As of 03/24/2023
Indus: 32,238 +132.28 +0.4%
Trans: 13,707 +18.91 +0.1%
Utils: 911 +28.13 +3.2%
Nasdaq: 11,824 +36.56 +0.3%
S&P 500: 3,971 +22.27 +0.6%
|
YTD
-2.7%
+2.3%
-5.9%
+13.0%
+3.4%
|
|
As of 03/24/2023
Indus: 32,238 +132.28 +0.4%
Trans: 13,707 +18.91 +0.1%
Utils: 911 +28.13 +3.2%
Nasdaq: 11,824 +36.56 +0.3%
S&P 500: 3,971 +22.27 +0.6%
|
YTD
-2.7%
+2.3%
-5.9%
+13.0%
+3.4%
| |
| ||
I show the Nasdaq composite on the daily scale.
At A is a chart pattern called a broadening top. That's where the price swings widen over time, forming what looks like a megaphone.
B shows a similar pattern, called a broadening bottom. It's the same as the top version except for the direction price enters the pattern.
Broadening bottoms (B) breakout upward 60% of the time, according to my research of the chart pattern. That's not much above random, but that's what I found when studying over 1,000 of them.
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.
No options expire this week.
The following is based on an SFO article in December 2004 by John Seekinger, titled, "Take a two-dimensional approach." He offers these tips.
Index | S2 | S1 | Pivot | R1 | R2 |
Dow Industrials (^DJI): Daily | 31,648 | 31,943 | 32,100 | 32,395 | 32,552 |
Weekly | 31,311 | 31,775 | 32,268 | 32,731 | 33,225 |
Monthly | 30,186 | 31,212 | 32,456 | 33,482 | 34,726 |
S&P500 (^GSPC): Daily | 3,887 | 3,929 | 3,951 | 3,993 | 4,015 |
Weekly | 3,843 | 3,907 | 3,973 | 4,037 | 4,104 |
Monthly | 3,683 | 3,827 | 3,953 | 4,097 | 4,222 |
Nasdaq (^IXIC): Daily | 11,618 | 11,721 | 11,774 | 11,877 | 11,929 |
Weekly | 11,333 | 11,578 | 11,796 | 12,042 | 12,260 |
Monthly | 10,576 | 11,200 | 11,607 | 12,231 | 12,638 |
Here are the formulas:
Earnings season is over.
Here's a symbol list of 97 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AYI, ABC, APA, ASH, AZTA, BALL, BECN, BKH, BSX, CPB, CLF, CLX, CAG, COST, COTY, CR, CW, FTV, HE, HL, HSIC, HOLX, DHI, IDA, IEX, ILMN, IIIN, IPI, ISRG, JAZZ, LHX, LNC, LPLA, LXU, MANH, MTRX, MDC, MGEE, MSFT, MCO, MS, ^IXIC, NEWR, NOVT, OMCL, OXM, PYPL, PEN, PRFT, PKI, PINC, KWR, QCOM, RMBS, RRC, ^GSPC, SLB, NOW, SKX, SMAR, SWN, SCS, TDOC, TDY, TFX, TMO, RIG, WAT, WOLF, WDAY, IAI, IYK, IHE, IDU, DDM, FDN, QQQ, IYH, IYZ, IHI, EWO, EWW, EWT, QLD, DBA, PHO, SSO, XLV, SPY, USO, VHT, MGK. 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
$ $ $
Here's a symbol list of 129 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ACIW, AFL, ATSG, ALK, ALB, AEL, ABC, BECN, BERY, BKH, BAH, BCO, CNC, CF, CVX, CI, CLF, CLX, CNA, CAG, GLW, COTY, CRH, DVN, FANG, DSGR, BOOM, ELV, EOG, EVRG, EZPW, FDS, FDX, FCX, GMS, GFF, HL, HSII, HON, IPI, NVTA, KALU, KBH, LH, LAMR, LDOS, LLY, LNC, RAMP, LXU, MANH, MRO, MTDR, MTRX, MDC, MDT, MLKN, MOS, MUR, MYGN, NBR, NFLX, OXY, OMCL, OXM, PATK, PEN, PXD, PPL, QCOM, RMBS, RJF, REGN, ROL, ROST, R, SLB, SAIC, NOW, STR, SMAR, SCS, TDOC, TFX, TPX, TJX, TDG, TZOO, TWLO, SLCA, UNH, MDRX, WERN, WSM, WDAY, IYE, IEZ, IHE, FDN, FXI, IYH, IHF, IYZ, IGE, IEO, IYF, IHI, EWK, EZA, THD, EWU, PBE, PEJ, PXJ, IXC, IXN, XLY, XLE, XLF, XRT, XAR, USO, VHT, 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.
$ $ $
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
Symbol | Chart Pattern | Bullish Bearish | Start | End | Industry |
DOX | Scallop, descending | 02/15/2023 | 03/21/2023 | IT Services | |
BAH | Scallop, descending | 03/06/2023 | 03/21/2023 | IT Services | |
CX | Pipe top | 02/27/2023 | 03/06/2023 | Cement and Aggregates | |
CHKP | Triple bottom | 02/17/2023 | 03/13/2023 | E-Commerce | |
CHS | Double Top, Eve and Adam | 03/03/2023 | 03/16/2023 | Apparel | |
GFS | Triple bottom | 02/23/2023 | 03/13/2023 | Semiconductor | |
GOOGL | Double Bottom, Adam and Eve | 02/24/2023 | 03/13/2023 | Internet | |
IIIN | Triangle, symmetrical | 01/17/2023 | 03/06/2023 | Building Materials | |
PODD | Triple bottom | 02/22/2023 | 03/10/2023 | Medical Supplies | |
LMT | Double Top, Adam and Eve | 02/13/2023 | 03/08/2023 | Aerospace/Defense | |
MAS | Double Top, Adam and Eve | 02/02/2023 | 02/09/2023 | Building Materials | |
NEU | Double Bottom, Adam and Eve | 02/24/2023 | 03/15/2023 | Chemical (Specialty) | |
PEN | Pipe bottom | 03/06/2023 | 03/13/2023 | Medical Supplies | |
PHM | Double Bottom, Eve and Adam | 02/21/2023 | 03/13/2023 | Homebuilding | |
REGN | Ugly double bottom | 01/09/2023 | 02/17/2023 | Biotechnology | |
SMAR | Pipe bottom | 03/06/2023 | 03/13/2023 | E-Commerce | |
SNPS | Double Bottom, Eve and Adam | 02/21/2023 | 03/13/2023 | Computer Software and Svcs | |
TFX | Pipe bottom | 03/06/2023 | 03/13/2023 | Diversified Co. | |
VRTX | Double Bottom, Eve and Eve | 02/27/2023 | 03/08/2023 | Biotechnology | |
SOXX | Triple bottom | 02/22/2023 | 03/13/2023 | Semiconductor | |
MGK | Diamond bottom | 02/27/2023 | 03/15/2023 | None |
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 cryptocurrency Ethereum on the daily scale.
This is almost a picture perfect image of a broadening top chart pattern. It appears as price trends upward into the start of the pattern.
From there, it makes higher swings upward and lower swings downward, looking like a megaphone, B.
At A, the currency has paused. This could be a partial decline. That's when price attempts to reach the bottom line, doesn't make it, and breaks out upward immediately. The signal is correct 72% of the time.
Is that what will happen this time (an upward breakout)? Answer: I don't know. The probabilities were for stocks, not cryptocurrencies.
$ $ $
My neighbor backed into his neighbors mailbox, looked at it, and walked back to his pickup, parked it, and started washing his car as if nothing had happened.
He didn't leave a note, so I sent him an email to do the right thing and tell of the accident. Will it work?
$ $ $
Here's a symbol list of 202 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ACIW, ADBE, ADTN, AMD, AFL, ATSG, ALK, ALB, AA, AXP, ABC, AON, ACGL, AWI, ATO, ADP, AVA, AXS, BBBY, BAH, BG, CACI, CNC, CDAY, CF, CVX, CI, CLF, CLX, CNA, CAG, CONN, GLW, COTY, CRH, CROX, CCK, DHR, DVN, FANG, ^DJI, EIX, ELV, EOG, EFX, EVRG, EXPI, FDS, FDX, FE, FORM, FCX, GME, GD, GE, GMS, GFF, HQY, HL, HSII, HNI, HON, IDA, IDXX, ILMN, IBKR, IPG, NVTA, K, KBAL, KLAC, LZB, LH, LRCX, LDOS, RAMP, MANH, MRO, MA, MTDR, MTRX, MDC, MDT, MRCY, MGEE, MOS, MUR, NBR, NJR, NEE, NI, JWN, NWPX, OXY, OMCL, ON, OTEX, OXM, PATK, PAYX, PEN, PNW, PXD, POR, QCOM, RMBS, RJF, ROL, ROST, R, SLB, SAIC, SMG, SMTC, NOW, STR, SMAR, LUV, SR, SPSC, SXI, SCS, TDOC, TFX, TPX, TMO, TJX, TDG, TZOO, TWLO, UNH, VECO, VRTX, V, WSM, WWW, WDAY, XEL, IYC, IYE, IEZ, IDU, FDN, QTEC, FXL, BOTZ, IYH, IHF, IYZ, IGV, SLV, IGE, IEO, IYF, IHI, EWK, EEM, EWQ, EWG, EIS, EWI, EWS, EWL, EWT, EWU, QLD, PPA, PEJ, PXJ, IXC, IXN, ILF, XLY, XLE, XLF, XLV, XRT, XAR, XLK, XLU, VHT, 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.
$ $ $
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
© 2023 ThePatternSite.com Metric | Value | Diff | Close (within 10% of the high-low range for the day)? |
Monthly S2 | 10,486.19 | ||
Weekly S2 | 10,684.98 | 198.79 | |
Monthly S1 | 11,078.08 | 393.10 | |
Weekly S1 | 11,177.47 | 99.39 | |
Daily S2 | 11,436.46 | 258.99 | |
Weekly Pivot | 11,475.29 | 38.83 | |
Daily S1 | 11,553.21 | 77.92 | |
Monthly Pivot | 11,574.68 | 21.47 | Yes! The Monthly Pivot is close to the Daily S1. |
Low | 11,666.85 | 92.17 | |
Close | 11,669.96 | 3.11 | Yes! The Close is close to the Low. |
Daily Pivot | 11,783.60 | 113.64 | |
61.8% Down from Intraday High | 11,799.46 | 15.86 | Yes! The 61.8% Down from Intraday High is close to the Daily Pivot. |
50% Down from Intraday High | 11,840.42 | 40.96 | |
Open | 11,857.50 | 17.08 | Yes! The Open is close to the 50% Down from Intraday High. |
38.2% Down from Intraday High | 11,881.38 | 23.88 | Yes! The 38.2% Down from Intraday High is close to the Open. |
Daily R1 | 11,900.35 | 18.97 | Yes! The Daily R1 is close to the 38.2% Down from Intraday High. |
Weekly R1 | 11,967.78 | 67.43 | |
High | 12,013.99 | 46.21 | |
Daily R2 | 12,130.74 | 116.75 | |
Monthly R1 | 12,166.57 | 35.83 | |
Weekly R2 | 12,265.60 | 99.03 | |
Monthly R2 | 12,663.17 | 397.57 |
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