As of 10/03/2023
Indus: 33,002 -430.97 -1.3%
Trans: 14,682 -115.52 -0.8%
Utils: 789 +6.29 +0.8%
Nasdaq: 13,059 -248.30 -1.9%
S&P 500: 4,229 -58.94 -1.4%
|
YTD
-0.4%
+9.6%
-18.4%
+24.8%
+10.2%
|
|
As of 10/03/2023
Indus: 33,002 -430.97 -1.3%
Trans: 14,682 -115.52 -0.8%
Utils: 789 +6.29 +0.8%
Nasdaq: 13,059 -248.30 -1.9%
S&P 500: 4,229 -58.94 -1.4%
|
YTD
-0.4%
+9.6%
-18.4%
+24.8%
+10.2%
| |
| ||
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.
We're back to two bearish bars separated by neutral ones.
Notice at the bottom of the chart, the thin blue CPI line. It's either at 0 or close to it. That's bearish but it could also mean that the only direction to go is up.
In the past, the time spent at 0 is brief. That suggests this drop is near an end. Of course, that's just a guess.
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).
On Tuesday, 48% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).A week ago, it was 43%.The fewest was 26% on 07/31/2023.And the most was 76% on 10/14/2022.
The 522 stocks in my database are down an average of 22% from their yearly high.A week ago, the average was 21%.The peak was 14% on 07/31/2023.And the bottom was 33% on 10/14/2022.
Both lines this week are worse off compared to a week ago. No surprise there. The lines are convergent, too, so they are saying, "Look out below!"
Based on underlying support, it looks as if the Dow could drop to 32,600 before rebounding. By that, I mean the 32,600 level is the next level of good support. It might not be enough to stop the tumble, though. I still believe the drop is about over. I'm bullish and have been adding to existing positions.
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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: DDD, MMM, AXDX, ACIW, AMD, AES, ALB, ALKS, ALL, AMED, AMWD, APH, APA, ANET, AIZ, AGO, BAX, BECN, BZH, BERY, BBY, BSX, BRC, BBW, BLDR, CPB, COR, CDAY, CHKP, CIEN, CINF, CLNE, CNA, CNO, CTSH, CMTL, CONN, COTY, CCRN, DSGR, DOV, BOOM, EMR, FARO, FWRD, FCX, GME, GPS, GE, GPN, GS, GES, HLIT, HIG, HE, HD, ITGR, IRM, JAZZ, JBLU, KALU, KBH, KELYA, KFRC, KSS, LHX, LEN, MCHX, MAS, MDC, MDT, MRCY, MS, NEWR, NWL, NKE, NVDA, OLN, ON, OMI, PANW, PCTY, PEN, PETS, PNW, PFG, PHM, PSTG, RL, RGA, RNG, RHI, RCKY, SAND, SCHW, SMG, SEIC, SIGI, SUM, TEVA, TJX, TDG, RIG, TG, UGI, UIS, UNM, VLO, WEX, WPM, WWD, IYM, IAI, IYE, FXI, IYH, IAT, IEV, IXC, MXI, ILF, IEO, EWA, EWO, EWK, EWC, EEM, EWQ, EWG, EWH, EWI, EWJ, EPP, EWS, EZA, EWD, EWL, THD, TUR, EWU, PBE, PJP, XLE, XHB, 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.
-- Thomas Bulkowski
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I show another slider trading quiz featuring Three falling peaks.
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Here's a symbol list of 155 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, MMM, ANF, AXDX, ADTN, AFL, ALB, ALKS, AFG, APA, ACGL, ADP, AVY, AVA, BECN, BBY, BIIB, BFH, CACI, CPB, CNC, CNP, CIEN, CINF, CTAS, CNA, CNO, CMTL, CR, CRH, CSGS, CW, DHR, DVN, DOV, EXP, EME, EMR, EOG, FIS, FE, FORM, GE, GFS, GMS, GS, GFF, GES, HLIT, HE, HELE, DHI, HWM, IDA, ITGR, IBKR, TILE, IPG, NVTA, IRM, JAZZ, JNJ, KMT, KSS, LH, LANC, RAMP, MRO, MRTN, MAS, MDC, MDT, MRCY, MLKN, MS, MOS, MLI, MUR, MYGN, NBR, NEWR, NEE, OXY, ORI, OLN, ASGN, OR, OMI, PDCO, PEN, PNW, PXD, POR, PINC, DGX, RCKY, SAND, SLB, SMG, SEIC, SIGI, SKYW, SWX, SPLK, SXI, TDG, RIG, UIS, UNH, VMI, VMC, WPM, WMB, WSC, IYE, IYH, IAT, IXC, IXN, SLV, IGE, IEO, EWZ, EWJ, EWM, EWL, THD, TUR, EWU, PPA, PBE, PXJ, PJP, XLE, GLD, XLU, 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.
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The following table shows where Fibonacci retrace values of the day's high-low range are plus pivot points, calculated on the Dow industrials, 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 | 32,172.71 | ||
Monthly S1 | 32,803.03 | 630.32 | |
Weekly S2 | 32,874.50 | 71.46 | |
Daily S2 | 33,095.92 | 221.43 | |
Weekly S1 | 33,153.92 | 58.00 | |
Low | 33,219.56 | 65.64 | |
Daily S1 | 33,264.64 | 45.08 | |
61.8% Down from Intraday High | 33,331.24 | 66.60 | |
50% Down from Intraday High | 33,365.73 | 34.50 | |
Daily Pivot | 33,388.27 | 22.54 | Yes! The Daily Pivot is close to the 50% Down from Intraday High. |
38.2% Down from Intraday High | 33,400.23 | 11.96 | Yes! The 38.2% Down from Intraday High is close to the Daily Pivot. |
Close | 33,433.35 | 33.12 | |
Open | 33,455.50 | 22.15 | Yes! The Open is close to the Close. |
High | 33,511.91 | 56.41 | |
Daily R1 | 33,556.99 | 45.08 | |
Weekly Pivot | 33,585.73 | 28.74 | Yes! The Weekly Pivot is close to the Daily R1. |
Daily R2 | 33,680.63 | 94.90 | |
Weekly R1 | 33,865.15 | 184.53 | |
Monthly Pivot | 33,936.62 | 71.47 | |
Weekly R2 | 34,296.96 | 360.34 | |
Monthly R1 | 34,566.94 | 269.98 | |
Monthly R2 | 35,700.53 | 1,133.59 |
Here's the updated 2023 forecast, presented in slider format.
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 | 33,117 | 33,312 | 33,603 | 33,798 | 34,089 |
Weekly | 32,899 | 33,203 | 33,610 | 33,915 | 34,322 |
Monthly | 32,197 | 32,852 | 33,961 | 34,616 | 35,725 |
S&P500 (^GSPC): Daily | 4,240 | 4,264 | 4,299 | 4,323 | 4,357 |
Weekly | 4,189 | 4,238 | 4,288 | 4,338 | 4,388 |
Monthly | 4,053 | 4,171 | 4,356 | 4,473 | 4,659 |
Nasdaq (^IXIC): Daily | 13,054 | 13,137 | 13,260 | 13,343 | 13,466 |
Weekly | 12,769 | 12,994 | 13,188 | 13,414 | 13,608 |
Monthly | 12,258 | 12,738 | 13,444 | 13,925 | 14,630 |
Here are the formulas:
Earnings season is over.
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: ANF, AXDX, ACIW, AFL, APD, AA, ALKS, AYX, DOX, AEO, AXP, AME, AMAT, ACGL, AWI, ADP, AVY, AVA, BSET, BECN, BZH, BIG, BRC, BR, CACI, CAL, CLS, CX, CNP, CENX, CRL, CIEN, CTAS, CNO, CL, CONN, COTY, CR, CRH, CCRN, CMI, CW, DVN, DSGR, ^DJI, DOV, EXP, EBAY, EME, WIRE, EOG, EPAM, EL, FAST, FIS, FISV, FORM, FWRD, GME, GD, GE, GFS, GL, GMS, GS, GFF, HIG, HAYN, HTLD, HWM, HUBG, HUN, IIIN, PODD, ITGR, TILE, IPG, KMT, KLAC, LANC, LMT, MHO, MRO, MRTN, MU, MS, MLI, MYGN, NBR, ^IXIC, NTGR, NEWR, NEU, JWN, OXY, ORI, ASGN, OTEX, PATK, PDCO, PTEN, PCG, PNW, PXD, PINC, PSTG, QTWO, RMBS, RLI, ROP, SAND, SLB, SAIC, SIGI, NOW, SHOP, STR, SKYW, SMAR, SPLK, TFX, TER, TDG, TRV, UHAL, VFC, VMI, MDRX, V, VMC, WRB, WMT, WMB, WSC, IAI, IYC, IYE, IEZ, IHE, DDM, FTEC, QQQ, IYH, IHF, IAT, IEV, IXC, IXN, ILF, SLV, IGE, IEO, IYF, EWO, EWK, EWZ, EWG, EWH, EWI, EWM, EPP, EZA, EWY, EWU, QLD, IBB, PPA, PXJ, PJP, ROBO, XLY, XLP, XLF, XLV, XLI, XLK, VHT, VIS, 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.
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-- Thomas Bulkowski
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