As of 11/22/2024   Indus: 44,297 +426.16 +1.0%     Trans: 17,367 +194.86 +1.1%     Utils: 1,067 -8.74 -0.8%     Nasdaq: 19,004 +31.23 +0.2%     S&P 500: 5,969 +20.63 +0.3%	YTD  +17.5%    +9.2%    +21.0%    +26.6%    +25.1%	Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,200 or 1,000 by 12/01/2024   20,000 or 18,400 by 12/01/2024   6,100 or 5,800 by 12/01/2024
Chart Pattern Indicator: on 11/20/24

As of 11/22/2024   Indus: 44,297 +426.16 +1.0%     Trans: 17,367 +194.86 +1.1%     Utils: 1,067 -8.74 -0.8%     Nasdaq: 19,004 +31.23 +0.2%     S&P 500: 5,969 +20.63 +0.3%	YTD  +17.5%    +9.2%    +21.0%    +26.6%    +25.1%
Targets    Overview: 11/12/2024     46,000 or 43,000 by 12/01/2024   18,000 or 16,600 by 12/01/2024   1,200 or 1,000 by 12/01/2024   20,000 or 18,400 by 12/01/2024   6,100 or 5,800 by 12/01/2024
Chart Pattern Indicator: on 11/20/24

Thursday 9/30/21. Cryptocurrency Ethereum (ETH-USD)

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

$ $ $

I show a picture of Ethereum on the daily scale.

I last looked at the cryptocurrency on August 18. At that time I called the three valleys (123) a double bottom and that's accurate. Valleys 1 and 2 don't have 5 price bars between them, so I consider them one bottom. Thus, this pattern isn't a triple bottom (123) but a double bottom (13). It confirms as a valid chart pattern when the coin closes above red line 6.

Peaks 4 and 5 look like an ugly double top. I haven't studied those yet, but an ugly pattern is one where the two peaks are not near one another, as in this case. It confirms as a valid pattern when price closes below line 7.

The thinking here is that there's more of a down move to go. The height from 4 to 7 subtracted from 7 gives a target. So I would expect the coin to continue to drop.

$ $ $

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: AXDX, ACN, ADBE, ADTN, AJRD, ALKS, AEO, ANTM, ARW, AVNT, BLL, BSET, BBBY, BA, BRC, BLDR, CENX, CHKP, CHD, CSCO, CMCO, COTY, CRH, DECK, DVN, DDS, DOV, DRQ, BOOM, EBAY, EIX, EPAM, EQT, EL, RE, EXPD, FICO, FLS, FORM, GIS, GS, GOOGL, GES, HBI, HIG, HQY, HOV, HURC, ILMN, IPAR, TILE, NVTA, KELYA, KMB, KLAC, LAWS, LLY, LXU, M, MRTN, MLM, MTRX, MDT, MSFT, MUR, ^IXIC, NOV, NEU, OMC, PANW, PYPL, PINC, PGR, RL, RMBS, ^GSPC, SAIA, CRM, SLB, SAIC, SMG, NOW, LUV, SSYS, SUM, SNPS, TECH, TER, TXT, TKR, TJX, RIG, TZOO, TG, UPS, VRSN, VMC, WRB, WWW, WDAY, ZBRA, IEZ, IHE, DDM, FTEC, FDN, QTEC, FXL, BOTZ, IGV, SLV, EWA, EWO, EWK, EWC, ECH, EWQ, EWG, EIS, EWI, EWJ, EPP, EWS, EWY, EWD, EWL, EWT, THD, EWU, QLD, IBB, PBE, PXJ, PJP, ROBO, IEV, IXN, SSO, MXI, GLD, SPY, XLK, USO, SMH, VIS, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Wednesday 9/29/21. 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.

Any bullish signal has disappeared. See that spike in the CPI line (bottom of chart), late this month? It used to be taller, triggering a bullish green bar. But the indicator can change for up to a week and this is an example of that. The signal disappeared, replaced by the red bar on the right.

We've been bearish since early September. The CPI says we'll stay bearish for a time. It's also at or near 0, so the only way it can go is up...

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 of the above sets of numbers are exactly what they were a week ago, so I'm thinking I made a mistake. The charts are different though, so let's talk about them.

During the past week, the red line made a strong recovery and then dropped today (Tuesday night). The overall trend is downward, bearish. I mentioned the downtrend before, recently, how the red line used to be higher going back as far as March or April.

September is the weakest month of the year and it's almost over. October can be nasty or not but November is usually a strongly bullish month. The 2021 forecast suggests we've hit the low and we'll recover from here. That means a strong October, a wobbly November, to finish the year strong.

Although the charts shown in this post are bearish, I think the downtrend is about over. Just a guess...but I might buy the dip again to load up on my favorites.

$ $ $

Here's a symbol list of 207 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, ACN, ADBE, ADTN, AJRD, AES, AKAM, ALB, ALKS, ADS, AYX, AEL, AFG, AMWD, ABC, AMN, AON, APA, ATR, AWI, AVNT, AVA, BMI, BLL, BSET, BRC, BLDR, CPB, CE, CNP, CHD, CSCO, CTXS, CGNX, COP, CRH, CCK, DHR, DECK, DOV, DRQ, DTE, BOOM, EBAY, EPAM, EQT, EL, RE, EXPD, FICO, FOE, FLS, FMC, GIS, GS, HIG, HQY, HL, HSII, HOLX, HD, HOV, HUBG, HURC, ILMN, INFN, NSP, IPAR, TILE, IVC, NVTA, JKHY, JAZZ, KELYA, KFRC, KBAL, KMB, KLAC, LH, LRCX, LLY, L, LXU, MTSI, MAN, MCHX, MRTN, MLM, MTRX, MDC, MDT, MGEE, MSFT, MUR, MYGN, NOV, NEU, NVDA, ORI, OMC, PAYX, PYPL, PFE, PG, PEG, DGX, RMBS, RJF, RLI, SLB, SMG, SEE, NOW, SHW, SWX, SR, STMP, SXI, SNPS, TGT, TECH, TER, TXT, TMO, TOL, TSCO, TZOO, TG, VMI, VRSN, VMC, WMT, WWW, WDAY, ZBRA, IYK, IYC, IHI, IEZ, IHE, FTEC, QTEC, BOTZ, ICF, IYH, IHF, IYZ, IYF, EWA, ECH, EWQ, EWG, EWJ, EPP, EWY, EWD, EWL, THD, EWU, QLD, IBB, DBA, PBE, PXJ, PJP, PHO, ROBO, IEV, IXN, MXI, XLP, GLD, XLV, 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.

-- Thomas Bulkowski

Tuesday 9/28/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Continental Air: CAL 1.

$ $ $

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: ABT, AXDX, ADBE, AEIS, AES, APD, AEE, AXP, AIG, AON, APA, ACGL, BLL, BSET, BBY, BIG, BIO, BA, BLDR, COG, CPB, CE, CNC, CENX, CF, CVX, CHD, CLNE, CNO, ED, COP, CLR, CR, CRH, CCRN, CMI, DECK, XRAY, DVN, DFS, D, DRQ, DTE, EXP, WIRE, EOG, EQT, RE, XOM, EZPW, FE, GE, GIS, GNW, GES, HBI, HIG, HL, HP, HOLX, HD, HOV, IBKR, TILE, KMB, LNC, LOW, MRO, MCHX, MTRX, MSFT, MUR, NBR, NFG, NOV, NFLX, NTAP, NKE, NI, NWPX, OXY, OLN, OMC, PKG, PTEN, POR, PG, PRU, RL, RMBS, RCKY, RES, SLB, SRE, SWN, TDC, RIG, TG, TREX, VLO, WLK, WMB, IAI, IYE, IHI, IEO, IEZ, DDM, FXI, ICF, IAT, IGE, IYF, EWO, EWC, ECH, EWH, EWI, EWW, EWY, EWP, EWD, EWL, TUR, IBB, PPA, DBA, PXJ, ROBO, IXC, XLE, XLF, XLV, UNG, USO. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Monday 9/27/21. 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.

The index was following a channel upward (red lines) for months and then it stumbled. Let's talk about that.

The index started its move down at C but then tumbled in one day, bottoming at A. It has rebounded to B which, eyeballing it, looks like a 50% retrace of the CA decline. My ruler tells me it's closer to 62% than 50% but I didn't calculate it.

I'm talking about a Fibonacci retrace here. If you read the research, the article ends with this note: "Fibonacci extensions work no better at predicting where price is going to turn than any other percentage." And yet I use them for guidance. Go figure.

If B is at resistance setup by the retrace value, then look for the index to drop again. It's at a knot of resistance, too, so that'll help price from rising.

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 62 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, AJRD, AES, AMED, ABC, AGO, BLL, BZH, BBBY, CDNS, CNC, CTS, EIX, EZPW, IT, GNW, GL, GGG, GFF, HIG, INTU, IVC, KMB, LEG, LMT, LOW, MRO, MCHX, NOV, NWPX, OMI, PICO, PPL, RGS, SCHW, SCCO, SWX, SWN, STMP, TECH, TOL, VRTX, WRB, ZBRA, IDU, FXI, ICF, IHF, IYZ, SLV, EWH, EWW, TUR, PXJ, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski

Friday 9/24/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 102 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, ACN, AEIS, AES, ALRM, ALB, ALKS, AEP, AXP, BMI, BLL, BOOT, BBW, CAL, CLS, CX, CNC, CF, CHS, CRH, CROX, ^DJT, D, DTE, EIX, EL, EZPW, FB, FDX, FORM, IT, GD, GL, HIG, HE, HL, TILE, INTU, IVC, KELYA, KFRC, KSS, LOW, LXU, M, MRO, MCHX, MA, MU, MOS, NXGN, NKE, NI, OMC, ASGN, OUT, PAYX, PRFT, PHM, RCKY, CRM, SWN, SCS, SUM, TECH, VRSN, V, WRB, WLK, WEX, IAI, DDM, FXL, BOTZ, ICF, IAT, IGV, IYF, EWO, EWK, EWQ, EWG, EIS, EWI, EZA, EWY, EWP, EWD, EWL, EWT, DBA, IEV, XLF, GLD. 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 29 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 5.1%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 12 bullish chart patterns this week and 6 bearish ones with any remaining (10) 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 9/23/21. 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 index shows a double top at AB, confirmed when the index closed below the valley low marked by C.

Recently, a channel has appeared, shown here as two parallel red lines. The recovery is marching upward at a sustainable pace (about 45 degrees), so that's good.

Because the index is heading toward the bottom trendline, look for it to near or touch the trendline and bounce upward. There is some concern that the index could punch through the bottom line and head lower. The above probabilities suggest it's unlikely, though.

$ $ $

Here's a symbol list of 115 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADBE, AJRD, ATSG, AKAM, AA, AYX, AEE, AIG, APH, ANTM, ARCB, AWI, ARW, BMI, BLL, BZH, BBBY, BIIB, BRKS, CLS, CNC, CNP, CENX, CF, CHD, CINF, CGNX, CTSH, CLR, CR, XRAY, DDS, BOOM, EMR, WIRE, EZPW, FB, FDX, GD, GS, HIG, HTLD, HSIC, HNI, HON, JBHT, ITW, INCY, INOV, ITGR, IPG, IVC, K, KMT, LAMR, LDOS, LNC, LMT, L, MAN, MCHX, MDT, MU, NTAP, NWL, NOC, OLN, ASGN, PATK, PRFT, PCG, PRU, ROG, SMG, SEE, SIGI, SMTC, SWN, STMP, SXI, TECH, TFX, TER, TXN, RIG, TREX, UGI, UPS, VMI, WMT, WERN, IAI, IYK, DDM, IYZ, EWO, EWK, EWQ, EWG, EWH, EWI, EPP, EZA, EWY, EWD, EWT, EWU, PEJ, PJP, IEV, UNG, VIS. 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 9/22/21. Indicators Bearish

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 did a terrific job of signaling a change from a bull market to a bearish one (not a bear market, which sees price drop at least 20% below a high). The market has tumbled after the signal.

Will the drop continue?

I didn't give it much thought when I went shopping for a stock on Monday. I bought near the close and made a killing (on paper) on the rebound. Buy the dip, it's called, and it was an easy time to load up on small positions at a good price.

Getting back to the question, will the downtrend continue? My guess now is yes, it will. Maybe another strong move down will do the trick. We've still a few days before September is over, so there's plenty of time to shake more bulls out of the market. Clearly, the markets struggled to go higher today.

Let's check the next chart to see what is says.

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

Both lines took a drop from where they were a week ago. No surprise there, considering Monday's plummet. The red line has dropped below the July low, too. Is that significant? I've no idea.

Look at the July drop (red line). Notice it's V shape. The recovery was fast after that one and we could see that kind of a move here. I don't see anything significant or long lasting to keep the market down, so we might make a strong move up. I'm a bit wary about what comes next. Maybe we'll see both. A large drop and a snap-back recovery.

$ $ $

Here's a symbol list of 204 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, AXDX, ADTN, AES, AFL, APD, ATSG, AKAM, ALK, AA, ADS, AMZN, AEE, AMWD, APH, ANIK, APA, AAPL, ADM, AWI, AVY, AVNT, AVA, AXS, BLL, BECN, BBBY, BERY, BIIB, BKH, BAH, EPAY, BBW, BG, CBT, COG, CACI, CPB, CLS, CNC, CNP, CENX, CHKP, CIEN, CSCO, CTXS, CLNE, CLF, CNA, CNO, CGNX, CTSH, CSOD, GLW, COTY, CR, CCK, CTS, CMI, DECK, XRAY, DUK, EMN, EBAY, EMR, EFX, EQT, EZPW, FFIV, FB, FDS, FICO, FDX, FIS, FCX, GPS, GE, GPN, GL, GS, GGG, EVRG, GFF, HBI, HIG, HTLD, HSIC, HURC, IDA, INCY, INFN, IBP, ITGR, INTC, IBKR, IPG, IVC, JBLU, KALU, KBH, KMT, KBAL, KLAC, KLIC, LHX, LRCX, LNC, RAMP, L, MHO, MAN, MRO, MCHX, MAS, MA, MTRN, MTRX, MDC, MDT, MSFT, MLHR, MLI, MUR, NBR, NTAP, NWL, NOC, NUS, NVDA, OGE, OLN, ASGN, PKG, PKE, PATK, PDCO, PYPL, PNW, PLXS, PPL, PFG, PRU, PEG, RMBS, RJF, RGA, RNG, RLI, ROK, SCHW, SAIC, SMG, NOW, SWN, SCS, SSYS, TPR, TFX, TDC, TER, TKR, UGI, VFC, VLO, WLK, WEX, WMB, ZBRA, IYM, ITB, IEZ, QTEC, FXI, EWO, EWM, THD, QLD, PXJ, QQQ, XHB, XLI, XLK, XLU, UNG, VIS. 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 9/21/21. Slider Trading Quiz! ConAgra Foods: CAG

$ $ $

I show another slider trading quiz featuring ConAgra Foods: CAG.

$ $ $

Here's a symbol list of 293 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACIW, AEIS, AMD, AES, AFL, ATSG, ALRM, ALB, ALL, DOX, AEE, AFG, AIG, APH, ANIK, AON, APA, APOG, AAPL, ACGL, ARW, AIZ, AVY, AVNT, AXS, BMI, BLL, BBBY, BERY, BKH, EPAY, BLDR, CBT, CACI, CE, CLS, CX, CNP, CENX, CHKP, CHD, CIEN, CINF, CSCO, CLNE, CLF, CNA, CNO, CGNX, CTSH, ED, CSOD, GLW, COTY, CR, CRH, CCRN, CSGS, CMI, DECK, DVN, DFS, ^DJT, ^DJI, BOOM, EXP, EMN, EMR, EFX, EQT, EL, EXPD, FB, FICO, FDX, FEYE, FMC, FORM, FCX, GE, GPN, GL, GS, GOOGL, GGG, EVRG, GES, HBI, HIG, HL, HSII, HP, DHI, HURC, IEX, INFN, NSP, IBP, ITGR, INTC, IBKR, IPI, JBLU, KBH, KELYA, KMT, LZB, LAWS, LEG, LEN, RAMP, L, MAN, MRO, MRTN, MAS, MTRN, MGEE, MSFT, MLHR, MCO, MS, MLI, NBR, ^IXIC, CNR, NWL, NKE, NVDA, OXY, ORI, OLN, ASGN, OTEX, OMI, PKG, PANW, PTEN, PYPL, PRFT, PLXS, PRU, PEG, QCOM, RL, RMBS, RJF, RGA, ROK, ^GSPC, SAIA, SLB, SCHW, NOW, SCCO, LUV, SCS, SSYS, SNPS, TFX, TDC, TXN, TKR, RIG, TRV, TG, TREX, SLCA, UPS, UNM, VLO, VMI, WMT, WSO, WLK, WEX, IYM, IAI, IYK, IYE, ITB, IEZ, DDM, FTEC, FDN, FXL, FXI, IAT, IYZ, IGE, IYF, EWA, EWO, EWK, EWZ, EWC, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWM, EWW, EPP, EWS, EZA, EWY, EWP, EWD, EWL, EWT, THD, TUR, EWU, QLD, IBB, PPA, DBA, PEJ, PXJ, QQQ, PHO, IEV, IXN, ILF, SSO, MXI, XLY, XLP, XLE, XLF, XLV, XHB, XLI, XLB, SPY, XAR, XLK, USO, VIS, VAW, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

The 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 9/20/21. 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 on the daily scale.

I drew two trendlines, shown here in red. The first is along the bottom. It has 3 touches but only two are widely spaced. Touch spacing is important to the strength (performance) of the trendline (acting as support and resistance).

The top line I drew along the peaks, connecting the early ones but slicing through point A.

The index moved above the top trendline and fell back down below it. It looks as if the Nasdaq will bounce off the bottom line.

Stay tuned to see if it actually happens. That means I'm expecting the Nasdaq to continue moving lower.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

Swing Traders: Pivot Points

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

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

Here are the formulas:

Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 126 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AES, APD, ALRM, AYX, AEE, AFG, ANTM, AAPL, ARCB, ASH, ADP, BLL, BAX, BECN, BOOT, EPAY, CBT, CACI, CLS, CX, CNP, CIEN, CMCO, ED, CSOD, CRH, CMI, DECK, DVN, D, DTE, EMN, RE, EXPD, FAST, FE, FIVN, FLS, FORM, GIS, GL, GS, GGG, EVRG, HIG, HAYN, HL, HP, HSIC, HD, HUBG, HURC, ITW, INFN, IPI, INTU, JAZZ, KMT, KFRC, LAMR, MAN, MRTN, MAS, MTRN, MGEE, MLHR, MCO, MLI, NBR, NTGR, NKE, NWPX, NVDA, ASGN, PKG, PANW, PFE, PCG, PGR, PRU, PEG, RL, RMBS, RES, SAIA, SAIC, SEE, NOW, SCCO, SCS, TFX, TDC, TXN, TKR, UNM, IYM, QTEC, IHF, SLV, EWA, EWO, EWZ, EEM, EWQ, EWM, EPP, EWS, EZA, EWY, EWP, EWD, EWL, THD, TUR, MXI, GLD, XAR, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski

Friday 9/17/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 149 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACIW, AJRD, AES, ALRM, AMZN, AEE, AMN, APH, ANIK, ANTM, APOG, AMAT, ADP, AVY, AXS, BLL, BERY, BIG, BKH, BOOT, CBT, CACI, CX, CNP, CNO, ED, CR, CMI, DECK, DVN, ^DJU, DOV, WIRE, EFX, EZPW, FFIV, FE, GME, GD, GL, GS, GPRO, GES, HBI, HIG, HAYN, HQY, HL, HELE, HP, HSIC, HNI, HURC, IPAR, INTU, ISRG, K, KMT, KSS, LHX, LLY, LMT, LOW, M, MAN, MTRN, MTRX, MRK, MGEE, MU, MLHR, NBR, CNR, NJR, NXGN, NOC, ORI, OLN, ASGN, OXM, PFE, POR, PPG, PRU, RMBS, RHI, RCKY, ROG, RES, SAIC, SMG, NOW, SO, SCCO, SXI, SCS, SRDX, TFX, TDC, TER, TXT, TSCO, TG, UNM, VLO, VMI, VRTX, VC, WMT, WAT, WDAY, ZBRA, IYM, IHE, FXI, IGV, SLV, EWZ, EEM, EWH, EPP, EWL, TUR, PEJ, PJP, PHO, ILF, MXI, XLY, XLB, XAR. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

There were 15 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 2.6%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 10 bullish chart patterns this week and 4 bearish ones with any remaining (1) 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 9/16/21. 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 BTC-USD (bitcoin).

I wrote about a month ago about the coin making a double bottom and predicting a rise. That was correct and it took the coin from about 47,000 to almost 53,000 (up to D).

There's a smaller double bottom at AB. I confirms at C when the coin closed above the peak between the two bottoms. Target: D.

I'm using the measure rule here, which is the height of the double bottom (A to the red line) added to the value of the red line. I'm eyeballing it, but it should top out near the old high (D) if it behaves itself.

$ $ $

Here's a symbol list of 86 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACN, AES, AA, ADS, AEE, ABC, ARCB, ADP, BLL, BIG, BRKS, CBT, CALM, CAL, CLS, CENX, CTXS, CLF, CNA, CMCO, ED, COTY, DVN, D, DUK, WIRE, EOG, FIVN, FLEX, FCX, GPN, EVRG, HIG, DHI, HURC, INFN, IBP, JKHY, KALU, KLIC, LDOS, RAMP, MRO, MTRX, MGEE, NXGN, NUS, OLN, OMCL, ASGN, PINC, RMBS, REV, SIGI, NOW, SKX, LUV, SXI, SUM, SRDX, TFX, TDC, TXN, TG, WMT, WERN, IYM, IYK, IEZ, IHE, FXI, EWZ, ECH, EWQ, EWH, EWP, EWL, XAR, USO, SMH. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Wednesday 9/15/21. A Look At Indicators

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

The CPI (chart pattern indicator not the consumer price index) has signaled a bearish turn as shown by the vertical red line on the far right of the chart.

The bearish signal has been on the chart for over a week now, so it'll remain as a valid signal. By that, I mean signals can appear or disappear for up to a week but are usually stable after 3 trading days. So this one is here to stay.

The call was a timely one. It predicted this downturn. If you look at the thin blue CPI line at the bottom of the chart, it's near 0. That suggests the downtrend has more to go, but don't rely on it too much. A swift move up (in the markets) can force the line to bounce off the top of the scale, changing a bearish signal to bullish.

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 indicator lines, red and blue, have been bearish since June. Maybe we're seeing the markets begin to pay attention that it's September, historically the weakest month of the year.

Both lines are lower this week compared to a week ago.

The prior chart is bearish and so is this one. It suggests more weakness in the markets will follow. So I'd get ready to buy with the cash you have. A strong market drop and I'd be nibbling. October might see a downward move, too, but November will probably see the markets firming up. Of course, this will be moot if the market suddenly surges in the coming days. They've shown resilience against what was supposed to be a weak period. Look at slide 7 here. It shows the indices bottoming sometime next week.

$ $ $

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: ANF, AES, AFL, ALKS, ADS, ALL, AYX, AEE, AEL, AXP, AIG, ABC, APH, APOG, AMAT, ARCB, ACGL, ADM, AVNT, AXS, BLL, BECN, BBY, BIG, BKH, BAH, EPAY, BRC, BG, CBT, COG, CACI, CAL, CLS, CX, CENX, CHKP, CVX, CHD, CIEN, CINF, CLNE, CNO, CL, CMCO, CMTL, ED, CONN, CW, DVN, DFS, D, DUK, BOOM, EMN, EIX, EQT, EXC, XOM, FDX, FOE, FIS, FRD, GPS, GE, GILD, GL, GS, EVRG, GFF, HSC, HIG, HELE, HP, HNI, HOLX, HD, HURC, INFN, NSP, IBP, IIIN, INTC, IPI, KSS, KLIC, LAMR, LDOS, LNC, L, LOW, LXU, MTRX, MGEE, MLHR, MOS, MLI, MUR, NTGR, NWL, NKE, NUS, ORI, ASGN, OXM, PATK, PICO, PNW, PINC, PFG, PRU, RL, REV, RNG, RLI, SAIA, SAIC, SIGI, SRE, NOW, STMP, SRDX, TFX, TDC, TEVA, TKR, RIG, TRV, TG, SLCA, VFC, VRTX, WMT, WU, WEX, ITA, IYM, IYK, IEO, IEZ, IHE, DDM, IHF, IAT, IYZ, IGE, IYF, EWO, EWK, EWZ, EWQ, EWI, EWJ, EWM, EZA, EWY, EWP, IBB, PPA, PXJ, MXI, XLF, 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 9/14/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Columbus McKinnon: CMCO

$ $ $

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: ABT, ADTN, AFL, ATSG, AYX, AXP, AMGN, ANIK, APA, APOG, AMAT, ADM, ARW, AGO, ADP, AVNT, AVA, BLL, BECN, BIO, CBT, CPB, CX, CNP, CHKP, CVX, CNA, CMCO, ED, CROX, DUK, EIX, WIRE, EOG, XOM, FICO, FAST, GPN, GS, EVRG, GES, HIG, HAYN, HTLD, HSII, HOLX, IDXX, TILE, IPG, IVC, JNJ, KMT, LANC, MRO, MTRN, MGEE, MLI, MUR, NXGN, NVDA, OLN, OMC, ASGN, PATK, PRFT, PETS, PFE, PICO, PNW, PINC, PFG, PG, PEG, KWR, REV, RES, SEE, SLGN, SKX, LUV, SWN, STMP, SCS, TECH, TDC, TEVA, TMO, TSCO, SLCA, WMT, WU, WEX, IYM, IYE, IHE, IDU, IAT, IGE, IYF, EWA, EWO, EWK, EWZ, EWQ, EWG, EWI, EPP, EZA, EWY, EWP, EWU, IBB, PBE, IEV, IXC, ILF, MXI, XLE, XLF, XLV, UNG, USO. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

Monday 9/13/21. 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 Dow industrials on the daily scale.

I find trendlines valuable. They highlight support, resistance, momentum, as well as the price trend. Those features are valuable. So I drew two red trendlines on the chart to see what they say.

The bottom trendline is more important than the top one. Why? Because it touches or comes close to price four times. It's longer than the top one and the touches are spaced farther apart. All of that is important to a trendline.

The bottom trendline has price dropping toward it. The line might act as support and turn the index upward. If you look at the other three touches, notice that they are brief, a day or two. Using that as experience suggests but doesn't guarantee that this touch will also be brief.

Of course anything can happen. The index might crash through the trendline. It could ride along it for weeks. Or it could bounce of it. We won't know for sure until it happens. My guess is it'll touch the line and rebound.

How far will price rise? The top trendline as I explained isn't that reliable. It's based on just two touches when three is a minimum. But the slope mirrors the slope of the bottom trendline. That's valuable. It creates a channel where price might float in the coming weeks. The line can serve as a ceiling, assuming the index recovers.

It's September, historically the weakest month of the year. Let's watch how it plays out.

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 199 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AYI, ADTN, ATSG, AKAM, ALRM, ALK, AA, AYX, AMZN, AXP, ANIK, ANTM, APA, AMAT, ARW, ASH, AIZ, AGO, AVNT, BLL, BSET, BECN, BMRN, BKH, BA, BKNG, EPAY, BLDR, CBT, COG, CACI, CPB, CE, CNP, CHS, CHD, CIEN, CSCO, CLX, CNO, CMCO, CMTL, ED, GLW, CREE, CCK, CW, XRAY, D, WIRE, EFX, EL, RE, EXC, FDX, FEYE, FIVN, FRD, GPS, GE, GNW, GILD, GPN, GL, GPRO, EVRG, GES, HIG, HSII, HELE, HNI, HOV, IDA, IBP, IBKR, ISRG, JCOM, JKHY, JNJ, KBH, KBAL, KLAC, KSS, LRCX, LDOS, LNC, M, MAN, MCHX, MA, MDT, MGEE, MLI, NCR, NTAP, NWL, NEU, NXGN, JWN, NWPX, NUS, ORI, OLN, ASGN, OXM, PATK, PRFT, PICO, POR, PGR, PRU, PEG, KWR, RJF, RGS, RGA, REV, RHI, SCHW, SMG, SEE, SEIC, SLGN, LUV, SWX, SWN, SR, SCS, SUM, TDC, TXT, TKR, UNM, VFC, VC, WEX, ITA, IYM, IAI, IYC, IHE, FXL, BOTZ, IYH, IHF, IAT, IGE, IYF, EWA, EWK, EWC, EWH, EIS, EWS, EZA, EWP, EWT, TUR, IBB, PPA, DBA, PBE, PEJ, ROBO, XLF, XHB, XLI, XRT, XAR, 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 below industries were the best (rank 1) or worst performing of those I follow.

-- Thomas Bulkowski

Friday 9/10/21. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 125 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AES, ALKS, AMZN, APA, ARW, ATO, AVNT, BCPC, BLL, BAX, BECN, BMRN, BKH, EPAY, BRKS, COG, CACI, CPB, CX, CHKP, CVX, CHD, CIEN, CNO, CONN, GLW, CCRN, CTS, CMI, EMN, FICO, FAST, GES, HIG, HQY, HTLD, HOLX, DHI, IDXX, ITW, ILMN, IIIN, ITGR, INTC, IPG, ISRG, IVC, JKHY, JNJ, KFRC, KBAL, KLAC, LHX, LH, MANH, MRTN, MTRX, MDT, MSFT, MLHR, NFLX, NJR, NXGN, NWPX, NUS, OLN, ASGN, PCG, PICO, PPG, PGR, PHM, RMBS, RLI, ROK, ROG, SEE, SO, SWX, SCS, SSYS, SUM, TPX, TXN, TMO, TOL, UGI, UNM, VLO, VEEV, VRTX, WMT, WERN, WEX, IYK, ITB, IYH, IAT, EWA, EWK, EWZ, EWQ, EWG, EWI, EWM, EWS, EZA, EWY, EWT, EWU, DBA, IEV, XLY. 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 24 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 4.2%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

Excluding ETFs, there were 13 bullish chart patterns this week and 6 bearish ones with any remaining (5) 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 9/9/21. 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.

This is a target rich environment. Let's start from the left and go right.

At EF, we see a confirmed Adam & Eve double bottom. The Adam bottom is narrow and often spike-shaped while Eve is wide and more rounded looking. The chart pattern confirms when the index closes above the peak between the two bottoms.

Next is 123. That's a triple top and it's bearish. It also confirms at C but the index doesn't drop much. To me, that's a sign of strength, but in this case, the Adam & Adam double bottom at CD didn't power the index much higher. Yes, the climb after CD exceeded the measure rule (the height of the pattern added to the breakout price, which serves as a target) but the index still bumped up against resistance near the 123 tops.

Today, we see an Adam & Adam double bottom, confirmed, and price made a decent but not exceptional recovery after the opening plunge. Notice that price peaked at 15,300 after AB, which is what CD and the valley between 1 and 2 reside. That's overhead resistance.

The index may struggle to burn through that resistance. Indeed, the index may drop. The above predictions agree with my assessment.

$ $ $

Here's a symbol list of 181 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACIW, ADTN, ATSG, AKAM, ALRM, AA, ANIK, APA, ARCB, ADM, ARW, ASH, AGO, AVNT, AXS, BLL, BECN, BBBY, BIIB, BMRN, BKH, BA, BBW, CBT, COG, CPB, CLS, CX, CNP, CF, CVX, CTXS, CLNE, CNO, CONN, COP, GLW, COST, COTY, CRH, CTS, DVN, DFS, D, DRQ, DUK, EMN, EIX, EOG, EXPD, EZPW, FLS, FWRD, GIS, GPRO, GES, THG, HSC, HIG, HTLD, HSY, HNI, HD, DHI, IDA, INFN, IBP, IIIN, INTC, IPAR, INTU, IVC, NVTA, JBLU, K, KFRC, KBAL, KMB, LDOS, RAMP, MRO, MAS, MLHR, MLI, MUR, MYGN, NFG, NOV, NTGR, NEU, NXGN, JWN, OXY, OLN, ASGN, PATK, PTEN, PAYX, PYPL, PICO, PG, PGR, PEG, PHM, REV, RNG, ROG, ROST, RES, SLB, SEE, SHW, SO, LUV, SXI, SCS, SSYS, SUM, SNPS, TPR, TER, RIG, TZOO, TG, UPS, VLO, WRB, WAT, WLK, WEX, WMB, WWW, ZBRA, IYM, ITB, IEO, IEZ, EWO, EWK, EWZ, EWH, EWI, EWM, EWW, EWS, EWY, EWD, EWL, THD, TUR, DBA, PXJ, ILF, MXI, XLY, GLD, XHB, XLB, UNG, VAW. Clink this link for details (pattern type, start and end dates).

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

$ $ $

The 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 9/8/21. A Look At Indicators

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

The CPI has signaled a bearish turn for the markets, but don't let it fool you. It could be a fake signal because the indicator can change for up to a week. However, it's usually stable after three days.

The drop from near or at 100 to below 36 suggests a radical change in the markets, as if it was waiting to tumble. So maybe this is real, but only time will tell if that's true.

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).

This week, compared to a week ago, the red and blue lines dipped one percentage point each. That's not a big move compared to what we've seen in the past. Even so, any downward move is bearish.

In fact, if you look at the red line, you'll see that the late August peak is below the peak in early August, suggesting weakness, too. So maybe today's decline is more serious than just a one day's weakness.

Of course, we'll find out in the coming days but it'll pay to be careful here. Remember September is, historically the weakest month of the year.

$ $ $

Here's a symbol list of 127 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, ADBE, ADTN, ALRM, AA, AEE, ABC, ANIK, ACGL, AWI, ATO, BLL, BBBY, BIIB, EPAY, BRC, BRKS, BBW, CACI, CDNS, CALM, CLS, CF, CHKP, CHD, CNA, ED, CR, CROX, CSGS, CW, XRAY, D, DUK, EMN, EPAM, EFX, RE, FFIV, FEYE, FLS, FDP, GIS, GILD, GL, GPRO, HIG, HE, HP, HSY, HON, ITW, IBP, IIIN, IPAR, KELYA, KLIC, LANC, LEN, RAMP, LMT, MHO, MANH, MAS, MGEE, MCO, MYGN, NBR, NFG, NOV, NFLX, NEU, NKE, OGE, OMC, ASGN, PAYX, PPG, PG, PGR, PEG, RGA, REV, ROST, SEE, SEIC, SIGI, SO, SR, SCS, TPX, TER, RIG, TZOO, UGI, UPS, VC, WU, WWW, ZBRA, FDN, FXL, BOTZ, ICF, EWO, EWK, EEM, EWS, QLD, PPA, QQQ, PHO, IEV, IXN, 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.

-- Thomas Bulkowski

Tuesday 9/7/21. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Coherent (COHR).

$ $ $

Here's a symbol list of 132 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, AKAM, AA, DOX, ANIK, AMAT, ACGL, ASH, AGO, BLL, BSET, BBBY, BKNG, BRC, BRKS, BBW, COG, CACI, CX, CHS, CLF, CMCO, ED, CONN, CSGS, D, BOOM, EMN, EPAM, EQT, FISV, FLS, FMC, FCX, FDP, GNW, GL, HIG, HTLD, HL, HP, HON, IDA, IIIN, IBKR, IVC, JKHY, KBAL, KLAC, LHX, LRCX, LEG, LEN, LNC, RAMP, LMT, MTRN, MGEE, ^IXIC, NEU, JWN, NVDA, OXY, OGE, OMC, ASGN, PKE, PYPL, PFE, PCG, PICO, PFG, PG, PRU, KWR, RGA, RCKY, ROST, SEE, SRE, SO, LUV, SWN, SXI, SCS, TGT, TER, TOL, TSCO, TZOO, UGI, VC, WERN, WU, WDAY, XLNX, FTEC, FDN, QTEC, BOTZ, EWA, EWO, EWZ, EEM, EIS, EWJ, EWW, EZA, EWT, IXN, GLD, VIS. 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, Labor Day, 9/6/21. Site Support

Monday is a trading holiday in the US.

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 during the visit. 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 does not increase the cost of anything you buy), it's easy to do, and it supports this site.

Thanks! -- Tom Bulkowski

Friday 9/3/21. Pattern Trading Setups for the Weekend.

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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: MMM, ANF, AA, ADS, AEO, ABC, ANIK, ACGL, ASH, AGO, AVA, BSET, BAX, BBBY, BBY, BMRN, EPAY, BRKS, BBW, BLDR, COG, CPB, CLS, CX, CNC, CF, CVX, CHS, CLF, CMCO, CONN, COP, COST, CROX, CW, DHR, DECK, ^DJT, DOV, DTE, BOOM, EFX, EQT, XOM, FAST, FIS, FE, FISV, FMC, FCX, FRD, GNW, GL, GOOGL, GPRO, HIG, HL, HP, HOV, ILMN, IBKR, ISRG, IVC, JKHY, JNJ, KMB, LHX, LZB, LH, LEN, RAMP, L, MTSI, MA, MTRX, MU, NBR, JWN, NWPX, NUS, OXY, ASGN, PFE, PG, PEG, KWR, DGX, RCKY, CRM, SIGI, SMTC, SHW, SWN, SCS, SUM, SRDX, TDC, TER, TXT, TOL, TREX, VFC, V, WAT, WERN, WSM, IHI, FXI, BOTZ, ICF, EWA, EWO, EWZ, EEM, EPP, EWS, EZA, EWD, PBE, PJP, ROBO, IEV, ILF, XLY, XLE, XLV, XLI, XRT, UNG, VHT, VIS, MGK. Clink this link for details (pattern type, start and end dates).

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

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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 21 patterns found this week (excluding pipe bottoms; pipe tops and bottoms are found looking back 2 weeks) out of 574 stocks searched, or 3.7%. Based on the percentage, the stock market is trending since few consolidation patterns appear.

I found 7 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 16 bullish chart patterns this week and 3 bearish ones with any remaining (9) being undecided. The ratio of bullish to bearish patterns suggests the market is bullish.

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 9/2/21. Cryptocurrency DOGE-USD

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 thought I'd oscillate discussing the Nasdaq with cryptocurrencies each Thursday.

I show a chart of DOGE on the daily scale. The price scale of this chart ranges from a dime to 45 cents. Tiny, in other words. I had to play with the settings of both time and price to get what I wanted. It's on a linear scale because the log scale on my chart doesn't like price below a buck.

AB is a Adam & Eve double bottom. It confirms when the coin closes above blue line C. In this case, the move after that doesn't meet the measure rule.

By that, I mean the height AC added to C should give a target and it does, but the coin doesn't reach it.

Line BE outlines a bump-and-run reversal top. The lead-in phase is tight with price climbing near a constant pace. After that, we see the bump take price up to D. And then down she goes, toward E.

The coin could touch the trendline and bounce upward in a dual bump or it could plunge right through. It might bounce off the line and rise. I don't know which of these three scenarios is more likely, but it merits watching. If the BARR top works like it's supposed to, you'll see the coin drop below the trendline, perhaps making a large drop. First, though, the coin has to return to the red trendline.

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Here's a symbol list of 151 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ANF, AFL, ALRM, ALB, AA, ADS, AMZN, AEL, AMGN, APH, ARCB, ACGL, AGO, AXS, BSET, BZH, BBBY, BIIB, BRKS, BBW, COG, CPB, CLS, CX, CNC, CHKP, CHS, CINF, CAG, COST, CRH, CW, DECK, DFS, BOOM, EMR, EOG, EPAM, EQT, EXPD, EZPW, FICO, FOE, FE, FMC, FTNT, FCX, GPS, GNW, GL, HIG, HL, HP, HON, IIIN, IVC, LH, LANC, LDOS, RAMP, L, MHO, MCO, MUR, MYGN, ^IXIC, NTGR, NEU, JWN, NOC, OXY, ASGN, PAYX, PRFT, PFE, PCG, PFG, PRU, PEG, KWR, RCKY, ROST, SEE, NOW, SHW, SLGN, SWN, TER, TXN, TMO, TJX, UNM, VLO, VRTX, WAT, WSM, ZBRA, IYM, IYC, IHI, DDM, FDN, FXI, BOTZ, ICF, IAT, IYZ, EWA, EWK, EWZ, EWC, EEM, EWQ, EWJ, EWW, EPP, EZA, EWY, EWT, QLD, DBA, PBE, QQQ, ROBO, IEV, IXN, ILF, XLY, XLB, XAR, UNG, VAW. Clink this link for details (pattern type, start and end dates).

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

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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 9/1/21. 2021 Forecast Update

Here's the updated 2021 forecast for September, presented in slider format.

Based on sector performance from Fidelity, the best performing sectors for one-year performance as of 31 August 2021 were... (The numbering is how they ranked a month ago.)

The list shuffled from a month ago. Utilities lifted off the bottom. Information technology was in third place but it slipped to seventh.

The folks at two firms polled by Fidelity weigh the sectors in this order. It's puzzling that the experts think IT will outperform and yet it dropped substantially in one month.

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 8/31. The numbering is how they ranked a month ago but that was based on year-to-date performance. This list is for one year performance.

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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, ANF, AA, AEE, AEO, ABC, AMN, APH, AON, APA, ATR, ASH, AIZ, BSET, BBBY, BERY, BBY, BIG, BIIB, BMRN, BOOT, BRKS, COG, CX, CHKP, CHS, CHD, CLR, CROX, CTS, DOV, BOOM, EIX, WIRE, EPAM, EQT, EL, EXPD, EZPW, FICO, FOE, FIVN, FMC, FORM, FTNT, FCX, IT, GNW, EVRG, HBI, HE, HL, HP, HSY, JBHT, INOV, IBP, ITGR, IVC, LEG, LLY, LNC, RAMP, LOW, MTSI, M, MAN, MCHX, MRK, MLHR, MUR, NEE, NI, JWN, OXY, OMC, ASGN, PAYX, PETS, PFE, PPL, PG, KWR, RMBS, RNG, RCKY, SAIA, SLB, SCHW, SWN, SUM, TECH, TER, TXN, VLO, VMI, V, WMT, WMB, WSM, IHE, EWO, EWK, EWZ, EEM, EWJ, EZA, EWY, EWL, EWT, IXC, IXN, ILF, XLE, XLF, GLD. 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