As of 04/16/2024   Indus: 37,799 +63.86 +0.2%     Trans: 15,246 -142.11 -0.9%     Utils: 836 -13.23 -1.6%     Nasdaq: 15,865 -19.77 -0.1%     S&P 500: 5,051 -10.41 -0.2%	YTD  +0.3%   -4.1%   -5.2%    +5.7%    +5.9%	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 04/16/2024   Indus: 37,799 +63.86 +0.2%     Trans: 15,246 -142.11 -0.9%     Utils: 836 -13.23 -1.6%     Nasdaq: 15,865 -19.77 -0.1%     S&P 500: 5,051 -10.41 -0.2%	YTD  +0.3%   -4.1%   -5.2%    +5.7%    +5.9%
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

Tuesday 1/31/23. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Tredegar: TG (support and resistance) stock.

$ $ $

Here's a symbol list of 66 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AJRD, AFL, AMWD, AR, ADM, AVNT, AVA, AZTA, BBBY, BBY, BBW, CALM, CE, CNP, CHKP, CTSH, DDS, EIX, ELV, WIRE, EXPI, FAST, FLEX, FLS, FDP, IT, HLIT, HAYN, HQY, HUM, IIIN, IPAR, ISRG, IVC, JAZZ, KLAC, L, MLI, NXGN, OLN, PKG, PEG, REGN, ROG, ROST, R, SCHW, SCI, SCS, SRDX, SNPS, TEVA, VLO, ITA, EIS, EWW, EWP, EWU, DBA, PJP, XLY, XLV. 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 Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Monday 1/30/23. 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.

The red lines highlight a chart pattern that I call an inverted roof. It looks like the top half of a diamond or a roof top flipped upside down. In this case, the index rises into the start of the pattern (the move from A to B).

That incoming rise distinguishes the roof pattern (in a case like this) from a head-and-shoulders bottom or the complex variety.

No clear right shoulder mirrors the left one near the same price, so it's not a head-and-shoulders.

Inverted roof patterns breakout upward and downward about equally (51% to 49%, respectively). They are rare patterns with a performance that's near the bottom (worst) of the list.

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 104 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ALGT, AMZN, DOX, AMED, AEP, AEL, AXP, AMN, ARCB, AVNT, AVA, BBW, CPB, CX, CNC, CNP, CVX, CHD, CNO, CL, CAG, DECK, DDS, DSGR, ^DJU, DRQ, ELV, EL, EZPW, FICO, FAST, GME, GE, GNW, GL, THG, HLIT, HAYN, HSII, HURC, IIIN, IVC, KELYA, KMT, LHX, L, MTSI, MRTN, NI, NUS, OLN, OMCL, OXM, PAYX, PLXS, POR, PPL, RJF, RNG, ROG, ROST, R, SAIA, SCHW, SMG, SHOP, SPLK, SXI, SNPS, TFX, TEVA, TG, UNH, VLO, V, VC, WERN, WSM, ZBRA, IAT, EWK, EWC, EWJ, EWW, TUR, PPA, PBE, IXN, ILF, XLY, XHB, XRT. 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 1/27/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 118 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AJRD, ALB, AIG, ABC, ANET, ADP, AVA, AXS, BMI, BZH, BBBY, BIO, BKH, BOOT, BBW, BLDR, CPB, CNP, CVX, CAG, COTY, DSGR, EFX, EL, EXPI, XOM, EZPW, FARO, FAST, FIS, FLS, FTNT, GNW, GS, GPRO, HLIT, HAYN, HTLD, HSII, HOV, IBP, IIIN, PODD, IPAR, IRM, JBLU, RAMP, L, M, MANH, MRTN, MTRN, MTRX, META, MGEE, MUR, NOV, NTAP, NXGN, NOVT, NUS, OXY, ORI, OMCL, PKG, PANW, PTEN, PFE, RJF, RGA, RLI, ROG, R, CRM, SCHW, SMG, SCI, SLGN, SKX, SWN, SNPS, TGT, TFX, TEVA, TSCO, TREX, TWLO, SLCA, V, WMT, WDAY, IYC, IEZ, IHE, QTEC, FXI, IYZ, IGV, EWC, EEM, EWS, EWT, PPA, DBA, PEJ, PXJ, IEV, IXC, ILF, XLY, UNG. 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 1/26/23. Ethereum (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 Ethereum (ETH-USD) on the daily scale.

A weird looking double bottom appears at AB, but perhaps it's better called an ugly double bottom. I place a minimum move of 5% for the second bottom to form a valley above the prior one. By that I mean bottom B should be at least 5% above valley A. However, that doesn't apply to indices and probably not cryptocurrency like this one. The 5% hurdle is too high for indices and maybe cryptos.

As I was looking at the picture, I noticed the moves from the green line to D mirrors the drop from the green line to E. The drop from F to the green line mirrors the drop from the green line to A. It reminds me of the trendline measure rule where the rise above the trendline mirrors the following extent of the drop.

In this case, the drops fall short of the rises, but it's an interesting observation.

Now that the currency has peaked near the height of D, I'd expect to see a drop, finding support about halfway down to B.

$ $ $

Here's a symbol list of 126 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AJRD, AKAM, ALK, ALB, ALL, AMZN, AEE, AEL, AIG, AON, AMAT, ARW, AIZ, AVA, BSET, BZH, BERY, BBY, BIG, BIIB, BMRN, BCO, BRKR, BBW, BLDR, CNP, CHS, CLF, CNO, CNX, CGNX, CTSH, CMCO, CMTL, CAG, GLW, CRH, CSGS, CTS, CW, DDS, DSGR, EBAY, RE, EXC, EXPI, FAST, FORM, FDP, GD, GNW, GS, HLIT, HSII, HSIC, HNI, HOLX, IIIN, PODD, ITGR, IPI, IRM, KELYA, KEYS, KLIC, LZB, LEG, L, MRTN, MTRN, MTRX, NBR, NFG, NTNX, PKG, PDCO, PAYX, PCG, PHM, RGA, ROG, RES, R, SEIC, NOW, SHOP, STR, SMAR, SWX, SWN, SXI, TRGP, TECH, TDY, TPX, TDC, TEVA, TMO, TDG, SLCA, VMI, VEEV, WERN, WSM, WWW, XEL, IYK, IAT, IGE, EWJ, EWS, PXJ, XLV, XRT, 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 Nasdaq composite, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Wednesday 1/25/23. 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 chart shows the most recent signal as bullish, according to the vertical green bar on the far right of the chart. The blue indicator line shows it peaked and dropped back some today.

Is this a signal of a continued drop?

I don't know. I invented the Chart Pattern Indicator but that doesn't mean I know how it works (that's a joke). Back in July, we see the start of two green bars separated by about two weeks and that led to a continued move higher. So let's assume it's correct. This chart is bullish.

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).

The blue line has merged with price but it shows no change from a week ago. The red line is bullish and has improved from last week's reading.

This week, we have two bullish charts, so let's go with the flow and say the markets over the coming week will be bullish. Of course, earnings are coming and that could upset things...so take care of each other.

$ $ $

I released a preliminary version of Patternz. It has a few bug fixes, better handling of decimal places (narrower chart margins, if you desire -- go to the chart form, the click Setup button and look for decimals) and broadening wedges finding and displaying have been improved. I continue to work on the program. Plan are to incorporate Weinstein's stages into the program and give more options for free quote uploading (yes, including you in England). That's my hope, but we'll see if I can complete it.

If you have suggestions for improvements to the program, let me know. Just remember that it's a pattern recognition program, and not an indicator program or a spreadsheet to keep track of your trades. I may tell you no and implement your feature anyway, so there's no harm in asking. Click this link for my email address.

Oh, and be sure to scan it for viruses.

$ $ $

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, ADTN, AJRD, ALKS, ABC, AON, ANET, BBBY, BKNG, BBW, CPB, CNP, CENX, CHS, CIEN, CNO, CMCO, ED, CAG, CW, DECK, DSGR, BOOM, EXC, EXPI, XOM, FICO, FAST, FISV, FMC, GILD, GS, GGG, GFF, GES, HLIT, HE, HSIC, HNI, HUBG, IIIN, PODD, ITGR, INTU, ISRG, JKHY, JNJ, LLY, RAMP, LOW, MTRN, NFG, NOV, NEE, NXGN, NI, NUS, PKI, PNW, R, SCHW, SMG, SIGI, SHOP, SLGN, STR, LUV, TDOC, TPX, TEVA, TMO, TOL, TDG, RIG, UGI, UPS, V, WU, WMB, WSM, WSC, IYZ, IGV, EWT. 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

Tuesday 1/24/23. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Transocean: RIG stock.

$ $ $

Here's a symbol list of 118 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, AJRD, ALB, AMGN, AON, APA, BIG, BIO, CALM, CPB, CNC, CHS, CHD, CI, CMTL, CAG, COP, CW, XRAY, DVN, DSGR, BOOM, EIX, XOM, FIS, FIVN, GME, GPS, GIS, GNW, GILD, GES, HTLD, HSIC, HOV, INFN, INTC, IVC, IRM, K, KBAL, LLY, RAMP, MU, MS, ^IXIC, NTAP, NWL, NXGN, NTNX, ON, PANW, PKE, PDCO, PG, QCOM, REGN, ROG, R, CRM, SCHW, SMG, SMTC, NOW, SHOP, SLGN, STR, SKX, LUV, SWX, TDC, TEVA, TREX, UHAL, VLO, V, VC, WOLF, WWW, ZBRA, QTEC, FXL, FXI, IYZ, IGV, SOXX, SLV, IEO, EEM, EWH, EWY, EWD, EWT, TUR, ROBO, IXN, XRT, UNG, USO, SMH. 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 Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Monday 1/23/23. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Options Expiration
• Swing Traders: Pivot Points
• Earnings, Chart Patterns & Industries

My Prediction

This is a chart of the Dow utilities on the daily scale.

At DEF, we see a double top. A double top is just like it sounds. It's a twin peak pattern with the two tops at about the same price. It confirms as a valid chart pattern when the index closes below the bottom of the valley between the two peaks. That happens at F

AB are two peaks (not as level as DE, but they are close) but in this case, it doesn't confirm yet. At C, the price bar doesn't close below the red line, so it's just squiggles on a price chart (while waiting for confirmation).

How far will price drop? We don't know but a clue is the knot below the double bottom. I would expect the index to reverse between the two green lines but that's just a guess.

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 118 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ADTN, AEIS, AFL, AEE, AEP, AFG, APA, APOG, ACGL, ADM, BKH, BA, BRKR, BG, CALM, CPB, CI, CINF, CLNE, CNA, CGNX, CAG, COST, CROX, CSGS, CW, DSGR, EL, RE, EVRG, EXC, FFIV, FICO, FARO, FDX, FISV, GNW, GILD, GOOGL, GGG, GFF, HURC, IDA, JBLU, JNJ, LRCX, LDOS, LLY, RAMP, LMT, L, MTSI, MANH, MRTN, MTRX, META, MGEE, MLI, NFLX, NEU, OLN, OMC, ON, PANW, PKE, PKI, POR, PPG, PPL, PEG, RTX, ROG, RES, R, SMG, SIGI, NOW, STR, SO, SR, SCS, SSYS, SRDX, SNPS, TEVA, TZOO, VC, WRB, WEX, WMB, WOLF, FXI, SOXX, SLV, EEM, EWH, EWM, EWY, TUR, PPA, PEJ, USO, SMH. 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 1/20/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 192 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AMD, AJRD, AKAM, AA, ALL, AEP, AXP, AFG, AMWD, APH, AON, APA, ARW, AGO, ADSK, BMI, BCPC, BIIB, BFH, BCO, BRKR, CACI, CALM, CAL, CPB, CNP, CHS, CINF, CLNE, CNA, CMTL, CAG, CR, CRH, CSGS, CW, DVN, DFS, ^DJI, EMN, EBAY, EME, EMR, EL, EVRG, EXC, EXPD, FFIV, FE, GE, GIS, GILD, GPN, GFS, GOOGL, GGG, GFF, THG, HLIT, HIG, HE, HL, HNI, HON, HWM, IDA, IBP, ITGR, IBKR, JAZZ, KALU, LH, LRCX, LAMR, LANC, LDOS, LEN, RAMP, MANH, MAN, MRO, MAS, MTRN, META, MGEE, MSFT, MLKN, MOS, ^IXIC, NOV, NWL, NEE, NXGN, NKE, JWN, NWPX, OXY, OMC, PANW, PETS, PFE, POR, PPG, PG, PEG, KWR, RTX, RCKY, RES, R, SCHW, SMG, SEIC, SRE, NOW, SHW, SHOP, STR, SO, SPSC, SCS, SSYS, SUM, SRDX, TRGP, TDOC, TEVA, TXT, TWLO, SLCA, UNM, VLO, VEEV, VRSN, VMC, WAT, WEX, WMB, ITA, IAI, ITB, DDM, FTEC, FDN, QTEC, FXL, BOTZ, QQQ, ICF, IYZ, IGV, SOXX, IYF, ECH, EWH, EWW, QLD, IBB, PPA, DBA, PEJ, IEV, IXN, XLP, XLF, XRT, XAR, XLK, UNG, USO, 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.

$ $ $

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 1/19/23. 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.

I don't have a lot to say about what you see in the chart. The index followed an upward trend, shown here by the red line.

On Wednesday, the index pierced the uptrend by tumbling on good news about inflation moderating but Fed officials sounded a cautious note. The words pulled the rug out from under the inflation news and the markets tumbled. The tumble pushed the chart pattern indicator (not shown) into bearish territory, so this retrace might have legs...or not.

$ $ $

Here's a symbol list of 252 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ACIW, ADTN, AMD, AJRD, AKAM, ALK, AA, ALKS, DOX, AEE, AEO, AEP, AEL, AMWD, AME, AMGN, AMN, APH, AR, APA, ARW, ADSK, AVA, BMI, BCPC, BSET, BIIB, BKNG, BFH, BCO, BRKR, BBW, BLDR, CBT, CACI, CALM, CPB, CNP, CENX, CVX, CHS, CI, CSCO, CLNE, CLX, CNX, CMTL, CR, CRH, DHR, ^DJT, DRQ, DUK, BOOM, EBAY, EMR, WIRE, EOG, EL, RE, EXPD, XOM, FFIV, FAST, FDX, FE, FIVN, FMC, FORM, FTNT, GPS, GD, GE, GIS, GILD, GPN, GFS, GPRO, GFF, THG, HLIT, HP, HON, HWM, HURC, INFN, NSP, INTC, TILE, IVC, JNJ, KALU, K, KELYA, KMT, LH, LRCX, LAMR, LDOS, LEN, L, M, MANH, MRK, MGEE, MSFT, MLKN, MOS, MYGN, ^IXIC, NOV, NJR, NWL, NEE, NXGN, NI, JWN, NUS, OMCL, OMC, OTEX, OMI, PKG, PANW, PTEN, PETS, PFE, PPL, PINC, PG, PGR, RMBS, RJF, RCKY, ROG, ROL, ROP, R, SLB, SCHW, SMG, SEIC, SIGI, SRE, SCI, SHW, SHOP, STR, LUV, SWX, SCS, SSYS, SUM, TRGP, TDOC, TFX, TDC, TEVA, TMO, TSCO, TG, TWLO, SLCA, UGI, UNH, UNM, VLO, VMI, VEEV, VRSN, V, VMC, WAT, WEX, WMB, XEL, ZBRA, IYM, IYK, IYE, ITB, IEZ, IDU, FTEC, FDN, QTEC, FXL, BOTZ, QQQ, ICF, IGV, SOXX, IHI, EWA, EWO, EWC, EEM, EWH, EWM, EWW, EPP, EZA, EWP, EWT, QLD, IBB, PPA, DBA, PEJ, PXJ, IEV, IXN, XLP, XRT, XAR, XLK, XLU, UNG, USO, 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 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 1/18/23. 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 shows a neutral reading as the off-white vertical bar on the far right of the chart shows.

Notice that the CPI line, the thin blue line near the bottom of the chart, took a big plunge. The white bar and the shape of the CPI line can change for up to a week.

The sharp drop is concerning if it continues. It suggests a retrace will occur but we won't know that for sure until it happens.

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).

Price obscures the blue line so look at the thin red one. Over the last 2 weeks or so, the line has climbed steeply. The strength of the move higher is startling. Look at the index over the same span.

The index climbed but not nearly as quickly as the red line. It makes me wonder.

Both charts make me cautious. Indeed, I'm waiting for the Nasdaq to retrace so I can buy one more security to complete my portfolio rebalancing.

$ $ $

Here's a symbol list of 136 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ANF, ADBE, ADTN, AEIS, APD, ALB, ABC, AME, AMGN, APA, ANET, BMI, BCPC, BSET, BBBY, BCO, BRKR, BBW, CBT, CDNS, CVX, CHS, CHD, CINF, CSCO, CLX, CNO, CL, ED, COTY, CR, CMI, DTE, DUK, EBAY, WIRE, EQT, RE, EXPI, XOM, FAST, FMC, FDP, GPS, GNW, GPN, GPRO, THG, HP, HON, HOV, HUM, INFN, NSP, INTC, TILE, ISRG, JNJ, K, KELYA, KMT, KMB, LHX, LH, LLY, L, LXU, MRTN, MCO, MS, MOS, MYGN, NJR, NEE, NI, NOC, NVDA, PKG, PKE, PDCO, PFE, PNW, PGR, RGS, ROL, ROP, SEE, SIGI, SCI, SLGN, LUV, SCS, TPR, TFX, TEVA, TSCO, TDG, TG, UNH, VLO, VMI, VRTX, V, WRB, WOLF, WWD, IYM, IYC, IYE, FXL, BOTZ, SOXX, EWA, EWC, EIS, EWJ, EWM, EWL, EWT, TUR, IBB, PPA, IEV, XLU. 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

Tuesday 1/17/23. 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.

At AB, we have a chart pattern called a double top which predicts a downward breakout. That happens when the index closes below the red line. I drew the red line connecting the lowest valley between the two peaks (C), to the right.

After the index dropped, it quickly reversed and pulled back to the breakout price and kept moving up in this case, to D.

With earnings season about to start, we'll see volatility increase and I would expect a retrace of the move from the December low to D.

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 0 days.

Here's a symbol list of 159 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, AXDX, AES, AFL, ALB, AMZN, AAPL, ATR, ARW, ASH, ADP, AVY, AVNT, AXS, BECN, BZH, BBBY, BOOT, BRKR, CDNS, CNP, CNO, CGNX, CMTL, ED, COST, CR, CMI, DSGR, DRQ, DTE, DUK, EXP, ELV, EL, RE, EXPI, FDS, FARO, FE, FIVN, FTNT, FTV, GPS, GNW, GOOGL, GPRO, GGG, HSC, HQY, HL, HOV, HUM, IDA, NSP, IBP, ITGR, IVC, NVTA, KELYA, KMT, KEYS, KFRC, KMB, KLAC, KSS, LAMR, LEG, LDOS, LMT, L, MANH, MTRN, MTRX, MDT, MU, MCO, MS, MLI, MUR, MYGN, NFLX, NTAP, NKE, NOC, NOVT, NVDA, ORI, ASGN, ON, OMI, OXM, PANW, PKE, PATK, PETS, PFE, POR, PRU, PEG, RTX, RGS, RHI, ROG, ROL, ROST, SAIC, SMTC, SHW, SHOP, LUV, SWX, SR, SXI, SUM, TGT, TECH, TPX, TER, TEVA, TMO, TDG, TRV, TZOO, TG, TREX, MDRX, VC, WOLF, IAI, IYC, IDU, FXL, BOTZ, IYH, SLV, IHI, EEM, EWL, IBB, PBE, PJP, PHO, ROBO, XLY, XLF, GLD, XHB, UNG. 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 1/13/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 144 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, ABM, ACN, AYI, ADTN, AJRD, ATSG, ALB, ALKS, AEE, ABC, AMN, AMAT, AIZ, AGO, ADSK, BBBY, BBY, BMRN, BRC, BFH, BRKR, CPB, CX, CHD, CIEN, CLF, CNO, CNX, CMTL, ED, CXW, CR, DSGR, ^DJU, DTE, DUK, BOOM, ECL, RE, EXPI, XOM, FMC, GPS, GD, GPRO, HBI, THG, HSIC, HSY, HOLX, HOV, IEX, INFN, IIIN, TILE, KBAL, LEG, LDOS, LNC, LOW, MAS, MU, MCO, MS, MYGN, ^IXIC, NUS, NVDA, PKE, PDCO, PETS, PFE, POR, PPG, PINC, PEG, RGS, ROK, ROG, ^GSPC, SLB, SKX, SKYW, LUV, SXI, TRGP, TFX, TEVA, TXN, TDG, TG, UGI, UNH, VECO, VEEV, V, VMC, WMT, WOLF, ZBRA, IAI, ITB, IDU, QTEC, FXL, BOTZ, QQQ, IYZ, SLV, EWO, ECH, EEM, EIS, EWJ, EWM, EZA, EWP, QLD, IBB, DBA, PBE, PEJ, PXJ, ROBO, IXC, XLF, 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.

$ $ $

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 1/12/23. What's Up with BitCoin?

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 Bitcoin on the weekly scale.

I drew a red line, composed of short segments joined together. The first one, C, has a good slope, but not nearly as steep as the one that followed, B. Trend B has more touches than the prior line (which had only 2).

Line C isn't a trendline at all because of only two touches. Indeed, I didn't focus on drawing a typical trendline, but rather just connecting peaks to see how it shows the trend.

Line A suggests that for bitcoin to change trend, it has to close above segment A. That's the big take-away of this chart.

$ $ $

Here's a symbol list of 208 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AYI, ADTN, APD, ALK, ALB, AMZN, DOX, AMED, AEO, AEP, AEL, AXP, AFG, ABC, APH, AR, ARW, AGO, ADP, AZTA, BZH, BBBY, BBY, BIG, BIO, BKH, BAH, BRKR, BLDR, CALM, CNP, CRL, CIEN, CLNE, CMTL, COTY, CR, CRH, CROX, XRAY, DDS, ^DJT, DTE, EMN, EBAY, ECL, ELV, EME, EPAM, RE, EXC, EXPI, FDS, FARO, FAST, FDX, GME, GPS, IT, GE, GNW, GOOGL, GPRO, HBI, HLIT, HL, HD, DHI, HOV, HURC, ITW, INCY, NSP, IBP, IIIN, TILE, IVC, NVTA, JKHY, KBH, KMT, KLAC, LHX, LZB, LH, LAMR, LEG, LDOS, LOW, MHO, MTSI, MCHX, MLM, MCO, MLI, MYGN, ^IXIC, NCR, NWL, NXGN, NUS, NVDA, OGE, OUT, PTEN, PETS, PFE, POR, PINC, PFG, PHM, KWR, REGN, RGS, ROK, ROG, RES, R, ^GSPC, SRE, SHW, SLGN, SCCO, LUV, SXI, SSYS, SNPS, TFX, TMO, TKR, TOL, TDG, TG, TREX, UHAL, SLCA, UGI, UNM, VLO, MDRX, WSO, WU, WLK, WSM, WOLF, XEL, IYM, IAI, IYC, ITB, IDU, FTEC, BOTZ, QQQ, ICF, IYZ, IYF, IHI, EWA, EWK, EEM, EWQ, EWG, EIS, EWI, EPP, EWD, TUR, QLD, DBA, PEJ, PXJ, ROBO, IEV, ILF, SSO, MXI, XLY, XLF, XHB, XLB, XRT, SPY, XAR, UNG, VIS, VAW, 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 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 1/11/23. 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 has flipped to bullish (green) as the vertical green bar on the far right of the chart shows. As the index made a descending scallop pattern, the CPI climbed from A to B.

With the CPI so high, it suggests a retrace will come soon. That's also confirmed by the chart pattern, where the right lip is well below the left one.

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 red and blue lines made progress this week compared to last week. However, look at the red line. It has climbed substantially over the past week or so.

It suggests there's strength in the move.

Although both charts are bullish, the prior one suggests caution, that the up move is overextended. So I'm cautious also. I expect a retrace to begin shortly.

$ $ $

Here's a symbol list of 136 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ATSG, ALB, ALGT, AIG, AMN, ANIK, AVNT, AZTA, BMI, BECN, BBBY, BRC, BFH, BRKR, CACI, CENX, CF, CHKP, CINF, CTAS, CONN, GLW, CSGS, XRAY, DFS, BOOM, EMN, EBAY, EXPI, FIS, FLEX, FORM, FTV, GPS, IT, GOOGL, GPRO, HBI, HAYN, HSIC, HSY, HD, HOV, IDXX, ITW, IIIN, INTC, IPAR, IVC, JBLU, KBH, KELYA, KMT, KBAL, KSS, LDOS, LEN, LNC, RAMP, MHO, MTSI, MAN, MTRX, MDC, META, MU, MCO, MS, MOS, MYGN, NCR, NFLX, NTAP, NEU, NWPX, NVDA, OUT, OMI, PDCO, PFE, QTWO, QCOM, RL, RMBS, RGS, ROK, ROG, SHOP, STR, SKYW, LUV, SR, SSYS, SRDX, TDOC, TXN, TOL, TDG, TREX, TWLO, V, WSC, WOLF, WWD, IYC, ITB, BOTZ, QQQ, EWQ, EWY, TUR, QLD, IBB, DBA, PBE, PEJ, PXJ, PJP, PHO, IEV, SSO, MXI, XHB, SPY, 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.

-- Thomas Bulkowski

Tuesday 1/10/23. Slider Trading Quiz!

$ $ $

I show another slider trading quiz featuring Torchmark: TMK (support and resistance) stock.

$ $ $

For those who have read or downloaded the spreadsheet according to my Retirement article, I flubbed the Excel sheet so I'm reworking the article. I should have it done sometime on Tuesday 1/10.

$ $ $

Here's a symbol list of 205 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: DDD, ABM, ADBE, ADTN, AEIS, A, APD, AKAM, ALK, ALGT, AEO, AIG, AMGN, APH, ANIK, ATR, ARCB, ARW, AGO, AZTA, BALL, BAX, BZH, BBBY, BIIB, BMRN, BOOT, BAH, BSX, BFH, BMY, BRKR, BBW, CACI, CLS, CX, CNC, CHKP, CNA, CNO, CMTL, CONN, CXW, CR, CSGS, CW, DECK, DFS, DSGR, ELV, EMR, EQT, XOM, FORM, FCX, FDP, FRD, GD, GPRO, HBI, HP, HSIC, DHI, HUM, INCY, INFN, NSP, INTC, JBLU, KALU, KELYA, KSS, KLIC, LHX, LLY, L, LOW, MAN, MRO, MRTN, MAS, MA, MDC, MRK, MYGN, NOV, NCR, NWL, NXGN, NOC, NUS, ON, PTEN, PFE, PLXS, PGR, QTWO, DGX, RL, RJF, RTX, ROK, CRM, SLB, SEE, SHOP, SLGN, SKYW, SCCO, SXI, SCS, SSYS, SUM, TRGP, TER, TXN, TXT, TDG, TG, TREX, TWLO, VECO, V, WAT, ITA, IYM, IAI, IEZ, IHE, FXI, BOTZ, IHF, IYZ, EWO, EWK, EWC, EEM, EWQ, EWG, EIS, EWI, EWM, EWW, EPP, EWS, EZA, EWY, EWD, EWL, EWT, THD, EWU, IBB, PPA, DBA, PBE, PEJ, PXJ, PJP, ROBO, IEV, SSO, MXI, XLF, XLV, XLB, XAR, VHT, VAW. 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 Dow industrials, sorted by value. When several are near each other (small differences), the area might act as support or resistance.

-- Thomas Bulkowski

Monday 1/9/23. Market Monday: The Week Ahead

• My Prediction
• A Brief Look Back
• Options Expiration
• Swing Traders: Pivot Points
• Earnings, Chart Patterns & Industries

My Prediction

I completed new research on "serious" bear markets (drops of 30% or more) and found that stocks take that size hit once every 2 years, ETFs do it once every 3 years, and mutual funds once every 7.5 years. Read the article (link) for more information.

$ $ $

I looked back at a post 3 weeks ago and found that my prediction was right about the Dow turning up at support. I got one right!

$ $ $

I show the Nasdaq on the daily scale in the chart.

The red lines encompass a chart pattern called a broadening top. Notice how price enters the pattern with a strong upward run, from A. The index forms the broadening top as it decides which direction to move, and with a downward breakout, it returns the index back to the launch price (A).

This move (a return to the launch price, or A = B) is unusual for two reasons.

First, it rarely works, but when it does, it provides a handy target to plan a move.

Second, when it does work, price often stops the decline to B above the low posted at the launch price, A. In other words B > A (but not by much).

This strength suggests the index will rise in the coming week...at least that's my guess.

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 7 days.

Here's a symbol list of 173 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ATSG, AMZN, AMGN, APH, ANIK, APOG, ATR, ACGL, ATO, ADSK, ADP, AVNT, BCPC, BBBY, BERY, BBY, BIO, BAH, BSX, BRC, BLDR, CACI, CE, CX, CNP, CENX, CINF, CLF, CLX, CNA, CNO, CTSH, GLW, COST, CR, CTS, CMI, DHR, ^DJU, ^DJT, DRQ, EXP, EMN, ECL, EL, FLS, FORM, FCX, FRD, GIS, GPN, GL, GES, THG, HSC, HIG, HAYN, HL, HP, DHI, HWM, HUN, ITW, ILMN, INCY, INFN, INTC, IPG, IVC, JBLU, KBH, KMT, KBAL, KSS, LAMR, LMT, L, MAN, MTRN, MDC, MRK, MGEE, MLI, NWL, NEU, JWN, NOC, NUS, ORI, OMC, ON, PKG, PATK, PNW, PPG, PGR, RL, RJF, RGS, RGA, RNG, RLI, ROST, SEE, SMTC, SKX, SCCO, SR, SUM, SRDX, TGT, TXT, TOL, TDG, TRV, TG, TREX, SLCA, UNM, V, WMT, WAT, WERN, WSM, WDAY, ZBRA, ITA, IYM, IYK, IDU, FTEC, FXI, IYZ, EWO, EWK, EWZ, EEM, EIS, EWS, EWY, EWP, EWL, EWT, THD, PPA, DBA, PEJ, PXJ, IXN, ILF, MXI, XLY, XLP, XLF, XLI, XLB, XAR, XLK, VIS, VAW, 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

Friday 1/6/23. Pattern Trading Setups for the Weekend.

$ $ $

Here's a symbol list of 99 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: AXDX, ADTN, AEIS, AMZN, ABC, AMN, ANIK, ATR, AIZ, ATO, AVA, BCPC, BALL, BBBY, BAH, CE, CLS, CX, CSCO, CMCO, CMTL, CONN, COP, GLW, CCK, CTS, CMI, EVH, FFIV, FDS, FLS, FORM, FDP, GIS, GL, GOOGL, HSII, DHI, HUBG, ILMN, INCY, INTC, IPI, K, KELYA, KSS, LXU, MRTN, MTRX, MDC, MRK, MGEE, MSFT, MLKN, MOS, NXGN, NWPX, OGE, OMCL, PATK, PFE, PLXS, RGS, RGA, RES, SRDX, TJX, TG, TREX, WRB, WSC, WDAY, IYK, IYE, IDU, FXL, FXI, ICF, EWJ, EWS, TUR, DBA, UNG. 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 1/5/23. 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.

What struck me first is the near horizontal move of the index. I drew a horizontal red line to highlight this.

Below that is a complex head-and-shoulders bottom. I highlight the chart pattern by showing the left shoulder (LS), shoulders 1, 2, and 3, mirroring 2, 1, and RS (right shoulder) on the right side of the dual head.

All of this suggests the index will rise in the coming days. First, though, we have to see the index close above the horizontal red line. If that happens, then it'll confirm the chart pattern.

$ $ $

Here's a symbol list of 158 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: MMM, ABT, ANF, ACIW, AEIS, AES, ALB, AMZN, AXP, ABC, ANIK, ATR, ASH, ADSK, AVA, BSET, BMRN, BKNG, BSX, BMY, BG, CLS, CX, CSCO, CNO, CMTL, CONN, COST, CRH, CCK, CMI, XRAY, DFS, DSGR, D, DUK, EL, RE, EVRG, EVH, FFIV, FLS, FDP, GE, GNW, GES, HSIC, HNI, HON, HWM, HUBG, HUN, ILMN, INCY, IIIN, INTC, IPI, ISRG, IVC, JNJ, KBH, K, KSS, LEN, L, LOW, M, MRO, MLM, MAS, MSFT, MCO, NCR, NWL, NEU, NKE, ORI, OLN, OMCL, OTEX, OXM, PATK, PYPL, PFE, PINC, PGR, PEG, KWR, QCOM, RGS, RCKY, SAIA, CRM, NOW, SKX, SWX, SR, SSYS, TFX, TEVA, TXN, TSCO, TZOO, TG, TREX, SLCA, VEEV, V, VMC, WRB, WSM, WSC, WDAY, QTEC, FXL, FXI, BOTZ, IYH, IYZ, SOXX, IEO, IHI, EWK, EWZ, ECH, EWQ, EWG, EWH, EWI, EWS, EZA, EWP, EWL, PPA, IEV, XHB, SMH, 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.

$ $ $

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 1/4/23. 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 chart shows a transition from neutral to bullish and back to neutral. The signals can change for up to a week. Often they will change after the index makes a big move and kicks stocks to begin trending.

To me, this looks like the index is going to move higher in the coming days. Even though the signal is neutral, I remain bullish for the short term.

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).

The red line is worse off than it was a week ago. The blue line, the less volatile of the two lines, shows no change.

Both lines appear to be moving sideways. Although the downtrend can continue and it might look like a measured move down, to me it shows strength.

Look back in June where we see the inverted image of what we see this past week. There, we see price rise, go horizontal and then drop. I expect the same now (except inverted). A down move, a horizontal move (both of which are in place), followed by a rise. Call this the January effect.

$ $ $

Here's a symbol list of 139 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ABT, ANF, AXDX, AES, AFL, ALK, ALB, ALL, AEE, AEL, AFG, ABC, APOG, AAPL, AWI, AGO, AVNT, AVA, BBBY, BA, BSX, BG, CBT, CDNS, CLS, CNC, CLNE, CMTL, COST, CCK, DECK, XRAY, EBAY, EFX, EQT, EL, EVH, FICO, FTNT, FRD, GME, GNW, GFS, GFF, HL, HUBG, INFN, PODD, IPG, IPI, IVC, JAZZ, KBH, KFRC, KSS, KLIC, LAMR, LANC, L, MTSI, M, MRO, MCHX, MRTN, META, NCR, NEE, NKE, JWN, NOC, NWPX, NVDA, OMC, OTEX, OUT, OMI, OXM, PANW, PYPL, PINC, KWR, QCOM, RMBS, REGN, RGS, RCKY, CRM, SCHW, SMTC, SCCO, LUV, TPR, TGT, TDOC, TXN, TKR, TSCO, VEEV, VRSN, WLK, WSC, WOLF, FXI, EWA, EWO, EWK, EWZ, EWG, EWI, EWW, EZA, EWD, EWL, THD, TUR, IBB, SSO, GLD, XLB, XLK, UNG, 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

Tuesday 1/3/23. 2023 Forecast

$ $ $

Here's the updated 2023 forecast, presented in slider format.

Based on sector performance from Fidelity, the best performing sectors for year-to-date performance as of 12/29/2022 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 12/23/22.

Here's how they rank the industries, but only the top 10 appear. One-year change, as of 12/29/22. The numbering is how they ranked a month ago.

$ $ $

Here's a symbol list of 56 chart and candlestick patterns (13 "investment grade" candle patterns) found in today's securities using my version of Patternz: ANF, AXDX, APD, AEE, AEO, AFG, AVA, CBT, CAL, CENX, CLF, CNO, CMCO, ED, CAG, DRQ, DUK, EIX, EVH, GPS, GE, HE, HL, HSII, HELE, HUBG, INCY, IIIN, ITGR, IPAR, IBKR, KMB, LOW, NOC, OXM, PINC, PEG, RL, RGS, SCHW, SXI, SCS, WSC, IYM, EWZ, ECH, THD, PBE, PXJ, ILF, MXI. 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 Dow industrials, 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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