As of 12/20/2024   Indus: 42,840 +498.02 +1.2%     Trans: 15,892 +32.54 +0.2%     Utils: 986 +14.76 +1.5%     Nasdaq: 19,573 +199.83 +1.0%     S&P 500: 5,931 +63.77 +1.1%	YTD  +13.7%   0.0%    +11.9%    +30.4%    +24.3%	Targets    Overview: 12/12/2024     44,200 or 41,750 by 01/01/2025   16,100 or 17,700 by 01/01/2025   1,050 or 975 by 01/01/2025   20,500 or 19,300 by 01/01/2025   6,100 or 5,775 by 01/01/2025
Chart Pattern Indicator: on 12/5/24

As of 12/20/2024   Indus: 42,840 +498.02 +1.2%     Trans: 15,892 +32.54 +0.2%     Utils: 986 +14.76 +1.5%     Nasdaq: 19,573 +199.83 +1.0%     S&P 500: 5,931 +63.77 +1.1%	YTD  +13.7%   0.0%    +11.9%    +30.4%    +24.3%
Targets    Overview: 12/12/2024     44,200 or 41,750 by 01/01/2025   16,100 or 17,700 by 01/01/2025   1,050 or 975 by 01/01/2025   20,500 or 19,300 by 01/01/2025   6,100 or 5,775 by 01/01/2025
Chart Pattern Indicator: on 12/5/24

Thursday 10/31/24. Intraday Market Direction: Nasdaq

$ $ $

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

Victor Sperandeo said that the correct way to draw a trendline was to start from the lowest point on the chart (see point D). Since I know the rule, I'm allowed to break it to make the line fit better. I like my trendlines to touch as many points as possible. (Yes, it's a flimsy excuse).

That's why I drew the red trendline where I did. At A, the index has dropped below the trendline. I'll discuss more about that in a moment. Stay tuned.

I drew another trendline, green, to show how the index bumped up against overhead resistance at B. On the way down, it found support at (near) the same price, C. The pause in both cases wasn't long, but it was there.

Returning to A, the index has dropped through the red line. It could pull back to the line before dropping farther. To me, that seems likely because of the horizontal move (support) shown at the 18,600 level during most of Monday's trading.

However, the index will often gap open, and it goes wherever it wants to go, so who knows? If this were a daily chart, I'd say the index would go horizontal for a while and then down to 18,500, perhaps as far as 18,400.

$ $ $

Here's a symbol list of 144 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACN, AES, AFL, AKAM, ALL, AMZN, AEO, ATR, ARCB, AZTA, BALL, BSET, BAX, BECN, BKH, BOOT, BBW, CENX, CF, CHKP, CLNE, CNA, CNX, ED, CRH, CROX, CTS, DSGR, ^DJU, DTE, DUK, EBAY, EIX, EQT, EVH, FDS, FLEX, FMC, FTNT, FTV, FWRD, FNV, FCX, GPN, GOOGL, HBI, THG, HOV, HUN, HURC, IDA, TILE, JBLU, KBH, K, KMT, KSS, LRCX, LMT, MHO, MLKN, MCO, ^IXIC, NTGR, NEU, NEE, NKE, NI, JWN, NWPX, NTNX, OGE, OMC, OMI, OXM, PANW, POR, PPL, PINC, PEG, PHM, RGLD, RES, SAIA, SBH, SIGI, SRE, SLGN, SO, SPSC, TPR, TECH, TOL, VEEV, MDRX, V, VMC, WRB, WERN, WU, WWD, IDU, FXL, BOTZ, IYH, IAT, IEV, IGV, ILF, IYF, EWO, EWK, EEM, EIS, EWM, EPP, EWS, EWL, THD, TUR, EWU, PBE, XLP, XLV, XLU, VHT, VONG. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

Wednesday 10/30/24. A Look at the Chart Pattern Indicator (CPI)

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

I only show one chart today because you can see the indicator. It's the thin blue line near the bottom of the chart.

The CPI is bearish and it has been bearish for about a week now. That means it won't change (signals can change for up to a calendar week). The signal changed from neutral to bearish at about the time the index peaked.

Because the indicator is near the bottom of the scale, it can't go much lower (0 is the lowest). Usually the CPI reaches a low and bounces upward. You can see the dip in April and between the bars in August.

So we might see some weakness in the next few days but perhaps a recovery next week. That's my guess.

$ $ $

Here's a symbol list of 161 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ALRM, AA, AMED, AMWD, APA, ACGL, AVNT, BALL, BZH, BERY, BBY, BKNG, BOOT, CDNS, CE, CX, CNC, CNP, CENX, CF, CINF, CLNE, CNA, CNX, CMCO, CSGP, COST, CRH, CROX, CTS, CW, DUK, EXP, EMN, EBAY, EIX, ELV, EPAM, EVH, FFIV, FTNT, FTV, FWRD, GE, GPN, GPRO, GFF, HBI, HLIT, HQY, HTLD, HL, HNI, HD, DHI, HWM, HUN, HURC, IDA, INFN, ITGR, TILE, ISRG, KBH, K, LZB, LRCX, LDOS, LEN, LMT, LOW, MHO, MTRX, MLKN, MCO, MUR, ^IXIC, NEE, NKE, JWN, NWPX, NUS, OMI, OXM, PANW, PEN, PETS, PFE, PINC, PFG, PEG, PHM, QTWO, KWR, RGS, RNG, ROST, SIGI, SMTC, SLGN, SKYW, SO, SCCO, SR, SCS, SNPS, TOL, RIG, VEEV, VRSN, VRTX, V, WRB, WU, WPM, WSM, ITA, IYK, IYE, FDN, FXL, BOTZ, QQQ, IYZ, IGV, IXC, ILF, SLV, ITB, ECH, EWJ, EPP, EWS, EWP, EWL, TUR, PHO, XLP, GLD, XHB, UNG, USO, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

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

Tuesday 10/29/24. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Wolverine World Wide: WWW stock.

$ $ $

Here's a symbol list of 156 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABM, AYI, ADBE, AKAM, ALK, ALKS, AME, AMN, APH, ANIK, APA, AMAT, ADM, ASH, BALL, BZH, BBY, BFH, BRKR, BLDR, CDNS, CX, CNP, CF, CRL, CMCO, CMTL, COP, CXW, GLW, CSGP, COST, CR, CRH, DVN, FANG, DFS, DOV, EMN, EBAY, ECL, ELV, EPAM, XOM, FDS, FORM, FNV, FDP, GPRO, HLIT, HIG, HE, HQY, HSII, HP, HSIC, HD, IEX, ITW, IBKR, IPI, KALU, K, KMT, MHO, MGY, MCHX, MSFT, MOS, MUR, NFLX, NEU, NWPX, NVDA, OXY, PANW, PYPL, PFE, QCOM, REGN, RGA, ROL, RGLD, RES, SBH, SHOP, STR, SCCO, SWX, SNPS, TRGP, TDY, RIG, TZOO, UIS, VLO, VRTX, WMB, WOLF, IYM, IYC, IYE, IHE, DDM, FTEC, FXI, BOTZ, IEV, IXC, MXI, IGE, IEO, ECH, EEM, EWQ, EWG, EIS, EWI, EWM, EWS, EWY, EWP, THD, QLD, PBE, PEJ, PXJ, PJP, PHO, SSO, XLE, SPY, XLK, USO, VIS, VONG. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

Monday 10/28/24. Market Monday: The Week Ahead

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

My Prediction

I show the Nasdaq composite on the daily scale.

Outlined in red is a chart pattern called a rising wedge. That's when the price movement follows two up-sloping and converging trendlines.

The breakout from rising wedges is downward 60% of the time (in stocks) according to my book, Encyclopedia of Chart Patterns, 3rd Edition #AD.

Given that the index is approaching overhead resistance setup by the July peak, I'd look for the index to drop soon.

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 184 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACIW, AEIS, AKAM, ALK, ALKS, ALGT, AMZN, DOX, AMWD, APH, AON, ARW, AGO, ATO, ADP, BCPC, BAX, BZH, BERY, BBY, BMRN, BAH, BR, CBT, CNC, CDAY, CSCO, CLF, CL, CMCO, ED, COST, CROX, CCRN, CSGS, CMI, DECK, XRAY, DFS, DOV, DUK, EMN, EBAY, EIX, EL, EVRG, FIS, FISV, FIVN, FTV, FCX, FDP, GIS, GL, GS, GOOGL, GPRO, GFF, GES, THG, HIG, HSII, HSY, HNI, HD, HON, DHI, JBHT, HUN, IDA, NSP, IBKR, TILE, JKHY, KBH, KELYA, LZB, LAMR, LEN, MHO, MCHX, MKTX, MAS, MGEE, MSFT, MCO, MS, MOS, ^IXIC, NFG, NJR, NWL, NKE, ORI, OLN, ASGN, ON, OUT, OXM, PKG, PANW, PATK, PDCO, PTEN, PYPL, PCG, PNW, PPG, PFG, PHM, RMBS, RRC, RLI, RHI, ROL, SCHW, SMG, SEE, SHW, SLGN, STR, SWX, SPSC, SNPS, TRGP, TDOC, TDY, TEVA, TSCO, TWLO, UHAL, VLO, VMI, MDRX, V, WMT, WU, WEX, WPM, WMB, WSC, XEL, IAI, IYC, IDU, FTEC, FDN, QQQ, ILF, IYF, ITB, EWS, EWT, XLF, GLD, XHB, USO, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

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

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

Friday 10/25/24. Pattern Trading Setups for the Weekend.

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: ANF, ABM, ALK, ALL, DOX, AMED, AEE, AEO, AEP, ARCB, ADP, AVNT, BCPC, BMRN, BKH, BOOT, BSX, CE, CLS, CNC, CF, CINF, CTAS, CSCO, CNO, CTSH, CAG, COST, CRH, ^DJU, DOV, DTE, DUK, EIX, EVRG, FISV, FTV, FCX, FRD, GL, GOOGL, GPRO, GFF, HTLD, HL, HSIC, HON, HOV, HUM, HUN, HURC, IDA, IDXX, ILMN, NSP, IBP, IPI, KALU, L, MRO, MCHX, MRTN, MCO, MOS, MUR, NBR, NOV, NJR, NWL, NKE, NTNX, OGE, ORI, OMCL, OMC, ASGN, PANW, PTEN, PYPL, PCG, PNW, PLXS, POR, RRC, RJF, ROG, ROL, ROST, RES, R, CRM, SBH, SEIC, SCI, SKYW, SNPS, TRGP, TFX, TER, TEVA, TXT, TSCO, TDG, UHAL, WU, WEX, WPM, WSC, IYK, IEZ, IDU, FXL, BOTZ, IGV, MXI, ILF, EWO, ECH, EIS, EWM, EWT, THD, PBE, PXJ, PHO, XLY, USO, VAW. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

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

Thursday 10/24/24. Intraday Market Direction: Nasdaq

$ $ $

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

As the chart shows, the Nasdaq punched through the up-sloping trendline formed over the past week, and sank almost 300 points.

A check of the headlines says it was because of earnings reports and worries about rising treasury yields.

If we consider today's sharp decline as a dead-cat bounce, we should see the index bounce (which it has already started) followed by another decline that ends just below today's (Wednesday) low (below 18,146).

According to the tally's listed at the top of this post, tomorrow should end higher 51% of the time. That means it's about random. Take your pick.

$ $ $

Here's a symbol list of 147 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, A, AEE, AEO, AMWD, APH, ANIK, ARCB, AVY, AVNT, BZH, BRKR, BLDR, BG, CBT, CAL, CLS, CNC, CDAY, CNA, ED, CSGP, COST, CR, DHR, DTE, EXP, EMN, EIX, EVH, EXC, FFIV, FTV, FDP, IT, GIS, GMS, GPRO, GGG, GFF, GES, THG, HSY, HNI, HUM, HUN, IDA, IBP, IPAR, TILE, JKHY, KBH, KSS, KLIC, LEN, RAMP, LMT, M, MANH, MCHX, MAS, MCO, MUR, NOV, NKE, OMCL, OMI, PKG, PANW, PATK, PYPL, PPG, PEG, PSTG, RL, RJF, RNG, ROP, SPSC, SNPS, TPR, TDOC, TDY, TPX, TEVA, TMO, TOL, TZOO, UHAL, UNH, VMI, VECO, VC, WMT, WSO, WU, WEX, WSC, WDAY, IAI, IYK, BOTZ, ICF, IHF, IEV, MXI, EWA, EWO, EWK, EWG, EWJ, EWM, EPP, EWD, EWL, THD, EWU, DBA, PBE, PXJ, ROBO, XHB, XRT, VIS. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

Wednesday 10/23/24. A Look at the Chart Pattern Indicator (CPI)

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

The indicator turned red (bearish) but signals can change for up to a week, so don't be alarmed. A strong recovery in the index could flip the CPI to bullish.

Given that we're breaking out to new highs, there should be some hesitation, though, in buying new positions or adding to existing ones.

Here's the CPI without the signal changes showing.

I drew a green line from the CPI peak to where it lands on the index. The CPI has been signaling weakness for more than a week now.

Again, this is a time for caution.

$ $ $

Here's a symbol list of 158 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, A, ALRM, AEO, AMWD, APOG, AWI, ARW, AVY, AVNT, AXS, BZH, BRKR, BBW, BLDR, CBT, CDNS, CLS, CI, CINF, CLF, CLX, CAG, CR, CCRN, DHR, ^DJU, DUK, BOOM, EMN, EBAY, ECL, EL, EVH, FDS, FDP, FRD, IT, GILD, GMS, GOOGL, GPRO, GGG, GES, THG, HLIT, HAYN, HNI, HOLX, HD, HON, HOV, HUN, HURC, IDA, PODD, TILE, IPG, K, KMB, KSS, KLIC, LRCX, LEG, M, MCHX, MKTX, MAS, MTRN, MRCY, MCO, MOS, ^IXIC, NTAP, NWL, NOC, OMI, PANW, PATK, PCTY, PETS, PCG, PNW, PPG, KWR, DGX, RL, ROL, SAND, SLB, SAIC, NOW, STR, SXI, SNPS, TPR, TDY, TPX, TDC, TXN, TMO, RIG, TZOO, TG, TREX, UHAL, VC, WRB, WMT, WERN, WU, WSC, ITA, IYZ, IEV, MXI, SLV, EWO, EWK, EWG, EWJ, EPP, EWY, EWD, EWL, THD, PPA, DBA, PBE, PJP, ROBO, XRT, XAR, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

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

Tuesday 10/22/24. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring WPS Resources: WPS (actual trade).

$ $ $

Here's a symbol list of 165 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACIW, AES, ATSG, ALKS, AEE, AEO, AXP, AFG, AMWD, APH, ANIK, AAPL, AWI, ARW, AVA, AXS, BCPC, BIIB, BA, BKNG, BSX, BRC, BBW, BG, CDNS, CAL, CENX, CF, CI, CINF, CLF, CNA, CNO, CMCO, ED, CAG, CXW, CRH, CCRN, DVN, FANG, DDS, ^DJU, DOV, DTE, DUK, BOOM, ECL, EIX, EME, EVH, FTNT, FNV, FDP, FRD, GIS, GPRO, GES, THG, HL, HSII, HSIC, HOV, HUM, JBHT, HURC, IDA, NSP, IPAR, TILE, KALU, K, KELYA, KMB, KSS, LZB, LRCX, LLY, LXU, MTSI, MGY, MAS, MOS, NFLX, NTGR, NWL, NVDA, OMCL, ASGN, OR, PANW, PATK, PTEN, PETS, PCG, PLXS, PPL, PINC, QTWO, KWR, RL, RGS, ROP, SAIA, SAND, SAIC, SRE, SMTC, STR, SCS, SUM, TRGP, TGT, TPX, TDC, TXN, TZOO, TG, UHAL, VFC, VLO, VC, WRB, WSO, WU, WPM, WSM, IYK, IHE, FTEC, FXI, IAT, MXI, EWO, EWK, ECH, EWH, EWJ, EWY, EWD, TUR, PBE, PJP, XLK, VAW, MGK. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

Tuesday 10/22/24. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring WPS Resources: WPS (actual trade).

$ $ $

Here's a symbol list of 165 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACIW, AES, ATSG, ALKS, AEE, AEO, AXP, AFG, AMWD, APH, ANIK, AAPL, AWI, ARW, AVA, AXS, BCPC, BIIB, BA, BKNG, BSX, BRC, BBW, BG, CDNS, CAL, CENX, CF, CI, CINF, CLF, CNA, CNO, CMCO, ED, CAG, CXW, CRH, CCRN, DVN, FANG, DDS, ^DJU, DOV, DTE, DUK, BOOM, ECL, EIX, EME, EVH, FTNT, FNV, FDP, FRD, GIS, GPRO, GES, THG, HL, HSII, HSIC, HOV, HUM, JBHT, HURC, IDA, NSP, IPAR, TILE, KALU, K, KELYA, KMB, KSS, LZB, LRCX, LLY, LXU, MTSI, MGY, MAS, MOS, NFLX, NTGR, NWL, NVDA, OMCL, ASGN, OR, PANW, PATK, PTEN, PETS, PCG, PLXS, PPL, PINC, QTWO, KWR, RL, RGS, ROP, SAIA, SAND, SAIC, SRE, SMTC, STR, SCS, SUM, TRGP, TGT, TPX, TDC, TXN, TZOO, TG, UHAL, VFC, VLO, VC, WRB, WSO, WU, WPM, WSM, IYK, IHE, FTEC, FXI, IAT, MXI, EWO, EWK, ECH, EWH, EWJ, EWY, EWD, TUR, PBE, PJP, XLK, VAW, MGK. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

Monday 10/21/24. Market Monday: The Week Ahead

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

My Prediction

This is a picture of the Dow industrials on the daily scale. There's not much I can say about this.

A double top appears at AB, confirmed when the index closes below the low at C.

If you're an Elliott wave counter (and I'm not), but it looks like this is wave 5 (numbered on the chart). After that should come an ABC correction unless we get an extension.

Other than that, there's not much to say except the altitude is getting thin up here. Bring bottled oxygen.

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 169 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACIW, ATSG, ALK, ALKS, AMZN, DOX, AEE, AEO, APH, AR, AAPL, ARCB, ARW, BCPC, BALL, BBY, BA, BKNG, BOOT, BSX, BRC, BFH, BCO, BG, CAL, CF, CI, CLF, CNA, CNO, CL, CMCO, ED, CXW, CRH, CROX, CCK, CTS, DDS, DOV, BOOM, EMN, EBAY, EQT, EVH, EXPI, FICO, FIVN, FNV, GIS, GNW, GPRO, GES, HBI, HLIT, HSII, HSIC, HNI, HWM, HUM, JBHT, HUN, IDA, NSP, IIIN, IPG, ISRG, KELYA, KSS, KLIC, LXU, MGY, MAN, MCHX, MLI, NOV, NFLX, NTGR, NWL, NEU, NI, OGE, OLN, OMCL, ASGN, PKG, PATK, PYPL, PLXS, PPL, PGR, RGS, RGA, RNG, ROK, ROG, ROP, RES, R, SBH, SLB, SMG, SMTC, SWX, SXI, SCS, SUM, TGT, TXN, TTD, TOL, TSCO, TZOO, TWLO, UHAL, UGI, VFC, VMI, VEEV, V, WMT, WSO, WPM, DDM, FXI, BOTZ, QQQ, ICF, IAT, SLV, ITB, IHI, EWH, EWI, EWM, EZA, EWY, EWP, QLD, PXJ, PJP, GLD, XLV, UNG. Click this link for details (pattern type, start and end dates).

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

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

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

Friday 10/18/24. Pattern Trading Setups for the Weekend.

Here's a symbol list of 194 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, AXDX, AES, A, ALK, ALKS, DOX, AMED, AXP, AIG, AMWD, APH, ANET, AWI, AGO, ATO, AVY, BMI, BCPC, BBY, BMRN, BKNG, BSX, BFH, BCO, CBT, CALM, CNC, CENX, CF, CINF, CNA, CL, CMTL, ED, CRH, CROX, CTS, CMI, XRAY, DDS, DSGR, ^DJT, ^DJI, EBAY, EIX, ELV, EPAM, EVH, EXC, EXPI, FICO, FRD, GIS, GOOGL, HBI, THG, HLIT, HIG, HSY, HWM, JBHT, HURC, INCY, IIIN, IPG, JBLU, KMB, LH, LAMR, LANC, LXU, MTSI, M, MCHX, MDT, MGEE, MU, MUR, NOV, NTGR, NVDA, OGE, ORCL, PKG, PDCO, PTEN, PEN, PCG, PNW, PLXS, POR, PPL, PFG, PGR, PHM, PSTG, QCOM, RGS, RGA, RES, ^GSPC, SEE, SMTC, SCI, LUV, SWX, SXI, SUM, TPR, TRGP, TGT, TECH, TDOC, TXN, TSCO, TRV, TZOO, UHAL, VFC, VRSN, V, WRB, WSO, WSM, IYK, IYC, IDU, DDM, FTEC, FDN, FXL, FXI, BOTZ, IHF, IYZ, MXI, IXN, IYF, EWC, EWH, EWI, EWJ, EPP, EWS, EWY, EWD, EWT, THD, TUR, IBB, PPA, PBE, PXJ, SSO, XLP, XLF, XHB, SPY, XLK, UNG, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

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

Thursday 10/17/24. Intraday Market Direction: Nasdaq

$ $ $

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

At AB, we see the index form a chart pattern called a double top. It confirms as a valid chart pattern when the index closes below line C.

The remainder of the letters describe the components of what is called a dead-cat bounce except it applies not to a stock, but to a market index. By that I mean I'm not looking for a 15% or larger drop in the event decline.

Let me explain. The event decline is the big drop from B to D. It's a swift drop that in stocks often shows a gap but price drops dramatically in one day or just a handful of days. Price bounces up to E before sinking lower to F. Notice that F is below the bottom of the event decline at D. Then we get a recovery, to G and beyond. This is textbook.

What does this mean going forward? My guess is a continued rise.

$ $ $

Here's a symbol list of 139 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ANF, AMD, AFL, ATSG, ALKS, AEE, APH, AR, APA, AMAT, ATR, AWI, ATO, AVY, BIO, CNC, CF, CSCO, CLNE, COP, CXW, CSGP, COTY, CRH, CROX, CTS, DVN, DDS, DFS, ^DJU, ELV, EOG, XOM, FISV, FIVN, FLEX, FTV, FCX, FDP, FRD, GME, GAP, GD, GMS, GPRO, HLIT, HL, HD, HON, JBHT, IDXX, IPAR, IPG, IPI, JBLU, K, LRCX, LAMR, LANC, LMT, LOW, MHO, MGY, MAN, MRO, MRCY, MCO, MS, MUR, NFG, NOV, NTGR, NKE, NUS, OXY, OLN, PKG, PKE, PLXS, RMBS, RRC, RTX, RGS, SLB, SEE, SMTC, SWX, SXI, SUM, SNPS, TGT, TDOC, TER, TMO, TOL, TSCO, TDG, TZOO, VFC, VLO, VRSN, VRTX, V, WSO, WOLF, WDAY, IEZ, DDM, FXI, IYH, IHF, IAT, IEV, IXC, SLV, IEO, IYF, EWO, EWK, EEM, EWG, EWH, EWM, EWY, EWD, PJP, XLE, XLV, UNG. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

Wednesday 10/16/24. A Look at the Chart Pattern Indicator (CPI)

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

The CPI is neutral as the vertical white bar on the far right of the chart indicates. For the last week, the markets soared and it pulled the indicator upward in a surprise move. Then, today, the tech market tumbled (Nasdaq down 1% or almost 200 points).

Here's the same chart without the vertical bars. Last week I discussed bearish divergence. I show that on the chart at A versus B and suggested the market would decline, following the indicator lower.

The decline, which had already happened when I wrote that, was at C. The markets have climbed since then.

As I mentioned, today's drop pulled the bullish CPI into the neutral zone. I suspect that this is a temporary decline and that we'll see a quick rebound. In fact, I bought an ETF today on that basis. But, of course, I can be wrong as I was a week ago (when I suggested a decline that wasn't C and didn't happen).

Trade well...

$ $ $

Here's a symbol list of 210 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, AEIS, AMD, ALK, ALKS, AMZN, DOX, AEE, AEO, AEP, AXP, AME, APH, AAPL, ACGL, ADM, AWI, AGO, ATO, AVY, AVA, BALL, BMRN, BCO, BBW, CBT, CAL, CX, CNC, CF, CHKP, CHD, CLX, CNO, COP, CXW, GLW, CR, CRH, CROX, CTS, FANG, DDS, ^DJI, DUK, ECL, EME, FFIV, FLEX, FTV, GAP, GE, GL, GS, HLIT, HL, HUBG, JBHT, IDA, IBP, IIIN, IPAR, IPG, ISRG, IRM, JBLU, KBH, K, KFRC, KSS, LHX, LZB, LRCX, LDOS, LMT, LPLA, MHO, MAN, MRO, MLM, MTRX, MCO, ^IXIC, NOV, NTGR, NTAP, NJR, JWN, NOC, OMC, OTEX, PKG, PCG, PLXS, POR, PINC, PHM, PSTG, QTWO, QCOM, RMBS, RRC, RJF, RGS, RGA, RNG, ^GSPC, SAIA, CRM, SLB, SCHW, SAIC, SEIC, SMTC, SKX, SWX, SUM, SNPS, TGT, TDOC, TFX, TDC, TXN, TMO, TJX, TOL, TDG, RIG, TRV, TZOO, UIS, UPS, VFC, VEEV, MDRX, VMC, WSO, WOLF, ITA, IAI, IHE, IDU, FTEC, FXL, FXI, QQQ, IAT, IEV, IXN, IYF, ITB, IHI, EWO, EWQ, EWG, EWH, EWJ, EWY, EWD, EWT, QLD, DBA, PBE, PEJ, SSO, XLP, GLD, XLI, SPY, XAR, XLK, UNG, USO, VIS, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

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

Tuesday 10/15/24. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring WM Wrigley: WWY stock.

$ $ $

Here's a symbol list of 139 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ANF, AXDX, AXP, AMWD, AMN, APH, ATR, AWI, ATO, AVY, AVA, BERY, BCO, BMY, BRKR, BBW, CBT, CNP, CHKP, CI, CTAS, CXW, CR, DDS, DFS, DSGR, ^DJI, EBAY, EXC, FICO, FORM, GD, GIS, GFS, GS, HBI, HLIT, HE, HTLD, HOV, IDA, IBP, IPAR, JBLU, KLAC, LRCX, M, MAN, MCHX, MLKN, MYGN, ^IXIC, NFLX, NTAP, NEU, NVDA, ORI, OTEX, OXM, PKE, PTEN, PEN, PCG, PPG, PINC, QCOM, RMBS, ^GSPC, SLGN, STR, SO, SWX, SSYS, SUM, SNPS, TPX, TDC, TOL, TG, UHAL, VEEV, MDRX, VMC, WU, WSM, WSC, WWD, IAI, IYK, IHE, IDU, DDM, FTEC, QTEC, FXL, BOTZ, QQQ, IAT, IGV, IXN, SOXX, EWO, EWK, EWI, EWW, EWS, EWD, TUR, QLD, PHO, SSO, XHB, SPY, XLK, XLU, UNG, SMH, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

Monday 10/14/24. Market Monday: The Week Ahead

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

My Prediction

I show the Dow transports on the daily scale. At DE, there's a chart pattern called a double top It confirms as a valid chart pattern when the index closes below F (which it does).

Compare that to the twin peak pattern at AB. To confirm, the index has to close below the lowest valley between the two peaks. In this case, though, confirmation doesn't happen.

However, if the index were to close above the top of AB (the taller of the two, which is A), it would suggest a strong move higher. No guarantee of that, of course, so we'll have to wait and see if the index climbs that far and then wait to see how far it rises.

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 will be starting in about 2 days.

Here's a symbol list of 176 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ABM, AXDX, ACIW, ADTN, ATSG, ALK, ALKS, ALGT, AMZN, AEO, AXP, AAPL, ATR, AWI, ARW, AVY, AVNT, BCPC, BA, BCO, CBT, CACI, CPB, CLS, CENX, CRL, CVX, CSCO, CLF, CLX, CMCO, COTY, CR, CCK, CSGS, DHR, FANG, DDS, DSGR, ^DJI, ECL, EME, EQT, XOM, FARO, FAST, FORM, FNV, FRD, GFS, GS, GPRO, GFF, HLIT, HSY, HNI, HOLX, HON, DHI, IDA, IEX, ITW, NSP, IIIN, IPAR, TILE, IPI, JAZZ, JBLU, KLIC, LZB, LANC, LPLA, M, MGY, MANH, MAN, MKTX, MRTN, MAS, MA, MU, MLKN, MLI, ^IXIC, NFLX, NWPX, NOVT, NVDA, ASGN, OR, PKG, PATK, PDCO, PTEN, PLXS, PPG, PINC, PEG, QTWO, RJF, RCKY, ROG, RGLD, ^GSPC, SAND, SEE, SIGI, SMTC, STR, SKX, SWX, SR, SCS, TPR, TGT, TPX, TDC, TER, TXN, TXT, TKR, TDG, TZOO, TWLO, UIS, VMI, VEEV, WU, WEX, WSC, WOLF, ITA, IYM, IYC, IHE, DDM, FXL, BOTZ, ICF, IHF, IAT, IEV, IGV, IYF, EWG, EWI, EPP, EWL, DBA, PBE, PHO, SSO, XLF, XLI, SPY, XAR, VIS, VAW, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

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

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

Friday 10/11/24. Pattern Trading Setups for the Weekend.

Here's a symbol list of 141 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AYI, AMD, ALK, ALB, ALL, AEE, AEO, AEP, AIG, AMN, AVNT, AXS, BSET, BZH, BKH, BA, CAL, CE, CNC, CENX, CF, CVX, CHD, CGNX, CTSH, CL, ED, COST, COTY, CR, CCK, CTS, DVN, DDS, EIX, EVRG, EVH, EXC, EXPI, FARO, FMC, GIS, GFS, GS, GPRO, GFF, HSII, IDA, IEX, IPAR, IPI, JAZZ, JBLU, KALU, KELYA, KMB, KLIC, LZB, LEG, LLY, MAN, MCHX, MRTN, MA, MRCY, MLI, ^IXIC, NFG, NFLX, NJR, NTNX, NVDA, OGE, PATK, PDCO, PTEN, PEN, PLXS, PPG, PPL, RNG, RCKY, SBH, SEE, STR, SR, SCS, SSYS, SRDX, TPX, TDC, TXT, TG, TREX, UGI, VFC, VMI, VMC, WERN, WSM, WSC, IYM, IHE, QQQ, IHF, IGV, MXI, EWJ, EWS, EWP, EWD, PBE, XHB, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

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

Thursday 10/10/24. Intraday Market Direction: Nasdaq

$ $ $

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

At BC, we see a twin peak pattern called a double top. It confirms as a valid chart pattern when the index closes below the horizontal red line. In this case, the index dropped only to A, far less than it should have.

At A, we see a small double bottom but this one accompanies a huge rise (compared to the size of chart pattern A).

My guess is the failure of the BC pattern to see price drop far suggested a big increase to come. I don't know if the markets work like that, but I've used the notion to my advantage in the past (think busted chart patterns).

$ $ $

Here's a symbol list of 105 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, ACN, AMD, AES, ALK, AA, ALGT, AEP, AFG, AMWD, ADM, AWI, BA, BR, CAL, CTAS, CTSH, CL, CSGP, CW, DDS, EMN, EME, EG, EVRG, EXPI, FICO, FARO, FLEX, FMC, GAP, GE, GIS, HE, HELE, HP, INFN, INTC, IPAR, IPG, JBLU, LZB, MANH, MTRN, MGEE, MS, MYGN, NBR, NFLX, NJR, JWN, NOVT, NTNX, NVDA, ORI, PKE, PTEN, PPG, PPL, RRC, RJF, RGS, ROG, ROP, R, ^GSPC, SCI, NOW, STR, SO, SCS, SRDX, TPX, RIG, UPS, VECO, MDRX, WU, WSM, WSC, IYM, FXL, QQQ, IGV, EWZ, EWG, EWJ, EWU, PPA, PBE, SSO, ROBO, XLF, SPY, VONG. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

Wednesday 10/9/24. A Look at the Chart Pattern Indicator (CPI)

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

As the chart shows, the indicator has been vacillating between neutral (gray bars) and bearish (red bars) on the far right of the chart.

That's not as alarming as what the next chart shows.

From the vertical red line on the chart, in September, notice that the CPI peaked even as the index made a minor low.

From that point, the CPI dropped and the index climbed. That's bearish divergence. Bearish divergence suggests, but does not guarantee, that the index will follow the indicator lower. It's a bearish signal.

It doesn't always work. Plus, you don't know when the index will drop. The indicator has been signaling a downturn for almost a month now but the index doesn't care. It continues to rise. However, I think the party is about over. I'll buy more when we see a dip, probably before month's end.

$ $ $

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: ABM, AES, AKAM, ALK, ALKS, ALGT, AMZN, AMWD, APH, AON, AAPL, ADM, BCPC, BSET, BA, CDNS, CALM, CF, CHD, CNO, GLW, CR, DDS, DFS, DUK, EMN, EVH, EXC, FARO, FIVN, FMC, GIS, GNW, GGG, HELE, HSY, HNI, INFN, IPAR, ISRG, JBLU, K, KELYA, MGEE, MLKN, MYGN, NOVT, NTNX, NVDA, OGE, OTEX, OMI, PKE, PDCO, PTEN, PPG, PG, RTX, RGS, ROG, ROL, R, SAND, SEIC, SCI, STR, SCS, SNPS, TDOC, TDC, TTD, TSCO, TDG, RIG, TZOO, TG, UPS, MDRX, VRTX, WAT, WPM, WSC, IYM, IYC, FXL, BOTZ, IHF, IGV, MXI, ILF, IHI, EWO, EWK, EWZ, EWG, EWU, XLY, XLP, XAR, UNG, MGK. Click this link for details (pattern type, start and end dates).

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

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

Tuesday 10/8/24. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Wyeth: WYE stock.

$ $ $

Here's a symbol list of 130 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AFL, ALKS, DOX, AEO, AEP, AME, AMGN, AMN, ANIK, APA, ARCB, ACGL, AXS, BCPC, BZH, BBY, BIO, BOOT, BLDR, CDNS, CX, CF, CRL, CHKP, CHD, CINF, CNA, CL, CMCO, CAG, DUK, BOOM, EIX, EMR, EVH, EXC, EXPI, FDS, FIVN, FTNT, FCX, GPRO, HL, HSY, HUM, NSP, PODD, JBLU, KBH, KELYA, LHX, LH, LNC, L, MRTN, MS, MOS, NTNX, NVDA, OGE, OMI, OXM, PDCO, PEN, PFE, PNW, PPL, PFG, PG, RGS, RGA, RNG, RLI, RCKY, ROG, ROP, RGLD, SAND, SAIC, SEIC, SMTC, SCI, SMAR, SRDX, SNPS, TDOC, TPX, TMO, RIG, TWLO, VFC, VMI, WERN, WU, WPM, WWW, IYK, IHE, FXI, ICF, IYH, IHF, IHI, EWO, EEM, IBB, DBA, PBE, PJP, XLP, XLF, XLV, UNG. Click this link for details (pattern type, start and end dates).

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

$ $ $

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

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

Monday 10/7/24. Market Monday: The Week Ahead

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

My Prediction

I show the Dow utilities on the weekly scale so I'll have something to write about.

The ABCD pattern is called a measured move up. AB is the first leg, CD is the second leg, and BC is the corrective phase.

The theory behind the pattern is that CD will approximate the length and duration of AB. That's rarely true, but let's see how it works in this case.

AB is 139 points tall (957-818). Add that to the bottom, C (897), gives a target of 1036. The index hit a high of 1070 at D. In this case, the measure rule worked. I didn't calculate the date differences, so I don't know how close it came to the duration. However, they both appear to be about 3 months long.

What I like most about the MMU is not the prediction of how far CD will rise, but what happens after the pattern ends. You'll often see a retrace from D back to somewhere in BC (corrective phase).

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 9 days.

Here's a symbol list of 166 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, ACIW, AYI, ALB, ALKS, DOX, AEP, AXP, AME, AMN, ANIK, APA, APOG, ARCB, ACGL, AWI, AGO, ATO, AVNT, AXS, BCPC, BZH, BIO, BOOT, BBW, BLDR, BG, CAL, CLS, CX, CHD, CINF, CNA, CL, ED, CCRN, DECK, DVN, FANG, ^DJU, DUK, BOOM, EMN, EBAY, EIX, EQT, EG, EXPI, FDX, FLEX, FNV, GAP, GE, GNW, GS, HBI, THG, HIG, HTLD, HSII, DHI, HOV, HUBG, JBHT, IDA, IDXX, NSP, PODD, IBKR, JBLU, KBH, KFRC, KMB, LZB, LH, LEN, L, LPLA, LXU, MHO, MTSI, M, MGY, MAS, MTDR, MS, NOV, NFLX, NUS, NTNX, OGE, OMCL, OR, OXM, PATK, PTEN, PETS, PCG, POR, PPL, KWR, RJF, RGA, RNG, RLI, RCKY, ROST, CRM, SBH, SIGI, SCI, NOW, SMAR, LUV, SPSC, TDC, TOL, RIG, TRV, UNM, VC, WAT, WERN, WMB, WSM, WWW, WDAY, XEL, IEZ, FDN, FXL, FXI, ICF, IYH, MXI, IGE, ITB, IHI, EWA, EWC, EWM, EWW, EWL, PBE, PXJ, ROBO, XLP, XLF, XLV, XHB. Click this link for details (pattern type, start and end dates).

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

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

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

Friday 10/4/24. Pattern Trading Setups for the Weekend.

Here's a symbol list of 148 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AEIS, ALRM, ALKS, ALL, AMZN, AEE, AEP, AMN, AON, APA, ARCB, AIZ, AVNT, BBY, BIO, BA, BMY, CAL, CPB, CX, CNC, CHD, CNA, CL, ED, CAG, COTY, CRH, CCRN, XRAY, ^DJU, EMN, EIX, EVH, EXPI, EZPW, FDS, FDX, FNV, IT, GE, HIG, HTLD, HELE, HP, HON, HWM, HUBG, JBHT, IDXX, INFN, NSP, IIIN, PODD, IBKR, IPG, JAZZ, KALU, KBH, KMT, KFRC, LZB, LEG, L, M, MGY, MKTX, MRTN, MTRN, META, MU, MUR, NOV, NUS, NTNX, NVDA, OGE, OR, OXM, PATK, PDCO, PCG, POR, PPL, PEG, KWR, DGX, RLI, SBH, SEE, SRE, SCI, NOW, LUV, SPSC, SCS, TOL, TDG, TRV, TREX, VC, WWW, XEL, IYK, IYC, IEZ, IYH, IHF, IEV, MXI, SLV, IGE, EWO, EWK, EWZ, ECH, EWQ, EWG, EWI, EWM, EWS, EWD, EWL, THD, TUR, EWU, PJP, XLP, XLV, XLB, XAR, USO, VAW. Click this link for details (pattern type, start and end dates).

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

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

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

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

For details about the chart patterns, click here.

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

Thursday 10/3/24. Intraday Market Direction: Nasdaq

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

The index followed the channel, shown here in green lines, until Friday. During trading on Friday, the index pierced the lower boundary of the channel.

The index took a big plunge on Tuesday before finding bottom at valleys AB. That pattern (AB) is a confirmed double bottom when the index closed above the highest peak between bottoms A and B.

However, the index climbed less than 100 points (a bit less than predicted) before forming a weird looking symmetrical triangle. I say weird because the bottom trendline curves (see red curved line on chart).

I took a glance at the CPI and it showed the markets were still neutral but it had a reading slightly above 35 (35 is bearish). So my guess is the index will drop.

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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: MMM, AXDX, APD, ALB, ALKS, AME, AMN, AR, APA, ACGL, ADM, ANET, ARW, AGO, BMI, BSET, BIO, BFH, BMY, CPB, CX, CNC, CDAY, CI, CLNE, CLF, CL, DHR, XRAY, DDS, ELV, EME, EVH, EXC, EZPW, GME, GL, GPRO, THG, HLIT, HUM, NSP, PODD, IBKR, IRM, KALU, KBH, KFRC, LEG, LDOS, L, MGY, MRTN, MTDR, MTRN, MUR, NWL, NKE, NUS, NTNX, PDCO, PCTY, PYPL, PETS, PCG, RHI, SBH, SAIC, SEIC, SCI, NOW, SKYW, SXI, SSYS, TECH, TZOO, TG, WERN, WMB, FXI, IYH, IHF, EWK, EWQ, EWH, EWM, EWP, TUR, PBE, XLP, XLV. Click this link for details (pattern type, start and end dates).

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

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

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

Wednesday 10/2/24. 2024 Forecast Update

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

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Here's a symbol list of 159 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AYI, AMD, AES, ALKS, AEE, AXP, AME, AMN, ANIK, AON, APA, AMAT, ACGL, ADM, AWI, ATO, BCPC, BAX, BIO, BIIB, BMRN, BKNG, BMY, BG, CPB, CX, CNC, CLNE, ED, COP, CTS, DHR, XRAY, DFS, ^DJU, DTE, EBAY, ECL, EPAM, EFX, EG, EVH, XOM, FICO, FARO, FDX, FIVN, FTV, GME, GD, GFS, HLIT, HTLD, HP, HON, HUN, IDA, NSP, PODD, IBKR, JAZZ, KBH, KLAC, RAMP, MGY, MANH, MRO, MTDR, MRCY, MU, MCO, MOS, MUR, NFLX, NWL, NEU, NUS, NTNX, NVDA, OMI, PAYX, PYPL, PETS, PPL, PINC, QTWO, RMBS, RHI, RCKY, ROG, ROP, RES, SLB, SIGI, SRE, NOW, SXI, SSYS, TECH, TEVA, TTD, TOL, TDG, RIG, TG, UHAL, UNH, VLO, VECO, WU, WPM, WSC, XEL, IYM, IAI, IEZ, FDN, QTEC, FXL, BOTZ, IEV, IGV, IXN, IEO, IHI, EWK, EWZ, EWQ, EWI, EWY, EWD, EWL, EWT, TUR, EWU, DBA, PXJ, PJP, USO, SMH, VHT, VAW, VONG. Click this link for details (pattern type, start and end dates).

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

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

Tuesday 10/1/24. Slider Trading Quiz!

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I show another slider trading quiz featuring Xcel Energy: XEL stock.

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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: ACIW, AYI, AEIS, AEE, AFG, AON, AAPL, ADM, AIZ, ATO, ADSK, AXS, BAX, BBY, BIO, BMRN, BRC, BFH, BR, BBW, CPB, CIEN, CSCO, CNO, CMCO, CMTL, CCK, CW, DTE, DUK, EME, FORM, GIS, GPRO, GFF, HE, HSII, HNI, HON, HWM, IBKR, JBLU, KLIC, LZB, RAMP, MAS, MLI, NFLX, NEU, NOC, NOVT, NTNX, ASGN, PEN, PFE, PPL, PINC, PRU, QTWO, REGN, ^GSPC, SBH, SIGI, SLGN, SCS, SSYS, TDOC, TER, TEVA, TTD, VC, WRB, WSC, XEL, ZBRA, IHE, IGV, IYF, EWO, EWZ, ECH, EWH, EWJ, EWP, EWD, IBB, PEJ, PJP, SSO, XLI, SPY, VHT. Click this link for details (pattern type, start and end dates).

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

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

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