As of 04/22/2024   Indus: 38,240 +253.58 +0.7%     Trans: 15,224 +140.68 +0.9%     Utils: 883 +7.72 +0.9%     Nasdaq: 15,451 +169.30 +1.1%     S&P 500: 5,011 +43.37 +0.9%	YTD  +1.5%   -4.2%    +0.2%    +2.9%    +5.0%	Targets    Overview: 04/12/2024     39,800 or 37,150 by 05/01/2024   16,200 or 15,000 by 05/01/2024   885 or 850 by 05/01/2024   16,700 or 15,800 by 05/01/2024   5,250 or 5,025 by 05/01/2024
Chart Pattern Indicator: on 4/1/24

As of 04/22/2024   Indus: 38,240 +253.58 +0.7%     Trans: 15,224 +140.68 +0.9%     Utils: 883 +7.72 +0.9%     Nasdaq: 15,451 +169.30 +1.1%     S&P 500: 5,011 +43.37 +0.9%	YTD  +1.5%   -4.2%    +0.2%    +2.9%    +5.0%
Targets    Overview: 04/12/2024     39,800 or 37,150 by 05/01/2024   16,200 or 15,000 by 05/01/2024   885 or 850 by 05/01/2024   16,700 or 15,800 by 05/01/2024   5,250 or 5,025 by 05/01/2024
Chart Pattern Indicator: on 4/1/24

Friday 4/29/22. Critical Patternz Bug Fix

John Haeger reports that when getting quotes from yahoo, the program hung (it used to work fine but no longer). An investigation into the problem highlighted a bug in the code that appeared after getting an unusual response from yahoo. The new Patternz program (4/29/2022 version 7.0.0.36) fixes the bug.

Don't run the program until you replace it with the new version.

Many thanks to John for reporting this, and sorry for the inconvenience.

-- Thomas Bulkowski

$ $ $

Friday 4/29/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 69 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ADTN, AEO, AEL, AMGN, ADM, AIZ, BCPC, BSET, BA, BBW, BG, CLS, CHD, CTXS, CNO, CLR, CTS, FLS, GGG, HLIT, HSC, HIG, HQY, HP, IVC, JAZZ, JBLU, LH, LXU, MRTN, MTRN, FB, MGEE, NBR, NCR, NJR, NWPX, OLN, PTEN, PYPL, PCG, QCOM, RJF, RGS, RES, SUM, TGT, TDOC, TFX, TER, UGI, VC, ITA, ICF, SLV, EWZ, PPA, PJP, IXC. Clink 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 4/28/22. Cryptocurrency: Bitcoin (BTC-USD)

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 bitcoin (BTC-USD) on the daily scale.

The currency at AB looks to be forming a double bottom. It will confirm as a valid chart pattern when the currency closes above the red line at C.

If that happens, the measure rule for the pattern suggests a rise to about 57,000. That's the height of the chart pattern from A to C added to C. Such a large move looks like wishful thinking but it would certainly make holders of the currency happy (at least some of them).

$ $ $

Here's a symbol list of 104 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADTN, AEIS, ALKS, DOX, AEO, ANIK, AMAT, ADM, BBBY, BA, BFH, BG, CHKP, CIEN, CLR, COTY, CSGS, DDS, DFS, EVH, EXC, EXPD, EZPW, FFIV, FLS, GE, GNW, GPN, GOOGL, HLIT, HE, HTLD, HP, IEX, INFN, TILE, IVC, JBLU, KMT, KFRC, KLIC, LXU, MGEE, MSFT, MLKN, MS, NBR, NCR, NFLX, NJR, NWPX, OLN, OMC, OUT, PTEN, POR, RJF, RGS, RCKY, RES, SAIA, SMTC, SLGN, SKX, SXI, SSYS, SUM, SRDX, TDC, UGI, V, ITA, IYM, FXI, IYZ, SLV, IHI, EWH, EIS, EWI, EWW, EWP, EWD, THD, IBB, PPA, PEJ, PJP, IEV, MXI, GLD. Clink 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

Wednesday 4/27/22. A Look At Indicators

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 turned bearish almost a week ago. If you look at the indicator line near the bottom of the chart, it shows the CPI near 0 (it's at 1.9%), with 0 being the lowest it can go.

The good news about this chart is that the indicator doesn't stay low for long. This is earnings season and from what we've seen, the market is skittish about earnings, especially from tech companies. So this period might look like late November where the CPI went sideways for a week or so even as the index dropped.

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).

Both line set a new record for the worst performance in a year. If the trend is your friend, then it means to stay short (bearish).

Arguably, we have a bearish CPI chart and this chart is also bearish. I'm still in favor of buying the dip but it may become a question of how low the dip goes (and when it ends). Certainly the drops of the last several days have surprised me. I'm hoping some of the more notable companies will have good earnings, but Google after the close, announced disappointing earnings. So I expect the Nasdaq to get clobbered at the opening. It might recover, but who knows?

$ $ $

Here's a symbol list of 132 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, AFL, DOX, AEO, AIG, ANIK, AMAT, AGO, AXS, AZTA, BCPC, BG, CACI, CALM, CNC, CRL, CHD, CIEN, CL, CLR, COST, CRH, CROX, CCRN, CSGS, CMI, CW, EMR, EQT, RE, EVH, EZPW, FLS, FMC, FRD, GE, GNW, GL, HSC, HL, HP, HOLX, ILMN, INFN, IIIN, INTC, TILE, JBLU, K, KLIC, LAWS, LXU, MRTN, MTRN, MTRX, MRK, MGEE, MSFT, MLKN, NBR, NFLX, NEE, NOC, OLN, OUT, PTEN, PFE, PFG, PG, PRU, KWR, RJF, RGS, RES, SAIA, SAIC, SEE, SMTC, SKX, SCCO, SSYS, SRDX, SNPS, TPX, TDC, TEVA, TMO, TZOO, SLCA, UGI, WRB, ITA, IYM, IYZ, SLV, IGE, EWO, EWZ, EIS, EWI, EWW, EZA, EWP, EWD, EWL, THD, PEJ, IEV, ILF, XLF, XLB, VAW. Clink 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

Tuesday 4/26/22. Slider Trading Quiz! Northwest Pipe 2 (NWPX)

$ $ $

I show another slider trading quiz featuring Northwest Pipe 2 (NWPX) stock.

$ $ $

Here's a symbol list of 186 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, AXDX, ADTN, AFL, ATSG, ALK, AIG, AMWD, AMN, APH, APOG, AMAT, ACGL, ASH, AGO, AVA, AXS, AZTA, BCPC, BSET, BECN, BIO, BMRN, BKNG, BRC, BFH, BLDR, CBT, CACI, CALM, CAL, CPB, CE, CF, CRL, CVX, CHS, CIEN, CINF, CSGS, CTS, CMI, DRQ, EXP, EMR, RE, EVH, FE, FLEX, FLS, FTNT, FWRD, FCX, FRD, GIS, GNW, GPRO, GGG, HBI, THG, HLIT, HSC, HIG, HL, HELE, HOLX, DHI, INFN, IBP, IIIN, TILE, NVTA, KMT, LH, LDOS, LEN, LLY, RAMP, LXU, MAS, MTRN, MGEE, MOS, MUR, NBR, NOV, NCR, NFLX, NEU, NXGN, NWPX, OLN, OUT, OXM, PLXS, POR, PPL, PINC, PFG, PEG, PHM, KWR, RL, REV, SAIA, SMTC, SLGN, SKX, SO, SCCO, LUV, SCS, SSYS, SUM, SRDX, TPR, TDC, TMO, TKR, RIG, TG, SLCA, VMC, WAT, WLK, WWW, ITA, IYM, IYC, ITB, IEZ, IDU, QTEC, FXI, IYZ, SLV, EWA, EWK, EWZ, EWC, EEM, EWG, EWH, EIS, EWI, EWM, EWW, EPP, EZA, EWY, EWP, EWD, EWL, THD, EWU, PPA, DBA, PEJ, IEV, IXN, ILF, MXI, XLF, GLD, XHB, XLI, VAW. Clink 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 Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Monday 4/25/22. 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 the S&P 500 index on the daily scale.

Not much happens on this chart. The bottom red trendline supports the index at several minor lows.

The top trendline, A, isn't really a trendline at all. It's a technique to draw a preliminary channel. It shows where the index, if it were to recover, might find overhead resistance.

If you use Andrew's pitchfork, you can draw the blue line, which bisects the channel. It also shows where the index might find resistance.

What does the chart suggest will happen next week? My computer informs me that on a percentage basis, the Dow industrials made 27 similar moves. On 19 occasions, the index climbed the next day by an average of 2% (the other 8 times, the index lost an average of 0.7%).

Based on that and seeing that the index is resting on support, I'd expect a bounce on Monday.

$ $ $

I released a new version of patternz: 7.0.0.35. It has bug fixes and a more polished algorithm for rounding bottoms. Let me extend my thanks to Siamak Talebian for numerous suggestions to improve the program.

$ $ $

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 245 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACIW, ADBE, ADTN, AFL, ATSG, AKAM, ALK, AA, ALL, AMED, AXP, AIG, APH, ANIK, APOG, ATR, ACGL, ADM, ASH, AIZ, AGO, ADP, AXS, AZTA, BCPC, BECN, BERY, BIO, BMRN, BFH, BBW, BLDR, BG, CBT, CACI, CDNS, CALM, CAL, CPB, CE, CLS, CNP, CENX, CIEN, CLX, CNA, CNO, CL, CMTL, COP, CLR, COST, CCRN, CSGS, DVN, ^DJT, ^DJI, DOV, WIRE, EQT, EVH, FLEX, FMC, FTNT, FWRD, FCX, GPS, IT, GD, GIS, GILD, GS, GPRO, HBI, HIG, HQY, HL, HELE, HP, HOLX, HD, DHI, IEX, IDXX, ITGR, IBKR, ISRG, JAZZ, KMT, KFRC, KMB, KLAC, LANC, LLY, LNC, RAMP, LOW, MHO, MRO, MLM, MAS, MTRN, MGEE, MS, NCR, NFLX, NTAP, NJR, NEE, NXGN, NKE, NWPX, OXY, OGE, ORI, ASGN, OTEX, OUT, OMI, PDCO, PTEN, PAYX, PLXS, POR, PPL, PFG, PRU, PEG, PHM, KWR, RJF, RGA, REV, ROST, RES, ^GSPC, SEE, SEIC, SMTC, SHW, SKX, SO, LUV, SWN, SXI, SCS, SUM, TGT, TECH, TFX, TDC, TXT, TKR, TJX, RIG, TRV, TG, UGI, VLO, VRTX, VC, WRB, WLK, WEX, WOLF, WWW, IYM, IAI, IYC, ITB, DDM, BOTZ, ICF, IYH, IHF, IAT, IYZ, SLV, IGE, IEO, IYF, IHI, EWA, EWO, EWZ, EWC, ECH, EWQ, EWG, EWI, EWM, EPP, EZA, EWP, EWD, EWL, EWU, PPA, PEJ, PJP, PHO, ROBO, IEV, IXC, ILF, MXI, XLV, XHB, XLI, XLB, XRT, VIS, VAW. Clink 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 4/22/22. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 239 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACIW, ADTN, AES, AFL, ATSG, AKAM, ALK, AA, ALL, AMED, AEO, AXP, AIG, APH, ANIK, ANTM, APOG, ACGL, ADM, ARW, ASH, AIZ, AGO, ADP, AZTA, BECN, BBBY, BIG, BIO, BMRN, BFH, BMY, BBW, BLDR, BG, CBT, CDNS, CAL, CE, CLS, CNP, CENX, CF, CIEN, CNO, CMTL, COP, CLR, COST, CROX, CCRN, CSGS, CTS, CMI, CW, XRAY, DVN, ^DJI, BOOM, EMN, WIRE, EFX, EQT, EZPW, FOE, FE, FLEX, FMC, FTNT, FWRD, FCX, GPS, IT, GD, GNW, GS, GPRO, HBI, HLIT, HIG, HQY, HELE, HP, HD, IDXX, IIIN, ITGR, IBKR, ISRG, JAZZ, JBLU, KMT, KFRC, KLAC, KSS, LHX, LAWS, LLY, LNC, LOW, LXU, MHO, MNDT, MRO, MLM, MTRN, MDC, MGEE, MS, NCR, NFLX, NTGR, NTAP, NJR, NWL, NEE, NXGN, NKE, NWPX, NUS, OXY, ORI, ASGN, OTEX, PTEN, PAYX, PFE, PLXS, PFG, PRU, PHM, KWR, RGS, RGA, REV, RLI, ROST, RES, SLB, SMG, SEE, SEIC, SIGI, SKX, SCCO, LUV, SWX, SWN, SUM, SRDX, TGT, TECH, TFX, TDC, TEVA, TXT, TKR, TJX, RIG, TRV, TG, VLO, VMI, VRTX, VC, WRB, WSO, WLK, WEX, WOLF, WWW, IYM, IAI, ITB, DDM, IYH, IHF, IAT, SLV, IGE, IEO, IYF, EWA, EWK, EWZ, EWC, ECH, EEM, EWQ, EWG, EWY, EWL, EWU, PXJ, PJP, PHO, IXC, ILF, MXI, XLE, XLV, XHB, XLB, VHT, VAW. Clink 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 4/21/22. Intraday Market Direction: Nasdaq

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 the Nasdaq composite on the 5-minute scale.

At AB the composite tried to complete a measured move up chart pattern (red line), but the second leg (straight line up to B) didn't rise far enough to equal the first leg (straight line up from A). To me, that suggests weakness.

After that, the composite moved sideways to down and formed a channel, C, shown here in blue.

If I had to guess, I think the index has moved along the channel long enough and it's going to breakout. Which direction? Another guess: up. It couldn't do it at B, so it gathered strength at C. Maybe it'll surge higher for another try.

$ $ $

Here's a symbol list of 167 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ACN, AEIS, ATSG, ALK, AMZN, AEE, AEO, ABC, APOG, ASH, ATO, ADP, AVNT, BMI, BCPC, BECN, BBBY, BIO, BIIB, BMRN, BKH, BAH, BFH, BLDR, BG, CBT, CAL, CLS, CX, CENX, CHS, CLNE, CMTL, ED, CROX, CMI, CW, ^DJU, DTE, DUK, BOOM, EMN, EIX, EMR, EFX, EXC, EZPW, FFIV, FOE, FE, FLEX, FWRD, FRD, GPS, IT, GNW, GL, GS, GGG, EVRG, HBI, HELE, HOLX, HON, IDXX, ILMN, INFN, IBKR, IPG, KMT, KFRC, KSS, LDOS, LLY, LNC, LOW, MHO, MAN, MGEE, MS, MLI, NCR, NFLX, NJR, NWL, NEE, NKE, NVDA, OTEX, PKG, PANW, PFE, PCG, PNW, PPL, PG, PRU, PEG, PHM, RGS, RGA, REV, RLI, ROG, ROST, CRM, SLB, SIGI, SKX, LUV, SSYS, SUM, TFX, TKR, RIG, TG, UNM, VMI, VRSN, WMT, WLK, WEX, WOLF, WWW, WDAY, IAI, IYK, IDU, IGE, EEM, EWW, EWP, EWT, ROBO, ILF, XLP, XLU, UNG, USO. Clink 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

Wednesday 4/20/22. A Look At Indicators

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.

Two days ago, the CPI signaled a turn upward, which is a bullish signal. That's the vertical green bar on the far right of the chart. Since then, the index has responded by shooting upward today (Tuesday). Of course, that upward move may have flipped some of the chart patterns waiting on the sidelines, creating a signal the day before.

How can today generate a signal yesterday? Answer: Fancy math and signals can change for up to a week. So a large down move on Wednesday can wipe away the green bar.

Regardless, the green bar is bullish. The thin blue line at chart bottom, the CPI line, is also moving higher at a good clip. That's bullish, too.

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).

Both lines show improvement this week. We still have a long way to go to reverse the downward trend of the indicator from the left of the chart to the right.

That bearish divergence is worrisome but it hasn't stopped the index from climbing between June and January. It looks ineffective. Let's ignore it.

Both charts are bullish this week, the above chart less so than the CPI chart. I'm looking for the retrace to have ended and expect a continued rise in the index over the next week.

$ $ $

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: MMM, ATSG, ALRM, ALK, AFG, APA, APOG, ARCB, ARW, ADSK, BMI, BCPC, BECN, BERY, BBY, BIIB, BMRN, BOOT, EPAY, BRC, BFH, BBW, BLDR, CBT, CENX, CHKP, CIEN, CLF, CTSH, CMCO, COTY, CROX, CW, DHR, DFS, EMN, EBAY, EMR, EL, EZPW, FDS, FDX, FOE, FWRD, FDP, FRD, GE, GS, GGG, HBI, HSC, HIG, HTLD, HSY, DHI, IEX, IDXX, IBP, TILE, INTU, NVTA, JKHY, JAZZ, KMT, KFRC, KBAL, KMB, KSS, LANC, LEG, LLY, MHO, MAN, MCHX, MDC, MGEE, MLKN, MLI, NFG, NCR, NFLX, NEU, NKE, PANW, PKE, PATK, PRFT, PFE, PCG, PFG, PHM, RJF, RGS, REV, RHI, SLB, SMG, SEE, SIGI, SHW, SKX, LUV, SUM, SNPS, TPX, TDC, TXN, TKR, RIG, TRV, TG, VFC, VEEV, WSO, WLK, WEX, WSM, WOLF, WWW, ITA, IAI, IYC, ITB, IEZ, DDM, QTEC, FXL, ICF, IYH, IYZ, IYF, IHI, EEM, EWQ, EWG, EWP, EWD, EWL, EWU, DBA, PEJ, PHO, ROBO, IEV, ILF, MXI, XHB, VAW. Clink 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

Tuesday 4/19/22. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Northwest Pipe: NWPX (1-2-3 trend change, 2B) stock.

$ $ $

Here's a symbol list of 137 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEIS, AES, APD, ATSG, APH, ANIK, AAPL, AMAT, AXS, BSET, BECN, BKH, EPAY, CPB, CENX, CRL, CIEN, CGNX, CONN, COP, CCRN, CTS, XRAY, DOV, EIX, EPAM, EQT, EZPW, FLEX, FORM, FTNT, GPRO, GGG, THG, HE, HAYN, HL, HELE, HOLX, HD, IDA, IEX, IDXX, INFN, IIIN, ISRG, IVC, NVTA, KELYA, KBAL, LZB, LDOS, LOW, MGEE, MSFT, MS, NBR, NFG, NCR, NWL, NXGN, OXY, OTEX, OXM, PETS, PNW, PG, PGR, KWR, RGS, REV, RHI, SAIA, SLB, SEIC, SIGI, NOW, SHW, SWX, SCS, SRDX, SNPS, TGT, TPX, TDC, TXN, TJX, TOL, TSCO, VEEV, VRSN, V, WRB, WSM, WOLF, WDAY, ITA, IAI, IYE, IEZ, IHE, FDN, FXL, FXI, BOTZ, IYH, IGV, SLV, IYF, IHI, EEM, EWM, EWW, EPP, EWS, EZA, EWD, EWL, EWT, DBA, PBE, PXJ, PHO, ROBO, XHB, UNG. Clink 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 Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Monday 4/18/22. 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 the Nasdaq composite on the daily scale.

The red trendline (A) is composed of just two touches, near the start of the line, so it's not something that carries a lot of weight. However, I find them useful.

Lines such as the red one shows where overhead resistance might put an end to any upward move, at least temporarily. As the chart shows, we're a long way from that happening.

The blue lines (B) outline a broadening bottom chart pattern. It has three trendline touches on the top and two on the bottom.

Because the index is midway across the pattern (vertically), I think it's time for a pause. After that, the index could continue lower until it touches the bottom line, or it could reverse and head upward.

A closer look at the chart shows that it has already paused where it is, for four days now. It's unclear what direction the index will move from here on out.

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 20 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AES, AXS, CENX, CGNX, FLEX, HAYN, HL, ISRG, MA, MSFT, NWL, OXY, SCS, SNPS, TGT, TPX, VEEV, VRSN, V, EWW. Clink 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 4/15/22. Market Holiday. Feeding ThePatternSite.

Today is a trading holiday in the US.

If you wish to support the website, then try one of these options.

1. Perhaps the best way is come to this site and click on an image of one of my books. You'll find the images at the bottom of the page. The click will take you to Amazon.com. The link passes a code to them and I receive a small referral fee but only if you buy something while there during the visit. You do NOT need to buy the book. It's just a method to get you to Amazon with the referral code.

   So each time you want to use Amazon.com to buy something, come to this site first. The referral is free (it does not increase the cost of anything you buy), it's easy to do, and it supports this site.

2. Finally, you can donate to the site directly. The home page (and some other pages as well) has a Donate link at the bottom of the page. For a limited time and while supplies last, I'll throw in a free book to those with addresses in the US who donate $100 or more. See the donate page for details.

Thanks! -- Tom Bulkowski

Thursday 4/14/22. Cryptocurrency: ETH-USD

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 the cryptocurrency ETH-USD on the daily scale.

A check of my posts says it's been a while since I commented on Ethereum cryptocurrency. So let's look at the chart.

I drew a red trendline along the peaks to see how the currency lined up. It can give hints of future direction.

At A and B we see the coin trying to rise above the trendline and struggling to maintain the advance (and failing at A but it's too soon to say it failed at B).

What's interesting is that the attempt was made. It suggests to me a bullish drive upward is coming.

To be fair, if you draw the red line higher, so it touches the tops of A and B, you'd see the same setup as C and D on this chart. Without redrawing the trendline, we see the coin touching the line and dropping. That scenario (a drop) can happen again. Indeed, it might take another drop before we see a push upward that forces the coin through the trendline.

We also see a potential head-and-shoulders bottom forming. That's a bullish pattern and it adds to the evidence of a bullish push.

$ $ $

Here's a symbol list of 138 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AYI, AES, DOX, AEL, AFG, AIG, AMWD, ASH, AIZ, AGO, ATO, AVNT, AVA, AXS, BAX, BZH, BERY, BIG, BA, BAH, BFH, CBT, CAL, CE, CENX, CTXS, CGNX, CTSH, ED, GLW, CRH, CCRN, XRAY, DDS, DRQ, EOG, EZPW, FLEX, FDP, GPS, IT, GNW, GPN, GS, HIG, HAYN, HTLD, HL, HNI, HD, DHI, JBHT, IBKR, IPG, ISRG, IVC, KBAL, LHX, LEN, L, M, MCHX, MA, MGEE, MSFT, MLKN, MLI, MYGN, NWL, NKE, JWN, OXY, OMCL, PATK, PYPL, PETS, PNW, PFG, PEG, RJF, RGA, SEIC, SIGI, LUV, SWX, SWN, SCS, SUM, SNPS, TGT, TFX, TPX, TXT, TZOO, UNM, VEEV, VRSN, V, WAT, WSM, IYK, IEZ, IGE, EWA, EWO, EWK, EWG, EWH, EWI, EWJ, EWM, EWW, EZA, EWY, EWP, EWT, IBB, PBE, PXJ, PHO, ROBO, IEV, XLF, VIS. Clink 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

Wednesday 4/13/22. A Look At Indicators: Bearish

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.

What a difference a few days makes. I thought this week would be bullish (as of Friday). Now, it looks bearish.

Let's take a closer look, starting with the chart.

The indicator turned bearish about 10 days ago, just after the index peaked near the start of April. Since then, the index has dropped, retracing the move up from the March low.

The flag pattern I saw on Friday night turned into a down-sloping channel today. It appears the index will continue retracing but the decline should be over shortly, based on a 50% retrace. Maybe that's wishful thinking.

So expect the decline to continue for a bit more before a rebound.

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 this chart, both lines are worse than they were a week ago. They continue a downtrend that has been is existence for about a year (beyond this chart).

However, if we look at the pattern forming, we might say there's a complex head-and-shoulders bottom forming. I'd draw it but I'm about to be clobbered by storms. Quickly, the left shoulder is the valley in January, right shoulder is the current drop, with a dual head in Feb and March.

If that pattern behaves like it should, we'll see the index move higher. However, the chart pattern hasn't confirmed yet, so it's just squiggles on the chart. We'll have to wait and see if it plays out as I hope it will.

$ $ $

Here's a symbol list of 137 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, AES, ATSG, AMWD, ABC, AMGN, ANTM, AON, AAPL, AMAT, AGO, ATO, ADSK, AXS, BIG, EPAY, CENX, CHS, CIEN, CNA, CGNX, CONN, CLR, COTY, DFS, DTE, EXP, EBAY, EQT, EVH, EZPW, FICO, FAST, FDX, FLEX, GS, GOOGL, GPRO, EVRG, HBI, HAYN, HL, HP, IDXX, ILMN, INFN, IPG, ISRG, JKHY, KFRC, LH, LRCX, LAMR, LDOS, MAN, MRO, MRTN, MLM, MA, MDC, MRK, MGEE, MSFT, MCO, MUR, MYGN, NBR, NJR, NWL, NI, JWN, OXY, OUT, PAYX, PYPL, PETS, PFE, REV, RNG, RCKY, SAIA, SMG, SEIC, SIGI, LUV, SCS, SNPS, TGT, TPX, TDC, TMO, RIG, TZOO, UPS, VEEV, VRSN, V, WAT, WEX, IAI, IEZ, FDN, BOTZ, IYH, IAT, IGE, IHI, EWO, EWZ, ECH, EWG, EWH, EWJ, EWW, EWP, THD, TUR, IBB, DBA, PBE, PXJ, PJP, PHO, ILF, VIS. Clink 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

Tuesday 4/12/22. Slider Trading Quiz! Nationwide Financial Services: NFS

$ $ $

I show another slider trading quiz featuring Nationwide Financial Services: NFS stock.

$ $ $

Here's a symbol list of 148 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACN, ADBE, AMD, ATSG, ALL, AYX, AMZN, ABC, AMGN, ANTM, AAPL, AMAT, ATR, ADM, AGO, ATO, BKH, EPAY, BFH, BBW, BG, CDNS, CPB, CX, CNC, CENX, CRL, CHS, CHD, CIEN, CINF, CLX, CMCO, CTS, ^DJU, DTE, BOOM, EIX, EOG, EQT, EL, RE, EZPW, FFIV, FICO, FMC, GOOGL, GPRO, EVRG, HBI, HLIT, HE, INFN, INTC, IPI, ISRG, JNJ, KELYA, KLAC, LHX, LRCX, MANH, MRK, MGEE, MSFT, ^IXIC, NFLX, NJR, NEE, NKE, NVDA, OUT, PAYX, PETS, PFE, PPG, PFG, PEG, PHM, KWR, RMBS, RHI, ROG, ROST, ^GSPC, SLB, SIGI, SRE, SMTC, SKX, SO, SRDX, TJX, VC, WOLF, WWW, WDAY, XEL, ITB, FTEC, QTEC, FXI, BOTZ, IYH, IHF, IGV, SOXX, IEO, EWK, EEM, EWG, EIS, EWJ, EPP, EWS, EWP, EWL, EWT, TUR, QLD, PJP, QQQ, ROBO, IXC, IXN, SSO, XLP, SPY, XLK, UNG, SMH, MGK. Clink 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 Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Monday 4/11/22. 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 the Dow industrials on the daily scale.

I drew the red trendlines first. Why? Because I like to define the boundaries of price movement. They show where the index punctured the trendline and might suggest a trend change.

After that, I looked for recent price trends. That hunt found a flag pattern, which I show outlined in blue (A).

The flag pattern suggests an upward breakout. If that happens, and I expect it will, it will be a bullish move. So this week, I'm looking for the index to rise.

If an upward breakout from the flag happens, the index could reach 37,500. I get that by eyeballing the chart and the height of the flag pole (from 33,000 to 35,500), added to the top of the flag (the breakout price, about 33,000).

The move would reach the top of the chart, but it'll take longer than a week to get there.

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

Many options expire this week, so traders will be looking to close out their positions, and that suggests increased volatility (large daily price swings).

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 will be starting in about 5 days.

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: ANF, ACN, ADTN, ATSG, AMGN, ANTM, ARCB, ACGL, AVA, BCPC, EPAY, CX, CENX, CSCO, CLF, CMCO, CCRN, CSGS, CTS, CW, DDS, EMR, EPAM, EQT, EXPD, EZPW, FFIV, GILD, EVRG, HLIT, HSC, HSII, HOLX, HON, HURC, INFN, INTC, IPI, INTU, KMT, KMB, LHX, LZB, LDOS, LOW, MRTN, MGEE, NEE, JWN, OUT, PFE, PICO, PPG, PINC, PFG, PRU, KWR, RMBS, RHI, ROST, SLB, SAIC, SIGI, SMTC, SWX, SXI, SSYS, TGT, TDC, TJX, TG, VMI, VC, WMT, WMB, ITA, IYH, IHF, IEO, EWO, EWM, EWT, PPA, PXJ, PJP, XLP, XRT, XAR. Clink 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 4/8/22. 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: DDD, AMD, AJRD, ATSG, ALRM, ALB, AMZN, AEL, AMWD, AMN, ARCB, AWI, AGO, AVNT, AVA, AZTA, BZH, BMRN, BA, BFH, CBT, CAL, CX, CHKP, CIEN, CLNE, CNA, CMCO, COP, GLW, COST, DHR, ^DJI, EMN, WIRE, EQT, FFIV, FICO, GNW, GILD, GS, GOOGL, GFF, HLIT, HSIC, HNI, DHI, HOV, HURC, IDXX, IBP, INTC, IPI, NVTA, JBLU, KSS, LHX, LH, LEN, LXU, MHO, M, MRO, MCHX, MLM, MA, MDT, FB, MGEE, MS, NCR, NFLX, NTGR, NTAP, JWN, NWPX, NVDA, OMC, OUT, PANW, PATK, PPG, PHM, KWR, QCOM, DGX, RL, RMBS, RGS, RHI, RCKY, ROG, SAIA, SAIC, SMG, SIGI, LUV, SWX, SSYS, SUM, SRDX, TPR, TECH, TOL, RIG, SLCA, V, VC, VMC, WLK, WEX, WMB, WOLF, WWW, IAI, ITB, FXI, BOTZ, IHF, IAT, IYZ, IYF, EWK, EEM, EWG, EWH, EIS, EWS, EWY, EWT, TUR, PPA, PEJ, XLF. Clink 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 4/7/22. Intraday Market Direction: Nasdaq

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 the Nasdaq composite on the 5-minute scale.

The blue lines highlight a chart pattern called a symmetrical triangle. The index remains within the two blue lines...until it doesn't. When it breaks through, that's the breakout. We see the index near the bottom blue line (B) before it gapped lower in a breakout.

The red pattern is a diamond bottom. A well-behaved diamond would see price rise back up to A, reaching the bottom of the triangle (if you were to extend the blue line).

Of course, that might not happen. We could see a partial retrace before the index plummets again.

$ $ $

Here's a symbol list of 184 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADBE, AEIS, AMD, AES, ATSG, ALKS, AMED, AEP, AEL, AMGN, APH, AON, AMAT, ARCB, AWI, ARW, ASH, AVNT, BSET, BAX, BZH, BIG, BIO, BMRN, BA, BKNG, BAH, BFH, BLDR, CBT, CACI, CDNS, CE, CLS, CX, CVX, CNA, CGNX, CMCO, GLW, COTY, CRH, CSGS, CTS, DDS, ^DJT, BOOM, EMN, WIRE, EFX, EL, EXC, EZPW, FICO, FDX, FE, FLEX, FORM, GPS, GE, GPN, GL, GS, GFF, HLIT, HL, HELE, HNI, DHI, HOV, IEX, ILMN, INCY, INFN, IBP, IIIN, INTC, IPAR, IBKR, IPG, IPI, IVC, JBLU, KBH, KSS, LHX, LEN, MHO, MTSI, MLM, MDC, MGEE, MLKN, MS, NCR, NTGR, NTAP, NWL, NXGN, NKE, NWPX, NVDA, OMC, ASGN, PDCO, PAYX, PRFT, PETS, PHM, QCOM, RL, RMBS, REV, RHI, ROK, RCKY, SAIA, SMG, SIGI, SMTC, NOW, SHW, SUM, TPR, TDOC, TEVA, TMO, TKR, TOL, UPS, VMI, VRSN, VC, VMC, WLK, WEX, IAI, IYK, ITB, FDN, FXL, BOTZ, IHF, IAT, SOXX, IYF, IHI, EWO, EWK, EWQ, EWG, EWI, EWJ, EWM, EZA, EWT, PJP, XLF, XHB, XLI, USO, SMH, VIS. Clink 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

Wednesday 4/6/22. A Look At Indicators

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 CPI issued a bearish signal yesterday (Monday). That's about a week after a minor high happened.

An upward move began near mid March and peaked at the start of April. From there, it has retraced and the red bar appeared (far right of the chart).

Notice the CPI line near the bottom of the chart. It started heading lower even as the index climbed. That bearish divergence signaled a possible trend change which we may be seeing now.

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).

Both the blue and red lines have turned down and the above numbers confirm this (as compared to a week ago).

As I've mentioned for months now, the two lines have trended lower since the left side of the chart.

Taken together, the two charts are bearish, so it looks to me as if the index will retrace the recent gains (say, about half of those gain since the mid-March low).

$ $ $

Here's a symbol list of 127 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ADBE, AEIS, AES, ATSG, ALB, AEO, AEP, AEL, AMGN, AMN, APH, ANIK, ARCB, AWI, AVA, BCPC, BSET, BZH, BRC, BFH, BMY, CBT, CDNS, CF, CHS, CNA, CGNX, CMCO, COTY, CRH, CCRN, CSGS, DDS, D, DOV, BOOM, EIX, FICO, FAST, FDX, FIS, FE, GIS, GILD, GPN, GL, GGG, HSC, HQY, HL, HSY, HNI, ILMN, IIIN, ITGR, INTC, IPAR, TILE, ISRG, IVC, KBH, KMT, KSS, LHX, LOW, LXU, MHO, MANH, MRTN, MTRX, MDC, MGEE, MLKN, MLI, JWN, NWPX, ASGN, OUT, PAYX, PRFT, PETS, PHM, QCOM, RMBS, RGS, REV, RNG, RCKY, SIGI, LUV, SWX, SCS, SUM, TGT, TDOC, TXN, TOL, UPS, VEEV, VRSN, VC, ZBRA, IEZ, FDN, FXL, BOTZ, EWO, EWK, EWC, EWG, EWJ, PEJ, PJP, GLD, UNG, USO. Clink 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

Tuesday 4/5/22. Slider Trading Quiz! Merck (MRK)

$ $ $

I show another slider trading quiz featuring Merck: MRK stock.

$ $ $

Here's a symbol list of 76 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AEL, AMGN, AMN, ANIK, ADM, AIZ, BRC, BG, CALM, CENX, CHKP, CHS, CNA, CMTL, CRH, CCRN, DVN, WIRE, EXC, EZPW, FDX, FISV, GL, HBI, HL, IBP, IIIN, ITGR, TILE, ISRG, JBLU, JNJ, KBAL, LZB, LH, LXU, MTRN, NFG, NTGR, NEU, JWN, OMCL, ASGN, OTEX, PKE, PETS, RES, SAIC, SIGI, LUV, SWX, SCS, TPR, TPX, TXN, VRSN, VC, WSM, IAI, IEZ, FXL, IYH, EWK, EWZ, EEM, TUR, IBB, PBE, PXJ, ROBO, UNG. Clink 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 Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Monday 4/4/22. 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 the Dow transports on the daily scale.

At AB we see a potential double bottom never confirmed as valid. That means the index didn't close above the horizontal red line, C.

After the potential double bottom, a head-and-shoulders bottom appears. I show that as LS (left shoulder), head, and right shoulder (RS).

What happens now? At D, we see the index throwing back to the breakout price. That happens at D.

It the head-and-shoulders bottom performs as the average HSB, it suggests price will rise 75% of the time after the throwback. So that's what I see happening.

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 will be starting in about 12 days.

Here's a symbol list of 107 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ADTN, AMD, ALRM, AEP, AEL, ARCB, AVNT, AVA, BBY, BIG, BKH, BA, BAH, CVX, CMCO, CMTL, CRH, DVN, D, DTE, WIRE, EPAM, XOM, FDS, FICO, FE, FRD, GPS, GD, GGG, GFF, HBI, HAYN, HSIC, HOV, HUBG, IDA, IDXX, NSP, ITGR, IPAR, IBKR, TILE, IVC, JBLU, KSS, LANC, LDOS, LOW, MU, NJR, NEU, NEE, NXGN, NOC, OMI, POR, PPG, PHM, KWR, RGS, RCKY, RES, SLB, SEE, SIGI, SWX, TPR, TGT, TPX, TEVA, TXN, TKR, TJX, VEEV, VRSN, VC, WSM, IYE, FXI, IGE, IEO, EWO, EWK, EWZ, EEM, EWQ, EWG, EWH, EIS, EWM, EPP, EWP, EWD, EWT, DBA, IEV, IXC, ILF, XLE, XLU. Clink 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 4/1/22. 2022 Forecast Update

$ $ $

Here's a symbol list of 104 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ACIW, AKAM, ALL, AEO, AEP, AMGN, ACGL, AVNT, BCPC, BLL, BECN, BZH, BIIB, BA, CBT, CE, CF, CINF, CTXS, CNA, CMCO, CMTL, CRH, CCK, DVN, DFS, ^DJT, D, DRQ, EXP, WIRE, RE, EXC, FFIV, FDS, FE, FRD, EVRG, GFF, HE, HTLD, HOV, INTC, ISRG, JNJ, KSS, LZB, LEG, LOW, MHO, MSFT, MLI, NTAP, NWL, NXGN, NI, NWPX, ORI, OMI, OXM, PKE, PATK, PYPL, POR, PINC, PHM, RGS, RCKY, RES, SIGI, SO, LUV, SRDX, TPX, TEVA, TXN, TJX, TOL, TSCO, TRV, TG, UGI, VEEV, VMC, WSM, IYK, THD, TUR, DBA, PJP, UNG. Clink this link for details (pattern type, start and end dates).

For a list of small patterns (those a few days wide) click this link.

$ $ $

Here's the updated 2022 forecast, presented in slider format.

Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 30 March 2022 were... (The numbering is how they ranked a month ago.)

The folks at two firms polled by Fidelity weigh the sectors in this order, as of 3/26/22.

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 3/30. The numbering is how they ranked a month ago.

 

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