As of 04/17/2026   Indus: 49,447 +868.71 +1.8%     Trans: 22,422 +609.39 +2.8%     Utils: 1,158 -6.73 -0.6%     Nasdaq: 24,468 +365.78 +1.5%     S&P 500: 7,126 +84.78 +1.2%	YTD  +2.9%    +29.2%    +8.4%    +5.3%    +4.1%	Targets    Overview: 04/14/2026     49,800 or 46,750 by 05/01/2026   23,500 or 20,700 by 05/01/2026   1,120 or 1,200 by 05/01/2026   24,550 or 23,400 by 05/01/2026   7,250 or 6,675 by 05/01/2026
Chart Pattern Indicator: on 4/10/26

As of 04/17/2026   Indus: 49,447 +868.71 +1.8%     Trans: 22,422 +609.39 +2.8%     Utils: 1,158 -6.73 -0.6%     Nasdaq: 24,468 +365.78 +1.5%     S&P 500: 7,126 +84.78 +1.2%	YTD  +2.9%    +29.2%    +8.4%    +5.3%    +4.1%
Targets    Overview: 04/14/2026     49,800 or 46,750 by 05/01/2026   23,500 or 20,700 by 05/01/2026   1,120 or 1,200 by 05/01/2026   24,550 or 23,400 by 05/01/2026   7,250 or 6,675 by 05/01/2026
Chart Pattern Indicator: on 4/10/26

Recent Headlines Monday 4/20/26. Market Monday: The Week Ahead Friday 4/17/26. Pattern Trading Setups for the Weekend. Thursday 4/16/26. Intraday Market Direction: Nasdaq Wednesday 4/15/26. A Look at the Chart Pattern Indicator (CPI) Tuesday 4/14/26. Slider Trading Quiz! Newport (NEWP)
Older Headlines Monday 4/13/26. Market Monday: The Week Ahead Friday 4/10/26. Pattern Trading Setups for the Weekend. Thursday 4/9/26. Intraday Market Direction: Nasdaq Wednesday 4/8/26. A Look at the Chart Pattern Indicator (CPI) Tuesday 4/7/26. Slider Trading Quiz! Noven Pharmaceutical: NOVN (actual trade)	Archives April Archive March Archive February Archive January Archive All Archives

Monday 4/20/26. 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.

The inverted and descending scallop highlighted at AB sees the index climb after it completes. The pattern breaks out upward when the index closes above the top of it.

The index has climbed to post a new high, at C. However, the most recent gap is likely an exhaustion gap. So my guess is the index will retrace and perhaps make a sharp 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 either underway or should be starting soon. The sessions could be more volatile.

Here's a symbol list of 282 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACH, ACIW, AYI, ADBE, ADTN, AMD, AES, APD, ALK, ALKS, ALGT, AMZN, DOX, AEE, APH, ANIK, APA, APOG, ARCB, ACGL, AVY, BMI, BAX, BOOT, BRC, BFH, BCO, BMY, BRKR, BLDR, CALM, CX, CENX, CRL, CHKP, CVX, CHD, CSCO, CLNE, CNX, CMCO, COP, CSGP, COTY, CR, CROX, CCK, CSGS, CMI, CW, DVN, ^DJT, ^DJI, EME, EMR, EOG, EPAM, EFX, EG, EVRG, EVH, EXPI, EXPD, FAST, FDX, FLS, FORM, FWRD, FNV, FDP, GME, GAP, GPN, GFS, GL, GS, GGG, GFF, HLIT, HE, HELE, HP, HSIC, HNI, HD, DHI, HOV, HWM, IDXX, IBP, IIIN, ITGR, IBKR, TILE, IPI, KBH, KMT, KEYS, KFRC, KMB, KLAC, LHX, LZB, LH, LAMR, LDOS, LEN, LLY, LNC, RAMP, LOW, LXU, MHO, MGY, MLM, MAS, MTDR, MTRN, MTRX, MRK, MLKN, MS, MUR, NBR, ^IXIC, NFG, NEU, NI, NOC, NOVT, NTNX, NVDA, OXY, OLN, OMCL, ORCL, OR, OUT, PKE, PTEN, PG, PHM, KWR, DGX, RL, RMBS, RRC, RGS, ROK, RCKY, ROG, R, ^GSPC, SAIA, SLB, SCHW, SMTC, SKYW, SGI, SCCO, LUV, SPSC, SXI, SSYS, TPR, TECH, TDOC, TER, TXN, TKR, TSCO, RIG, TZOO, TREX, UGI, UIS, VFC, VLO, VC, VMC, WLK, WSC, WWD, IYC, IYE, IEZ, IHE, DDM, FTEC, QTEC, FXL, FXI, AIQ, BOTZ, QQQ, ICF, IYH, IHF, IXC, MXI, IXN, ILF, SOXX, SLV, IGE, IEO, ITB, EWO, EWK, EWC, ECH, EEM, EWQ, EWG, EWH, EIS, EWJ, EWM, EWS, EZA, EWY, EWD, EWL, EWT, THD, TUR, QLD, PPA, DBA, PBE, PEJ, PJP, SSO, ROBO, XLY, XLP, XLE, GLD, XLV, XHB, XLI, XRT, SPY, XLK, UNG, USO, SMH, VHT, 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 4/17/26. Pattern Trading Setups for the Weekend.

Here's a symbol list of 128 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ANF, ACIW, AMD, APD, AEE, AVY, AZTA, BAX, BKH, BSX, BRC, BRKR, BLDR, CAL, CE, CX, CRL, CHKP, CINF, CSCO, CLNE, CLX, CNX, CMCO, CAG, CSGP, COTY, DECK, DDS, ELV, EVRG, EXPI, FLEX, FTV, GAP, GIS, GPN, GFS, THG, HE, HNI, HUBG, JBHT, IIIN, JBLU, KMB, LHX, LDOS, LEN, RAMP, MHO, MLM, MLKN, MS, MOS, MUR, ^IXIC, NFLX, NWL, ORI, OMC, ON, OTEX, ORCL, PTEN, PEN, PPG, QTWO, QCOM, RTX, RNG, ROP, RES, SIGI, NOW, LUV, SXI, TDOC, TDY, TEVA, TTD, TJX, TSCO, TDG, RIG, TWLO, UIS, VLO, VRTX, VMC, WLK, WPM, XEL, FXL, FXI, AIQ, QQQ, IEV, IGV, IXC, IGE, IEO, EWY, EWL, QLD, DBA, PBE, PEJ, PXJ, SSO, SPY, XAR, USO. 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

Thursday 4/16/26. Intraday Market Direction: Nasdaq

$ $ $

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

I don't see anything of interest. I drew several trendlines connecting the bottoms. It slopes upward as if the index is going exponential.

Other than that, the chart lacks details to comment on individual patterns.

$ $ $

Here's a symbol list of 111 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACH, ACIW, ADTN, AMD, ALB, ALKS, APA, APOG, AAPL, ADSK, ADP, BIO, BCO, BMY, BRKR, BBW, BLDR, CPB, CF, CRL, CVX, CLNE, CL, CMCO, CSGS, DVN, EXP, EIX, EOG, EXPI, EZPW, FICO, FISV, FLS, FCX, FDP, GAP, GPN, GFS, HNI, HOV, JBHT, IBKR, TILE, JKHY, LEN, LXU, MHO, MGY, MSFT, MS, MLI, MYGN, ^IXIC, NFLX, NWPX, PETS, PFE, PGR, KWR, RTX, RGS, RNG, RLI, ROST, SAIA, SCHW, TDOC, TDG, TWLO, UIS, VMI, XEL, IYM, IAI, IYE, FTEC, QTEC, FXL, AIQ, IHF, IEV, IXC, MXI, ITB, EWA, EWM, EWL, THD, IBB, XLB, XAR, XLK, USO, VAW, 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

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