As of 11/21/2025   Indus: 46,245 +493.15 +1.1%     Trans: 16,014 +488.18 +3.1%     Utils: 1,107 +2.55 +0.2%     Nasdaq: 22,273 +195.03 +0.9%     S&P 500: 6,603 +64.23 +1.0%	YTD  +8.7%    +0.7%    +12.6%    +15.3%    +12.3%	Targets    Overview: 11/14/2025     47,800 or 45,000 by 12/01/2025   16,500 or 15,500 by 12/01/2025   1,150 or 1,090 by 12/01/2025   24,000 or 21,800 by 12/01/2025   7,000 or 6,500 by 12/01/2025
Chart Pattern Indicator: on 11/21/25

As of 11/21/2025   Indus: 46,245 +493.15 +1.1%     Trans: 16,014 +488.18 +3.1%     Utils: 1,107 +2.55 +0.2%     Nasdaq: 22,273 +195.03 +0.9%     S&P 500: 6,603 +64.23 +1.0%	YTD  +8.7%    +0.7%    +12.6%    +15.3%    +12.3%
Targets    Overview: 11/14/2025     47,800 or 45,000 by 12/01/2025   16,500 or 15,500 by 12/01/2025   1,150 or 1,090 by 12/01/2025   24,000 or 21,800 by 12/01/2025   7,000 or 6,500 by 12/01/2025
Chart Pattern Indicator: on 11/21/25

Recent Headlines Monday 11/24/25. Market Monday: The Week Ahead Friday 11/21/25. Pattern Trading Setups for the Weekend. Thursday 11/20/25. Intraday Market Direction: Nasdaq Wednesday 11/19/25. A Look at the Chart Pattern Indicator (CPI) Tuesday 11/18/25. Slider Trading Quiz! Southern Union: SUG

Older Headlines Monday 11/17/25. Market Monday: The Week Ahead Friday 11/14/25. Pattern Trading Setups for the Weekend. Thursday 11/13/25. Intraday Market Direction: Nasdaq Wednesday 11/12/25. A Look at the Chart Pattern Indicator (CPI) Tuesday 11/11/25. Slider Trading Quiz! Southwestern Energy: SWN Monday 11/10/25. Market Monday: The Week Ahead Friday 11/7/25. Pattern Trading Setups for the Weekend. Thursday 11/6/25. Market Direction: Nasdaq Wednesday 11/5/25. A Look at the Chart Pattern Indicator (CPI) Tuesday 11/4/25. Slider Trading Quiz! Southwest Water (SWWC) Monday 11/3/25. 2025 Forecast Update

Archives November Archive October Archive September Archive August Archive All Archives

Monday 11/24/25. Market Monday: The Week Ahead

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

My Prediction

This is a chart of the Dow transports on the daily scale.

AB is a chart pattern called a double top. Notice the downward move after the pattern confirms (price closes below the value of the low between the two peaks). CD is the reverse, called a double bottom. Price rises to E, which looks to hit the target suggested by the double bottom. Pattern E is a diamond top.

Pattern F is a symmetrical triangle. Symmetrical triangles are known for their indecision as to the breakout direction (I'm talking about busted patterns). In this case, we see the pattern triple bust (more, really). Finally, G is an ascending triangle. If you have any questions about these patterns, see the associate link.

What all of these patterns tell me is that price doesn't know which way to go. You don't see patterns form when price trends, but you do see them form when price moves sideways. A sideways move is what we've been seeing since July.

I don't see anything on this chart to suggest a trend forming. It will, eventually, but I don't see it yet.

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.

Mutual funds will begin dividend distributions and rebalancing their portfolios for the approaching year end (starts in late November).

Here's a symbol list of 109 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AEIS, AES, A, ALRM, AA, ALKS, ALGT, ALL, AEO, AMWD, AAPL, ARW, AVNT, AZTA, BBY, BKNG, CBT, CX, CENX, CDAY, CHD, CLNE, CMCO, ED, CAG, CCK, DVN, ^DJT, EPAM, EVRG, EXPI, FDP, GFS, GES, HELE, ITW, IIIN, ITGR, IPAR, INTU, JKHY, JAZZ, LHX, LAMR, LDOS, LLY, LXU, M, MKTX, MRTN, MUR, NFG, NJR, OXY, OGE, ORCL, OR, PATK, PTEN, PEN, PNW, KWR, RMBS, RTX, RNG, ROK, ROG, SAIA, SMG, SRE, SLGN, TDC, VEEV, VC, WPM, WDAY, FXI, AIQ, BOTZ, MXI, IXN, EWK, EEM, EWQ, EWG, EWJ, EWL, EWT, THD, TUR, EWU, QLD, PHO, SSO, XLU, USO, VAW, 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, author: Invest for Two-Comma Wealth and the novel (fiction), Orb Foresight (#Ad)

Friday 11/21/25. Pattern Trading Setups for the Weekend.

Here's a symbol list of 207 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ACIW, AYI, AEIS, APD, ALK, AA, ALKS, ALGT, AEE, AMN, APH, AR, APA, AMAT, ANET, ATO, ADP, BSET, BCO, CACI, CDNS, CAL, CPB, CLS, CX, COR, CNC, CENX, CDAY, CF, CVX, CIEN, CSCO, CLNE, CGNX, CMCO, GLW, CTS, CMI, CW, DDS, DSGR, ^DJI, EXP, EMR, EPAM, EQT, FICO, FLEX, FORM, FCX, FDP, FRD, GME, GE, GILD, GFS, GS, GES, HQY, HOLX, HWM, HUN, IIIN, PODD, INTC, IBKR, INTU, JKHY, KALU, KLAC, LHX, LRCX, LDOS, LNC, MTSI, M, MANH, MKTX, MA, MS, MLI, ^IXIC, NOV, NJR, NKE, NI, NOVT, NTNX, NVDA, OMCL, OMC, OTEX, ORCL, OR, PLXS, PPL, KWR, QCOM, RL, RMBS, RJF, RTX, RGA, ROK, ROP, RES, ^GSPC, SLB, SCHW, SMG, SIGI, SMTC, SHW, LUV, SXI, TPR, TDOC, TER, TXN, TXT, RIG, VFC, VMI, VECO, VC, VMC, WMT, WEX, WPM, ZBRA, ITA, IAI, IYE, IEZ, IHE, DDM, FTEC, QTEC, FXL, AIQ, BOTZ, QQQ, ICF, IYH, IXC, IXN, ILF, SOXX, IGE, IEO, IYF, EWO, EWZ, EWC, EEM, EIS, EWJ, EWM, EWY, EWT, QLD, PPA, DBA, PEJ, PXJ, SSO, ROBO, XLP, XLE, XLF, XLI, SPY, XAR, XLK, XLU, USO, SMH, 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.

$ $ $

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, author: Invest for Two-Comma Wealth and the novel (fiction), Orb Foresight (#Ad)

Thursday 11/20/25. Intraday Market Direction: Nasdaq

$ $ $

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

AB is a chart pattern called a double bottom. It confirms as a valid chart pattern when the index closes above the green line at E.

C is what's called a throwback. Price "throws back" to the breakout price before resuming it's upward move. It happens 58% of the time, so that's about random. If you really believe it's a random happening, then don't be surprised when your trade is stopped out during one just before price moves higher.

Price climbs to D which is well above the measure rule for the double bottom. What's that mean? To get a price target, add the height of the double bottom to the top of it and that gives a reasonable target to shoot for. Depending on the type of double bottom (Adam or Eve combinations of valleys), price reaches the target ~73% of the time.

F is another chart pattern called a broadening top. This example is well shaped. This one had a downward breakout and price missed it's measure-rule target. When it busted (a close above the top of the broadening top), price zipped higher in a nice move.

$ $ $

Here's a symbol list of 104 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AEIS, AFL, ALK, ALB, ALKS, ALGT, ALL, AIG, AON, ATR, ADM, AVNT, BKH, BBW, BLDR, BG, CALM, CX, COR, CNC, CENX, CF, CINF, CSCO, CCK, CSGS, CTS, CMI, ^DJT, DTE, EIX, EPAM, EVH, FDS, FWRD, FCX, FDP, GFS, HLIT, HE, HTLD, HELE, HSIC, HNI, HD, HON, HUM, INCY, NSP, PODD, IPG, IRM, JAZZ, KBH, KMT, KLIC, LHX, LDOS, MTSI, M, MTRX, MU, MSFT, NTNX, OGE, OMC, OXM, PEN, PEG, KWR, RMBS, REGN, RHI, ROK, SBH, SMG, SIGI, SLGN, SXI, SCS, SSYS, TSCO, UIS, UNH, WERN, ICF, IEV, EEM, EWQ, EWH, EWT, TUR, PPA, XLY. 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, author: Invest for Two-Comma Wealth and the novel (fiction), Orb Foresight (#Ad)

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