Bulkowski's Blog: ThePatternSite.com
As of 01/21/2020
  Indus: 29,196 -152.06 -0.5%  
  Trans: 11,075 -203.84 -1.8%  
  Utils: 917 +8.80 +1.0%  
  Nasdaq: 9,371 -18.13 -0.2%  
  S&P 500: 3,321 -8.84 -0.3%  
YTD
 +2.3%  
 +1.6%  
 +4.3%  
 +4.4%  
 +2.8%  
  Targets    Overview: 01/14/2020  
  Up arrow29,500 or 28,300 by 02/01/2020
  Up arrow11,500 or 10,700 by 02/01/2020
  Up arrow925 or 850 by 02/01/2020
  Up arrow9,600 or 8,900 by 02/01/2020
  Up arrow3,350 or 3,200 by 02/01/2020
As of 01/21/2020
  Indus: 29,196 -152.06 -0.5%  
  Trans: 11,075 -203.84 -1.8%  
  Utils: 917 +8.80 +1.0%  
  Nasdaq: 9,371 -18.13 -0.2%  
  S&P 500: 3,321 -8.84 -0.3%  
YTD
 +2.3%  
 +1.6%  
 +4.3%  
 +4.4%  
 +2.8%  
  Targets    Overview: 01/14/2020  
  Up arrow29,500 or 28,300 by 02/01/2020
  Up arrow11,500 or 10,700 by 02/01/2020
  Up arrow925 or 850 by 02/01/2020
  Up arrow9,600 or 8,900 by 02/01/2020
  Up arrow3,350 or 3,200 by 02/01/2020

 

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Wednesday 1/22/20. A Look At Indicators

Picture of the chart pattern indicator

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.

The indicator shows a bullish signal as the most recent one. That's the vertical green bar on the far right of the chart.

However, look at the indicator line. That's the thin blue line at the bottom of the chart. It's heading down. It looks to be in the neutral zone right now.

As I've mentioned before in other posts, a big move higher could change the line from down to up, so what you see may not be real for up to a week. Still, if the trend continues, it's bearish.

Picture of the percent down indicators

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).

Shown as a red line on the above chart...
On Tuesday, 22% of stocks in my database are in bear market territory (down at least 20% from their 1-year high).
A week ago, it was 23%.
The fewest was 21% on 01/16/2020.
And the most was 57% on 01/23/2019.
Shown as a blue line on the above chart...
The 491 stocks in my database are down an average of 12% from their yearly high.
A week ago, the average was 13%.
The peak was 12% on 01/16/2020.
And the bottom was 24% on 01/23/2019.

Both lines show improvement over the prior week at this time.

The bad new is, well, there really isn't any except to say that both lines have turned down today.

To me, the charts suggest the indices will retrace a portion of their gains in the coming days.

-- Thomas Bulkowski

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Tuesday 1/21/20. Slider Quiz: Head-and-Shoulders Top

I show a another slider quiz featuring the Head-and-shoulders top chart pattern.

-- Thomas Bulkowski

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Monday 1/20/20. Holiday Slider Quiz! Diamond Bottom

I show a another slider quiz featuring the diamond bottom chart pattern.

-- Thomas Bulkowski

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Support this site! Clicking any of the books (below) takes you to Amazon.com. If you buy ANYTHING while there, they pay for the referral.

My novels:  Bumper's Story Head's Law

Chart Patterns: After the Buy Getting Started in Chart Patterns, Second Edition Trading Basics Fundamental Analysis and Position Trading Swing and Day Trading Visual Guide to Chart Patterns Encyclopedia of Candlestick Charts Encyclopedia of Chart Patterns 2nd Edition Trading Classic Chart Patterns

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