As of 01/27/2022   Indus: 34,161 -7.31 0.0%     Trans: 14,810 -218.68 -1.5%     Utils: 930 +7.38 +0.8%     Nasdaq: 13,353 -189.34 -1.4%     S&P 500: 4,327 -23.42 -0.5%	YTD -6.0%   -10.1%   -5.2%   -14.7%   -9.2%	Targets    Overview: 01/13/2022     36,000 or 32,500 by 02/15/2022   16,500 or 14,400 by 02/15/2022   970 or 890 by 02/15/2022   15,000 or 12,700 by 02/15/2022   4,700 or 4,100 by 02/15/2022
CPI (updated daily): on 1/5/22

As of 01/27/2022   Indus: 34,161 -7.31 0.0%     Trans: 14,810 -218.68 -1.5%     Utils: 930 +7.38 +0.8%     Nasdaq: 13,353 -189.34 -1.4%     S&P 500: 4,327 -23.42 -0.5%	YTD -6.0%   -10.1%   -5.2%   -14.7%   -9.2%
Targets    Overview: 01/13/2022     36,000 or 32,500 by 02/15/2022   16,500 or 14,400 by 02/15/2022   970 or 890 by 02/15/2022   15,000 or 12,700 by 02/15/2022   4,700 or 4,100 by 02/15/2022
CPI (updated daily): on 1/5/22

Friday 1/28/22. Pattern Trading Setups for the Weekend.

Mid morning on Friday, if you can't get to thepatternsite.com (it's not found), then add an "s" to the url and see if it appears as in: https://thepatternsite.com/ (or any other links you may have to the site). I'll be working on upgrading it to https then.

$ $ $

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: ADTN, AEL, ABC, ADM, AIZ, ADP, BAX, BECN, BIG, CACI, CAL, CLS, CONN, COST, CTS, DHR, EIX, EZPW, FAST, FORM, FCX, GME, GNW, GILD, HBI, HQY, HTLD, HL, HSII, HSIC, HNI, INCY, NSP, INTC, IPG, IVC, JBLU, KALU, KBH, KSS, LH, LAWS, LDOS, M, MOS, NFLX, OMC, PRFT, PCG, PEG, PHM, RCKY, SLB, SCHW, SAIC, NOW, SCCO, SR, TPX, TER, SLCA, WLK, WSM, WWW, FXI, EWJ, EPP, EWY, GLD, XLU. Clink this link for details (pattern type, start and end dates).

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

$ $ $

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

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

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

For details about the chart patterns, click here.

-- Thomas Bulkowski

Thursday 1/27/22. Intraday Market Direction: Nasdaq

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

$ $ $

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

I like trendlines because they describe how price has moved and give hints of what will happen.

This chart is an example of that idea. The blue line shows the longer-term trend (although on this scale, it's very short term). The index tried to pierce it at point A, but failed to do so.

The red line shows a recovery. Everything was fine until the FED made their announcement. My view is that the market would shrug off their words and climb. Instead, the index dropped. I still believe their worry is overblown, so I'm still thinking that this is a buying opportunity (I bought 2 securities and may buy another tomorrow). I expect a recovery. The above probabilities (57% close higher) support that belief.

$ $ $

Today (Wednesday) the web service which hosts my website routed requests from http: to https:. The result of that was to crash the Firefox browser and make me scramble to figure out what happened.

Their response? "Nothing changed on their end." Then "Well, we did change some things but it shouldn't have any bearing on your problem." After he removed their changes, the site resumed operating as it was designed.

What this means is that I'll be trying to reconfigure my website as https: this Friday. That means images won't be shown. The pages will lose their links. If all goes well, the downtime should be an hour or even minutes to get the home page running. There may be links which won't work. I may have to abandon the attempt and rewrite my 900 something pages. If it works, you should change any link to the site to use https instead of http. (add the "s"). If the change works, you should no longer see warnings about going to an insecure site. If it works, you'll see https:// in the URL and the site will appear and work as it does now.

Mid morning on Friday, if you can't get to thepatternsite.com (it's not found), then add an "s" to the url and see if it appears as in: https://thepatternsite.com/ (or any other links you may have to the site).

$ $ $

Here's a symbol list of 160 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, ACN, ACIW, AYI, APD, DOX, AEE, AEL, AFG, APOG, AWI, ARW, ASH, ADP, AVNT, BZH, BERY, BIG, BIO, BIIB, BMRN, BA, CBT, CAL, CPB, CNC, CENX, CHS, CSCO, CLF, CTSH, CL, CMCO, CONN, GLW, CSGS, DECK, ^DJU, ^DJI, BOOM, EZPW, FFIV, FAST, FIS, FCX, GE, GPRO, GES, HBI, HE, HTLD, HL, HSII, HNI, HD, HON, DHI, NSP, ITGR, IPAR, TILE, IVC, JNJ, KALU, KBH, KBAL, KSS, LHX, LZB, LAMR, LEG, MHO, M, MAN, MCHX, MAS, FB, MGEE, MOS, NTAP, NEU, NKE, OMC, OUT, OXM, PAYX, PRFT, PFE, PCG, PNW, POR, PPL, PHM, KWR, RL, RCKY, ROST, SMG, SCCO, SCS, SRDX, TPR, TDOC, TPX, TKR, TOL, SLCA, UPS, VLO, WLK, WMB, WSM, WWW, ITA, IYM, FXI, BOTZ, ICF, IYH, IYZ, ECH, EEM, EWJ, EPP, EWS, EZA, EWY, EWT, THD, TUR, PPA, PBE, XLY, XLP, XLI, XLB, XRT, XAR, UNG, USO, 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

Wednesday 1/26/22. A Look At Indicators

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

In my view, this drop is well oversold (meaning it's time or nearly time to buy). Maybe after tomorrow's (Wednesday's) FED meeting the markets will settle down. So if I had cash to put into the market, I'd be buying. To put it another way, I think the markets will rebound and two years from now, you'll wish you'd bought. That's called buy-the-dip.

This chart is bearish. The index has made a swift drop and the CPI signaled a bearish turn soon after it happened (the red vertical bar on the far right of the chart). Good timing on that signal. However, both the CPI and index are still bearish. I will say that the indices seem to be turning or trying to turn. It's fighting to find a bottom. If I had to guess, I think we put in the low yesterday (Monday). I DO expect the markets to make a big rally tomorrow after the FED meeting. That's a guess, of course.

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

Both the blue and red lines are bearish this week compared to a week ago. No surprise there. I'm still struck by how the red line has been trending lower for months (most of the chart, really) even as the index has climbed.

That's profound bearish divergence.

This week, we have two bearish charts and yet I expect a big rally. You don't see hints of a bullish turn on the charts and world events (covid, inflation, Russia/Ukraine) will continue to make the markets volatile. In my view, when things look bleak and you feel like selling everything, that's the time to buy. I may follow my own advice and buy some QQQs other ETF. I won't be buying individual stocks because of the risk of them making a huge decline (often due to earnings). But the QQQs have made a nice drop, so it's like buying it on sale and the diversified nature of the ETF means you don't suffer as much from single-stock risk.

$ $ $

Here's a symbol list of 89 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ADTN, AJRD, AEL, APA, APOG, ARW, BBBY, BOOT, BAH, CENX, CHKP, CHD, CL, CMTL, CONN, COP, CSGS, CTS, XRAY, DVN, BOOM, FAST, FCX, GPS, GL, HP, HON, NSP, IPAR, IBKR, KALU, KBH, KSS, LZB, LAWS, LEG, LMT, LXU, MAN, MRO, MOS, MUR, NBR, NOV, OXY, ORI, OMC, PKE, PDCO, PTEN, PETS, PCG, RGS, REV, RLI, RES, SLB, SMG, SEE, SCCO, SCS, SRDX, RIG, SLCA, VLO, WLK, IEO, IEZ, IHE, IGE, EWM, EZA, PXJ, IXC, XLP. 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

 

Support this site! Clicking any of the books (below) takes you to Amazon.com. If you buy ANYTHING while there, they pay for the referral.
Legal notices: "As an Amazon Associate I earn from qualifying purchases." Paid links).

My novels:

Copyright © 2005-2021 by Thomas N. Bulkowski. All rights reserved.

Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information.

Some pattern names are registered trademarks of their respective owners.

Home Advertise Contact Donate Links Privacy/Disclaimer ☰