As of 05/01/2026   Indus: 49,499 -152.87 -0.3%     Trans: 20,598 -195.32 -0.9%     Utils: 1,157 -8.12 -0.7%     Nasdaq: 25,114 +222.13 +0.9%     S&P 500: 7,230 +21.11 +0.3%	YTD  +3.0%    +18.7%    +8.3%    +8.1%    +5.6%	Targets    Overview: 04/30/2026     51,000 or 47,000 by 05/15/2026   19,700 or 22,300 by 05/15/2026   1,200 or 1,120 by 05/15/2026   25,800 or 23,800 by 05/15/2026   7,300 or 6,800 by 05/15/2026
Chart Pattern Indicator: on 4/10/26

As of 05/01/2026   Indus: 49,499 -152.87 -0.3%     Trans: 20,598 -195.32 -0.9%     Utils: 1,157 -8.12 -0.7%     Nasdaq: 25,114 +222.13 +0.9%     S&P 500: 7,230 +21.11 +0.3%	YTD  +3.0%    +18.7%    +8.3%    +8.1%    +5.6%
Targets    Overview: 04/30/2026     51,000 or 47,000 by 05/15/2026   19,700 or 22,300 by 05/15/2026   1,200 or 1,120 by 05/15/2026   25,800 or 23,800 by 05/15/2026   7,300 or 6,800 by 05/15/2026
Chart Pattern Indicator: on 4/10/26

Recent Headlines Monday 5/4/26. Market Monday: The Week Ahead Friday 5/1/26. 2026 Market Forecast Update Thursday 4/30/26. Intraday Market Direction: Nasdaq Wednesday 4/29/26. A Look at the Chart Pattern Indicator (CPI) Tuesday 4/28/26. Slider Trading Quiz! Nationwide Financial Services: NFS
Older Headlines Monday 4/27/26. Market Monday: The Week Ahead Friday 4/24/26. Pattern Trading Setups for the Weekend. Thursday 4/23/26. Intraday Market Direction: Transports Wednesday 4/22/26. A Look at the Chart Pattern Indicator (CPI) Tuesday 4/21/26. Slider Trading Quiz! NCR: NCR (actual trade)	Archives May Archive April Archive March Archive February Archive All Archives

Monday 5/4/26. Market Monday: The Week Ahead

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

My Prediction

The chart shows a graph of the Dow transports on the daily scale.

A chart pattern called an ascending scallop appears at A. I don't talk about them much because they happen too often. The red line overwrites most of it. Sorry about that. It's the best my version of Paint can do (or you can blame my inexperience with the program).

The pattern starts from the left lip and dips down to make a relatively smooth turn upward. The right side see price climb well above the left. It ends at B in this case.

I think the tall spike was due to the war and its effect on gas prices.

Looking forward, there's a support area outlined in green below the current price. It might support price. With events pushing the indices around, there's no telling if support will hold or not.

I'm looking for the index to decline over the next 2 weeks.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

Swing Traders: Pivot Points

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

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

Here are the formulas:

Earnings, Chart Patterns & Industries

Earnings season is either underway or should be starting soon. The sessions could be more volatile.

Here's a symbol list of 172 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ACH, AMD, AES, AKAM, ALB, AEO, AXP, AIG, AME, ANIK, AR, AAPL, ATR, ARCB, AWI, ARW, ATO, AVY, BMI, BALL, BSET, BIO, BAH, BSX, BCO, CBT, CDNS, COR, CNC, CNP, CHKP, CHD, CINF, CTAS, CSCO, CLX, CNX, CL, CMTL, COP, COST, COTY, CR, CTS, DHR, DECK, XRAY, BOOM, EFX, EQT, EXPI, FIVN, FLS, FTNT, FTV, FDP, IT, GILD, GGG, HELE, HD, DHI, HUN, HURC, NSP, INTC, IPAR, IBKR, IPI, JBLU, KBH, KSS, LZB, LEG, LDOS, LEN, LNC, RAMP, LPLA, MHO, MGY, MA, META, MU, MSFT, MCO, MS, MLI, MYGN, ^IXIC, NWL, NI, NWPX, NTNX, OXY, ORI, OLN, ORCL, PEN, PETS, PLXS, PHM, QTWO, QCOM, RL, RJF, ROL, ^GSPC, SAIA, CRM, SMG, SEIC, SIGI, SHW, SGI, SNPS, TPR, TDY, MZTI, TTD, TKR, TOL, TSCO, TDG, TWLO, UGI, UIS, UNH, VFC, VRSN, WSO, WERN, WEX, WSM, WSC, ITA, IHE, FTEC, FDN, QTEC, FXL, FXI, AIQ, IYZ, IXN, SLV, ITB, ECH, EIS, EWM, EWD, TUR, PBE, SSO, XLY, SPY, XLK, VIS, MGK, VONG. Click this link for details (pattern type, start and end dates).

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

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

-- Thomas Bulkowski

Friday 5/1/26. 2026 Market Forecast Update

Here's the link to the 2026 market forecast update, presented in slider format.

$ $ $

Here's a symbol list of 195 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABM, AEIS, AKAM, ALK, ALB, AA, AEE, AEO, AXP, AFG, AIG, AR, AON, AMAT, AIZ, ATO, AVA, AXS, BALL, BBY, BIO, BKH, BRC, BCO, BMY, CALM, CPB, CX, CNP, CIEN, ED, CAG, COP, GLW, COST, COTY, CRH, CSGS, CMI, CW, DVN, ^DJU, ^DJT, ^DJI, DTE, DUK, EXP, EMR, EFX, EQT, EL, EG, EVRG, P, EVH, FAST, FTV, FDP, FRD, GAP, GNW, GOOGL, THG, HLIT, HD, HUBG, HUN, IDA, ITW, IIIN, ITGR, IPAR, IBKR, TILE, IPI, JBLU, KSS, LRCX, LEG, LLY, LNC, L, LPLA, MTSI, MGY, MRTN, MTRX, MRCY, META, MLKN, MS, MLI, NTAP, NJR, OXY, OMCL, PEN, PETS, PNW, PPG, PRU, PEG, QCOM, RRC, RGA, RLI, ROK, SLB, SEIC, SRE, SGI, LUV, SR, SXI, TPR, TDOC, TER, TXT, TKR, TDG, TG, UGI, UIS, UNH, VFC, WAT, WEX, WSM, WSC, XEL, IEZ, IHE, IDU, BOTZ, IAT, IEV, MXI, ILF, IYF, EWA, EWK, EWZ, EWC, ECH, EEM, EWQ, EWG, EWH, EWI, EWJ, EWW, EPP, EWS, EZA, EWP, EWD, EWL, EWT, THD, TUR, EWU, IBB, PBE, PXJ, PJP, ROBO, XLF, XHB, XLI, XRT, XAR, XLU, VIS. Click this link for details (pattern type, start and end dates).

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

$ $ $

Thursday 4/30/26. Intraday Market Direction: Nasdaq

$ $ $

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

Let's go from left to right when discussing chart patterns. I didn't show all of them but the first is a double bottom. This is an Adam & Adam double bottom. Adam refers to the shape of the bottom (narrow, long, sometimes a one-bar price spike).

Next is a multi-peak pattern. I see this a lot with price dropping some and a bullish pattern appearing. Following that, we see price rise for a time before price plunges.

We see that behavior here. Price drops and forms a bullish triple bottom (but not a classic example of one). Then the index rises only to tumble at the next day's opening.

We see a triple bottom, which are three bottoms near the same price. It becomes a valid triple bottom when the index closes above the top of it. That happens when the index forms a potential triple bottom. That one hasn't confirmed (no close yet above the top of the pattern).

Finally a double bottom appears on the far right of the chart. Price rises far enough to confirm the pattern as valid. With a new day opening tomorrow (Thursday), it's likely the chart resets. By that, I mean the index could gap open down or up, potentially negating a chart pattern from the prior day. That's especially true when political words and a war push things around.

$ $ $

Here's a symbol list of 182 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ALGT, AEO, AXP, AIG, ANIK, AR, AMAT, ADM, ANET, ASH, AIZ, ADP, AVY, BSET, BAX, BSX, BCO, BBW, BLDR, CBT, CACI, CDNS, CNC, CTAS, CLX, COP, CSGP, CR, DVN, FANG, BOOM, EXP, EBAY, EIX, EOG, EPAM, EFX, EQT, EG, EVH, EXPI, FTV, FNV, GAP, GD, GNW, GPN, GFF, THG, HTLD, HL, HSY, HD, DHI, IEX, IDXX, INTC, IPAR, IBKR, IPI, JBLU, KBH, KMT, KEYS, LHX, LEG, LOW, LXU, MGY, MRTN, MA, MS, MLI, NTGR, NJR, NEE, NUS, NTNX, OXY, OMCL, OMC, OR, PTEN, PCTY, PYPL, PETS, PFE, PLXS, PHM, REGN, RCKY, RGLD, SMG, SEIC, NOW, SGI, SCCO, SXI, TER, TEVA, TOL, TDG, TREX, UGI, UIS, UPS, UNH, UNM, VFC, VLO, VEEV, V, VMC, WSO, WERN, WEX, WPM, WSM, WSC, ITA, IYE, IHE, DDM, FDN, FXL, BOTZ, IYH, IEV, IXC, MXI, SLV, IEO, IHI, EWA, EWK, ECH, EEM, EWQ, EIS, EWJ, EWW, EPP, EWS, EZA, EWD, EWL, THD, TUR, EWU, IBB, PPA, DBA, PBE, PHO, ROBO, XLE, XLV, UNG, USO, VHT. Click this link for details (pattern type, start and end dates).

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

$ $ $

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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