As of 12/19/2025   Indus: 48,135 +183.04 +0.4%     Trans: 17,558 +41.18 +0.2%     Utils: 1,062 -15.58 -1.4%     Nasdaq: 23,308 +301.26 +1.3%     S&P 500: 6,835 +59.74 +0.9%	YTD  +13.1%    +10.5%    +8.0%    +20.7%    +16.2%	Targets    Overview: 12/12/2025     49,500 or 47,000 by 01/01/2026   18,750 or 17,000 by 01/01/2026   1,100 or 1,040 by 01/01/2026   24,500 or 22,400 by 01/01/2026   7,250 or 6,650 by 01/01/2026
Chart Pattern Indicator: on 12/18/25

As of 12/19/2025   Indus: 48,135 +183.04 +0.4%     Trans: 17,558 +41.18 +0.2%     Utils: 1,062 -15.58 -1.4%     Nasdaq: 23,308 +301.26 +1.3%     S&P 500: 6,835 +59.74 +0.9%	YTD  +13.1%    +10.5%    +8.0%    +20.7%    +16.2%
Targets    Overview: 12/12/2025     49,500 or 47,000 by 01/01/2026   18,750 or 17,000 by 01/01/2026   1,100 or 1,040 by 01/01/2026   24,500 or 22,400 by 01/01/2026   7,250 or 6,650 by 01/01/2026
Chart Pattern Indicator: on 12/18/25

Recent Headlines Monday 12/22/25. Market Monday: The Week Ahead Friday 12/19/25. Pattern Trading Setups for the Weekend. Thursday 12/18/25. Intraday Market Direction: Nasdaq Wednesday 12/17/25. A Look at the Chart Pattern Indicator (CPI) Tuesday 12/16/25. Slider Trading Quiz! Southwest Airlines: LUV (actual trade)

Older Headlines Monday 12/15/25. Market Monday: The Week Ahead Friday 12/12/25. Pattern Trading Setups for the Weekend. Thursday 12/11/25. Intraday Market Direction: Nasdaq Wednesday 12/10/25. A Look at the Chart Pattern Indicator (CPI) Tuesday 12/9/25. Slider Trading Quiz! Southwest Airlines v1: LUV (actual trade) Monday 12/8/25. Market Monday: The Week Ahead Friday 12/5/25. Pattern Trading Setups for the Weekend. Thursday 12/4/25. Bitcoin Fall (BTC-USD) Wednesday 12/3/25. A Look at the Chart Pattern Indicator (CPI) Tuesday 12/2/25. Slider Trading Quiz! Southern Peru Copper: PCU Monday 12/1/25. 2025 Forecast Update

Archives December Archive November Archive October Archive September Archive All Archives

Monday 12/22/25. Market Monday: The Week Ahead

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

My Prediction

I show a chart of the S&P 500 index, on the daily scale. It shares a lot of features shown on the Nasdaq chart a week ago.

Point A is a chart pattern called a broadening top. It's not pleasant to the eye because the two lines don't completely overlap, but it's a valid broadening pattern. The breakout hasn't happened yet.

Point B is a feature of broadening tops as well as other chart patterns (such as rectangles). It's called a partial rise. A partial rise appears at or near the end of the chart pattern where price fails to touch the top trendline. The security drops and we often see a downward breakout. That's not clear yet. Indeed, it looks as if the index will climb instead of drop.

A Brief Look Back

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

For the Week...

Year to Date...

Options Expiration

No options expire this week.

Swing Traders: Pivot Points

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

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

Here are the formulas:

Earnings, Chart Patterns & Industries

Earnings season is over.

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 99 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADTN, AEIS, AES, ALB, AR, AVY, AVA, AZTA, BSET, BZH, BKH, BR, BBW, BLDR, CDNS, CALM, CENX, CLNE, CLF, CNA, CNX, ED, CAG, CSGP, CRH, EOG, FAST, FORM, FTNT, FDP, FRD, GAP, GE, GIS, GES, HLIT, HIG, HELE, HSY, HD, DHI, HOV, HURC, IEX, IDXX, PODD, JKHY, KBH, KMT, LMT, MHO, MTSI, MGY, MTRN, MS, MLI, NWL, NKE, NI, NOC, ORI, OMC, OMI, PANW, PTEN, PYPL, PPG, PHM, DGX, RJF, ROG, R, SMTC, SHW, TGT, TXT, TJX, TG, WU, WLK, IYM, IAI, FTEC, FXL, ITB, EWK, EWH, EWI, EWM, EWP, THD, PJP, XLY, XHB, 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 12/19/25. Pattern Trading Setups for the Weekend.

Here's a symbol list of 145 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYI, AMZN, APH, AR, AMAT, ANET, AVNT, AZTA, BCPC, BSET, BIO, BKH, BFH, BR, CACI, CDNS, COR, CENX, CRL, CIEN, CINF, CNA, CNX, CMTL, CAG, CXW, CSGP, XRAY, DUK, ECL, EOG, EVH, FTNT, FDP, FRD, GE, GNW, HLIT, HIG, HELE, HP, HSIC, HNI, HD, HON, HOV, HWM, ITW, ITGR, JKHY, JBLU, KELYA, KLAC, LZB, LRCX, LEN, MTSI, MAN, MA, MU, MYGN, ^IXIC, NWL, NVDA, ORI, OMC, ON, OMI, PKG, PANW, PTEN, PCTY, PCG, PPG, PPL, PHM, QTWO, KWR, DGX, RLI, ^GSPC, SMG, SMTC, SCI, NOW, TGT, TDC, TER, TXN, TJX, UHAL, UNH, VMC, WRB, WSO, WU, WSM, WWD, ITA, IYK, IEZ, IDU, FTEC, FDN, QTEC, FXL, FXI, AIQ, BOTZ, QQQ, ICF, IYZ, IGV, IXN, SOXX, IHI, EWA, ECH, EEM, EWH, EIS, EWJ, EWM, EWY, EWT, QLD, PPA, DBA, SSO, XLY, SPY, XLK, XLU, UNG, SMH, 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 12/18/25. Intraday Market Direction: Nasdaq

$ $ $

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

I don't have much to say about the chart. The index is trending lower. Because a trend in motion tends to remain in motion, I'm looking for additional declines in the index.

Sometime, however, that has to change and the index will rise.

That's it!

$ $ $

Here's a symbol list of 161 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADBE, AMD, AES, ALK, AMZN, AEO, AFG, AMN, APH, AR, AAPL, ADM, AIZ, ATO, AZTA, BCPC, BSET, BSX, CDNS, CNP, CDAY, CHD, CLF, CLX, CNA, CNX, CMTL, ED, CAG, CXW, DVN, FANG, DSGR, DOV, EMN, EMR, EOG, EG, EVH, FDS, FORM, FTNT, FRD, GAP, GD, GE, GNW, GOOGL, HIG, HE, HSIC, HNI, HWM, ITW, IPAR, IBKR, JKHY, JAZZ, JBLU, KELYA, LHX, LRCX, LEN, LLY, MTSI, MANH, MKTX, MLM, MAS, MTDR, MTRX, MRCY, MGEE, MCO, MUR, ^IXIC, NJR, NTNX, ORI, OMC, ASGN, OMI, PANW, PTEN, PCTY, PFE, PCG, PGR, QTWO, RMBS, RLI, RES, ^GSPC, SAIC, SEE, SIGI, SRE, SMTC, SCI, SSYS, SNPS, TGT, TSCO, TG, UGI, VMC, FTEC, FDN, QTEC, FXL, FXI, AIQ, BOTZ, QQQ, IEV, IGV, ILF, SLV, EWA, EWZ, EWC, EEM, EIS, EWI, EWJ, EWW, EPP, EWY, EWP, EWD, EWT, THD, QLD, ROBO, XLY, XLK, USO, SMH, 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 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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