +20.58 +2.0%     Nasdaq: 18,972 +6.28 +0.0%     S&P 500: 5,949 +31.60 +0.5%	YTD  +16.4%    +8.0%    +22.0%    +26.4%    +24.7%
Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,200 or 1,000 by 12/01/2024   20,000 or 18,400 by 12/01/2024   6,100 or 5,800 by 12/01/2024
Chart Pattern Indicator: on 11/20/24

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

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

My Prediction

Highlighted in red, 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.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Earnings, Chart Patterns & Industries

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

Here's a symbol list of 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.

-- Thomas Bulkowski

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

Thursday 10/27/22. Crytpocurrency: Ethereum

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

$ $ $

I show a picture of Ethereum on the daily scale.

The first 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

Wednesday 10/26/22. A Look At Indicators

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

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).

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

Both lines (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

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

$ $ $

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

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

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

My Prediction

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

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.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Earnings, Chart Patterns & Industries

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

Here's a symbol list of 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.

-- Thomas Bulkowski

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

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

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

$ $ $

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

There's not a lot to 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

Wednesday 10/19/22. A Look At Indicators

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

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.

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

Both the red and blue lines 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

Tuesday 10/18/22. Slider Trading Quiz!

$ $ $

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

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

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

My Prediction

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).

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

Many options expire this week, so traders will be looking to close out their positions, and that suggests increased volatility (large daily price swings).

Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Earnings, Chart Patterns & Industries

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

Here's a symbol list of 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.

-- Thomas Bulkowski

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

Thursday 10/13/22. Bitcoin Review

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

$ $ $

I show a picture of 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

Wednesday 10/12/22. A Look At Indicators

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

The CPI 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.

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

Both lines are more 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

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

$ $ $

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

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

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

My Prediction

I show the Dow industrials on the daily scale.

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.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Earnings, Chart Patterns & Industries

Earnings season 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.

-- Thomas Bulkowski

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

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

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

$ $ $

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

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

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.)

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

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.

$ $ $

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

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

$ $ $

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

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

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

My Prediction

I 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.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

Swing Traders: Pivot Points

The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.

• Seekinger doesn't look at the range of S2 to R2 as support and resistance levels. Rather, he considers them oversold (S) and overbought (R) areas.
• S2 to R2 range of values across daily, weekly, and monthly periods: If two values are close together then they lend more significance to the area.
• If the market trends on day 1, the odds rise tremendously that the market will be range bound between daily S1 and daily R1 the next day.
• In a quiet market when traders are waiting for an important earnings announcement or economic report, look for daily R1 and S1 levels to hold and for the market to return to the daily pivot.
• A move outside of daily R1 or S1 usually does not mean a breakout.
• The odds suggest that the entire week's price action will remain between weekly R2 and S2.
• Avoid going long when the market moves above weekly R2 (it's overbought) and avoid going short when price moves below weekly S2 (oversold).
• Consider going short at weekly R1 or long at weekly S1 with a profit objective of the weekly pivot.
• Consider going long at weekly S2 or short at weekly R2 with a profit objective of weekly S1 or R1, respectively.

Here are the formulas:

Earnings, Chart Patterns & Industries

Earnings season is 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.

-- Thomas Bulkowski