As of 12/27/2024   Indus: 42,992 -333.59 -0.8%     Trans: 16,031 -73.46 -0.5%     Utils: 987 -4.51 -0.5%     Nasdaq: 19,722 -298.33 -1.5%     S&P 500: 5,971 -66.75 -1.1%	YTD  +14.1%    +0.8%    +12.0%    +31.4%    +25.2%	Targets    Overview: 12/12/2024     44,200 or 41,750 by 01/01/2025   16,700 or 15,500 by 01/15/2025   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 12/27/24

As of 12/27/2024   Indus: 42,992 -333.59 -0.8%     Trans: 16,031 -73.46 -0.5%     Utils: 987 -4.51 -0.5%     Nasdaq: 19,722 -298.33 -1.5%     S&P 500: 5,971 -66.75 -1.1%	YTD  +14.1%    +0.8%    +12.0%    +31.4%    +25.2%
Targets    Overview: 12/12/2024     44,200 or 41,750 by 01/01/2025   16,700 or 15,500 by 01/15/2025   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 12/27/24

Wednesday 9/30/20. Indicators Mildly Bullish

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 CPI has been bullish for two days now, despite today's (Tuesday's) downdraft (in the Dow industrials).

The signal might be misleading because it can change for up to a calendar week. A big move will flip chart patterns waiting on the sidelines to signal, changing the outcome of the CPI.

Having said that, we're still looking at a bullish signal. What might happen, and perhaps it's likely, is that the index retraces for a few more days and then trends lower. I didn't factor that scenario into my targets at the top of this page. Sigh.

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).

The chart shows a big dip in both lines during this past week, but it's most pronounced in the red line. The red line is the more sensitive of the two.

Both charts this week are bullish. Not wildly bullish, mind you, but bullish nevertheless. So it looks like the indices have a shot a continuing higher over the next 2 weeks.

$ $ $

Here's a symbol list of 120 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ALRM, ALKS, AMZN, AEO, AAPL, ARW, ASH, AGO, AVA, BZH, BERY, BBY, BIG, BKH, EPAY, BLDR, CDNS, CAL, CX, CF, CVX, CIEN, CLF, CNA, CONN, CR, CROX, CW, DVN, EXP, EBAY, EIGI, FIS, FEYE, FLS, FWRD, GME, GFF, GES, HLIT, HNI, HURC, IDXX, INFN, INOV, IPI, INTU, JBLU, KBAL, KMB, LB, LANC, LAWS, LXU, MAN, MA, MRK, MGEE, MOS, NOV, NTGR, NEU, NUS, NVDA, OXY, OMCL, ASGN, OMI, PKG, PTEN, PYPL, PDLI, PICO, PINC, RL, RHI, RCKY, SHW, SKX, SCS, SUM, TOL, WMT, WU, ITA, IAI, IYC, QTEC, BOTZ, IGE, EIS, EWW, EWD, THD, TUR, QLD, PHO, ROBO, XLP, XLB, UNG. 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 9/29/20. New Research on Knots

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I define a knot as a small congestion area of at least three price bars which has lots of overlap in a strong price trend. Here's what I discovered.

• After a downward breakout from a double top, price will hit a knot and pullback to the bottom of the chart pattern 64% of the time.
• Knots forming at or just below the confirmation price, immediately before a double top begins, means price will drop at least the height of the pattern 70% of the time. These types of knots suggest a strong downtrend will follow.

In this chart, a double top appears at the end of an uphill run, which I show as the rise from A to B.

Along the way, a knot appears (circled in red). The knot is a place along the AB uptrend, priced below the breakout of the double top, where price moves sideways for at least three price bars. This one is a flag but it need not be. Often the knot is irregularly shaped, so it's not a flag nor a pennant, but I didn't qualify the knot as any type of chart pattern.

After the double top forms, it breaks out downward at C. Below C is where you start looking for a knot priced in the AB uptrend. I use C and not the confirmation price (the horizontal blue line) because it's important to see how far down price drops on the day of breakout.

Price drops from C to D, hits the price of the knot and pulls back to the confirmation price. The knot is the first one down along trend AB in the move from C to D. It's the first knot of support that the stock runs into as price drops.

Here's what to look for.

• Ideally, the double top is at a new high (meaning there's no support areas shown by prior price movement. This allows price to reach the knot without interference. However, knots close to the double top might work better than those located farther away or better than prior support areas. Mostly I looked for those knots in the AB trend but did see prior knots causing pullbacks, too.
• A strong uptrend leading to a double top (rise AB in the figure).
• Find the first knot of support along trend AB, located at a price at or below the breakout day (at or below C).
• Price will drop to the knot and pullback, or attempt to pullback, to the base of the chart pattern.
• After reversing at the knot and pulling back, the stock may resume the downtrend.

Want to read more? See the full article here.

$ $ $

Here's a symbol list of 135 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AKAM, ALRM, ALK, ALB, AXP, AMN, APH, ARW, ASH, AGO, AVY, AVA, BMI, BLL, BZH, BIG, BOOT, BLDR, CE, CNC, CHD, CSCO, CLF, CREE, CROX, CCRN, CCK, CMI, DVN, DDS, DFS, EBAY, EIGI, EOG, EPAM, EVH, XOM, FICO, FAST, FDX, FEYE, FLEX, FMC, FORM, IT, GE, GPN, GPRO, GGG, GES, THG, HQY, HP, HOLX, HD, HOV, HURC, ILMN, INOV, IBP, IVC, JBLU, KMT, KFRC, LB, LH, LAMR, LLY, LNC, LOW, MCHX, MLM, MTRN, MDT, MOS, MYL, NOV, NEE, NXGN, NOC, NWPX, PDLI, PFE, PRU, KWR, DGX, RMBS, RGA, ROST, SCHW, SEIC, SKX, LUV, SXI, AMTD, TJX, RIG, TRV, UNM, VMI, WAT, WEX, WSM, XEL, ITA, IHI, IHE, BOTZ, IAT, EWO, EWZ, EWD, EWL, EWU, IBB, PPA, DBA, PHO, ILF, XLV, 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 9/28/20. Market Monday: The Week Ahead

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

My Prediction

I show the Dow utilities on the daily scale.

At first, I didn't see anything in this chart and that's a bummer if I'm expected to write about it. But then I drew the trendlines.

The red support trendline, drawn along the valleys, lines up perfectly (except if you extend it to the left too far). The index rests upon it several times over the last several months.

The line suggests impenetrable support but, of course, that's an illusion. However, I thing the uptrend will last over the coming days and even weeks.

Along the tops, we have another trendline, the blue one.

This one has a problem, being that it has only 2 touches. So it's not as robust as the red line (I actually tested trendline touches, so I know what I'm talking about).

In other words, if price rises to the top trendline, it could very well pierce it. That's not a certainty, either.

What the combination of the two trendlines shows is that price has already bounced off the bottom red trendline and is heading higher. It might be a bumpy ride, but I expect the uptrend to continue. When it reaches the blue line, we'll have to reevaluate.

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 108 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AKAM, ALB, AMED, AXP, ABC, AMGN, ANIK, ANTM, ARW, AGO, ATO, ADP, BCPC, BLL, BIO, BIIB, BOOT, BAH, BRKS, CPB, CF, CLX, COTY, CREE, CCRN, CSGS, CTS, DHR, DFS, EIGI, EPAM, EFX, EQT, FICO, FLEX, FMC, FORM, FRD, IT, GPRO, GFF, GES, HQY, HURC, ILMN, INFN, NSP, ITGR, IBKR, KMT, LB, RAMP, LMT, MANH, MAN, MAS, MRK, MGEE, NFG, NEU, PDLI, PINC, PG, RMBS, RGS, REV, RLI, SEE, SLGN, STMP, SUM, TMO, TJX, UPS, UNM, VMC, WRB, WSM, XEL, ITA, IAI, IYK, FXI, BOTZ, ICF, IHF, EWK, ECH, EWW, TUR, ROBO, MXI, XLI. 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 9/25/20. Pattern Trading Setups for the Weekend.

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Here's a symbol list of 164 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AEIS, AKAM, ALK, ALB, ADS, ALL, AMED, AEP, AXP, AFG, ATR, ARCB, ARW, AVA, BLL, BSET, BIO, BA, BOOT, BAH, BBW, CNP, CF, CSCO, CLNE, CLX, CNA, CMCO, GLW, COTY, CREE, CCRN, DECK, DFS, D, BOOM, EBAY, EMR, EPAM, EFX, EQT, FICO, FLEX, FMC, FORM, FWRD, FDP, FRD, GME, GPS, IT, GILD, GPRO, GGG, GES, HSII, HELE, HOLX, HD, ILMN, INFN, IBKR, IPI, KELYA, KMT, KFRC, KLAC, LZB, LRCX, L, LOW, MTSI, M, MANH, MCHX, MRTN, MAS, MDT, MRK, MOS, MLI, MYGN, NBR, NXGN, NI, NBL, OXY, OGE, ASGN, OMI, PDCO, PDLI, PRU, PEG, RMBS, RGS, RNG, SEE, SCCO, LUV, SCS, SSYS, SNPS, TXT, TKR, TJX, TG, TREX, VEEV, WRB, WSM, XLNX, IYC, IHE, DDM, FXI, BOTZ, IYH, EWK, EWC, EIS, EWM, EPP, EWY, EWT, TUR, IBB, PBE, PEJ, PJP, PHO, SSO, MXI, XLY, XLP, XLV, XLI, XLB, XRT. 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.

There were 16 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 581 stocks searched, or 2.8%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 5 bullish chart patterns this week and 11 bearish ones with any remaining (0) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bearish (down) turn.

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 9/24/20. Intraday Nasdaq: Still Bearish

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

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The chart pattern indicator (not shown) has hit 0 again. That's a signal the bearishness will continue.

This chart shows a picture of the Nasdaq composite on the 5-minute scale.

In faded blue is a head-and-shoulders bottom chart pattern. That was on Monday and the index made a strong move upward.

Now the index is showing a complex head-and-shoulders top. This one has two left shoulders and two right ones, with a single head in between.

It has broken out downward and the index has responded by falling, fast.

Just a guess, but I think the index has fallen far enough, so I'm looking for a bounce on Thursday. The above probabilities say I'm wrong. I guess that the employment picture and a resurgence of Covid-19 also suggest I'm wrong.

$ $ $

Here's a symbol list of 260 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ACN, ADBE, AFL, ATSG, AKAM, ALRM, ALK, ALB, ADS, ALL, AMED, AEE, AXP, AFG, AIG, AMWD, APA, ATR, ACGL, AWI, ARW, ASH, AIZ, AVY, AVA, BMI, BLL, BKNG, BOOT, BAH, EPAY, BRKS, BBW, BLDR, BG, COG, CAL, CLS, CF, CINF, CLNE, CNA, CTSH, CL, CMCO, CAG, COP, GLW, COTY, CREE, CROX, CCRN, CCK, CMI, CW, DHR, DFS, ^DJU, ^DJT, ^DJI, D, DOV, DUK, BOOM, EIX, EMR, EPAM, EFX, EQT, EL, FB, FICO, FIS, FLEX, FLIR, FMC, FORM, FTNT, FWRD, FDP, GME, GPS, IT, GD, GL, GPRO, GES, HLIT, HELE, HSY, HOLX, HD, HOV, ILMN, INFN, INOV, IBKR, JBLU, KMT, KMB, KLAC, LH, LRCX, LEG, LDOS, LEN, L, LOW, MCHX, MAS, MSFT, MUR, MYL, MYGN, NBR, NFG, NTAP, NWL, NEE, NBL, NUS, OXY, OMC, ASGN, OTEX, OMI, PANW, PDCO, PTEN, PAYX, PYPL, PDLI, PRFT, PG, PRU, PHM, RMBS, RGS, REV, RNG, RLI, RHI, RES, ^GSPC, CRM, SAIC, SRE, SO, SCCO, SCS, TXN, TXT, TMO, TJX, TG, UGI, VLO, VEEV, VRSN, V, VC, VMC, WRB, WMT, WAT, WMB, WSM, XEL, XLNX, ZBRA, IYK, IYC, IYE, ITB, IHE, IDU, DDM, FDN, QTEC, BOTZ, SLV, IGE, EWA, EWC, EWM, EWW, EWS, EWL, TUR, EWU, IBB, PPA, PEJ, PXJ, PJP, PHO, ROBO, IXN, ILF, SSO, MXI, XLY, XLP, GLD, XHB, XLI, XLB, XRT, SPY, XAR, XLK, XLU, SMH, 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 Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Wednesday 9/23/20. 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 last active signal was bearish, as the vertical red line shows.

The indicator is in the neutral zone right now (neither bullish nor bearish). However the index is still trending lower as the chart shows.

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 followed the index lower, measured from a week ago to today.

The red line made a dramatic drop this week, too.

Both charts this week are bearish, suggesting more of a downward move coming. That makes sense because a second Covid-19 wave is striking countries and it's only a matter of a month or so before we see up-ticks happening here. We're already seeing that, but it'll get worse as it gets colder.

Of course, we might get a snap-back rally which would change the outlook. The CPI suggests that because it's in the neutral zone (meaning it has recovered from its lows).

$ $ $

Here's a symbol list of 197 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADTN, AJRD, AKAM, ALK, ALB, AA, ADS, AYX, AEL, AXP, APOG, AMAT, ARCB, ARW, AVA, BLL, BAX, BBBY, BOOT, BAH, BRC, CBT, CDNS, CE, CNC, CENX, CF, CRL, CTXS, CNO, CAG, COP, CLR, CLGX, CREE, CCRN, CCK, DECK, XRAY, DFS, D, ETFC, EXP, EMN, EBAY, WIRE, EIGI, EOG, EPAM, EQT, EL, FICO, FOE, FIVN, FLEX, FLIR, FMC, FORM, FCX, FDP, GME, GE, GIS, GPN, GPRO, GES, HSC, HAYN, HQY, HL, HSII, HP, HSIC, DHI, HUBG, IDXX, ILMN, INOV, IBP, ITGR, TILE, IPG, INTU, NVTA, KALU, KBH, KMT, KFRC, KSS, LHX, LRCX, LEN, LNC, LOW, LXU, MHO, M, MANH, MRO, MCHX, MTRN, MDC, MDT, MS, MYGN, NFLX, NXGN, NBL, JWN, OXY, ASGN, OUT, OMI, OXM, PKG, PYPL, PDLI, POR, PFG, PRU, PHM, RMBS, RJF, REV, SLB, NOW, SLGN, SXI, TGT, TPX, TXT, TJX, TOL, SLCA, UPS, UNM, VRTX, WU, WLK, WSM, IYM, IAI, ITB, IEZ, FDN, BOTZ, IYH, IHF, IAT, IGV, SLV, IGE, ECH, EWQ, EWG, EWS, EWD, TUR, PXJ, PJP, IEV, MXI, XLF, GLD, XLV, XHB, USO, 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 1/22/20. Slider Quiz! Triple Bottoms

$ $ $

I show a another slider quiz featuring the triple bottom chart pattern.

$ $ $

Here's a symbol list of 318 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYI, APD, ATSG, ALK, AA, ADS, AEE, AEO, AEL, AXP, AIG, AMWD, ANTM, AON, APA, ATR, ARCB, ACGL, ASH, ADP, AVY, BLL, BECN, BBBY, BERY, BA, BKNG, BOOT, BRC, BBW, BLDR, COG, CX, CENX, CF, CRL, CHKP, CVX, CSCO, CNA, CL, CMCO, GLW, CR, CREE, CRH, CCK, DECK, XRAY, ^DJI, D, DRQ, DUK, ETFC, EMR, WIRE, EOG, EPAM, EL, EVH, EXC, EZPW, FFIV, FB, FDX, FOE, FIS, FIVN, FLS, FWRD, FDP, FRD, GPS, IT, GD, GL, HBI, THG, HIG, HE, HQY, HSII, HELE, HSIC, DHI, HUBG, ILMN, INFN, NSP, ITGR, TILE, IPG, ISRG, NVTA, JCOM, JNJ, KBH, KELYA, LZB, LEN, LNC, RAMP, L, LOW, LXU, MHO, M, MANH, MAN, MAS, MA, MDC, MLHR, MS, MOS, MLI, MUR, MYL, MYGN, NBR, NFG, NOV, CNR, NTGR, NTAP, NEU, NXGN, NKE, NBL, JWN, OMC, ASGN, OUT, OMI, OXM, PATK, PDLI, PFE, PLXS, PPG, PPL, PFG, PRU, PEG, PHM, RL, RMBS, RJF, REV, RLI, ROK, ROG, RES, ^GSPC, SAIA, SEE, SEIC, SIGI, SRE, SMTC, SHW, SLGN, SKX, SCCO, LUV, SUM, TFX, TPX, TXT, TKR, TJX, TOL, RIG, TRV, TZOO, TG, SLCA, UGI, UNM, VFC, V, VC, WRB, WAT, WERN, WU, WEX, WSM, WWW, IAI, IYC, IYE, ITB, IHI, IEO, IEZ, IDU, DDM, FXI, ICF, IYH, IHF, IAT, IYZ, SLV, IGE, IYF, EWA, EWO, EWZ, EWC, ECH, EWQ, EWG, EWH, EIS, EWI, EWM, EWW, EPP, EZA, EWP, THD, TUR, EWU, DBA, PEJ, PXJ, PJP, PHO, ROBO, IEV, IXC, ILF, SSO, XLY, XLP, XLE, XLF, GLD, XLV, XHB, XRT, SPY, XLU, 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 9/21/20. Market Monday: The Week Ahead

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

My Prediction

This is a chart of the S&P 500 index on the daily scale.

At AB, the index made a double bottom. It confirmed when the index closed above the highest peak between the two bottoms.

Although I don't show it on the chart, the confirmation let to a whopper of a move up, easily fulfilling the measure rule (the height of the double bottom added to the breakout price to get a price target).

I think the index is going to recover but I could be wrong. In view of my belief, I used a price mirror to show what I think will happen.

That appears at C.

You can see that I reflected the last month or so across the green line.

In the short term, I expect weakness in the indices. It might drop more, but I think it'll move sideways and then start to perk up.

Despite the way I've drawn this, I don't expect the index to reach the height of the September peak. More likely, it'll fall short of that peak.

Of course, with the death of RGB (Ginsburg), there's no telling what kind of fireworks are going to happen.

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 184 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AYI, AMED, ABC, AAPL, ATR, ASH, AIZ, AGO, ADSK, BBBY, BERY, BIG, BKH, BKNG, BOOT, EPAY, BG, CACI, CLS, CNC, CENX, CRL, CHS, CGNX, CL, CAG, CSOD, COST, CREE, CRH, CCK, CTS, DECK, XRAY, DTE, ETFC, EXP, EBAY, RE, EVH, EZPW, FB, FISV, FIVN, FMC, FWRD, GIS, GNW, GOOGL, HE, HQY, HTLD, HSIC, HSY, HNI, HD, DHI, HUBG, HURC, IDA, ILMN, INFN, INOV, NSP, IBKR, TILE, IPI, INTU, IVC, NVTA, JKHY, KBH, LZB, LEN, RAMP, LOW, MHO, MANH, MCHX, MDC, MGEE, MCO, MLI, MYL, MYGN, ^IXIC, NFG, NTGR, NTAP, NEU, NXGN, JWN, OXY, ORI, OMC, ASGN, OMI, PKG, PYPL, PRFT, PINC, PEG, PHM, KWR, QCOM, RMBS, RJF, REV, RLI, RCKY, ROG, RES, ^GSPC, SAIA, CRM, SAIC, SMG, SEIC, SMTC, SCCO, SR, SSYS, SUM, SNPS, TDOC, TPX, TKR, TOL, RIG, TREX, V, WERN, WU, WMB, WSM, XEL, IYM, IAI, IYC, ITB, IHI, IEZ, IDU, DDM, FTEC, IYZ, IGE, IYF, EWA, ECH, EPP, EZA, QLD, PEJ, QQQ, PHO, IXN, SSO, MXI, XLY, XLP, XHB, XLB, XLK, 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 9/18/20. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 180 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ADBE, AJRD, ALRM, ALB, AA, ALKS, AMZN, AMED, APOG, ATR, ADSK, AVY, BZH, BERY, BIG, CDNS, CF, CRL, CHKP, CVX, CIEN, CSCO, CTXS, CLF, CRH, CSGS, DECK, EBAY, RE, EVH, EZPW, FB, FICO, FIVN, FMC, FORM, FTNT, IT, GE, GIS, GOOGL, HSIC, HSY, HOLX, HD, DHI, ITW, IBKR, INTU, NVTA, KBH, K, KBAL, LRCX, LAMR, LEG, LEN, LLY, LOW, MHO, MANH, MAS, MDC, MSFT, MLHR, MLI, MYL, MYGN, ^IXIC, NFG, NTAP, NEU, NXGN, NUS, OMI, PANW, PYPL, PRFT, PHM, RJF, REV, RLI, ROG, RES, ^GSPC, SEE, SIGI, SMTC, NOW, SLGN, SXI, SCS, SSYS, TGT, TECH, TPX, TDC, TOL, TSCO, UPS, VMI, VC, WLK, WEX, WSM, WDAY, IYM, ITB, FTEC, FDN, QTEC, FXI, BOTZ, IGV, SOXX, EWA, EWK, EWZ, ECH, EWH, EIS, EWM, EPP, EZA, EWP, EWD, QLD, QQQ, ROBO, IXN, ILF, SSO, XLY, XLP, XHB, XLB, XLK, UNG, SMH, 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.

$ $ $

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.

There were 12 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 581 stocks searched, or 2.1%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

I found 12 pipe bottom chart patterns, which is neutral. High numbers of pipe bottoms can signal a bullish move (I see many of them just before a bear market ends or during a bear market rally. Often it means the first bottom of a double bottom has formed. Thus, expect a move down to the second bottom).

Excluding ETFs, there were 20 bullish chart patterns this week and 0 bearish ones with any remaining (4) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bullish (up) turn.

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 9/17/20. 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.

The last two days have formed a chart pattern. What's its name? Do you know?

The pattern's name is a mouthful: broadening formation, right-angled and descending. I show it in red on the chart.

The chart pattern indicator has turned bullish today but the signal can disappear for up to a week. I mention that because the index is resting on the bottom portion of the chart pattern.

It might have pierced the bottom line, but it's hard to tell in this chart. Anyway, these patterns breakout upward 64% of the time. So my guess is the index will bounce off the line and rise tomorrow, heading for the top trendline.

The above stats disagree with that assessment. And it's possible that news of people unemployed might send a shockwave through the markets at the open tomorrow, so anything goes these days.

$ $ $

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: AYI, ADBE, AMD, AMZN, AMED, AEL, AIG, AMWD, AMGN, ARW, ADSK, AVY, BZH, BERY, BIG, BKH, BA, CBT, COG, CDNS, CAL, CNP, CENX, CRL, CSCO, CTXS, ED, CRH, CROX, CCRN, DECK, ^DJT, EXP, EIX, EVH, EXPD, EZPW, FICO, FAST, FDX, FE, FIVN, FMC, GME, IT, GE, GIS, GOOGL, HLIT, HTLD, HD, DHI, HUBG, JBHT, IDXX, ILMN, INOV, IBKR, INTU, NVTA, KBH, KELYA, LEN, LOW, MHO, MANH, MCHX, MRTN, MAS, MDC, MDCA, MSFT, MYGN, CNR, NFLX, NEU, OGE, ORI, OMC, OTEX, OMI, PANW, PAYX, PRFT, POL, PHM, KWR, QCOM, ROK, RCKY, ROG, SAIA, CRM, SMG, SEE, SEIC, SIGI, NOW, SO, SCS, SNPS, TPR, TGT, TPX, TDC, TXN, TOL, TSCO, UPS, VRSN, VC, WLK, WSM, ZBRA, ITA, ITB, QTEC, IGV, SOXX, EWK, ECH, EIS, EWJ, EWM, EZA, EWU, QLD, PEJ, QQQ, PHO, ROBO, XLY, XHB, 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 9/16/20. 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 bearish signal which has been in place for a month, it still active. It's the latest signal from the indicator. If the market listens to the indicator, then it's bearish.

The thin blue line at the bottom of the chart, which is the CPI, has turned down again. That suggests more weakness to come.

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).

A snapshot taken a week ago compared to today shows the two indicators have improved. Not by a lot, mind you, but some.

The two lines have bounced off a low and that's bullish.

Incidentally, the red lines show bearish divergence which is now convergent. I made a brief mention of divergence a week ago.

So the prior chart is bearish and this one is bullish. I put more weight on the prior chart than this one. All these two indicators show is that they move in step with the index. And that's no help at all. So the CPI chart remains bearish, but I raised my price targets for the indices. Go figure. My reasoning: Price will trend until it ends. And it hasn't ended yet.

$ $ $

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: DDD, MMM, ABT, AJRD, AES, AFL, ADS, AEL, AFG, AXS, BLL, BAX, BZH, BERY, BIG, CPB, CX, CENX, CF, CRL, CIEN, CNA, CNO, CL, CAG, CRH, CROX, CCRN, CTS, CW, DECK, DTE, EXP, WIRE, RE, EZPW, FICO, FEYE, FE, FIVN, FLS, FMC, FRD, GME, GPS, GFF, HBI, THG, HQY, HTLD, HP, HD, DHI, HOV, ILMN, IBKR, NVTA, JCOM, JAZZ, KBH, KELYA, LANC, LEN, LNC, LMT, L, LOW, MHO, M, MANH, MAS, MDC, MGEE, MS, MLI, MUR, MYGN, NFG, NJR, NWL, NI, OGE, ORI, OMI, PATK, PDLI, PICO, POR, PINC, PG, PGR, PRU, PHM, RNG, RCKY, SRE, SLGN, SWX, SWN, STMP, TPR, TECH, TPX, TOL, TRV, UNM, VFC, VLO, VMC, WMT, WERN, WSM, XEL, IYM, IAI, IYK, IYE, ITB, IHE, FXI, BOTZ, IAT, EWA, EEM, EWH, EWM, EPP, EZA, EWY, EWT, IBB, PBE, PHO, ROBO, MXI, XLE, XLF, GLD, XHB, XLB, 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.

-- Thomas Bulkowski

Tuesday 9/15/20. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring EMC stock. (An actual trade).

$ $ $

Here's a symbol list of 101 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ADBE, AKAM, AEO, AXP, AMGN, ARW, AGO, AVY, BLL, BECN, BBBY, CALM, CLGX, COTY, CROX, CCRN, XRAY, DFS, DUK, EBAY, EIGI, EPAM, EVH, EXPD, EZPW, FB, FE, GME, IT, GNW, GES, HAYN, HTLD, HSIC, HSY, HUBG, IPI, INTU, NVTA, KALU, MANH, MA, MDCA, MU, MSFT, NBR, NOV, NFLX, NWL, OXY, OTEX, PANW, PDCO, PTEN, PCG, PICO, PPG, PINC, RL, ROG, RES, NOW, SLGN, SWN, SSYS, TECH, TPX, TDC, RIG, UGI, VEEV, V, WERN, WDAY, IYM, IEZ, BOTZ, ICF, IGV, EWJ, EWM, EWW, EWY, EWT, PJP, PHO, ROBO, MXI, XRT. 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 9/14/20. Market Monday: The Week Ahead

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

My Prediction

This is a chart of the Nasdaq on the daily scale.

The top red line, A, I drew from the current day's low to the left. Notice how price rests on it in August and acts as a ceiling of resistance before that (in July). In other words, the line acts as both support and resistance.

The chart pattern indicator (CPI) remains bearish with a reading of something like 36 where 65 is bullish. It suggests the index is going lower.

How much lower?

I drew additional lines of support beneath recent lows. One of these will likely be a turning point.

I show my guess in green. The index will drop to line B and then turn upward. B is a support line, as I mentioned but it also converges with the end of a measured move down chart pattern.

After a measured move down ends, price often bounces up to the corrective phase. I circled that in blue on the chart. And that's why the green line stops there. It's my price target.

Of course, anything can happen to shape the price landscape, especially on a weekend with the election approaching. The index might make a big swing down or up.

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 over.

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, ADBE, ATSG, AKAM, ALRM, AEE, AEL, ABC, AMGN, AMN, APOG, AVA, BECN, BRC, BRKS, CENX, CHS, CNA, CAG, CSOD, CR, CRH, CROX, CCRN, CSGS, DDS, DRQ, EFX, EQT, RE, EVH, EZPW, FB, FFG, FISV, FIVN, GME, GPS, GE, GNW, GL, THG, HLIT, HSC, HIG, HAYN, HQY, HNI, HOLX, INTU, K, KMT, KSS, LDOS, L, MANH, MAN, MA, MDCA, MSFT, MLI, NBR, NOV, NFLX, NWL, NUS, ORI, OTEX, OMI, PDCO, PTEN, PDLI, PFE, PCG, POL, PINC, PFG, PGR, RGA, REV, ROG, SIGI, NOW, SLGN, SKX, SO, SCCO, SWN, SSYS, SUM, TPR, RIG, UGI, VEEV, V, WEX, WMB, WDAY, ITA, IEZ, IDU, FXI, IHF, IGV, EEM, EWH, EWJ, EWM, EPP, THD, PJP, GLD, UNG. 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 9/11/20. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 275 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ABT, ACN, AYI, ADBE, AMD, AJRD, ATSG, AKAM, ALB, AMZN, AMED, AEE, AEO, AIG, ABC, AMGN, AMN, APH, APOG, AAPL, ACGL, ASH, AVA, BCPC, BLL, BAH, BRC, BRKS, BG, CDNS, CX, CHKP, CVX, CNA, CAG, CSOD, GLW, CR, CREE, CRH, CROX, CCRN, CCK, CW, DECK, XRAY, ^DJI, DRQ, ETFC, EMR, EQT, EL, RE, EVH, EXC, FB, FDS, FFG, FDX, FIS, FLS, FCX, GME, GPS, IT, GE, GILD, GPN, GL, THG, HLIT, HSC, HIG, HAYN, HQY, HSII, HSIC, HNI, HON, HUBG, JBHT, ITW, INFN, INOV, ITGR, INTC, IPAR, IBKR, INTU, IVC, K, KMT, KBAL, LHX, LAMR, LLY, RAMP, LMT, L, LXU, MTSI, MANH, MAN, MA, MTRN, MDCA, MDT, MGEE, MSFT, MS, MLI, NBR, ^IXIC, NFG, NOV, NFLX, NTAP, NWL, NEU, NBL, NVDA, OLN, OMCL, OTEX, PDCO, PTEN, PYPL, PFE, PCG, PLXS, POL, POR, PPG, PPL, PINC, PFG, QCOM, DGX, RGA, REV, RLI, RHI, ROK, ROG, ^GSPC, SLB, SCHW, SEIC, SMTC, NOW, SLGN, SKX, SWN, TPR, AMTD, TFX, TSCO, RIG, TREX, UGI, UPS, VLO, VEEV, V, WRB, WAT, WMB, WSM, WDAY, XLNX, IYM, IAI, IYC, IHE, IDU, DDM, FTEC, FDN, QTEC, BOTZ, ICF, IYH, IGV, SOXX, SLV, IGE, IYF, EWO, EWC, EEM, EWQ, EWG, EWI, EWJ, EWM, EWW, EWP, EWL, EWT, QLD, IBB, PBE, PEJ, PXJ, PJP, QQQ, PHO, ROBO, IEV, IXC, IXN, ILF, SSO, MXI, XLY, XLP, XLF, GLD, XLV, XLI, XRT, SPY, XAR, XLK, SMH, VHT, 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.

$ $ $

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.

There were 9 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 581 stocks searched, or 1.5%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 1 bullish chart patterns this week and 6 bearish ones with any remaining (1) being undecided. The ratio of bullish to bearish patterns suggests the market is bearish.

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 9/10/20. 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 saw the triple bottom first when I looked at the chart. It's hard to see, but it's the three Ts at the bottom right of the chart, below the red line.

The chart pattern confirmed when price pierced (and closed above) the blue line at A. This is an unusual confirmation signal. Normally, you wait for a close above the top of the chart pattern. I show that with the orange line, at B. Using that line as confirmation would mean an unusual wait for entry and a loss of potential profit. The height of the pattern is why I chose to use the blue line as the trigger this time. You can think of the line as a neckline (used in head-and-shoulders patterns).

So far, it's worked well. I don't know if we'll get to the orange line at B before we drop below the bottom of the triple bottom, but my guess is yes, we will. I think we've hit a short-term bottom and will recover.

$ $ $

Here's a symbol list of 134 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, ADBE, ADTN, AEIS, AJRD, AKAM, AEO, AEL, AIG, AMGN, AON, APOG, AMAT, ARCB, AWI, ARW, BECN, BBBY, BIO, BRKS, BBW, COG, CVX, CHS, CHD, CL, CMTL, COP, CLR, CR, CCRN, CSGS, DVN, DRQ, EIGI, EPAM, RE, EVH, EXPD, FB, FAST, FFG, FIS, FISV, FLS, FDP, GME, GE, GPN, HLIT, HAYN, HELE, HNI, IPAR, IBKR, TILE, INTU, ISRG, KALU, KELYA, KMT, KBAL, KMB, KLAC, LRCX, LNC, L, LXU, MANH, MRO, MAS, MA, MTRN, MDCA, MSFT, NBR, NFLX, NTGR, NEU, NOC, NUS, OXY, OLN, OTEX, OUT, PKE, PATK, PDCO, PTEN, PPL, PGR, QCOM, REV, ROG, ^GSPC, NOW, SKX, SXI, SCS, TKR, TSCO, SLCA, UGI, VLO, VMI, VEEV, V, WEX, WSM, WDAY, IYK, IYE, IEO, DDM, IHF, IGV, IYF, XLE, XLF, 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.

$ $ $

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 9/9/20. 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 indicator says the index is going down, meaning it's still bearish. It attempted to turn bullish about two weeks ago, but failed. Now it's September, the worst performing month of the year.

Of course, I already discussed bearish divergence but that was 3 weeks ago. Seems like a lifetime.

Last week I wrote this: "The two charts are bearish. The prior chart is showing signs of turning bullish again. This one is bearish with that divergence I talked about. Something has to give. My guess is we're going to see the tech stocks get clipped. Maybe not soon but when it happens, there's going to be a rush for the exits and the Nasdaq is going to get hammered. And probably for more than a day."

It surprises me when I'm right...(maybe because I'm frequently wrong).

I'm concerned that the decline might be over (meaning I'm hoping it'll drop more). Circled in blue is a knot of support. Those knots usually turn price upward and are a reliable signal.

This time, though, it looks as if the index is going to drop to the red circle and turn upward there. That's my guess. However, the other indices suggest an upward turn tomorrow (Wednesday) because they are sitting right in a knot of support.

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).

The two lines continue to show weakness.

The two charts together continue to point to the indices dropping but I just think there's a lot of support waiting for the indices to bottom before they pile in and push things back up.

That's my plan, anyway.

$ $ $

Here's a symbol list of 157 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, ACIW, ADTN, AEIS, AJRD, AFL, ATSG, AKAM, ALK, AEE, AEL, APOG, AMAT, AWI, ASH, ATO, AVA, BMI, BAX, BBBY, BRC, BRKS, CF, CVX, CHS, CNA, CGNX, CMCO, CAG, COP, CLR, CR, CCRN, CSGS, DVN, D, DRQ, EIX, EMR, WIRE, EOG, EQT, RE, EXC, FAST, FISV, FLEX, FLS, FDP, GE, GIS, GPN, GL, THG, HSC, HIG, HE, HTLD, HNI, HURC, INOV, IPAR, IPI, KALU, KMT, KLAC, LRCX, LAWS, L, LXU, MAN, MRO, MTRN, MDCA, MGEE, MLHR, MLI, MYL, NBR, NOV, NWL, NEU, NBL, OXY, OUT, PTEN, PCG, PPL, PG, RL, RHI, ROG, SEE, SEIC, SLGN, SCCO, SWN, TPR, TECH, RIG, SLCA, UGI, VLO, VMI, VRSN, ZBRA, IYE, IEO, IGE, EWO, EWK, EWP, THD, PXJ, PJP, PHO, IXC, XLE, XLV, XAR, 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.

-- Thomas Bulkowski

Tuesday 9/8/20. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Energy East (an actual trade).

$ $ $

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 9/7/20. Site Support

If you wish to support the website, then try one of these options.

1. Perhaps the best way is come to this site and click on an image of one of my books. You'll find the images at the bottom of the page. The click will take you to Amazon.com. The link passes a code to them and I receive a small referral fee but only if you buy something while there. You do NOT need to buy the book. It's just a vehicle to get you to Amazon with the referral code.

   So each time you want to use Amazon.com to buy something, come to this site first. The referral is free, it's easy, and it supports this site.

   Unfortunately, I think this approach only works for those in the United States.

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Here's a symbol list of 150 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACIW, ADTN, AJRD, ATSG, ALKS, AYX, DOX, AFG, AMAT, ATR, AWI, ATO, BMI, BECN, BIIB, BRKS, BBW, CPB, CENX, CF, CHS, CIEN, CSCO, CTXS, CLNE, CL, CMCO, CAG, GLW, COST, CRH, DFS, D, BOOM, EIX, WIRE, EOG, EQT, EL, EXPD, FAST, FFG, FIVN, GL, GPRO, EVRG, HQY, HNI, HOV, IEX, ITW, ILMN, INFN, IIIN, INTC, IPAR, IBKR, IVC, JCOM, JAZZ, JNJ, KALU, KELYA, KMT, KSS, LZB, LAWS, LEG, LDOS, MTSI, M, MRO, MTRN, MDT, MGEE, MU, CNR, NKE, NBL, JWN, NVDA, OXY, OLN, ASGN, PANW, PAYX, PINC, PFG, PGR, PRU, REV, RNG, RLI, RES, SIGI, SWN, STMP, SXI, SCS, SSYS, AMTD, TECH, TXT, RIG, UNM, VLO, VRSN, IAI, IYE, IYH, EWO, EWZ, EIS, EWW, EWS, EWP, IBB, DBA, PBE, PJP, PHO, IXC, IXN, XLP, XLE, XLV. 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

Friday 9/4/20. Pattern Trading Setups for the Weekend.

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Here's a symbol list of 243 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, ADTN, AMD, AES, ATSG, AYX, DOX, AEE, AEL, AFG, AMGN, APA, AAPL, AMAT, ATR, AWI, ASH, AIZ, AGO, ADSK, AVA, BMI, BCPC, BECN, BIIB, BA, EPAY, BMY, BRKS, BBW, CBT, CE, CNC, CENX, CF, CHS, CIEN, CSCO, CNA, CNO, CGNX, CL, ED, CAG, COP, COST, CR, CRH, CSGS, CTS, CW, DECK, XRAY, DDS, DFS, ^DJT, DTE, EMR, WIRE, EIGI, EOG, EL, RE, EXPD, FAST, FFG, FDX, FOE, FE, FIVN, FLS, GL, GPRO, EVRG, GFF, HBI, HSC, HQY, HSII, HNI, HD, HON, HOV, HUBG, JBHT, HURC, IEX, IDXX, ITW, ILMN, INCY, INFN, IIIN, INTC, INTU, IVC, JCOM, JAZZ, JBLU, JNJ, KALU, KELYA, KSS, KLIC, LZB, LH, LRCX, LAWS, LEG, LDOS, MTSI, M, MRO, MTRN, MTRX, MDT, MU, MLHR, MCO, MYL, CNR, NTGR, NJR, NWL, NKE, NBL, JWN, OLN, OMC, ASGN, OTEX, PANW, PKE, PAYX, PDLI, PRFT, PFE, PICO, PINC, PFG, PG, PGR, KWR, DGX, RL, RGS, REV, RLI, RHI, ROG, SCHW, SEIC, SIGI, SCCO, SWX, STMP, SXI, SSYS, SUM, SRDX, AMTD, TXT, TG, UNM, VLO, VRSN, VRTX, V, WRB, WAT, WSO, WWW, XLNX, ZBRA, IAI, IHI, IHE, QTEC, BOTZ, IYH, IYF, EWO, EWK, EWZ, EWQ, EIS, EWW, EZA, EWP, EWD, EWL, THD, TUR, IBB, PPA, PBE, PEJ, PXJ, PHO, ROBO, IXC, ILF, MXI, XLP, XLF, GLD, XLV, XHB, XLI, USO, 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.

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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.

There were 22 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 581 stocks searched, or 3.8%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

I found 5 pipe bottom chart patterns, which is neutral. High numbers of pipe bottoms can signal a bullish move (I see many of them just before a bear market ends or during a bear market rally. Often it means the first bottom of a double bottom has formed. Thus, expect a move down to the second bottom).

Excluding ETFs, there were 17 bullish chart patterns this week and 6 bearish ones with any remaining (4) being undecided. The ratio of bullish to bearish patterns suggests the market is hinting of a coming bullish (up) turn.

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 9/3/20. Nasdaq Trending Up

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

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

The first thing that struck me when I looked at the pic of the Nasdaq on the 10-day chart is how it has climbed steadily.

I measured the slope of trendlines and found that they perform best when they are in the 30 degree range, but 45 is fine, too. The more shallow they are, the better they seem to work.

The Nasdaq is at the perfect angle. I drew two parallel lines to form a channel. What it shows is obvious, that the index is rising.

Will it continue? Let's find out by waiting...

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Here's a symbol list of 164 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACN, ACIW, AMD, AYX, ABC, APA, AAPL, ATR, ARW, ASH, AIZ, AXS, BMI, BLL, BIO, BIIB, BOOT, BRC, BBW, CACI, CAL, CENX, CF, CHS, CLF, ED, CLR, GLW, DVN, DFS, ^DJI, DOV, DTE, ETFC, EIGI, EOG, EQT, XOM, FEYE, FE, FIVN, FMC, FCX, FRD, GILD, GOOGL, GPRO, EVRG, GES, HSC, HIG, HL, HSII, HSIC, HSY, HNI, HOV, IIIN, INTC, TILE, JCOM, KBH, KMT, KSS, LZB, LANC, LAWS, LLY, LOW, LXU, MHO, M, MRO, MTRX, MU, MLHR, MCO, MS, MLI, MYL, NOV, CNR, JWN, NUS, OLN, OMCL, ASGN, OXM, PANW, PTEN, PYPL, PCG, POL, PG, PEG, PHM, RL, RMBS, REV, ROK, ROG, ^GSPC, SEIC, SIGI, SMTC, SHW, SCCO, SWN, SXI, SCS, SSYS, TPX, TXN, RIG, TG, VMI, VEEV, VRSN, WLK, WDAY, XLNX, IYM, IYC, IHE, DDM, QTEC, BOTZ, IYZ, SOXX, EWA, EWZ, ECH, EWQ, EIS, EWJ, EWL, PBE, PXJ, PHO, ROBO, IEV, SSO, MXI, XLY, XLP, XHB, XLB, XRT, SPY, 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.

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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

Wednesday 9/2/20. Indicators: Bearish, but Who's Listening?

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 tried to turn bullish but failed to today (Tuesday). As the chart shows, it's still bearish (neutral, really). The vertical red bar on the far right of the chart confirms this.

It suggests the market is going to dive, but the tech stocks are ignoring the warning and soaring out of sight. There's a crash in them coming, I think, but I haven't specially checked on them. So that's a guess, but the Nasdaq index seems to be in overdrive (Note: I'm talking about the Nasdaq, not the S&P, which the chart shows).

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).

The red indicator line shows bearish divergence and it's quite pronounced. It's heading lower even as the index continues to rise. I mentioned this before (last week) but bearish divergence can last for months before something significant happens.

The above numbers says that nothing has changed from last week.

The two charts are bearish. The prior chart is showing signs of turning bullish again. This one is bearish with that divergence I talked about. Something has to give. My guess is we're going to see the tech stocks get clipped. Maybe not soon but when it happens, there's going to be a rush for the exits and the Nasdaq is going to get hammered. And probably for more than a day.

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Here's a symbol list of 188 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AMD, AJRD, AFL, APD, ATSG, ALRM, AYX, ABC, AMAT, ATR, ARCB, ADM, AWI, ASH, ATO, AXS, BMI, BLL, BSET, BKNG, BRC, BBW, CBT, CAL, CPB, CE, CENX, CF, CRL, CVX, CHS, CNO, CMCO, ED, CAG, CR, CCRN, CTS, DFS, EMN, EBAY, WIRE, EOG, XOM, EZPW, FICO, FIVN, FTNT, FWRD, GME, GPS, GE, GPRO, EVRG, GES, HL, HUBG, HURC, IEX, IBP, IBKR, TILE, INTU, JCOM, JNJ, KALU, KSS, LAWS, LEG, LLY, M, MAN, MRO, MCHX, MTRN, MU, MSFT, MCO, MLI, MYL, CNR, NKE, NI, NBL, JWN, NWPX, OXY, OLN, ASGN, OXM, PKG, PANW, PDCO, PYPL, POL, PPG, PFG, PEG, DGX, REV, RLI, RHI, ROG, ROST, RES, SIGI, SWN, SR, SXI, SCS, SSYS, TDOC, TDC, TKR, TJX, TSCO, SLCA, VLO, VEEV, WMT, WEX, WWW, XLNX, IYM, IYC, IYE, IHE, IDU, DDM, FDN, QTEC, IGV, EWZ, ECH, EZA, TUR, EWU, PBE, PXJ, PJP, XLE, XLI, XLB, XLU. 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 9/1/20. 2020 Market Forecast September Update

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Here's the updated 2020 forecast for September, presented in slider format.

Based on sector performance from Fidelity, the best performing sectors for year to date performance as of 31 August 2020 were... (The numbering is how they ranked a month ago.)

Here's how they rank the industries, but only the top 10 appear. Year to date returns. The numbering is how they ranked a month ago.

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Here's a symbol list of 163 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, ACN, AJRD, AES, AFL, ALRM, AA, ADS, AMED, AEL, AXP, AMWD, ANIK, ARCB, AWI, ARW, ASH, AVY, AXS, BLL, BECN, BIG, BBW, CBT, CALM, CE, CNC, CVX, CHD, CLNE, CLX, CLR, COTY, CRH, CCK, CTS, DFS, ^DJI, EMN, EIGI, EQT, FIS, FLS, FWRD, FCX, GME, IT, GE, GNW, GPN, GPRO, HAYN, HSII, HP, HON, HOV, HUBG, JBHT, HURC, IDA, IDXX, IPAR, IPI, JKHY, JNJ, KELYA, MTSI, MANH, MRO, MAS, MA, MTRN, MS, MOS, MUR, CNR, NJR, NUS, OXY, ORI, OTEX, PKG, PDCO, PTEN, PCG, PPL, PINC, PFG, RGS, REV, RHI, ROG, RES, CRM, SIGI, NOW, SHW, SKX, TECH, TDC, TER, TEVA, TMO, SLCA, UNM, VLO, VRSN, VC, WU, WLK, WEX, WMB, ZBRA, IYM, IYC, DDM, IYH, IAT, SLV, IGE, IYF, EWK, EWZ, EWC, ECH, EWG, EWM, EWY, EWL, EWT, TUR, IBB, PBE, PEJ, PHO, MXI, XLE, XLF, XLV, 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