Bulkowski's Blog: ThePatternSite.com
As of 10/03/2022
  Indus: 29,491 +765.38 +2.7%  
  Trans: 12,465 +406.70 +3.4%  
  Utils: 915 +26.32 +3.0%  
  Nasdaq: 10,815 +239.81 +2.3%  
  S&P 500: 3,678 +92.81 +2.6%  
YTD
-18.8%  
-24.4%  
-6.7%  
-30.9%  
-22.8%  
  Targets    Overview: 09/15/2022  
  Up arrow30,800 or 27,500 by 10/15/2022
  Up arrow13,800 or 11,800 by 10/15/2022
  Up arrow950 or 850 by 10/15/2022
  Up arrow11,500 or 9,700 by 10/15/2022
  Up arrow3,800 or 3,500 by 10/15/2022
CPI (updated daily): Arrows on 10/3/22
As of 10/03/2022
  Indus: 29,491 +765.38 +2.7%  
  Trans: 12,465 +406.70 +3.4%  
  Utils: 915 +26.32 +3.0%  
  Nasdaq: 10,815 +239.81 +2.3%  
  S&P 500: 3,678 +92.81 +2.6%  
YTD
-18.8%  
-24.4%  
-6.7%  
-30.9%  
-22.8%  
  Targets    Overview: 09/15/2022  
  Up arrow30,800 or 27,500 by 10/15/2022
  Up arrow13,800 or 11,800 by 10/15/2022
  Up arrow950 or 850 by 10/15/2022
  Up arrow11,500 or 9,700 by 10/15/2022
  Up arrow3,800 or 3,500 by 10/15/2022
CPI (updated daily): Arrows on 10/3/22

 

September 2022 Headlines

Archives


Friday 9/30/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 58 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AA, AMED, AMGN, APH, ANIK, ADM, BFH, CALM, CHD, CTXS, CMTL, CAG, COTY, EIX, EXC, FDS, FRD, GE, GIS, HSC, HSII, HELE, HURC, IPAR, IVC, JNJ, K, KSS, KLIC, LANC, MCHX, MLKN, NCR, NTGR, NWL, NEE, JWN, NUS, OXM, PCG, QCOM, SCCO, TDOC, TKR, UNM, VFC, WOLF, FXI, SLV, EWK, EWZ, EWH, EIS, EWM, 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.

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ANFTriangle, symmetrical      09/01/202209/29/2022Apparel
AJRDDouble Top, Adam and Adam      08/25/202209/09/2022Diversified Co.
AYXDouble Top, Eve and Adam      08/15/202209/12/2022Computer Software and Svcs
APAHorn top      08/29/202209/12/2022Petroleum (Producing)
ATOPipe top      08/01/202208/01/2022Natural Gas (Diversified)
AVADouble Top, Adam and Eve      07/01/202208/16/2022Electric Utility (West)
BIIBDouble Bottom, Eve and Eve      08/31/202209/23/2022Biotechnology
CBTHead-and-shoulders complex top      07/29/202209/12/2022Chemical (Diversified)
CDNSDiamond bottom      09/15/202209/29/2022Computer Software and Svcs
CVXPipe top      08/22/202208/29/2022Petroleum (Integrated)
COSTHead-and-shoulders top      08/01/202208/26/2022Retail Store
COTYTriple top      08/26/202209/21/2022Toiletries/Cosmetics
CWDouble Top, Adam and Adam      08/26/202209/12/2022Machinery
EOGDouble Top, Adam and Eve      08/29/202209/14/2022Natural Gas (Distributor)
EQTDouble Top, Eve and Adam      08/23/202209/14/2022Natural Gas (Diversified)
XOMHead-and-shoulders top      07/29/202209/12/2022Petroleum (Integrated)
FLEXPipe top      09/06/202209/12/2022Electronics
FCXHead-and-shoulders top      08/11/202209/12/2022Metals and Mining (Div.)
GEThree Falling Peaks      08/16/202209/12/2022Diversified Co.
GNWDouble Top, Eve and Adam      08/16/202208/26/2022Insurance (Life)
GFFPipe top      09/06/202209/12/2022Building Materials
THGDouble Top, Eve and Eve      08/19/202209/19/2022Insurance (Prop/Casualty)
HPTriple top      07/29/202209/14/2022Petroleum (Producing)
ITWPipe top      09/06/202209/12/2022Metal Fabricating
MOSPipe top      08/22/202208/29/2022Chemical (Diversified)
MURHorn top      08/29/202209/12/2022Petroleum (Integrated)
PEGDouble Top, Eve and Adam      08/19/202209/12/2022Electric Utility (East)
RJFDouble Top, Adam and Eve      08/16/202209/21/2022Securities Brokerage
RGADouble Top, Adam and Eve      08/12/202209/15/2022Insurance (Life)
ROSTDouble Top, Eve and Adam      08/17/202209/12/2022Retail (Special Lines)
SAIADouble Bottom, Adam and Adam      09/16/202209/23/2022Trucking/Transp. Leasing
TKRPipe top      09/06/202209/12/2022Metal Fabricating
WRBTriple top      08/18/202209/09/2022Insurance (Prop/Casualty)
WOLFDouble Top, Adam and Eve      08/26/202209/21/2022Semiconductor

 

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Thursday 9/29/22. Cryptocurrency: Ethereum

The Nasdaq climbed by 2.1% or 222.14 points. Since 02/05/1971 the Nasdaq made 57 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 35 occasions.
     Average loss was -1.4% on 22 occasions.
Expect the Nasdaq to close higher 61.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 245/432 or 56.7% of the time.
     The prediction of the Nasdaq closing lower has been right 66/138 or 47.8% of the time.

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

Picture of the ethereum.

$ $ $

I show a picture of ethereum cryptocurrency on the daily scale.

A head-and-shoulders top appears at LS (left shoulder) and RS (right shoulder) with a head between the two peaks. It confirms as a valid chart pattern when the currency closes below the blue neckline, at A. The currency continues lower to B but then look what happens.

It finds support there, at B.

That support is setup by a rectangle bottom, highlighted here with red lines at C. I extended the top red line to show that support at B.

What does all of this mean? I'm surprised that the currency bounced where it did. I would have expected it to drop a bit more into support before turning. So there might be a bit of a downward drift before a rebound or it could just continue higher. It appears to be moving sideways now, trying to figure out the next trend direction.

$ $ $

Here's a symbol list of 71 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, AES, ALB, ABC, AMN, ATO, BAX, BIIB, BRC, CSCO, CTXS, CMTL, ED, CCRN, DHR, ELV, FE, FLEX, HLIT, HAYN, HL, DHI, IDXX, IIIN, IPAR, TILE, IVC, NVTA, LLY, LXU, MCHX, MTRX, MYGN, NI, NVDA, OMI, PRFT, PHM, SCHW, SMTC, TDOC, TDC, RIG, SLCA, UNM, VRSN, WOLF, XEL, FTEC, FXL, ICF, IYZ, SLV, EWO, EWK, EWZ, EWH, EIS, EZA, EWL, TUR, IBB, PBE, PJP, XLV, UNG, VHT. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  9,421.50    
 Monthly S1  10,236.57  815.07   
 Weekly S2  10,251.79  15.22   Yes! The Weekly S2 is close to the Monthly S1.
 Daily S2  10,651.33  399.54   
 Weekly S1  10,651.72  0.38   Yes! The Weekly S1 is close to the Daily S2.
 Low  10,776.34  124.62   
 Open  10,817.52  41.18   
 Daily S1  10,851.49  33.97   
 61.8% Down from Intraday High  10,900.55  49.06   
 50% Down from Intraday High  10,938.92  38.37   
 Daily Pivot  10,976.49  37.57   
 38.2% Down from Intraday High  10,977.29  0.80   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  11,051.64  74.35   
 High  11,101.50  49.86   
 Weekly Pivot  11,132.64  31.14   Yes! The Weekly Pivot is close to the High.
 Daily R1  11,176.65  44.00   
 Daily R2  11,301.65  125.01   
 Weekly R1  11,532.57  230.91   
 Monthly Pivot  11,547.79  15.22   Yes! The Monthly Pivot is close to the Weekly R1.
 Weekly R2  12,013.49  465.70   
 Monthly R1  12,362.86  349.37   
 Monthly R2  13,674.08  1,311.22   

Wednesday 9/28/22. A Look At Indicators

Picture of the chart pattern indicator

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

Much to my surprise, the indicator was stuck near zero for the week. Very unusual. I still think we'll get a surprise moon shot higher, but that's a guess. We have a measured move down (MMD) chart pattern where price is likely to rise back to the corrective phase.

In letters, the MMD is ABCD with the corrective phase BC. Price after D will return to BC. That's what I expect to see in the coming week or two.

Picture of the percent down indicators

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

Shown as a red line on the above chart...
On Tuesday, 76% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 65%.
The fewest was 21% on 11/12/2021.
And the most was 79% on 06/17/2022.
Shown as a blue line on the above chart...
The 452 stocks in my database are down an average of 34% from their yearly high.
A week ago, the average was 30%.
The peak was 12% on 11/08/2021.
And the bottom was 34% on 09/27/2022.

Both the red and blue lines are worse today than they were a week ago. That's no surprise when the index tumbled like it has.

Putting the two charts together, they are both bearish, but the CPI chart shows promise of a rebound, as I discussed. I'll leave it at that.

$ $ $

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: MMM, AES, DOX, AEE, AEO, AMGN, AMN, APH, AON, AMAT, ADM, AWI, BCPC, BECN, BFH, CBT, CX, CF, CHKP, CTXS, CNO, CMTL, DHR, DECK, ELV, EL, GOOGL, GGG, HSY, HNI, DHI, JBHT, IDA, IEX, ITW, ILMN, IBP, IPAR, IPG, IVC, KBH, K, KELYA, KFRC, KLAC, LRCX, LANC, LXU, MANH, MAN, MCHX, MRTN, MA, MRK, MU, MSFT, NTGR, ASGN, PNW, PG, RMBS, RLI, SAIC, SMTC, SXI, SCS, TDOC, TFX, TER, TXT, UNM, VEEV, VRTX, WOLF, WDAY, XEL, FTEC, ICF, SLV, EWK, EWZ, EWH, EWJ, EWW, EWS, EWY, THD, IBB, PBE, ILF, XLP, XHB, USO, 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

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Tuesday 9/27/22. Slider Trading Quiz!

The Dow dropped by -1.1% or -329.6 points. Since 10/01/1928 the Dow made 315 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.9% on 148 occasions.
     Average loss was -0.8% on 167 occasions.
Expect the Dow to close lower 53.0% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 250/451 or 55.4% of the time.
     The prediction of the Dow closing lower has been right 48/99 or 48.5% of the time.

$ $ $

I show another slider trading quiz featuring Standex International: SXI, support and resistance stock.

$ $ $

Here's a symbol list of 246 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, AXDX, AMD, AJRD, AES, AFL, AA, AEE, AEO, AEP, AEL, AXP, AIG, APA, AMAT, AWI, ASH, AGO, AVY, AVNT, AXS, BSET, BMRN, BA, BLDR, BG, CBT, CE, CX, CENX, CF, CRL, CVX, CIEN, CTXS, CLNE, CNA, CTSH, CL, CONN, COP, CLR, GLW, COTY, CRH, DHR, DECK, DVN, DDS, ^DJU, ^DJI, DRQ, BOOM, EXP, EIX, EMR, EOG, EQT, EXC, EXPD, XOM, EZPW, FE, FLEX, FMC, FTNT, FDP, GD, GS, HLIT, HSC, HAYN, HL, HP, HD, IDA, ITW, ILMN, INTC, IPAR, IBKR, TILE, IPG, IPI, IVC, JKHY, JAZZ, KALU, KBH, KBAL, KSS, LZB, LH, LEG, LNC, L, MRO, MLM, MDT, MS, MOS, MUR, NFG, NOV, NEE, OXY, ORI, OMC, ASGN, OUT, PKG, PDCO, PYPL, PNW, POR, PPL, PFG, PRU, RL, RJF, RGA, ROK, ^GSPC, SLB, SRE, SMTC, NOW, SLGN, SKX, SO, LUV, SWX, SWN, SUM, TPR, TFX, TER, TXN, TSCO, TZOO, UPS, VLO, VEEV, WRB, WMT, WEX, WMB, WSM, WOLF, WWW, XEL, ITA, IYM, IAI, IYK, IYE, ITB, IEZ, IDU, DDM, ICF, IHF, IAT, IYZ, SLV, IGE, IEO, IYF, IHI, EWA, EWO, EWK, EWZ, EWC, ECH, EEM, EWQ, EWG, EIS, EWI, EWJ, EWM, EWW, EPP, EWS, EZA, EWY, EWP, EWL, EWT, THD, EWU, IBB, PPA, PEJ, PXJ, PHO, IEV, IXC, ILF, SSO, MXI, XLE, XLF, GLD, XHB, XLI, XRT, SPY, XAR, 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.

$ $ $

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

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  26,151.10    
 Monthly S1  27,705.96  1,554.85   
 Weekly S2  28,069.64  363.68   
 Weekly S1  28,665.22  595.59   
 Daily S2  28,881.25  216.03   
 Daily S1  29,071.03  189.78   
 Low  29,161.12  90.09   
 Close  29,260.81  99.69   
 61.8% Down from Intraday High  29,340.53  79.71   
 Daily Pivot  29,350.90  10.38   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  29,395.95  45.04   Yes! The 50% Down from Intraday High is close to the Daily Pivot.
 38.2% Down from Intraday High  29,451.36  55.42   
 Open  29,536.84  85.48   
 Daily R1  29,540.68  3.84   Yes! The Daily R1 is close to the Open.
 High  29,630.77  90.09   
 Daily R2  29,820.55  189.78   
 Weekly Pivot  29,846.06  25.51   Yes! The Weekly Pivot is close to the Daily R2.
 Weekly R1  30,441.64  595.59   
 Monthly Pivot  30,805.32  363.68   
 Weekly R2  31,622.48  817.15   
 Monthly R1  32,360.18  737.70   
 Monthly R2  35,459.54  3,099.37   

Monday 9/26/22. Market Monday: The Week Ahead

My Prediction

Picture of the Dow utilities on the daily scale.

This is a chart of the Dow utilities on the daily scale. Let's go though it by the letters.

At AB, we see two peaks near the same price. It confirms as a double top when the index closes below C, which happens at D. It means the index will continue lower. And it has.

At E, the index forms a falling wedge with an upward breakout. That breakout carries the index skyward, all the way to A.

At F, we see another double top, but it's not as well defined as pattern AB. Even so, the drop to G is a big move.

Will the drop after D be as large as the tumble to the June low?

A drop of that size is possible but I don't think it's likely. The Dow utilities is the best performing index of the five I follow. If the other indices keep dropping, we'll see continue flight to safety: utility stocks.

Having said this, I didn't think the indices would be down this much, this year. So what do I know? Have a good weekend.

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A Brief Look Back

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

Monday: Up 197.26 points.
Tuesday: Down 313.45 points.
Wednesday: Down 522.45 points.
Thursday: Down 107.1 points.
Friday: Down 486.27 points.

For the Week...

The Dow industrials were down 1232.01 points or 4.0%.
The Nasdaq composite was down 580.47 points or 5.1%.
The S&P 500 index was down 180.1 points or 4.6%.

Year to Date...

Dow Industrials
     19.9% down from the high of 36,952.65 on 01/05/2022.
     1.2% up from the low of 29,250.47 on 09/23/2022.
Nasdaq
     31.4% down from the high of 15,852.14 on 01/04/2022.
     2.9% up from the low of 10,565.14 on 06/16/2022.
S&P 500
     23.4% down from the high of 4,818.62 on 01/04/2022.
     1.5% up from the low of 3,636.87 on 06/17/2022.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

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

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  28,894  29,242  29,599  29,947  30,304 
Weekly  28,180  28,885  29,956  30,661  31,732 
Monthly  26,261  27,926  30,915  32,580  35,569 
S&P500 (^GSPC): Daily  3,610  3,651  3,689  3,731  3,769 
Weekly  3,490  3,591  3,749  3,851  4,009 
Monthly  3,250  3,472  3,869  4,091  4,488 
Nasdaq (^IXIC): Daily  10,627  10,748  10,853  10,973  11,079 
Weekly  10,191  10,529  11,071  11,410  11,952 
Monthly  9,360  10,114  11,487  12,240  13,613 

Here are the formulas:

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

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Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 360 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ANF, ACN, AEIS, AMD, AJRD, AES, APD, ATSG, ALK, AA, AMZN, AMED, AEE, AEP, AEL, AXP, AIG, APH, APA, AMAT, ARCB, AWI, ARW, AGO, ADSK, AVY, AVNT, AXS, AZTA, BCPC, BSET, BAX, BERY, BMRN, BA, BKNG, BOOT, BFH, BLDR, BG, CBT, CAL, CE, CX, CNC, CENX, CRL, CVX, CHS, CSCO, CLNE, CLF, CNA, CNO, CTSH, GLW, COST, COTY, CR, CRH, CCK, DHR, DVN, DDS, ^DJU, ^DJT, ^DJI, D, DRQ, DUK, BOOM, EXP, EMN, EIX, EMR, EOG, EQT, EL, XOM, FDS, FICO, FIVN, FLEX, FLS, FMC, FWRD, FCX, FDP, IT, GPN, GS, GGG, EVRG, GFF, GES, HSC, HAYN, HL, HP, HNI, HOV, JBHT, ITW, ILMN, INFN, NSP, INTC, IBKR, IPG, IPI, INTU, ISRG, IVC, JKHY, JAZZ, JBLU, JNJ, KALU, KBH, KBAL, KLAC, KSS, LHX, LZB, LH, LRCX, LAMR, LANC, LEG, LDOS, LEN, L, LXU, MTSI, MAN, MRO, MLM, MA, MTRX, MDT, MLKN, MOS, MLI, MUR, MYGN, NBR, ^IXIC, NFG, NOV, NCR, NTGR, NTAP, NWL, NEE, NKE, JWN, NWPX, OXY, ORI, OLN, OMC, ASGN, OUT, PKG, PATK, PDCO, PTEN, PNW, PLXS, POR, PPL, PRU, PEG, PHM, KWR, RL, RMBS, RGA, RLI, ROK, RES, ^GSPC, SEE, SEIC, SRE, NOW, SLGN, SKX, SO, SCCO, LUV, SWN, SSYS, SUM, SNPS, TPR, TDOC, TFX, TEVA, TKR, TJX, TOL, TSCO, RIG, TZOO, TREX, SLCA, UGI, UPS, VFC, VMI, VRSN, V, VC, WMT, WSO, WLK, WEX, WMB, WSM, WOLF, WWW, XEL, ZBRA, ITA, IYM, IAI, IYK, IYC, IYE, ITB, IEZ, IDU, DDM, FTEC, FDN, QTEC, FXL, FXI, BOTZ, QQQ, IHF, IAT, IYZ, IGV, SOXX, IGE, IEO, IYF, IHI, EWA, EWO, EWK, EWC, ECH, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWM, EWW, EPP, EWS, EZA, EWY, EWP, EWD, EWL, EWT, THD, EWU, QLD, IBB, PPA, DBA, PEJ, PXJ, PHO, ROBO, IEV, IXC, IXN, SSO, MXI, XLY, XLP, XLE, XLF, GLD, XHB, XLI, XLB, XRT, SPY, XAR, XLK, XLU, UNG, SMH, VHT, 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 below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Short ETFs1. Natural Gas (Diversified)
2. Food Processing2. Short ETFs
3. Natural Gas (Diversified)3. Petroleum (Integrated)
4. Electric Utility (Central)4. Food Processing
5. Electric Utility (East)5. Petroleum (Producing)
6. Electric Utility (West)6. Chemical (Diversified)
7. Natural Gas (Distributor)7. Electric Utility (Central)
8. Household Products8. Natural Gas (Distributor)
9. Metal Fabricating9. Electric Utility (East)
10. Petroleum (Integrated)10. Electric Utility (West)
Best Performing AboveWorst Performing Below
50. Diversified Co.50. Advertising
51. Apparel51. Apparel
52. Air Transport52. Homebuilding
53. Advertising53. Air Transport
54. Metals and Mining (Div.)54. Diversified Co.
55. Internet55. Semiconductor Cap Equip.
56. Computers and Peripherals56. Semiconductor
57. E-Commerce57. Trucking/Transp. Leasing
58. Semiconductor Cap Equip.58. Computers and Peripherals
59. Semiconductor59. Toiletries/Cosmetics
60. Oilfield Svcs/Equipment60. E-Commerce

-- Thomas Bulkowski

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Friday 9/23/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 265 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ACN, AEIS, AMD, AJRD, AES, AFL, ALRM, ALK, DOX, AMED, AEE, AEP, AIG, APH, AON, APA, AMAT, ATR, AWI, ARW, ADSK, AVY, AZTA, BMI, BCPC, BALL, BECN, BZH, BBBY, BBY, BIO, BMRN, BA, BKNG, BFH, BMY, BG, CACI, CAL, CE, CX, CNC, CF, CRL, CHKP, CSCO, CTXS, CLF, CMTL, CR, CROX, CTS, DHR, DECK, XRAY, DDS, ^DJT, D, DUK, EPAM, EFX, EL, EXPD, FDS, FICO, FIVN, FLEX, FORM, FTNT, FWRD, IT, GNW, GPRO, GGG, EVRG, GFF, HAYN, HNI, HD, DHI, IDXX, ITW, ILMN, INCY, INFN, NSP, IBP, IIIN, IPG, INTU, ISRG, IVC, NVTA, JKHY, KBH, KMB, KLAC, LHX, LZB, LH, LRCX, LEG, LDOS, LLY, LNC, RAMP, MHO, MTSI, M, MAN, MAS, MA, MTRX, MDC, MDT, MRK, MLKN, MLI, MUR, MYGN, ^IXIC, NFG, NCR, NTGR, NTAP, NEE, JWN, ASGN, OUT, PAYX, PNW, PLXS, PPG, PFG, PEG, PHM, KWR, RJF, RLI, RHI, ROK, RES, CRM, SCHW, SEE, SRE, SMTC, NOW, SHW, LUV, SNPS, TGT, TDOC, TFX, TPX, TEVA, TXN, TKR, TSCO, TZOO, TG, TREX, SLCA, UGI, UPS, VFC, VEEV, VC, WAT, WSO, WEX, WOLF, WWW, XEL, ZBRA, ITA, IYC, IYE, ITB, IHE, FTEC, QTEC, FXL, FXI, QQQ, IHF, IYZ, IGV, SOXX, IGE, IHI, EWO, ECH, EWH, EIS, EWJ, EWM, EWW, EWY, EWP, EWD, EWL, EWT, QLD, IBB, PPA, PBE, PXJ, PHO, IXN, XLY, XHB, XLI, XLB, XAR, UNG, SMH, VHT, VIS, MGK. Clink this link for details (pattern type, start and end dates).

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

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ABTPipe top      09/06/202209/12/2022Medical Supplies
AESPipe top      09/06/202209/12/2022Electric Utility (East)
ALRMPipe top      09/06/202209/12/2022Computer Software and Svcs
AMEDDouble Top, Eve and Adam      08/26/202209/12/2022Medical Services
AEOTriangle, symmetrical      09/12/202209/22/2022Apparel
AEPDouble Top, Eve and Eve      08/18/202209/12/2022Electric Utility (Central)
AONHead-and-shoulders top      07/29/202209/12/2022Insurance (Diversified)
ACGLDouble Top, Adam and Eve      08/18/202209/15/2022Insurance (Prop/Casualty)
ADMBroadening top      08/22/202209/19/2022Food Processing
AGODouble Top, Eve and Adam      08/16/202209/12/2022Insurance (Life)
BCPCHead-and-shoulders top      08/01/202209/12/2022Chemical (Specialty)
BBYHead-and-shoulders top      07/22/202209/12/2022Retail (Special Lines)
CALDiamond bottom      08/31/202209/22/2022Shoe
CENXThree Falling Peaks      08/11/202209/12/2022Metals and Mining (Div.)
CFPipe top      08/22/202208/29/2022Chemical (Basic)
CHKPThree Falling Peaks      08/16/202209/12/2022E-Commerce
CCKPipe top      09/06/202209/12/2022Packaging and Container
DHRPipe top      09/12/202209/12/2022Precision Instrument
DVNPipe top      08/22/202208/29/2022Natural Gas (Diversified)
^DJUDouble Top, Adam and Adam      08/18/202209/12/2022None
DTEDouble Top, Eve and Eve      08/16/202209/12/2022Electric Utility (Central)
DUKHead-and-shoulders top      08/04/202209/12/2022Electric Utility (East)
EMNHead-and-shoulders top      07/28/202209/12/2022Chemical (Diversified)
FDSTriple top      08/18/202209/12/2022Information Services
FDXDead-cat bounce      09/16/202209/16/2022Air Transport
FISVHead-and-shoulders top      08/03/202209/12/2022IT Services
FLEXBig M      08/18/202209/12/2022Electronics
FMCHead-and-shoulders top      08/16/202209/09/2022Chemical (Basic)
ITDouble Top, Eve and Eve      08/16/202209/12/2022IT Services
GDTriangle, symmetrical      08/26/202209/22/2022Aerospace/Defense
GPNDouble Top, Eve and Eve      08/16/202209/12/2022Computer Software and Svcs
IPIPipe top      08/22/202208/29/2022Chemical (Diversified)
JNJDouble Bottom, Eve and Adam      08/31/202209/13/2022Medical Supplies
LHPipe top      09/06/202209/12/2022Medical Services
MURDouble Top, Adam and Eve      08/29/202209/14/2022Petroleum (Integrated)
NBRPipe top      08/22/202208/29/2022Oilfield Svcs/Equipment
NCRDead-cat bounce      09/16/202209/16/2022IT Services
NEEDouble Top, Eve and Eve      08/16/202209/08/2022Electric Utility (East)
OUTDouble Top, Eve and Adam      08/16/202209/12/2022Advertising
PTENPipe top      07/25/202208/01/2022Oilfield Svcs/Equipment
PGRDouble Top, Adam and Eve      08/18/202209/12/2022Insurance (Prop/Casualty)
PRUHead-and-shoulders top      07/29/202209/12/2022Insurance (Life)
ROKPipe top      09/06/202209/12/2022Diversified Co.
SLBTriangle, symmetrical      08/17/202209/22/2022Oilfield Svcs/Equipment
NOWPipe top      09/06/202209/12/2022IT Services
SODouble Top, Adam and Eve      08/19/202209/12/2022Electric Utility (East)
SWNDouble Top, Adam and Adam      08/23/202209/14/2022Natural Gas (Diversified)
TFXPipe top      09/06/202209/12/2022Diversified Co.
VMIDouble Top, Eve and Adam      08/16/202209/12/2022Metal Fabricating
WMBHead-and-shoulders top      07/29/202209/12/2022Natural Gas (Distributor)
IHIPipe top      09/06/202209/12/2022Medical Supplies

 

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Thursday 9/22/22. Intraday Market Direction: Nasdaq

The Nasdaq dropped by -1.8% or -204.86 points. Since 02/05/1971 the Nasdaq made 59 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.9% on 24 occasions.
     Average loss was -1.4% on 35 occasions.
Expect the Nasdaq to close lower 59.3% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 245/432 or 56.7% of the time.
     The prediction of the Nasdaq closing lower has been right 65/137 or 47.4% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

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

I was chatting on the phone today with a friend about the markets and the FED meeting. I thought we'd close higher today based on what typically happens after a FED meeting. Usually, the markets rise. However, I cautioned that once you recognize a pattern, it often fails. And that's what we see today.

At A, the index looked as if the index would indeed close higher, but the index tumbled instead. Sigh. The good news is that bear markets or significant dips in price present wonderful buying opportunities if you're willing to hold for a few years.

$ $ $

Here's a symbol list of 166 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, ANF, AJRD, AFL, ALRM, ALK, AA, ALKS, AEP, AON, APA, APOG, AMAT, ADM, AWI, ARW, ASH, BALL, BSET, BMRN, BA, BKNG, BAH, BFH, CACI, CE, CNC, CF, CRL, CVX, CTXS, CLF, CTSH, COTY, CROX, CTS, DHR, DECK, DDS, D, DUK, BOOM, EBAY, EL, EZPW, FIS, FLEX, FMC, FTNT, GME, GE, GNW, GPRO, GGG, EVRG, HAYN, DHI, IDXX, ITW, INCY, ITGR, IPG, IPI, IVC, NVTA, JBLU, LH, LDOS, LLY, LNC, MRO, MCHX, MLM, MA, MTRX, MDC, META, MSFT, MLI, MUR, MYGN, NFG, NTGR, NTAP, NEE, OXY, OUT, PANW, PETS, PNW, PFG, PG, PHM, ROG, SCHW, NOW, SCCO, SWN, SCS, SNPS, TECH, TFX, TXN, TSCO, TZOO, TG, TREX, VRTX, V, VMC, WSO, WOLF, XEL, ITA, FTEC, FXI, QQQ, SLV, IEO, IHI, EWO, EWK, ECH, EWQ, EWG, EIS, EZA, EWP, EWL, THD, QLD, IBB, PJP, PHO, ROBO, IXN, XLP, XLF, XHB, XRT, XAR, XLK, UNG, 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.

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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

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  10,041.90    
 Monthly S1  10,631.04  589.15   
 Weekly S2  10,649.16  18.12   Yes! The Weekly S2 is close to the Monthly S1.
 Weekly S1  10,934.68  285.51   
 Daily S2  10,956.34  21.66   Yes! The Daily S2 is close to the Weekly S1.
 Daily S1  11,088.26  131.93   
 Low  11,218.99  130.73   
 Close  11,220.19  1.20   Yes! The Close is close to the Low.
 Daily Pivot  11,350.92  130.73   
 61.8% Down from Intraday High  11,369.72  18.80   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 50% Down from Intraday High  11,416.28  46.56   
 38.2% Down from Intraday High  11,462.84  46.56   
 Open  11,466.21  3.37   Yes! The Open is close to the 38.2% Down from Intraday High.
 Daily R1  11,482.84  16.63   Yes! The Daily R1 is close to the Open.
 Weekly Pivot  11,602.43  119.59   
 High  11,613.57  11.14   Yes! The High is close to the Weekly Pivot.
 Daily R2  11,745.50  131.93   
 Weekly R1  11,887.95  142.45   
 Monthly Pivot  11,906.07  18.12   Yes! The Monthly Pivot is close to the Weekly R1.
 Monthly R1  12,495.21  589.15   
 Weekly R2  12,555.70  60.49   
 Monthly R2  13,770.24  1,214.53   

Wednesday 9/21/22. A Look At Indicators

Picture of the chart pattern indicator

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

The indicator turned bearish about a week ago, near the peak in September. That signal represented good timing as the red bar on the far right of the chart shows.

The blue indicator line at the bottom of the chart remains near 0, which is bearish. However, I expect a rebound in the index and the indicator soon, perhaps starting with the FED meeting.

Picture of the percent down indicators

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

Shown as a red line on the above chart...
On Tuesday, 65% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 60%.
The fewest was 21% on 11/12/2021.
And the most was 79% on 06/17/2022.
Shown as a blue line on the above chart...
The 452 stocks in my database are down an average of 30% from their yearly high.
A week ago, the average was 28%.
The peak was 12% on 11/08/2021.
And the bottom was 33% on 06/16/2022.

Both the red and blue lines show continued deterioration from a week ago.

Unfortunately, the chart doesn't tell us what will happen. In fact, it doesn't give us a strong hint, either. It's bearish, sure. But for how long?

The two charts are bearish. A month ago I suggested that the flat CPI line suggested a rebound. We see that same pattern emerging now. So I'll be bold and say the markets will move higher, perhaps starting with tomorrow's (Wednesday's close).

$ $ $

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: ABT, ALRM, AEE, AEO, AEP, APH, ANIK, AON, APA, AAPL, AGO, BALL, CALM, CE, CX, CNC, CF, CRL, CIEN, CLF, CNO, CMTL, CR, CRH, DHR, DDS, D, DUK, EBAY, RE, EXC, FLEX, FCX, GME, EVRG, HURC, ITW, IVC, LH, LAMR, LEG, LLY, MCHX, MU, MLI, MUR, MYGN, NTGR, NTAP, NWL, NEE, OMC, OUT, OXM, PRFT, PETS, PNW, PFG, PEG, RL, NOW, SHW, SCCO, SUM, TPR, TFX, TSCO, SLCA, UNM, VC, WOLF, XEL, SLV, IHI, EWO, EWK, EWQ, EWG, EIS, EWI, EWP, EWD, EWL, THD, EWU, IBB, PHO, SSO, XLF, XHB, XRT, VHT. Clink this link for details (pattern type, start and end dates).

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

-- Thomas Bulkowski

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Tuesday 9/20/22. Slider Trading Quiz! Standard Pacific: SPF

The Dow climbed by 0.6% or 197.26 points. Since 10/01/1928 the Dow made 885 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 499 occasions.
     Average loss was -0.6% on 386 occasions.
Expect the Dow to close higher 56.4% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 250/450 or 55.6% of the time.
     The prediction of the Dow closing lower has been right 48/99 or 48.5% of the time.

$ $ $

I show another slider trading quiz featuring Standard Pacific: SPF, support and resistance stock.

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Here's a symbol list of 226 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AYI, AES, ATSG, ALL, AEE, AEP, AFG, AMWD, AMN, AON, ATR, ARCB, ACGL, AWI, ARW, AGO, ADP, AVA, AXS, BMI, BCPC, BZH, BIO, BKNG, BAH, BG, CLS, CX, CRL, CHS, CTXS, CLNE, CNA, CNO, CMTL, CONN, COP, COTY, CROX, CCK, CTS, DECK, DDS, D, DRQ, DUK, EXP, EBAY, RE, EXC, FIS, FLEX, FLS, FORM, FTNT, FCX, FDP, GPS, IT, GD, EVRG, THG, HSC, HAYN, HQY, HTLD, HL, HSII, DHI, HURC, IEX, IDXX, ILMN, INCY, NSP, IBP, ITGR, INTC, IPAR, IPG, ISRG, JBLU, KALU, KBH, KMT, KFRC, LZB, LANC, LEG, LEN, LLY, RAMP, L, MHO, MTSI, MAN, MRTN, MTRN, MDC, MGEE, MLI, NTAP, NJR, JWN, NWPX, NUS, NVDA, ORI, ASGN, OTEX, OMI, OXM, PNW, PLXS, PINC, PFG, PGR, PEG, PHM, KWR, DGX, RL, RMBS, RJF, RGS, RGA, RLI, RHI, SCHW, SAIC, SEE, SEIC, SIGI, SLGN, SKX, SCCO, SXI, SUM, TECH, TFX, TPX, TOL, TSCO, TG, UNM, VMI, WRB, WAT, WSO, WOLF, WWW, ITA, IAI, IYC, IYE, IHE, DDM, FTEC, QTEC, FXL, IAT, SLV, IGE, IYF, EWO, EWK, EWQ, EWG, EWH, EIS, EWI, EWJ, EWP, EWD, EWL, THD, TUR, EWU, PPA, PEJ, PHO, ROBO, IEV, IXC, IXN, SSO, XLP, XLF, XLI, XAR, VHT, 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.

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

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  28,219.09    
 Weekly S2  29,403.97  1,184.88   
 Monthly S1  29,619.39  215.41   
 Weekly S1  30,211.83  592.44   
 Daily S2  30,401.13  189.30   
 Low  30,559.37  158.24   
 Daily S1  30,710.40  151.04   
 Open  30,722.86  12.46   Yes! The Open is close to the Daily S1.
 61.8% Down from Intraday High  30,737.96  15.10   Yes! The 61.8% Down from Intraday High is close to the Open.
 50% Down from Intraday High  30,793.13  55.17   
 38.2% Down from Intraday High  30,848.30  55.17   
 Daily Pivot  30,868.65  20.35   Yes! The Daily Pivot is close to the 38.2% Down from Intraday High.
 Close  31,019.68  151.03   
 High  31,026.89  7.21   Yes! The High is close to the Close.
 Daily R1  31,177.92  151.03   
 Daily R2  31,336.17  158.24   
 Weekly Pivot  31,357.93  21.77   Yes! The Weekly Pivot is close to the Daily R2.
 Monthly Pivot  31,950.37  592.44   
 Weekly R1  32,165.79  215.41   
 Weekly R2  33,311.89  1,146.11   
 Monthly R1  33,350.67  38.77   Yes! The Monthly R1 is close to the Weekly R2.
 Monthly R2  35,681.65  2,330.98   

Monday 9/19/22. Market Monday: The Week Ahead

My Prediction

Picture of the S and P on the daily scale.

I show the S&P 500 index on the daily scale. Not much has happened on this chart.

I drew a red up-sloping trendline. It touched valley A, dips below it for one price bar before recovering.

At B, we see a hammer candlestick, which is supposed to "hammer" out a bottom. However, my tests reveal it works 60% of the time as a bullish reversal (meaning price turns upward). Compared to all 103 candles, where 1 is best, it places 65th.

I drew line C from B to the left to help show where support might be.

What does all of this mean? Hard to tell. The hammer suggests an upward move will happen. Clearly, the strong move down during the past week, price will retrace that down move. It could happen on Monday or the down move might continue.

I think you'll see the index move higher after the FED meeting ends this coming week.

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A Brief Look Back

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

Monday: Up 229.63 points.
Tuesday: Down 1276.37 points.
Wednesday: Up 30.12 points.
Thursday: Down 173.27 points.
Friday: Down 139.4 points.

For the Week...

The Dow industrials were down 1329.29 points or 4.1%.
The Nasdaq composite was down 663.91 points or 5.5%.
The S&P 500 index was down 194.03 points or 4.8%.

Year to Date...

Dow Industrials
     16.6% down from the high of 36,952.65 on 01/05/2022.
     3.9% up from the low of 29,653.29 on 06/17/2022.
Nasdaq
     27.8% down from the high of 15,852.14 on 01/04/2022.
     8.4% up from the low of 10,565.14 on 06/16/2022.
S&P 500
     19.6% down from the high of 4,818.62 on 01/04/2022.
     6.5% up from the low of 3,636.87 on 06/17/2022.

Options Expiration

No options expire this week.

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Swing Traders: Pivot Points

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

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  30,430  30,626  30,746  30,943  31,063 
Weekly  29,338  30,080  31,292  32,034  33,246 
Monthly  28,153  29,488  31,885  33,219  35,616 
S&P500 (^GSPC): Daily  3,820  3,847  3,864  3,890  3,908 
Weekly  3,661  3,767  3,943  4,049  4,225 
Monthly  3,524  3,699  4,012  4,187  4,500 
Nasdaq (^IXIC): Daily  11,265  11,357  11,409  11,500  11,552 
Weekly  10,725  11,087  11,679  12,040  12,632 
Monthly  10,118  10,783  11,982  12,647  13,846 

Here are the formulas:

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

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Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 261 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, AYI, ADBE, ALRM, ALK, ALKS, ALL, AMZN, DOX, AMED, AEE, AXP, APH, APOG, AAPL, ARCB, ARW, AGO, ADSK, AVY, AVNT, AZTA, BMI, BCPC, BALL, BZH, BERY, BIO, BIIB, BA, BKNG, BFH, BLDR, BG, CBT, CE, CLS, CRL, CHS, CINF, CSCO, CNO, CTSH, CMTL, COP, GLW, CR, CW, DDS, ^DJT, ^DJI, D, DUK, EXP, EMN, EBAY, EMR, EPAM, EFX, EQT, EL, EXPD, EZPW, FFIV, FICO, FDX, FIS, FISV, FIVN, FLEX, FLS, FMC, FWRD, FCX, GE, GPRO, GGG, EVRG, GFF, HAYN, HQY, HTLD, HP, HUBG, JBHT, HURC, IDA, IEX, IDXX, TILE, IPG, IPI, ISRG, NVTA, KALU, KMT, KLIC, LAMR, LEG, L, MHO, MTSI, MANH, MAN, MDC, META, MU, MS, MOS, MLI, MYGN, ^IXIC, NFG, NOV, NCR, NTGR, NTAP, NWL, NWPX, OLN, PKG, PANW, PTEN, PAYX, PNW, PLXS, POR, PPG, PFG, PGR, PEG, KWR, QCOM, RL, RJF, RHI, ^GSPC, SAIA, CRM, SCHW, SEE, SEIC, SHW, SKX, SCCO, LUV, SWN, SXI, SCS, SUM, TPR, TECH, TEVA, TXT, TKR, UPS, UNM, VFC, V, WAT, WSO, WERN, WMB, WOLF, ITA, IYM, IAI, IYK, IYC, ITB, DDM, FTEC, FDN, QTEC, FXL, FXI, BOTZ, IYH, IYZ, IGV, SLV, IYF, EWA, EWO, EWZ, EWC, EEM, EWQ, EWG, EIS, EWM, EWW, EZA, EWP, EWD, EWL, EWT, THD, QLD, PPA, PEJ, PHO, ROBO, IEV, ILF, SSO, MXI, XLY, XLP, XLF, XHB, XLI, XLB, SPY, XAR, UNG, USO, VHT, 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 below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Natural Gas (Diversified)1. Natural Gas (Diversified)
2. Short ETFs2. Chemical (Diversified)
3. Petroleum (Integrated)3. Food Processing
4. Food Processing4. Electric Utility (Central)
5. Petroleum (Producing)5. Petroleum (Integrated)
6. Chemical (Diversified)6. Metal Fabricating
7. Electric Utility (Central)7. Electric Utility (East)
8. Natural Gas (Distributor)8. Shoe
9. Electric Utility (East)9. Petroleum (Producing)
10. Electric Utility (West)10. Natural Gas (Distributor)
Best Performing AboveWorst Performing Below
50. Advertising50. Advertising
51. Apparel51. Trucking/Transp. Leasing
52. Homebuilding52. Computers and Peripherals
53. Air Transport53. Semiconductor
54. Diversified Co.54. Diversified Co.
55. Semiconductor Cap Equip.55. Telecom. Equipment
56. Semiconductor56. Metals and Mining (Div.)
57. Trucking/Transp. Leasing57. Homebuilding
58. Computers and Peripherals58. E-Commerce
59. Toiletries/Cosmetics59. Toiletries/Cosmetics
60. E-Commerce60. Oilfield Svcs/Equipment

-- Thomas Bulkowski

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Friday 9/16/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 138 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADBE, ADTN, ALK, AA, ALL, AEE, AEP, AXP, APA, ACGL, ASH, AGO, ADSK, AVNT, BMI, BCPC, BALL, BSET, BBY, BKNG, BAH, BBW, CBT, CALM, CLF, CLX, CNO, CL, CMCO, CMTL, CONN, CCRN, CSGS, DDS, D, DOV, DUK, EPAM, EQT, FLEX, FLS, FMC, FCX, FDP, GIS, EVRG, GFF, HE, HAYN, HQY, HL, HP, HUBG, HURC, IDA, IEX, ITGR, ISRG, JKHY, KALU, K, KMT, KLIC, LANC, LDOS, MTSI, MTRN, MS, NTAP, NEE, NI, OLN, OUT, PETS, PNW, POR, PFG, PGR, PEG, RL, RJF, RHI, RCKY, ROG, CRM, SCHW, SRE, SKX, SCCO, SWN, SCS, TFX, RIG, UGI, UNM, VLO, VMI, WOLF, XEL, IYM, IYK, DDM, FTEC, ICF, SLV, EWO, EWC, ECH, EIS, EWM, EWW, EWY, EWP, THD, QLD, SSO, XLY, XLP, GLD, XLI, XLB, XLK, USO, VAW. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ALBBroadening top      08/15/202209/14/2022Chemical (Diversified)
AAHead-and-shoulders top      08/11/202209/12/2022Aerospace/Defense
ANIKDiamond bottom      08/30/202209/15/2022Biotechnology
BAHHead-and-shoulders top      08/01/202209/12/2022IT Services
CAGHead-and-shoulders complex top      08/01/202209/12/2022Food Processing
CROXBroadening top      08/16/202209/12/2022Shoe
^DJUThree Rising Valleys      06/17/202209/01/2022None
DHead-and-shoulders top      08/04/202209/12/2022Electric Utility (East)
EBAYBroadening bottom      08/29/202209/14/2022Internet
ELVBroadening bottom      08/26/202209/14/2022Medical Services
EXCHead-and-shoulders top      07/29/202209/12/2022Electric Utility (East)
FERising wedge      07/29/202209/15/2022Electric Utility (East)
HSCBroadening wedge, descending      08/11/202209/12/2022Diversified Co.
HQYRounding bottom      06/21/202209/15/2022Healthcare Information
HPTriangle, ascending      07/29/202209/14/2022Petroleum (Producing)
IDAHead-and-shoulders top      08/01/202209/12/2022Electric Utility (West)
KFRCDouble Bottom, Adam and Eve      08/11/202209/01/2022Human Resources
LHXThree Falling Peaks      08/02/202208/26/2022Aerospace/Defense
LLYTriangle, symmetrical      07/28/202209/15/2022Drug
MANDiamond bottom      09/01/202209/15/2022Human Resources
MTRXHead-and-shoulders top      08/12/202209/12/2022Oilfield Svcs/Equipment
NFGBroadening bottom      09/06/202209/15/2022Natural Gas (Diversified)
NIHead-and-shoulders top      08/01/202209/12/2022Electric Utility (Central)
PNWDouble Top, Eve and Adam      08/16/202209/12/2022Electric Utility (West)
SKXHead-and-shoulders top      08/08/202208/25/2022Shoe
SCSDouble Top, Adam and Adam      08/16/202208/26/2022Furn/Home Furnishings
SLCADiamond bottom      09/01/202209/15/2022Metals and Mining (Div.)
UNMPipe bottom      08/29/202209/06/2022Insurance (Diversified)
WOLFCup with handle      04/20/202209/15/2022Semiconductor
XELDouble Top, Eve and Eve      08/18/202209/12/2022Electric Utility (West)
FDNPipe bottom      06/25/201807/02/2018Internet

 

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Thursday 9/15/22. Bitcoin Cryptocurrency

The Nasdaq climbed by 0.7% or 86.11 points. Since 02/05/1971 the Nasdaq made 444 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.7% on 270 occasions.
     Average loss was -0.8% on 174 occasions.
Expect the Nasdaq to close higher 60.8% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 245/431 or 56.8% of the time.
     The prediction of the Nasdaq closing lower has been right 65/137 or 47.4% of the time.

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

Picture of bitcoin.

$ $ $

I show a picture of the cryptocurrency bitcoin.

The currency shows some movement beginning with a rising wedge at A. The two converging lines show the wedge shape. The breakout from a rising wedge is often downward, as in this case (the drop to C).

At C, outlined in blue, is a descending triangle. This chart pattern also has two converging trendlines but the bottom one is horizontal. In this example, the currency breaks out downward. However, the coin doesn't drop far before reversing and busting the downward breakout. As you can see, the upward move turned into a strong push higher.

Recently, the coin threw back (B) to the triangle's apex (which is common). It suggests the upward move will resume soon.

$ $ $

Here's a symbol list of 344 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ANF, ACN, AYI, AES, AFL, APD, AKAM, AA, DOX, AMED, AXP, AMWD, ABC, APH, AON, APA, APOG, AMAT, ATR, AWI, ARW, AIZ, AGO, ADSK, ADP, AVY, AVNT, AXS, BMI, BALL, BSET, BECN, BZH, BERY, BBY, BIG, BIO, BIIB, BKNG, BOOT, BRC, BFH, BMY, BLDR, CBT, CDNS, CAL, CPB, CE, CX, CENX, CRL, CHKP, CHS, CSCO, CLF, CNA, CNO, CGNX, CTSH, CMTL, CONN, COST, CR, CRH, CCRN, CCK, CTS, DECK, XRAY, DDS, ^DJT, ^DJI, DRQ, BOOM, EXP, EMN, EBAY, ELV, EMR, EPAM, EFX, EQT, EVH, EZPW, FFIV, FICO, FAST, FIVN, FLEX, FLS, FMC, FORM, FTNT, FCX, FDP, GPS, GE, GPN, GL, GS, GGG, GFF, GES, HSC, HIG, HL, HELE, HP, HSIC, HNI, HOLX, HD, HON, DHI, HUBG, HURC, ITW, ILMN, INCY, IBP, IIIN, ITGR, INTC, IPI, ISRG, JKHY, JBLU, JNJ, KALU, KBH, K, KMT, KFRC, KBAL, KLAC, KSS, KLIC, LZB, LH, LRCX, LAMR, LEG, LEN, LNC, LOW, MHO, MTSI, M, MAN, MLM, MAS, MA, MDC, MDT, MRK, META, MU, MSFT, MLKN, MCO, MS, MYGN, NBR, NCR, NTAP, NJR, NWL, NXGN, JWN, NWPX, NUS, NVDA, ORI, OLN, OMC, ASGN, OTEX, OMI, OXM, PKG, PANW, PDCO, PAYX, PRFT, PFE, POR, PPG, PFG, PRU, PEG, PHM, KWR, DGX, RL, RJF, RGA, RLI, RCKY, ROST, SAIA, CRM, SCHW, SMG, SEE, SEIC, SMTC, SHW, SKX, SCCO, SWN, SXI, SCS, SUM, SRDX, SNPS, TPR, TGT, TECH, TDC, TER, TEVA, TJX, TOL, TSCO, TREX, SLCA, UPS, UNM, VFC, VMI, VRSN, V, VMC, WAT, WSO, WU, WLK, WSM, WOLF, WWW, WDAY, ITA, IYM, IAI, IYK, ITB, DDM, FTEC, FXL, ICF, IYH, IHF, IAT, IYZ, IGV, SLV, IYF, IHI, EWA, EWO, EWK, EWC, EEM, EWH, EIS, EWJ, EWM, EWW, EPP, EWS, EWP, EWD, EWL, EWT, THD, PPA, PXJ, PHO, ILF, MXI, XLY, XLP, XLF, GLD, XLV, XHB, XLI, XLB, XRT, XLK, UNG, VHT, VIS, VAW. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  10,414.50    
 Monthly S1  11,067.09  652.59   
 Weekly S2  11,113.45  46.36   
 Weekly S1  11,416.56  303.12   
 Daily S2  11,545.69  129.12   
 Low  11,602.76  57.07   
 Daily S1  11,632.68  29.92   
 61.8% Down from Intraday High  11,657.79  25.11   
 50% Down from Intraday High  11,674.79  17.00   
 Open  11,680.41  5.62   Yes! The Open is close to the 50% Down from Intraday High.
 Daily Pivot  11,689.76  9.35   Yes! The Daily Pivot is close to the Open.
 38.2% Down from Intraday High  11,691.79  2.04   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  11,719.68  27.88   
 High  11,746.83  27.15   
 Weekly Pivot  11,774.62  27.79   
 Daily R1  11,776.75  2.14   Yes! The Daily R1 is close to the Weekly Pivot.
 Daily R2  11,833.83  57.07   
 Weekly R1  12,077.73  243.91   
 Monthly Pivot  12,124.09  46.36   
 Weekly R2  12,435.79  311.70   
 Monthly R1  12,776.68  340.89   
 Monthly R2  13,833.68  1,057.00   

Wednesday 9/14/22. A Look At Indicators

Picture of the chart pattern indicator

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

As one would expect, the chart pattern indicator turned bearish because the stocks I follow tumbled. That flipped the indicator from bullish (green line) to neutral (white bar) and on to a red bar (bearish). You can see that on the far right of the chart.

Because the indicator bars cover the thin blue CPI line at the bottom of the chart, we can't see what happened with the indicator today. However, the signal reached 2.9%, which is near the 0% bottom and well below the 35% neutral zone.

My gut feeling is that we'll continue lower for a few days and maybe stage a rebound when the FED meets next week.

Picture of the percent down indicators

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

Shown as a red line on the above chart...
On Tuesday, 60% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 64%.
The fewest was 21% on 11/12/2021.
And the most was 79% on 06/17/2022.
Shown as a blue line on the above chart...
The 452 stocks in my database are down an average of 28% from their yearly high.
A week ago, the average was 29%.
The peak was 12% on 11/08/2021.
And the bottom was 33% on 06/16/2022.

Both the red and blue lines are worse this week compared to a week ago. That's no surprise given the large drop today (Tuesday, Dow industrials dropped almost 1,300 points or 3.9%. The Nasdaq dropped 5.2%).

Even though both charts are bearish, I still believe that this is a temporary setback. I'm going to bottom fish to see if I can find an industry I don't already own that shows a rebound promise. In short, I'm buying the dip.

$ $ $

Here's a symbol list of 263 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AYI, ADBE, AEIS, AMD, AFL, APD, AKAM, AA, AMZN, DOX, AMED, AXP, ABC, AMGN, APH, APOG, AMAT, ATR, ADM, AWI, ASH, AGO, ADSK, AVY, AZTA, BMI, BCPC, BALL, BSET, BECN, BERY, BBY, BIO, BKNG, BOOT, BFH, BLDR, CBT, CDNS, CE, CLS, CENX, CHKP, CINF, CSCO, CTXS, CLNE, CNO, CGNX, CTSH, CMCO, CMTL, COST, CR, CMI, XRAY, DDS, DFS, DRQ, BOOM, EXP, EMN, EMR, EPAM, EFX, EQT, FFIV, FICO, FAST, FLEX, FLS, FMC, FORM, FCX, GPS, GD, GE, GIS, GGG, GFF, HBI, HSC, HL, HP, HSIC, HNI, HD, DHI, HOV, JBHT, HURC, INCY, IBP, IIIN, ITGR, IPAR, IPG, INTU, ISRG, JKHY, JBLU, KALU, KBH, K, KMT, KLAC, KLIC, LRCX, LAMR, LEG, LEN, LLY, RAMP, LOW, MHO, MTSI, M, MANH, MAN, MA, MDC, MRK, MU, MSFT, MLKN, MCO, MS, MOS, MYGN, NFG, NJR, NWL, NKE, NWPX, ORI, OLN, OMCL, OMC, ASGN, PKE, PDCO, PAYX, POR, PPL, PFG, PRU, PEG, PHM, KWR, QCOM, RL, RMBS, RJF, RLI, RCKY, CRM, SCHW, SEE, SKX, SCCO, SWN, SCS, SUM, SRDX, SNPS, TPR, TECH, TER, TEVA, TXN, TXT, TMO, TOL, TZOO, TREX, UNM, VMI, VRSN, V, WSO, WU, WLK, WEX, WOLF, WWW, ZBRA, ITA, IYM, IAI, IYC, ITB, IHE, DDM, FTEC, FDN, QTEC, FXL, BOTZ, QQQ, ICF, IGV, SOXX, SLV, IYF, EWA, EWO, EWC, EWQ, EWM, EWW, EZA, EWP, EWD, EWL, EWT, EWU, QLD, PPA, PEJ, PHO, ROBO, IEV, IXN, SSO, MXI, XLY, XLP, XLF, XHB, XLI, XLB, XRT, SPY, XAR, XLK, SMH, 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.

-- Thomas Bulkowski

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Tuesday 9/13/22. Slider Trading Quiz! Southern Peru Copper: PCU

The Dow climbed by 0.7% or 229.63 points. Since 10/01/1928 the Dow made 702 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.6% on 384 occasions.
     Average loss was -0.6% on 318 occasions.
Expect the Dow to close higher 54.7% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 250/449 or 55.7% of the time.
     The prediction of the Dow closing lower has been right 48/99 or 48.5% of the time.

$ $ $

I show another slider trading quiz featuring Southern Peru Copper: PCU stock (support and resistance).

$ $ $

Here's a symbol list of 205 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, ACN, ACIW, AYI, AES, APD, AYX, AMZN, AXP, AIG, AMN, APA, ARCB, ADM, ARW, BMI, BSET, BERY, BIO, BIIB, BKNG, BOOT, BMY, CBT, CE, CLS, CX, CENX, CF, CHKP, CVX, CSCO, CLX, CNO, CTSH, CMTL, ED, COP, CRH, XRAY, DDS, DFS, ^DJT, BOOM, EMN, WIRE, EOG, EQT, EXC, FFIV, FAST, FDX, FE, FISV, FLS, FTNT, FDP, GPS, GILD, GFF, HBI, HSC, HAYN, HL, HSIC, HNI, HD, HON, IDXX, INCY, INFN, ITGR, IPAR, IBKR, IPG, IPI, ISRG, JBLU, KALU, KBH, KSS, LAMR, LEG, LEN, LLY, LNC, LXU, MHO, MTSI, MANH, MAN, MTRN, MDT, MLKN, MCO, MS, MOS, ^IXIC, NWPX, OXY, OMC, ASGN, OTEX, OMI, PKG, POR, KWR, RL, RMBS, RHI, ROK, ROST, ^GSPC, SAIA, SAIC, SEIC, SLGN, LUV, SCS, SUM, TPR, TFX, TPX, TER, TEVA, TXT, TOL, UPS, VFC, VRTX, VMC, WU, WOLF, WWW, ZBRA, ITA, IYC, IHE, DDM, FTEC, FDN, FXL, BOTZ, QQQ, SLV, IGE, IEO, EWA, EWO, EWK, EWZ, EWC, EEM, EWQ, EWG, EWH, EIS, EWI, EWM, EWW, EPP, EWS, EZA, EWY, EWP, EWD, EWL, THD, TUR, EWU, QLD, PEJ, PXJ, PHO, ROBO, IEV, IXC, IXN, ILF, SSO, MXI, XLY, XLE, XHB, XLB, XRT, SPY, XLK, USO, VAW, MGK. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  29,337.49    
 Weekly S2  30,706.57  1,369.08   
 Monthly S1  30,859.41  152.85   
 Weekly S1  31,543.95  684.54   
 Weekly Pivot  31,885.85  341.89   
 Daily S2  32,003.74  117.89   
 Low  32,159.49  155.75   
 Open  32,159.49  0.00   Yes! The Open is close to the Low.
 Daily S1  32,192.54  33.05   Yes! The Daily S1 is close to the Open.
 61.8% Down from Intraday High  32,291.11  98.57   
 50% Down from Intraday High  32,331.77  40.66   
 Daily Pivot  32,348.29  16.52   Yes! The Daily Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  32,372.42  24.13   Yes! The 38.2% Down from Intraday High is close to the Daily Pivot.
 Close  32,381.34  8.92   Yes! The Close is close to the 38.2% Down from Intraday High.
 High  32,504.04  122.70   
 Daily R1  32,537.09  33.05   Yes! The Daily R1 is close to the High.
 Monthly Pivot  32,570.39  33.30   Yes! The Monthly Pivot is close to the Daily R1.
 Daily R2  32,692.84  122.45   
 Weekly R1  32,723.23  30.39   Yes! The Weekly R1 is close to the Daily R2.
 Weekly R2  33,065.13  341.89   
 Monthly R1  34,092.31  1,027.19   
 Monthly R2  35,803.29  1,710.97   

Monday 9/12/22. Market Monday: The Week Ahead

My Prediction

Picture of the nasdaq on the daily scale.

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

At ABC, we see a three rising valleys chart pattern. It confirms as a valid chart pattern when the Nasdaq closes above the top of the chart pattern, at D.

Three rising valleys pattern has three valleys that appear similar in shape (all wide or all thin). The three need not follow a trendline, but each succeeding valley must be above the prior one.

A throwback occurs at E, which is typical behavior after a chart pattern breakout. That's when price retraces back to or near to the breakout price. It happens about half the time.

More recently, we see the retrace of the rise AF occur on the drop from F to G. It appears the retrace is over and the index should rise following the green line. That's not a guarantee, but it's what I expect.

About midway up, circled, a knot appears. I would expect the index to stall or even reverse here. I view is as a brief pause in the upward recovery.

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A Brief Look Back

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

Tuesday: Down 173.14 points.
Wednesday: Up 435.98 points.
Thursday: Up 193.24 points.
Friday: Up 377.19 points.
Saturday: Holiday or other weird event!

For the Week...

The Dow industrials were up 833.27 points or 2.7%.
The Nasdaq composite was up 481.45 points or 4.1%.
The S&P 500 index was up 143.1 points or 3.6%.

Year to Date...

Dow Industrials
     13.0% down from the high of 36,952.65 on 01/05/2022.
     8.4% up from the low of 29,653.29 on 06/17/2022.
Nasdaq
     23.6% down from the high of 15,852.14 on 01/04/2022.
     14.6% up from the low of 10,565.14 on 06/16/2022.
S&P 500
     15.6% down from the high of 4,818.62 on 01/04/2022.
     11.8% up from the low of 3,636.87 on 06/17/2022.

Options Expiration

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

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Swing Traders: Pivot Points

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

IndexS2S1PivotR1R2
Dow Industrials (^DJI): Daily  31,734  31,943  32,085  32,294  32,437 
Weekly  30,630  31,391  31,809  32,570  32,989 
Monthly  29,261  30,706  32,494  33,939  35,727 
S&P500 (^GSPC): Daily  4,002  4,035  4,056  4,088  4,110 
Weekly  3,820  3,944  4,010  4,134  4,200 
Monthly  3,655  3,861  4,093  4,300  4,532 
Nasdaq (^IXIC): Daily  11,894  12,003  12,068  12,177  12,242 
Weekly  11,244  11,678  11,905  12,339  12,567 
Monthly  10,545  11,329  12,255  13,038  13,965 

Here are the formulas:

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

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Earnings, Chart Patterns & Industries

Earnings season is over.

Here's a symbol list of 192 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ACN, ADBE, AEIS, AJRD, APD, ALB, ALKS, AYX, AMZN, AXP, AIG, AMWD, ABC, APH, ANIK, AMAT, AXS, AZTA, BMI, BECN, BERY, BBY, BIIB, BKNG, BOOT, BAH, CBT, CDNS, CE, CF, CRL, CVX, CLX, CNA, CNO, CGNX, CTSH, CROX, CTS, CW, XRAY, DDS, ^DJI, D, DTE, EXP, EMR, EFX, EXC, FDS, FLEX, FLS, FMC, FORM, FTNT, FWRD, GME, GPS, IT, GGG, HSC, HQY, HTLD, HOLX, HOV, IEX, IDXX, INFN, IBKR, IPG, IPI, INTU, IVC, NVTA, KALU, KBH, KFRC, KLAC, KSS, LH, LRCX, LEG, LNC, MTSI, MANH, MCHX, MAS, MU, MCO, MS, MOS, ^IXIC, NCR, NXGN, NKE, NWPX, NVDA, OXY, OMC, OXM, PANW, PDCO, PYPL, PFG, PRU, KWR, RL, RJF, RNG, ROK, RCKY, ROG, ^GSPC, SLB, SCHW, NOW, SLGN, TDOC, TFX, TPX, TDC, TER, TXN, TXT, TKR, TREX, SLCA, UGI, VRTX, WERN, WLK, WOLF, ZBRA, ITA, IYM, IAI, IYC, IYE, ITB, IHE, DDM, FTEC, FDN, QTEC, FXL, BOTZ, IYH, IHF, IAT, IGV, SOXX, IGE, IYF, IHI, EWO, EWK, EWJ, EWS, EWP, EWL, THD, TUR, QLD, PPA, PBE, PJP, PHO, ROBO, IXC, IXN, SSO, MXI, XLY, XLE, XLF, XLV, XHB, XLI, XLB, SPY, XAR, XLK, USO, SMH, VHT, 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 below industries were the best (rank 1) or worst performing of those I follow.

This WeekLast Week
1. Natural Gas (Diversified)1. Natural Gas (Diversified)
2. Chemical (Diversified)2. Petroleum (Producing)
3. Food Processing3. Petroleum (Integrated)
4. Electric Utility (Central)4. Electric Utility (Central)
5. Petroleum (Integrated)5. Electric Utility (East)
6. Metal Fabricating6. Food Processing
7. Electric Utility (East)7. Short ETFs
8. Shoe8. Natural Gas (Distributor)
9. Petroleum (Producing)9. Chemical (Diversified)
10. Natural Gas (Distributor)10. Electric Utility (West)
Best Performing AboveWorst Performing Below
50. Advertising50. Computers and Peripherals
51. Trucking/Transp. Leasing51. Semiconductor Cap Equip.
52. Computers and Peripherals52. Advertising
53. Semiconductor53. Diversified Co.
54. Diversified Co.54. Semiconductor
55. Telecom. Equipment55. Medical Supplies
56. Metals and Mining (Div.)56. Apparel
57. Homebuilding57. E-Commerce
58. E-Commerce58. Telecom. Equipment
59. Toiletries/Cosmetics59. Toiletries/Cosmetics
60. Oilfield Svcs/Equipment60. Homebuilding

-- Thomas Bulkowski

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Friday 9/9/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 147 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AJRD, AFL, ALRM, AXP, AIG, ADM, AWI, AGO, ADP, AVY, AZTA, BMI, BECN, BBBY, BBY, BFH, CE, CF, CVX, CTXS, CMCO, CMTL, ED, CRH, CSGS, CTS, XRAY, DDS, DFS, D, EXP, EMN, ELV, EMR, FLEX, FLS, FMC, GPS, IT, GE, GIS, GL, GFF, HIG, HAYN, HSIC, ILMN, INFN, IIIN, IPI, IVC, KBH, K, KELYA, KLIC, LNC, RAMP, L, MHO, M, MNDT, MOS, MYGN, NFG, NCR, NTGR, NKE, NWPX, OXY, OMC, PANW, PDCO, PFE, PFG, PRU, RL, RJF, RGA, RES, CRM, SLB, SCHW, SUM, TECH, TDOC, TXT, TMO, TJX, TOL, TRV, SLCA, UGI, UNM, VMI, VEEV, VMC, WU, WLK, WMB, WOLF, ITA, IYM, IAI, IYC, IYE, IHE, DDM, BOTZ, IAT, IGV, SLV, IGE, IYF, IHI, ECH, EWW, EWS, EWL, TUR, IBB, PPA, PHO, ROBO, IXC, IXN, SSO, MXI, XLY, XLE, XLF, XLV, XLB, SPY, XAR, USO, VAW. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

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 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ADTNDouble Top, Eve and Eve      08/04/202208/19/2022Telecom. Equipment
BAHead-and-shoulders top      08/01/202208/26/2022Aerospace/Defense
CALMDouble Bottom, Adam and Eve      08/23/202209/01/2022Food Processing
CEDouble Top, Eve and Adam      08/16/202208/26/2022Chemical (Basic)
CLFDouble Top, Adam and Adam      08/11/202208/26/2022Metals and Mining (Div.)
REUgly double bottom      08/03/202208/29/2022Insurance (Prop/Casualty)
FCXUgly double bottom      07/14/202208/03/2022Metals and Mining (Div.)
GMEDouble Top, Adam and Adam      08/08/202208/16/2022Retail (Special Lines)
MASDouble Top, Adam and Eve      07/22/202208/18/2022Building Materials
MLKNHead-and-shoulders top      08/08/202208/25/2022Furn/Home Furnishings
NWLPipe bottom      06/13/202206/21/2022Household Products
NOCDouble Top, Eve and Adam      08/18/202208/26/2022Aerospace/Defense
OXYPipe top      08/29/202208/29/2022Petroleum (Producing)
PGUgly double bottom      06/15/202207/21/2022Household Products
RLHead-and-shoulders top      07/22/202208/26/2022Apparel
SXIHead-and-shoulders top      07/28/202208/25/2022Diversified Co.
TFXDouble Bottom, Adam and Adam      08/29/202209/06/2022Diversified Co.
TMODouble Top, Adam and Eve      07/29/202208/15/2022Precision Instrument
RIGTriangle, symmetrical      08/02/202209/08/2022Oilfield Svcs/Equipment
VFCTriple top      07/20/202208/16/2022Apparel
WERNDouble Top, Adam and Adam      07/29/202208/16/2022Trucking/Transp. Leasing

 

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Thursday 9/8/22. Intraday Market Direction: Nasdaq

The Nasdaq climbed by 2.1% or 246.99 points. Since 02/05/1971 the Nasdaq made 55 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.8% on 33 occasions.
     Average loss was -1.4% on 22 occasions.
Expect the Nasdaq to close higher 60.0% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 244/430 or 56.7% of the time.
     The prediction of the Nasdaq closing lower has been right 65/137 or 47.4% of the time.

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

Picture of the Nasdaq composite on the 5 minute scale.

$ $ $

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

The Nasdaq made an ascending scallop at A with turn C higher than the start of the pattern. However, the differences between the start and end are not as high as I like to see. Plus, the drop after the pattern ends is deeper than usual.

Turn B, with C and D almost equal, is a rounded bottom or more likely a descending scallop.

What I think we'll see is a retrace (drop) followed by a strong push higher. That's a guess, of course. The intraday scale doesn't behave as well as the daily or weekly scale. There's more noise involved, obscuring the real trend.

$ $ $

Here's a symbol list of 146 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ADTN, AJRD, ALK, ALB, DOX, AMED, AEP, AEL, AIG, AMN, APOG, ACGL, ATO, AVA, AXS, BMI, BSET, BBBY, BIG, BKH, BFH, CAL, CE, CF, CVX, CMTL, ED, CONN, COP, CLR, CRH, CW, DDS, ^DJU, DTE, EIX, RE, FE, FLS, FCX, GME, IT, GIS, GL, GPRO, GGG, EVRG, GES, THG, HL, HP, HSIC, HSY, HOV, IEX, ILMN, IBP, IPI, IVC, NVTA, JAZZ, JNJ, KSS, LHX, LZB, LEN, L, MCHX, MRTN, MGEE, MS, MOS, MYGN, NFG, NCR, NTGR, NWL, OXY, OGE, PKG, PATK, PTEN, PNW, SAIA, SLB, SEE, SIGI, SKX, LUV, SWN, SR, SXI, SUM, SRDX, TPR, TGT, TPX, TXT, TSCO, SLCA, VMC, WMB, WOLF, IAI, IYK, IYC, IYE, IEZ, IDU, BOTZ, IGE, IEO, IYF, IHI, EWA, EWK, EWZ, EIS, EWS, EWT, TUR, PPA, PEJ, PHO, IXC, XLY, XLE, UNG, USO, 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

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  10,538.60    
 Monthly S1  11,165.25  626.65   
 Weekly S2  11,242.75  77.50   
 Daily S2  11,458.03  215.28   
 Weekly S1  11,517.32  59.30   
 Low  11,555.08  37.76   
 Open  11,559.38  4.30   Yes! The Open is close to the Low.
 Daily S1  11,624.96  65.58   
 61.8% Down from Intraday High  11,655.92  30.96   
 50% Down from Intraday High  11,687.08  31.15   
 38.2% Down from Intraday High  11,718.23  31.15   
 Daily Pivot  11,722.02  3.79   Yes! The Daily Pivot is close to the 38.2% Down from Intraday High.
 Close  11,791.90  69.88   
 High  11,819.07  27.17   
 Weekly Pivot  11,821.10  2.03   Yes! The Weekly Pivot is close to the High.
 Daily R1  11,888.95  67.86   
 Daily R2  11,986.01  97.05   
 Weekly R1  12,095.67  109.67   
 Monthly Pivot  12,173.17  77.50   
 Weekly R2  12,399.45  226.28   
 Monthly R1  12,799.82  400.37   
 Monthly R2  13,807.74  1,007.92   

Wednesday 9/7/22. A Look At Indicators

Picture of the chart pattern indicator

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

The chart pattern indicator (CPI) remains bearish because the tall red bar on the far right of the chart is the most recent signal. The thin blue line at the bottom of the chart remains flat and that's unusual.

We can see that a similar event happened in June and perhaps at other locations on the chart. Look what happened after June, though. The index climb in a stair-step fashion.

Even though the indicator is bearish, I think the downward move is about over. We've retraced enough and it's time to rise. So rise up ye' prices!

Picture of the percent down indicators

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

Shown as a red line on the above chart...
On Tuesday, 64% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 57%.
The fewest was 21% on 11/12/2021.
And the most was 79% on 06/17/2022.
Shown as a blue line on the above chart...
The 453 stocks in my database are down an average of 29% from their yearly high.
A week ago, the average was 26%.
The peak was 12% on 11/08/2021.
And the bottom was 33% on 06/16/2022.

Both lines (red and blue) are worse off this week compared to a week ago. However, the wider view shows the red line making higher lows (June and July). That's bullish.

We might have a few more days of retracing before we start a new upward move. That's my guess anyway.

$ $ $

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: DDD, ADTN, AES, ATSG, ALKS, DOX, AEL, AMWD, APOG, ATR, ACGL, ASH, BMI, BSET, BBBY, BFH, BBW, CAL, CE, CLS, CF, CRL, CHS, CHD, CIEN, CSCO, CTSH, COP, CLR, GLW, CRH, CCRN, CSGS, DDS, DUK, EXP, EIX, FDX, GME, GIS, GGG, EVRG, HSC, HE, HQY, HL, HNI, ILMN, INCY, IPI, KBH, K, KBAL, LEG, MLKN, MOS, MYGN, NBR, NFG, NOV, NCR, NTGR, NWL, NEU, NEE, NXGN, NKE, OMC, OUT, OXM, PANW, PKE, PATK, PNW, POR, PINC, PEG, PHM, SEIC, SMTC, SKX, SUM, TFX, TEVA, TZOO, TG, SLCA, VLO, VRTX, WMB, WOLF, ITB, IEZ, FXI, BOTZ, IYZ, IYF, EWA, EWH, EIS, EWJ, EWS, EWY, TUR, PPA, PBE, PEJ, XLP, XLF, 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

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Tuesday 9/6/22. Slider Trading Quiz!

The Dow dropped by -1.1% or -337.98 points. Since 10/01/1928 the Dow made 314 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 0.9% on 148 occasions.
     Average loss was -0.8% on 166 occasions.
Expect the Dow to close lower 52.9% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Dow closing higher has been right 250/449 or 55.7% of the time.
     The prediction of the Dow closing lower has been right 47/98 or 48.0% of the time.

$ $ $

I show another slider trading quiz featuring St. Paul Travelers: STA stock.

$ $ $

Here's a symbol list of 218 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, AXDX, ACN, ACIW, AYI, ADTN, AES, AFL, AKAM, DOX, AXP, AFG, AMWD, APH, AON, APOG, AAPL, AMAT, ATR, ACGL, AWI, ASH, ADSK, BMI, BSET, BIO, BIIB, BA, BOOT, BAH, BBW, CE, CRL, CHKP, CHS, CIEN, CINF, CSCO, CLX, CNA, CTSH, CMCO, CONN, COP, GLW, COST, CROX, CMI, DHR, DECK, DDS, DFS, ^DJT, ^DJI, DUK, EMN, ELV, WIRE, RE, EXPD, FDS, FDX, FLS, FMC, FWRD, FDP, GME, GL, GOOGL, GGG, EVRG, GES, HBI, THG, HSC, HE, HQY, HNI, HON, JBHT, IEX, IDXX, ILMN, INFN, INTC, IPAR, TILE, IPG, ISRG, KELYA, KMT, KBAL, KMB, LAMR, LDOS, LLY, MANH, MAN, MAS, MA, MDC, MDT, META, MSFT, MLKN, MLI, MYGN, ^IXIC, NCR, NTGR, NTAP, NEE, NXGN, NKE, NVDA, ORI, OMCL, OMC, ASGN, OXM, PKG, PKE, PAYX, PYPL, PNW, POR, PPL, PG, PGR, PEG, RMBS, RJF, RGA, RLI, RHI, RCKY, RES, ^GSPC, SCHW, SAIC, SMG, SEIC, SIGI, SKX, SR, SXI, SNPS, TDOC, TFX, TEVA, TXN, TKR, RIG, SLCA, VFC, VLO, VRTX, V, WAT, WERN, WEX, WSM, WOLF, IYK, DDM, FTEC, FDN, FXI, QQQ, ICF, IYZ, SOXX, IYF, IHI, EWK, EWQ, EWG, EWH, EIS, EWI, EWP, EWL, EWU, QLD, PPA, PBE, PEJ, PHO, IEV, IXN, SSO, XLP, XLF, XLI, XRT, SPY, XLK, 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 Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  29,161.36    
 Monthly S1  30,239.90  1,078.54   
 Weekly S2  30,465.49  225.59   
 Daily S2  30,664.33  198.84   
 Weekly S1  30,891.97  227.63   
 Daily S1  30,991.39  99.42   
 Low  31,182.09  190.70   
 Close  31,318.44  136.35   
 61.8% Down from Intraday High  31,504.81  186.37   
 Daily Pivot  31,509.14  4.34   Yes! The Daily Pivot is close to the 61.8% Down from Intraday High.
 50% Down from Intraday High  31,604.49  95.35   
 Weekly Pivot  31,608.56  4.07   Yes! The Weekly Pivot is close to the 50% Down from Intraday High.
 38.2% Down from Intraday High  31,704.18  95.62   
 Daily R1  31,836.20  132.02   
 Open  31,848.50  12.30   Yes! The Open is close to the Daily R1.
 High  32,026.90  178.40   
 Weekly R1  32,035.04  8.14   Yes! The Weekly R1 is close to the High.
 Monthly Pivot  32,260.63  225.59   
 Daily R2  32,353.95  93.32   
 Weekly R2  32,751.63  397.68   
 Monthly R1  33,339.17  587.54   
 Monthly R2  35,359.90  2,020.73   

Friday 9/2/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 242 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABT, ADBE, AEIS, AMD, AES, AFL, APD, ATSG, ALK, ALB, AA, DOX, AEO, AXP, APOG, AMAT, ARCB, ACGL, ASH, AVNT, BMI, BCPC, BALL, BSET, BERY, BBY, BFH, CBT, CDNS, CALM, CE, CX, CNP, CENX, CRL, CHKP, CHS, CIEN, CSCO, CLF, CTSH, GLW, COTY, CRH, DDS, DRQ, EMN, EBAY, EIX, EL, EXC, FFIV, FLEX, FLS, FMC, FCX, FDP, GME, GE, GIS, GL, GGG, GES, HSC, HIG, HL, HSII, HSIC, HNI, HOV, INCY, NSP, IBP, ITGR, IPAR, IBKR, IPG, INTU, JBLU, KALU, KBH, KELYA, KFRC, KBAL, KLAC, KLIC, LZB, LEG, LLY, LNC, RAMP, MHO, MTSI, MANH, MAS, MDC, MSFT, MLKN, MOS, MLI, ^IXIC, NCR, NTGR, NWL, NVDA, ORI, OLN, OMCL, OMC, OUT, OXM, PKG, PFE, PPG, PRU, QCOM, RMBS, RCKY, ROST, SAIA, CRM, SMG, SMTC, NOW, SKX, SCCO, LUV, SR, SXI, SSYS, SUM, SNPS, TGT, TER, TEVA, TXT, TKR, TOL, TRV, SLCA, VMI, VEEV, WLK, WSM, WOLF, ITA, IYM, ITB, FTEC, FDN, QTEC, FXL, FXI, BOTZ, ICF, IAT, IGV, SOXX, SLV, IYF, IHI, EWA, EWO, EWK, EWZ, EWC, EEM, EWQ, EWG, EWH, EIS, EWI, EWJ, EWW, EPP, EZA, EWP, EWD, EWL, THD, EWU, PPA, PBE, PEJ, PJP, PHO, ROBO, IEV, IXN, ILF, MXI, XLF, GLD, XLV, XLB, XAR, XLK, XLU, USO, SMH, VAW. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

Top

 

 Symbol  Chart Pattern  Bullish 
 Bearish 
Start End Industry
ABTDouble Top, Adam and Eve      07/22/202208/16/2022Medical Supplies
AEISTriple top      08/04/202208/26/2022Semiconductor
ALRMPipe top      08/08/202208/15/2022Computer Software and Svcs
AMWDBroadening top      08/01/202208/30/2022Building Materials
AMGNDouble Top, Adam and Eve      07/26/202208/16/2022Biotechnology
AMATDouble Top, Eve and Adam      08/04/202208/15/2022Semiconductor Cap Equip.
ATRHead-and-shoulders top      07/29/202208/26/2022Packaging and Container
ADSKDouble Top, Eve and Adam      08/15/202208/25/2022Computer Software and Svcs
AVYPipe top      08/08/202208/15/2022Packaging and Container
BECNDouble Top, Eve and Eve      08/04/202208/18/2022Retail Building Supply
BBBYDead-cat bounce      08/31/202208/31/2022Retail (Special Lines)
BIODouble Top, Eve and Adam      07/29/202208/11/2022Medical Supplies
BIIBTriple top      07/08/202208/11/2022Biotechnology
BRCHead-and-shoulders top      08/01/202208/26/2022Chemical (Diversified)
CBTDouble Top, Eve and Adam      08/16/202208/25/2022Chemical (Diversified)
CLSHead-and-shoulders top      08/11/202208/26/2022Electronics
CHSPipe top      08/15/202208/22/2022Apparel
CSCOPipe top      08/15/202208/22/2022Computers and Peripherals
CCRNPipe bottom      08/08/202208/15/2022Human Resources
CTSDouble Top, Adam and Adam      08/18/202208/25/2022Electronics
EXPPipe top      08/08/202208/15/2022Cement and Aggregates
EMRHead-and-shoulders top      07/29/202208/18/2022Computers and Peripherals
EFXPipe top      08/08/202208/15/2022Information Services
EXPDDouble Top, Eve and Eve      08/11/202208/26/2022Air Transport
XOMUgly double bottom      07/14/202208/05/2022Petroleum (Integrated)
FDSDouble Top, Adam and Adam      08/18/202208/26/2022Information Services
FDXTriple top      08/01/202208/16/2022Air Transport
FWRDPipe top      08/08/202208/15/2022Trucking/Transp. Leasing
FRDDouble Top, Eve and Eve      08/19/202208/29/2022Building Materials
GFFDouble Top, Adam and Eve      08/11/202208/25/2022Building Materials
HLITTriangle, symmetrical      08/02/202208/26/2022Telecom. Equipment
HNIPipe top      07/18/202207/25/2022Furn/Home Furnishings
NSPHead-and-shoulders top      08/02/202208/26/2022Human Resources
IBPDouble Top, Adam and Eve      08/04/202208/16/2022Retail Building Supply
ITGRPipe top      08/08/202208/15/2022Electronics
TILETriple top      03/03/202208/04/2022Furn/Home Furnishings
IPGDouble Top, Adam and Eve      07/20/202208/16/2022Advertising
INTUDouble Top, Eve and Adam      08/15/202208/24/2022Computer Software and Svcs
KMBDouble Top, Adam and Eve      07/06/202208/16/2022Household Products
KLICHead-and-shoulders top      07/20/202208/12/2022Semiconductor Cap Equip.
LZBDouble Top, Adam and Adam      08/16/202208/24/2022Furn/Home Furnishings
LHDouble Top, Adam and Eve      07/29/202208/11/2022Medical Services
LAMRPipe top      08/08/202208/15/2022Advertising
LDOSPipe top      07/25/202208/01/2022IT Services
LENHead-and-shoulders top      08/01/202208/25/2022Homebuilding
LLYPipe top      08/15/202208/22/2022Drug
LMTDouble Top, Eve and Adam      08/17/202208/26/2022Aerospace/Defense
MHOHead-and-shoulders top      07/28/202208/26/2022Homebuilding
MTSIHead-and-shoulders top      08/05/202208/25/2022Semiconductor
MROUgly double bottom      07/14/202208/05/2022Petroleum (Integrated)
MUDouble Top, Adam and Adam      08/04/202208/12/2022Semiconductor
MCOPipe top      08/08/202208/15/2022Information Services
JWNDead-cat bounce      08/24/202208/24/2022Retail Store
NWPXTriple top      08/16/202208/25/2022Building Materials
NVDAHorn top      08/01/202208/15/2022Semiconductor
OXYPipe bottom      08/01/202208/08/2022Petroleum (Producing)
ORIPipe top      08/15/202208/22/2022Insurance (Prop/Casualty)
OLNDouble Top, Eve and Adam      08/16/202208/26/2022Chemical (Basic)
ASGNHead-and-shoulders top      08/01/202208/26/2022Human Resources
OUTHead-and-shoulders top      08/04/202208/26/2022Advertising
RMBSDouble Top, Adam and Adam      08/18/202208/25/2022Semiconductor Cap Equip.
SLBUgly double bottom      07/14/202208/05/2022Oilfield Svcs/Equipment
SMTCDead-cat bounce      09/01/202209/01/2022Semiconductor Cap Equip.
SLGNDouble Top, Adam and Adam      08/16/202208/26/2022Packaging and Container
SCSDouble Top, Adam and Adam      08/16/202208/26/2022Furn/Home Furnishings
SUMPipe top      08/08/202208/15/2022Cement and Aggregates
SRDXPipe top      08/08/202208/15/2022Medical Supplies
TXNDouble Top, Adam and Eve      08/04/202208/12/2022Semiconductor
TXTHead-and-shoulders top      07/28/202208/26/2022Diversified Co.
UGIPipe top      07/25/202208/01/2022Natural Gas (Distributor)
VFCPipe top      07/18/202207/25/2022Apparel
VDouble Top, Eve and Eve      07/22/202208/16/2022Financial Services
WATPipe top      07/25/202208/01/2022Precision Instrument
WLKPipe top      08/15/202208/22/2022Chemical (Basic)
WSMPipe top      08/15/202208/22/2022Retail (Special Lines)
WWWDiamond top      08/01/202208/17/2022Shoe

 

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Thursday 9/1/22. 2022 Forecast Update

The Nasdaq dropped by -0.6% or -66.9394 points. Since 02/05/1971 the Nasdaq made 332 similar moves on a percentage basis. After those moves, the next day's...
     Average gain was 1.1% on 149 occasions.
     Average loss was -0.8% on 183 occasions.
Expect the Nasdaq to close lower 55.1% of the time.
Weekly, since inception on 6/14/2011:
     The prediction of the Nasdaq closing higher has been right 244/430 or 56.7% of the time.
     The prediction of the Nasdaq closing lower has been right 64/136 or 47.1% of the time.

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

Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 30 August 2022 were... (The numbering is how they ranked a month ago.)

1. Energy (+46%)
2. Utilities (4%)
3. Consumer staples (-5%)
4. Health care (-11%)
5. Industrials (-12%)
7. Financials (-15%)
6. Materials (-16%)
8. Real estate (-19%)
9. Information technology (-22%)
10. Consumer discretionary (-23%)
11. Communication services (-31%)

The folks at two firms polled by Fidelity weigh the sectors in this order, as of 8/1/22.

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

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 8/31. The numbering is how they ranked a month ago.

1. Oil, gas and consumable fuels (+71%)
2. Construction and engineering (+36%)
3. Energy equipment and services (+30%)
5. Health care providers and services (+21%)
7. Food products (14%)
4. Automobiles (+13%)
6. Multi-utilities (+13%)
8. Beverages (+11%)
10. Electric utilities (9%)
9. Technology hardware, and storage (6%)

$ $ $

Here's a symbol list of 137 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AFL, APD, ALK, ALKS, AYX, AEE, AIG, AMWD, AMN, APOG, ACGL, ATO, BMI, BBBY, BIG, BA, BOOT, CAL, CX, CF, CHS, CSCO, CLF, CLX, CGNX, CTSH, CAG, GLW, COST, COTY, CRH, CCK, CMI, DDS, DSGR, EMN, EIX, EL, FLS, FDP, GME, GPS, GGG, GFF, HLIT, HIG, HL, HNI, HOV, HURC, IIIN, IPAR, IVC, JBLU, KMT, KBAL, LHX, LEG, LLY, LNC, LOW, MHO, M, MCHX, MDC, MOS, NCR, NTGR, NEE, NXGN, ORI, OLN, OMCL, OUT, PKE, RL, SCHW, LUV, SWX, SCS, TPR, TEVA, TXT, TKR, TZOO, UNM, WERN, WU, WSM, WOLF, ITA, IYM, IYK, ITB, IDU, FXI, ICF, IAT, IYZ, SLV, IYF, EWA, EWC, ECH, EWH, EPP, EZA, EWT, EWU, PPA, PEJ, PHO, ROBO, MXI, XLP, XLF, GLD, XLV, XLI, XLB, VIS, VAW. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

-- Thomas Bulkowski

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© 2022 ThePatternSite.com    Metric  Value  Diff  Close (within 10% of the high-low range for the day)? 
 Monthly S2  10,529.17    
 Monthly S1  11,172.68  643.52   
 Daily S2  11,672.67  499.99   
 Weekly S2  11,690.20  17.53   Yes! The Weekly S2 is close to the Daily S2.
 Daily S1  11,744.44  54.24   
 Weekly S1  11,753.20  8.76   Yes! The Weekly S1 is close to the Daily S1.
 Low  11,814.17  60.97   
 Close  11,816.20  2.03   Yes! The Close is close to the Low.
 Daily Pivot  11,885.93  69.73   
 61.8% Down from Intraday High  11,895.63  9.70   Yes! The 61.8% Down from Intraday High is close to the Daily Pivot.
 50% Down from Intraday High  11,920.80  25.17   
 38.2% Down from Intraday High  11,945.96  25.17   
 Daily R1  11,957.70  11.73   Yes! The Daily R1 is close to the 38.2% Down from Intraday High.
 Open  11,972.60  14.90   Yes! The Open is close to the Daily R1.
 High  12,027.43  54.83   
 Daily R2  12,099.19  71.76   
 Monthly Pivot  12,176.89  77.69   
 Weekly Pivot  12,204.52  27.63   
 Weekly R1  12,267.52  63.00   
 Weekly R2  12,718.84  451.32   
 Monthly R1  12,820.40  101.56   
 Monthly R2  13,824.61  1,004.20   

 

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My novels:  Bedroom to Boardroom book Remember Me book Bumper's Story book Head's Law book
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